Koskela, Erkki; Stenbacka, Rune; Juselius, Mikale - 2009
, there seems to be
no reason for these relationships to be uniform across different countries, a priori.
Instead our theory … theory, which emphasizes that the effect of the capital stock on
wages is determined by three factors: the bargaining power … countries. Instead our theory seems
to imply country-specific relationships between the capital stock and wages as well
as …