The Determination of Contract Wages in West Germany
在讨价还价框架下研究西德合同工资的决定，发现长期中名义合同工资与价格、生产率和失业率相关，短期受通胀预期误差和税收楔子变化影响。
The determination of contract wages in West Germany is studied within a bargaining framework, taking into account some institutional features of the bargaining system as well as the influence of economic forecasts and wage concepts. Cointegration regressions suggest that, in the long run, nominal contract wages are linked to prices, productivity (each with a unit elasticity), and unemployment. In addition to these factors, expectational errors concerning the inflation rate during the contract period and changes in the tax wedge affect (real) wage growth in the short run, but these effects seem to be temporary rather than permanent. Copyright 1993 by The editors of the Scandinavian Journal of Economics.