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.
Year of publication: |
1984
|
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Authors: | Siebert, Horst ; Long, Ngo Van |
Institutions: | Fachbereich Wirtschaftswissenschaften, Universität Konstanz |
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