Showing 731 - 735 of 735
We propose an explanation for the growth of executive pay since the 1980s. New information and communication technologies (ICTs) appear to favor winner-take-all markets and to accentuate firm-level volatility of profits. We show, using an efficiency wage model, that these changes lead to higher...
Persistent link: https://www.econbiz.de/10011137421
Persistent link: https://www.econbiz.de/10006827839
Most Kaleckian models assume a perfectly elastic labor supply, an assumption that is questionable for many developed economies. This paper presents simple labor-constrained Kaleckian models and uses these models to compare the implications of financialization under labor-constrained and...
Persistent link: https://www.econbiz.de/10010701885
Following an analysis of the relation between a standard Steindlian model of stagnation and Steindl's own analysis, we modify the standard model by introducing endogenous changes in the mark-up and a reformulation of the investment function. These extensions, which address significant weaknesses...
Persistent link: https://www.econbiz.de/10005659057
This paper analyses the influence of norms of fairness on wage formation. Fairness is defined by `real-wage' and `relative-wage' norms that relate wage offers to workers' own current wage and to the wages of other groups of workers, and, to avoid shirking, firms pay fair wages. The wage norms...
Persistent link: https://www.econbiz.de/10005114051