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Efficiency Wages Versus Insiders and Outsiders
Lindbeck, Assar; Snower, Dennis J. - C.E.P.R. Discussion Papers - 1986
This paper compares two theories of involuntary unemployment: the efficiency-wage theory and the insider … unemployment is to explain why there is no underbidding, and we compare the two theories in this contex. …
Persistent link: https://www.econbiz.de/10005661489
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International Rent Sharing in Multinational Firms
Budd, John W; Konings, Jozef; Slaughter, Matthew - C.E.P.R. Discussion Papers - 2002
We use a unique firm-level panel data set of multinational parents and their foreign affiliates to analyse whether profits are shared across borders within multinational firms. Using both fixed-effects and generalized method-of-moments estimators, affiliate wage levels are estimated to respond...
Persistent link: https://www.econbiz.de/10005124227
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Rural-Urban Migration and Unemployment: Theory and Policy Implications
Zenou, Yves - C.E.P.R. Discussion Papers - 2010
We develop a regional model where, in the city, unemployment prevails because of too high (efficiency) wages, while, in … that it is unique. We then consider two policies: decreasing urban unemployment benefits and subsidizing urban employment …. We find that decreasing the unemployment benefit in the city creates urban jobs and reduces rural-urban migration since …
Persistent link: https://www.econbiz.de/10008784746
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Monitoring and Pay: An Experiment on Employee under Endogenous Supervision
Dittrich, Dennis; Kocher, Martin - C.E.P.R. Discussion Papers - 2006
We present an experimental test of a shirking model where monitoring intensity is endogenous and effort a continuous variable. Wage level, monitoring intensity and consequently the desired enforceable effort level are jointly determined by the maximization problem of the firm. As a result,...
Persistent link: https://www.econbiz.de/10005791680
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Efficiency Wages Revisited: The Internal Reference Perspective
Danthine, Jean-Pierre; Kurmann, Andre - C.E.P.R. Discussion Papers - 2004
The missing wage rigidity in general equilibrium models of efficiency wages is an artifact of the external wage reference perspective conventionally adopted by the literature. Efficiency wage models based on an internal wage reference perspective are capable of generating strong wage rigidity....
Persistent link: https://www.econbiz.de/10005124415
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The Business Cycle Implications of Reciprocity in Labour Relations
Danthine, Jean-Pierre; Kurmann, Andre - C.E.P.R. Discussion Papers - 2007
We develop a reciprocity-based model of wage determination and incorporate it into a modern dynamic general equilibrium framework. We estimate the model and find that, among potential determinants of wage policy, rent-sharing (between workers and firms) and a measure of wage entitlement are...
Persistent link: https://www.econbiz.de/10005136735
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The Labour Market and Corporate Structure
Acemoglu, Daron; Newman, Andrew - C.E.P.R. Discussion Papers - 1997
This paper analyses the impact of labour demand and labour market regulations on the corporate structure of fims. It finds that higher wages are associated with lower monitoring, irrespective of whether these high wages are caused by labour market regulations, unions or higher labour demand....
Persistent link: https://www.econbiz.de/10005504251
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The Macroeconomic Consequences of Reciprocity in Labour Relations
Danthine, Jean-Pierre; Kurmann, Andre - C.E.P.R. Discussion Papers - 2005
We develop and analyse a structural model of efficiency wages founded on reciprocity. Workers are assumed to face an explicit trade-off between the disutility of providing effort and the psychological benefit of reciprocating the gift of a wage offer above some reference level. The model...
Persistent link: https://www.econbiz.de/10005504485
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Fair Wages in a New Keynesian Model of the Business Cycle
Danthine, Jean-Pierre; Kurmann, Andre - C.E.P.R. Discussion Papers - 2002
We build a New Keynesian model of the business cycle with sticky prices and real wage rigidities motivated by efficiency wages of the gift exchange variety. Compared to a standard sticky price model, our Fair Wage model provides an explanation for structural employment and generates more...
Persistent link: https://www.econbiz.de/10005067494
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Relational Contracts and Competitive Screening
Calzolari, Giacomo; Spagnolo, Giancarlo - C.E.P.R. Discussion Papers - 2009
We study the tension between competitive screening and contract enforcement where a principal trades repeatedly with one among several agents, moral hazard and adverse selection coexist, and non-contractible dimensions are governed by relational contracting. We simultaneously characterize...
Persistent link: https://www.econbiz.de/10005082534