The Ratchet Effect, the Market for Senior Workers, and Intertemporal Commitment

This paper studies the effect that a labour market for older workers will have on the ratchet effect. Even though we assume that the information on worker type that a firm obtains will not be transmitted to the other firms, the presence of the ex post labour market eliminates the ratchet effect. We also compare the cases with and without the market for senior workers, with yields useful insights on differences between labour markets in the U.S. and Japan.

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Year of publication:	1987
Authors:	Kanemoto, Yoshitsugu ; MacLeod, W. Bentley
Institutions:	Economics Department, Queen's University

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Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	25 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005490245