A Theory Of Wages And Labour Demand With Intra Firm Bargaining And Matching Frictions
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Author | : Pierre Cahuc |
Publisher | : |
Total Pages | : 0 |
Release | : 2008 |
Genre | : |
ISBN | : |
This article provides a model of labor market equilibrium with search and within-firm strategic bargaining. We yield explicit closed form solutions with heterogeneous labor inputs and capital. The solution exhibits overemployment. We show that higher relative bargaining power for some groups of workers may lead to overemployment relative to other groups, with such other groups being underemployed instead if they have a lower relative bargaining power. Similarly, the hold-up problem between capitalists and employees does not necessarily lead to underinvestment in physical capital.
Author | : Etienne Wasmer |
Publisher | : |
Total Pages | : 43 |
Release | : 2004 |
Genre | : Labor demand |
ISBN | : |
Author | : Pierre Cahuc |
Publisher | : |
Total Pages | : 34 |
Release | : 2001 |
Genre | : |
ISBN | : |
Author | : John Hicks |
Publisher | : Springer |
Total Pages | : 405 |
Release | : 1963-06-18 |
Genre | : Business & Economics |
ISBN | : 1349001899 |
Author | : John Davidson |
Publisher | : New York ; London : G.P. Putnam |
Total Pages | : 346 |
Release | : 1898 |
Genre | : Business & Economics |
ISBN | : |
Author | : International Economic Association |
Publisher | : London : Macmillan ; New York : St. Martin's Press, [1957, reprinted] |
Total Pages | : 464 |
Release | : 1957 |
Genre | : Wages |
ISBN | : |
Author | : Dale Mortensen |
Publisher | : |
Total Pages | : 24 |
Release | : 2009 |
Genre | : Labor market |
ISBN | : |
Matched employer-employee data exhibits both wage and productivity dispersion across firms and suggest that a linear relationship holds between the average wage paid and a firm productivity. The purpose of this paper is to demonstrate that these facts can be explained by a search and matching model when firms are heterogenous with respect to productivity, are composed of many workers, and face diminishing returns to labor given the wage paid to identical workers is the solution to the Stole-Zwiebel bilateral bargaining problem. Helpman and Iskhoki (2008) show that a unique single wage (degenerate) equilibrium solution to the model exists in this environment. In this paper, I demonstrate that another equilibrium exists that can be characterized by a non-degenerate distribution of wages in which more productive firms pay more if employed workers are able to search. Generically this dispersed wage equilibrium is unique and exists if and only if firms are heterogenous with respect to factor productivity. Finally, employment is lower in the dispersed wage equilibrium than in the single wage equilibrium but this fact does not imply that welfare is higher in the single wage equilibrium.
Author | : Åsa Rosén |
Publisher | : |
Total Pages | : 42 |
Release | : 1993 |
Genre | : Wages |
ISBN | : |
Author | : Sidney R. Finkel |
Publisher | : |
Total Pages | : 284 |
Release | : 1971 |
Genre | : Costs, Industrial |
ISBN | : |
Textbook on the economic theory of wages and employment - covers marginal productivity theory, the concept of limitational and limitative factors, labour force as a factor of production, the role of trade unions and collective bargaining, the macro-economic analysis of wages and employment, etc. References.
Author | : Wei Kang Liang |
Publisher | : |
Total Pages | : 154 |
Release | : 1974 |
Genre | : Wages |
ISBN | : |