Showing 1 - 10 of 17
Purpose – Aims to analyse the labour market outcome when there are two unions in the industry, representing heterogeneous workers – imperfect substitutes in production. Design/methodology/approach – Competition between union policies are viewed in terms of both employment and wage...
Persistent link: https://www.econbiz.de/10004970259
This note develops the solutions of the static portfolio optimization problem in explicit matrix form. Three cases are contemplated and connected, with the derivation of relevant corner solutions: the unconstrained problem in the presence of risky assets only, the constrained one, and the...
Persistent link: https://www.econbiz.de/10011078542
This paper discusses the sensitivity of the labor market outcome in the standard bargaining paradigms - monopoly union and efficient bargaining - to the existence of a budget constraint pending on the financing of the unemployment benefit. Consequences of how the unions value members and...
Persistent link: https://www.econbiz.de/10011078549
The discounting of future felicity flows transposes to the inter-temporal optimisation context the assumption of interest-bearing wealth or savings. The validity of the hypothesis has been challenged by several empirical (ir)regularities and by the theoretical implications for human decision...
Persistent link: https://www.econbiz.de/10011078555
The paper contrasts the pattern of returns to human capital in different economic sectors. As job mobility, especially across sectors, is limited, it is argued that coefficients of experience in earnings regressions may capture or be interpreted as the growth rate – net of depreciation – of...
Persistent link: https://www.econbiz.de/10011078561
This research extends simple two-sector models in order to inquire the impact of the extent of coverage or enforcement of minimum wage legislation in one of the sectors on the equilibrium outcome. Two versions of institutional wage avoidance are presented. They may be seen as representing...
Persistent link: https://www.econbiz.de/10009371237
Purpose – The purpose of this paper is to suggest possible extensions of the baseline Rubinstein sequential bargaining structure – applied to the negotiation of stationary infinitely termed contracts – that incorporate a direct reference to the “ideal” utilities of the players. This is...
Persistent link: https://www.econbiz.de/10005047647
Purpose – The purpose of this paper is to analyse the labor market outcome when there are two unions in the industry, representing heterogeneous workers – substitutes or complements in production – and using wage strategies, in the presence of minimum wage regulation....
Persistent link: https://www.econbiz.de/10004964121
In the standard Harris-Todaro framework, migration flows arise as disequilibrium driven movements of the population. It is the purpose of this research to modify the simple dualistic model in order to account for the existence of permanent migrants, i.e., of individuals who work in another...
Persistent link: https://www.econbiz.de/10005021457
This paper addresses two questions. First, what are the key factors that affect a consumer's lifetime budget constraint and how do they evolve over the lifecycle? Second, how do consumers respond to changes in these factors? We examine the permanent income hypothesis and the Keynesian...
Persistent link: https://www.econbiz.de/10005718202