Contract-Theoretic Approaches to Wages and Displacement

Wouter J. den Haan, Garey Ramey and Joel Watson

University of California at San Diego, Economics Working Paper Series from Department of Economics, UC San Diego

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 responses of wages and employment to business cycle shocks, and the propagation of these shocks are linked to the nature of contracting imperfections.

Keywords: wates; business cycle shocks (search for similar items in EconPapers)
Date: 1999-01-01
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Citations: View citations in EconPapers (10)

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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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Persistent link: https://EconPapers.repec.org/RePEc:cdl:ucsdec:qt8h0480sk

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