Browsing by Subject "Wage"

Now showing 1 - 4 of 4

Open Access
Bertrand-edgeworth equilibrium in a cash-in-advance economy
(Oxford University Press, 2003) Başçı, E.; Saglam, I.
This paper is about price and wage competition in a dynamic general equilibrium model. We consider an equity financed economy where firms need money to finance their input costs. Part of the output is sold for money to be used in the next period as working capital and the remaining part is distributed to owners as real dividends. We first characterize the steady state competitive equilibrium path. Second, we study whether this competitive equilibrium can be supported as a pure strategy Nash equilibrium in price and wage setting games. We prove a positive result for price competition and a negative one for wage competition.
Open Access
Migration, intermediate inputs and real wages
(1997) Pastine, I.; Pastine, T.
To examine the effects of immigration on real wages it is important to focus on the interaction between the labour and intermediate input markets. Immigration can lead to more extensive exploitation of external and internal efficiencies in other input markets, resulting in higher real wages in the destination country.
Open Access
Patterns of productivity growth and the wage cycle in Turkish manufacturing
(Routledge, 2001) Voyvoda, E.; Yeldan, A. E.
In this paper we investigate the distributional consequences of the post-1980 accumulation patterns and technological change in the Turkish manufacturing industries. We utilise two quantitative techniques. First, we make use of the Hodrick-Prescott filter to disintegrate the cyclical variations in productivity growth and wage rates from their respective historical trends, and study the evolution of the wage cycle against the long term productivity patterns in the sector. Next, we decompose the fundamental characteristics of the contributions of productivity growth of the manufacturing sub-sectors to the overall total. Our results suggest very little structural change in the sectoral composition and nature of productivity advances under the post-1980 structural adjustment reforms and outward-orientation, and underscore that the gains in productivity in this period did not materialise as gains in remunerations of wage labour. Contrary to the prognostications of the orthodox theory, the post-1980 export orientation of Turkish manufacturing was not found to lend itself to productivity contributions, and could not be sustained as a viable strategy of 'export-led industrialisation'.
Open Access
Real wages, profit margins and inflation in Turkish manufacturing under post-liberalization
(Routledge, 2005) Gunay, A.; Ozcan, K. M.; Yeldan, E.
This article reports investigations into the behaviour of gross profit margins (mark-ups) in Turkish manufacturing industries for the post-1980 liberalization period in relation to price inflation, trade liberalization (openness) and real wage costs. Panel data econometrics over 29 subsectors of Turkish manufacturing are used over the period 1980-1996. Results suggest that profit margins are positively and significantly related both to price inflation and real wage costs. However, openness is found to have very little impact on profit margins. © 2005 Taylor & Francis.