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Lohnbildung und Hysteresis

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Möller, J., Völker, R. Lohnbildung und Hysteresis. . Empirische Überprüfung eines Insider-Outsider Modells für die Bundesrepublik Deutschland. Journal of Contextual Economics – Schmollers Jahrbuch, 111(3), 401-424. https://doi.org/10.3790/schm.111.3.401
Möller, Joachim and Völker, Rainer "Lohnbildung und Hysteresis. Empirische Überprüfung eines Insider-Outsider Modells für die Bundesrepublik Deutschland. " Journal of Contextual Economics – Schmollers Jahrbuch 111.3, 1991, 401-424. https://doi.org/10.3790/schm.111.3.401
Möller, Joachim/Völker, Rainer (1991): Lohnbildung und Hysteresis, in: Journal of Contextual Economics – Schmollers Jahrbuch, vol. 111, iss. 3, 401-424, [online] https://doi.org/10.3790/schm.111.3.401

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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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Article Details

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.