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)
Date: 1999-02
New Economics Papers: this item is included in nep-dge, nep-ltv, nep-mic and nep-pke
Note: EFG
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13)

Published as Wouter J. den Haan & Garey Ramey & Joel Watson, 1999. "Contract-theoretic approaches to wages and displacement," Review, Federal Reserve Bank of St. Louis, issue May, pages 55-68.

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Related works:
Journal Article: 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)
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