The same mechanism you see uncoordinated price fixing, companies set their numbers by copy+pasting from their competitor +/- a little depending on the details.
I think noncompetitive companies will be forced to increase wages initially to compete but after that initial spike the numbers will become much more sticky.
The same mechanism you see uncoordinated price fixing, companies set their numbers by copy+pasting from their competitor +/- a little depending on the details.
I think noncompetitive companies will be forced to increase wages initially to compete but after that initial spike the numbers will become much more sticky.