Interindustry Wage Structure and the Power of Incumbent Workers
The apparent stability of the interindustry wage structure across occupations, age groups, durations of job tenure and countries has received renewed interest among economists. Industries which pay comparatively high wages to blue-collar workers also tend to pay comparatively high wages to their white-collar workers. The same tends to be true for a variety of occupational groups (see, for example, Dickens and Katz, 1986a). This regularity is also apparent for young and old workers and for workers with long and short job tenure (Krueger and Summers, 1986, 1988). Such evidence suggests that wage differences among industries cannot be fully explained by differences in human capital or in seniority.
KeywordsNash Stake Omic Monopoly
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