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Contract-Theoretic Approaches to Wages and Displacement / Wouter J. den Haan, Garey Ramey, Joel Watson.
- Format:
- Book
- Author/Creator:
- den Haan, Wouter J.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w6972.
- NBER working paper series no. w6972
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1999.
- Summary:
- This paper develops a theoretical framework for analyzing contracting imperfections in long-term employment relationships. We focus chiefly on limited enforceability and limited worker liquidity. Inefficient severance of employment relationships, payment of efficiency wages, the relative response of wages and employment to business cycle shocks, and the propagation of these shocks are linked to the nature of contracting imperfections.
- Notes:
- Print version record
- February 1999.
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