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The paper presents a game-theoretic model in order to investigate to what extent an employee privatization program of a … maximizing the per capita surplus over the wage. The privatization process is then described as a bargaining process between the …
Persistent link: https://www.econbiz.de/10009148015
Firms in equipment-intensive sectors, where investment in production is performed at diminishing marginal cost, spend billions of dollars in equipment and production capacity. Typically, this expenditure is induced by either the replacement of existing equipment, which deteriorates with age and...
Persistent link: https://www.econbiz.de/10008671652
In equipment-intensive sectors — such as water utilities, power generation, gas — billions of dollars are spent in capital equipment. We discuss and characterize the optimal policy of a profit-maximizing firm and compare it with the optimal policy of a welfare-maximizing planner. When there...
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transition economies to estimate the impacts of privatization on employment and wages. The results in all four countries … consistently reject job losses and they never imply large wage cuts from privatization to either foreign or domestic owners. The … domestic privatization estimates are close to zero for employment, while for wages they are negative but small in magnitude …
Persistent link: https://www.econbiz.de/10010268760
transition economies to estimate the impacts of privatization on employment and wages. The results in all four countries … consistently reject job losses and they never imply large wage cuts from privatization to either foreign or domestic owners. The … domestic privatization estimates are close to zero for employment, while for wages they are negative but small in magnitude …
Persistent link: https://www.econbiz.de/10003755531
We analyse – theoretically and empirically – how private versus public ownership of firms affects the degree of rent sharing between firms and their workers. Using a particularly rich linked employer-employee dataset from Portugal, covering a large number of corporate ownership changes...
Persistent link: https://www.econbiz.de/10003959632