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This paper studies investment incentives in the steady state of a dynamic bilateral matching market. Because of search … underinvestment on both sides of the market. But when market frictions become negligible, the equilibrium investment levels tend …
Persistent link: https://www.econbiz.de/10003875985
This paper studies the innovation dynamics of an oligopolistic industry. The firms compete not only in the output market but also by engaging in productivity enhancing innovations to reduce labor costs. Rent sharing may generate productivity dependent wage differentials. Productivity growth...
Persistent link: https://www.econbiz.de/10003942451
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