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Legislative profits and the rate of change of money wages: A comment

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  • Chris Goodrich

Abstract

Gärtner's study is open to objection on a number of counts. His empirical results fail to entirely support the hypotheses derived from his theoretical model, and his test is weakened by the use of dummies to capture ‘political’ influences on wage movements. Taking account of factors ignored by Gärtner's theoretical account, we are able to undermine his explanation, providing what may be either a partial or complete alternative. Whilst politically associated ‘shift’ and ‘cycle’ factors may be at work, they may, as we have tried to show, arise in an entirely different manner from that originally postulated. A comparison of the two approaches is given below. Which explanation prevails is, of course, a matter which can only be resolved by further empirical research. Copyright Martinus Nijhoff Publishers 1981

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  • Chris Goodrich, 1981. "Legislative profits and the rate of change of money wages: A comment," Public Choice, Springer, vol. 37(3), pages 585-588, January.
    • Handle: RePEc:kap:pubcho:v:37:y:1981:i:3:p:585-588
    DOI: 10.1007/BF00133755
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    References listed on IDEAS

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    1. Hibbs, Douglas A., 1977. "Political Parties and Macroeconomic Policy," American Political Science Review, Cambridge University Press, vol. 71(4), pages 1467-1487, December.
    2. Hibbs, Douglas A., 1976. "Industrial Conflict in Advanced Industrial Societies," American Political Science Review, Cambridge University Press, vol. 70(4), pages 1033-1058, December.
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    1. Manfred Gärtner, 1981. "Legislative profits and the rate of change of money wages: A reply," Public Choice, Springer, vol. 37(3), pages 589-593, January.

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