Contract-Theoretic Approaches to Wages and Displacement

Wouter J. den Haan, Garey Ramey, Joel Watson

This paper develops a theoretical framework for analyzing contracting imperfections in long-term employment relationships. We focus chiefly on limited enforceability and limited worker liquidity. Inefficient severance of employment relationships, payment of efficiency wages, the relative response of wages and employment to business cycle shocks, and the propagation of these shocks are linked to the nature of contracting imperfections

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Year of publication:	February 1999
Authors:	Haan, Wouter J. den
Other Persons:	Ramey, Garey (contributor) ; Watson, Joel (contributor)
Institutions:	National Bureau of Economic Research (contributor)
Publisher:	Cambridge, Mass : National Bureau of Economic Research
Subject:	Theorie \| Theory \| Kündigung \| Dismissal \| Unvollständiger Vertrag \| Incomplete contract \| Lohnbildung \| Wage setting \| Arbeitsvertrag \| Labour contract

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Extent:	1 Online-Ressource
Series:	NBER working paper series ; no. w6972
Type of publication:	Book / Working Paper
Language:	English
Notes:	Mode of access: World Wide Web System requirements: Adobe [Acrobat] Reader required for PDF files Hardcopy version available to institutional subscribers.
Other identifiers:	10.3386/w6972 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

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