Reputation and earnings dynamics

• 成果类型: Article
• 署名作者: Jovanovic, Boyan; Prat, Julien
• 署名单位: New York University; Centre National de la Recherche Scientifique (CNRS); Institut Polytechnique de Paris; ENSAE Paris
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2020.105158
• 发表日期: 2021
• 关键词: Reputation; career concerns; earnings dynamics; endogenous fluctuations

摘要

Cyclical patterns in earnings can arise when contracts between firms and their workers are incomplete, and when workers cannot borrow or lend so as to smooth their consumption. Effort cycles generate occasional large changes in earnings. These large changes are transitory, consistent with recent empirical findings. (C) 2020 Elsevier Inc. All rights reserved.