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Claim, offer and information in wage bargaining

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  • García, Jaume
  • Jiménez-Martín, Sergi

Abstract

A stylized private-information model on the determination of the initial works council claim and the initial firm (counter) offer is analyzed in the context of the Spanish Collective Bargaining system. The Spanish system forces agents to make initial offers at the beginning ot the negotiation process. Thus initial firm offers are expected to reveal very little information. Our findings confirm such a guess. Morever, we found that initial offers crucially depend on aggregate bargaining conditions, price expectations and those variables that reflect the characteristics of the negotiation unit. However, the latter set of variables enters differently in both offer equations.

Suggested Citation

  • García, Jaume & Jiménez-Martín, Sergi, 1998. "Claim, offer and information in wage bargaining," UC3M Working papers. Economics 4138, Universidad Carlos III de Madrid. Departamento de Economía.
    • Handle: RePEc:cte:werepe:4138
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    References listed on IDEAS

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    1. M. R. Wickens, 1982. "The Efficient Estimation of Econometric Models with Rational Expectations," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 49(1), pages 55-67.
    2. Sergi Jimenez-Martin & José M. Labeaga & Mariluz Marco, 1996. "Algunos factores explicativos de la existencia de huelgas durante la negociación colectiva en España," Investigaciones Economicas, Fundación SEPI, vol. 20(2), pages 217-242, May.
    3. Hayes, Beth, 1984. "Unions and Strikes with Asymmetric Information," Journal of Labor Economics, University of Chicago Press, vol. 2(1), pages 57-83, January.
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