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Agell, Jonas; Bennmarker, Helge - CESifo - 2003

wage rigidity can be traced to behavioral mechanisms involving negative reciprocity, relative wage comparisons and money …

Persistent link: https://www.econbiz.de/10005406061

Wage Policy and Endogenous Wage Rigidity: A Representative View From the Inside

Agell, Jonas; Bennmarker, Helge - CESifo - 2002

We report the results from a representative survey of human resource managers in 885 Swedish firms. We estimate that during the severe recession of the 1990s, only 1.1 percent of workers took a cut in regular nominal pay. We trace the lack of wage moderation to a combination of exogenous...

Persistent link: https://www.econbiz.de/10005051594

Why are Small Firms Different? Managers’ Views

Agell, Jonas - CESifo - 2003

monitoring ability; (iii) large units are more prone to indicate that negative reciprocity is important, and that their employees …

Persistent link: https://www.econbiz.de/10005196276

Structural Distortions and Decentralized Fiscal Policies in EMU

Beetsma, Roel; Bovenberg, Lans - CESifo - 2001

The combination of discretionary monetary policy, labor-market distortions and nominal wage rigidity yields an inflation bias as monetary policy tries to exploit nominal wage contracts to address labour-market distortions Although an inflation target eliminates this inflation bias, it creates a...

Persistent link: https://www.econbiz.de/10005765964

International Outsourcing under Monopolistic Competition: Winners and Losers

Do, Viet; Long, Ngo Van - CESifo - 2007

We show that, even with flexible domestic wages, international outsourcing may worsen the welfare of the home country and reduce the profits of all firms. If wages are rigid, outsourcing is welfare-improving if and only if the sum of the “trade creation” effect and the “exploitation...

Persistent link: https://www.econbiz.de/10005766050

The Pathological Export Boom and the Bazaar Effect - How to Solve the German Puzzle

Sinn, Hans-Werner - CESifo - 2006

Germany is the laggard of Europe, yet the country is world champion in merchandise exports. The paper tries to solve this theoretical and empirical puzzle by diagnosing a “pathological export boom” and a “bazaar effect”. Excessively high wages defended by unions and the welfare state...

Persistent link: https://www.econbiz.de/10005405720

Fair Pay and a Wagebill Argument for Wage Rigidity and Excessive Employment Variability

Thomas, Jonathan - CESifo - 2000

This paper considers a two-period optimal contracting model in which firms make new hires in the second period subject to the constraint that they cannot pay discriminate either against or in favour of the new hires. Under an assumption on the information available to workers, it is shown that...

Persistent link: https://www.econbiz.de/10005406092

You Owe Me

Malmendier, Ulrike M.; Schmidt, Klaus - CESifo - 2012

In many cultures and industries gifts are given in order to influence the recipient, often at the expense of a third party. Examples include business gifts of firms and lobbyists. In a series of experiments, we show that, even without incentive or informational effects, small gifts strongly...

Persistent link: https://www.econbiz.de/10010877662

Reciprocity, World Prices and Welfare

Raimondos-Møller, Pascalis; Woodland, Alan D. - CESifo - 2011

We examine in detail the circumstances under which reciprocity, as defined in Bagwell and Staiger (1999), leads to … fixed world prices. We show that a change of tariffs satisfying reciprocity does not necessarily imply constant world prices … reciprocity and constant world prices, these reforms do not follow from the reciprocity condition, but rather from the requirement …

Persistent link: https://www.econbiz.de/10009324094

Managerial Payoff and Gift Exchange in the Field

Englmaier, Florian; Leider, Stephen G. - CESifo - 2012

We conduct a field experiment where we vary both the presence of a gift exchange wage and the effect of the worker’s effort on the manager’s payoff. The results indicate a strong complementarity between the initial wage gift and the agent’s ability to “repay the gift”. We collect...

Persistent link: https://www.econbiz.de/10009421689