Lay-off restraints, employment subsidies, and the demand for labour

The paper introduces the concept of a firm's normal employment level as a weighted average of past employment levels and it analyzes the impact of an incentive scheme in which a firm receives a reward (or pays a penalty) when it deviates above (below) its normal employment level. The result is that such an institutional setting may imply a cyclical demand in labour. Thus, institutional arrangements may .be responsible for business cycles.

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Year of publication:	1984
Authors:	Siebert, Horst ; Long, Ngo Van
Publisher:	Konstanz : Universität Konstanz, Fakultät für Wirtschaftswissenschaften und Statistik

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Series:	Diskussionsbeiträge - Serie A ; 190
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	68760544X [GVK] hdl:10419/68897 [Handle] RePEc:zbw:kondp1:190 [RePEc]
Source:	EconStor

Persistent link: https://www.econbiz.de/10010311245