Contract-Theoretic Approaches to Wages and Displacement

Wouter J. den Haan, Garey Ramey and Joel Watson ()
Authors registered in the RePEc Author Service: Wouter Denhaan ()

No 6972, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: 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.

JEL-codes: C78 E24 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge, nep-ltv, nep-mic and nep-pke
Date: 1999-02
Note: EFG
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Related works:
Working Paper: Contract-Theoretic Approaches to Wages and Displacement (1999)
Working Paper: Contract-Theoretic Approaches to Wages and Displacement (1999)
Working Paper: Contract-Theoretic Approaches to Wages and Displacement (1999)
Journal Article: Contract-theoretic approaches to wages and displacement (1999)
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