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Theory predicts that the wage effects of government-mandated severance payments depend on workers' and firms' relative … bargaining power. This paper estimates the effect of employment protection legislation (EPL) on workers' individual wages in a …
Persistent link: https://www.econbiz.de/10009304316
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. We solve (i) for the Markov perfect equilibria with no commitment, under the assumption that the union chooses wages each … entire (infinite) sequence of wages. We conclude that the speed of adjustment of employment, that is higher in the … employment and wages only in the no-commitment case, i.e., the higher the relevance of adjustment costs the higher the wage and …
Persistent link: https://www.econbiz.de/10011339692
. We solve (i) for the Markov perfect equilibria with no commitment, under the assumption that the union chooses wages each … entire (infinite) sequence of wages. We conclude that the speed of adjustment of employment, that is higher in the … employment and wages only in the no-commitment case, i.e., the higher the relevance of adjustment costs the higher the wage and …
Persistent link: https://www.econbiz.de/10001567020
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Persistent link: https://www.econbiz.de/10002435269
In many countries, the termination of employment contracts has to be either on employer initiative or on employee initiative. Furthermore, the cost of the procedure is borne mainly by the contracting party who takes the initiative and there is little room for sharing costs. The implicit doctrine...
Persistent link: https://www.econbiz.de/10012026231
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