Bellmann, Lutz; Gerner, Hans-Dieter; Hübler, Olaf - In: Economics Bulletin 34 (2014) 1, pp. 494-509
Using a three-stage least squares estimator, this paper analyzes within a three equation model the effects of company-level pacts involving reciprocal concessions in Germany. We find that such agreements between employers and employees commonly fail to achieve their primary objective to...