Wages, Profits and Rent-Sharing
Wages, Profits and Rent-Sharing
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DOI：
10.2307/2946663
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发表时间：
1992-12
期刊：
影响因子：
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通讯作者：
David G. Blanchflower;A. Oswald;Peter Sanfey
中科院分区：
文献类型：
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作者：
David G. Blanchflower;A. Oswald;Peter Sanfey
本文利用1964 - 1985年的CPS数据检验了美国塔博尔市场中租金分享的存在性。利用制造业的一个非平衡面板，以及随机效应和固定效应的规范，本文发现工资的变化是由滞后的盈利能力和失业水平的变动来解释的。结果似乎是一致的租金分享理论（或劳动合同框架与风险厌恶的公司），并与竞争性劳动力市场模型不一致。本文估计失业的薪酬弹性约为-0.03，薪酬的利润弹性在0.02和0.05之间。
The paper uses CPS data from 1964 to 1985 to test for the existence of rent-sharing in US tabor markets, Using an unbalanced panel from the manufacturing sector, and random-effects and fixed-effects specifications, the paper finds that changes in wages are explained by movements in lagged levels of profitability and unemployment. The results appear to be consistent with rent-sharing theory (or a labor contract framework with risk-averse firms) and to be inconsistent with the competitive labor market model. The paper estimates the unemployment elasticity of pay at approximately -0.03, and the profit elasticity of pay at between 0.02 and 0.05.