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This study investigates real wage cyclicality in Portugal for the years of 1986-98, addressing the heterogeneity in …
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jobs. We illustrate the methodology by applying it to data from an annual census of employers in Portugal over the period … 1982-2007. We find that real entry wages in Portugal over this period tend to be about 1.8 percent higher when the …
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data for Portugal covering the period 1986-2004, real wages are shown to be considerably more procyclical during recessions …
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We argue in favour of the shareholder model of the firm for three main reasons. First, serving multiple stakeholders leads to ill-defined property rights. What sounds like a fair compromise between stakeholders can easily evolve in a permanent struggle between the stakeholders about the ultimate...
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