wages, pay determination, industrial relations

The Theory and Practice of Pay Setting

This review focuses on pay variance across workers, employers and across time and illustrates how theories of pay determination can shed light on this variance. We discuss the limitations of the orthodox economic approach to pay setting and emphasise the importance of labour market imperfections and the unique character of the labour contract in determining wage outcomes.

The Theory and Practice of Pay Setting

This review focuses on pay variance across workers, employers and across time and illustrates how theories of pay determination can shed light on this variance. We discuss the limitations of the orthodox economic approach to pay setting and emphasise the importance of labour market imperfections and the unique character of the labour contract in determining wage outcomes.