Real Wage Determination and Rent-Sharing in Collective Bargaining Agreements
利用约600份劳动合同数据，发现实际工资随雇主行业过去盈利水平上升而上升，随雇主所在地区失业率上升而下降，支持租金分享理论。
The microeconomic forces that influence real wages are not fully understood. This paper studies pay determination using data on approximately 600 labor contracts. It finds that the real wage is an increasing function of past profitability in the employer's industry, and a decreasing function of the level of unemployment in the employer's region. These results are consistent with rent-sharing theories.