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Lohnbildung und Hysteresis
Empirische Überprüfung eines Insider-Outsider Modells für die Bundesrepublik Deutschland
Möller, Joachim | Völker, Rainer
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 111 (1991), Iss. 3 : pp. 401–424
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Möller, Joachim
Völker, Rainer
Abstract
The paper develops a wage-setting model for an insider-dominated monopolistic union. The existence of a stationary policy is proven, according to which wage-setting responds inversely to changes in employment. In contradiction to the Phillips-curve model, this result implies hysteresis effects.
It is shown that specific restrictions on the data generating process are imposed by the insider-outsider approach and the Phillips-curve model. These restrictions are tested empirically. Using quarterly data (1962 - 1988) for the Federal Republic of Germany, evidence is found against the Phillips-curve model while the restrictions implied by the hysteresis model are accepted by the data.