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Strikes, Wages, and Private Information

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  • McConnell, Sheena
Abstract
Private information models of strikes suggest that the strike is used as an information revealing device by the union in the presence of asymmetrical information. A testable prediction of these models is that there is a negative relationship between strikes and the unpredicted component of the wage. This paper finds evidence of such a relationship in a large sample of U.S. labor contracts. The real wage falls by about 3 percent after a strike lasting one hundred days. Copyright 1989 by American Economic Association.

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  • McConnell, Sheena, 1989. "Strikes, Wages, and Private Information," American Economic Review, American Economic Association, vol. 79(4), pages 801-815, September.
    • Handle: RePEc:aea:aecrev:v:79:y:1989:i:4:p:801-15
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