Basu, Kaushik (contributor); Fields, Gary S. (contributor); … - 2007
model reveals that an anti-retrenchment law can cause wages and employment to rise or fall, depending on the parametric … raises wages and employment. In a subsequent section we assume that the law specifies exogenously the amount of compensation …, equilibrium wages fall. However beyond a certain point, further rises in s cause wages to rise. In other words, the relation …