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An analysis of labour adjustment costs in unionized economies

Modesto, Leonor; Thomas, Jonathan P. - 2000

In this paper we conduct a theoretical analysis of the implications of a union which can exploit the existence of firm labour adjustment costs. We consider a model involving a large number of identical firms facing a single, economy-wide union. We solve (i) for the Markov perfect equilibria with...

Persistent link: https://www.econbiz.de/10011339692

Structural adjustment and endogenous worker recall probabilities

Meland, Frode; Torsvik, Gaute - 2002

small reduction in the unemployment benefits, or introducing a small cash bonus for workers that get a new job, may have no … e.ect on unemployment in some cases, while eradicating significant levels of unemployment in other cases. Our analysis … multiple equilibria may exist in a game involving both workers and an unemployment-averse government. Furthermore, we explore a …

Persistent link: https://www.econbiz.de/10011409750

Dynamic contracts when agent's quality is unknown

Prat, Julien; Jovanovic, Boyan - In: Theoretical economics : TE ; an open access journal in … 9 (2014) 3, pp. 865-914

We solve a long-term contracting problem with symmetric uncertainty about the agent's quality, and a hidden action of the agent. As information about quality accumulates, incentives become easier to provide because the agent has less room to manipulate the principal's beliefs. This result is...

Persistent link: https://www.econbiz.de/10011674079

Severance Pay and the Shadow of the Law : Evidence for West Germany

Goerke, Laszlo - 2006

Due to the complexity of employment protection legislation (EPL) in Germany, there is notable uncertainty about the outcomes of dismissal conflicts. In this study we focus on severance pay and inquire whether its incidence and level varies in a systematic manner with the legal rules as defined...

Persistent link: https://www.econbiz.de/10012783365

An analysis of labour adjustment costs in unionized economies

Modesto, Leonor; Thomas, Jonathan P. - 2000

Persistent link: https://www.econbiz.de/10001567020

Involuntary unemployment as a Nash equilibrium and fiscal policy for full employment

Tanaka, Yasuhito - In: International game theory review : IGTR 24 (2022) 2, pp. 1-11

Persistent link: https://www.econbiz.de/10013263379

Long-term work contracts versus sequential spot markets : experimental evidence on firm-specific investment

Anderhub, Vital; Königstein, Manfred; Kübler, Dorothea - 1999

Dismissal rules, i.e. legally enforced long term contracts, have beem defended against criticism for, among other things, providing efficient incentives to invest in relationship specific skills. However, in many situations efficient investment can also be attained by spot contracts. We...

Persistent link: https://www.econbiz.de/10009580472

Employment duration and resistance to wage reductions : experimental evidence

Burda, Michael C.; Güth, Werner; Kirchsteiger, Georg; … - 1998 - Rev.

increases in unemployment. Put differently, if the competitive market wage declines, why don’t employers simply force their …

Persistent link: https://www.econbiz.de/10009578579

Employment Duration and Resistance to Wage Reductions : Experimental Evidence

Burda, Michael C.; Güth, Werner; Kirchsteiger, Georg; … - 2008

increases in unemployment. Put differently, if the competitive market wage declines, why don't employers simply force their …

Persistent link: https://www.econbiz.de/10014192066

From self-fulfilling mistakes to behavioral learning equilibria

Hommes, Cars H. - 2017

This essay links some of my own work on expectations, learning and bounded rationality to the inspiring ideas of Jean-Michel Grandmont. In particular, my work on consistent expectations and behavioral learning equilibria may be seen as formalizations of JMG's ideas of self-fulfilling mistakes....

Persistent link: https://www.econbiz.de/10011590425