Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/92443
Authors: 
Franz, Wolfgang
Smolny, Werner
Year of Publication: 
1993
Series/Report no.: 
Discussion Paper, Center for International Labor Economics (CILE), University of Konstanz 5
Abstract: 
In this paper a variety of theories concerning the wage and price formation in Germany are tested. More specifically, wage and price equations are specified in a fairly general manner which nests several theoretical arguments (such as the target real wage bargaining model, hysteresis effects, outsider ineffectiveness, interindustry wage competition) and a perceived tradeoff between reductions in working time and wage increases. Related arguments hold for the price setting process. Recently developed econometric techniques such as error correction models are applied.
JEL: 
J31
Document Type: 
Working Paper

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