Reflections on the Inter-Industry Wage Structure / Alan B. Krueger, Lawrence H. Summers.

By:

Krueger, Alan B

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Material type: Text

TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w1968.Publication details: Cambridge, Mass. National Bureau of Economic Research 1986.Description: 1 online resource: illustrations (black and white)Subject(s):

J - Labor and Demographic Economics

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Abstract: This paper reviews available evidence on the inter-industry wage structure. The inter-industry wage structure is remarkably similar in different eras, in different countries, and among different types of workers. Industries with high capital-to-labor ratios, monopoly power and high profits pay relatively high wages. We conclude that the competitive model cannot without substantial modification provide an adequate explanation of theAbstract: inter-industry wage structure. The implications of this finding for micro and macro economic theory and policy are examined.

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Working Paper	Biblioteca Digital	Colección NBER	nber w1968 (Browse shelf(Opens below))	Not For Loan

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June 1986.

This paper reviews available evidence on the inter-industry wage structure. The inter-industry wage structure is remarkably similar in different eras, in different countries, and among different types of workers. Industries with high capital-to-labor ratios, monopoly power and high profits pay relatively high wages. We conclude that the competitive model cannot without substantial modification provide an adequate explanation of the

inter-industry wage structure. The implications of this finding for micro and macro economic theory and policy are examined.