Firm-Specific Determinants of the Real Wage
利用美国工资合同面板数据，检验讨价还价模型提出的企业特定变量（如销售额、资本劳动比和财务流动性）对实际工资的影响，发现这些变量是重要决定因素。
Bargaining models suggest that firm-specific variables play an important role in wage determination. Yet previous empirical studies of wage determination have largely ignored these variables. Our analysis of a large panel data set of U.S. wage contracts suggests that firm-specific variables suggested by bargaining models. such as the values of sales. the capital-labor ratio, and the financial liquidity of the firm. are important determinants of negotiated real wages.