1992

最新文章

• REAL WAGE DETERMINATION AND RENT-SHARING IN COLLECTIVE-BARGAINING AGREEMENTS AI翻译
  作者：CHRISTOFIDES, LN; OSWALD, AJ
  作者单位：Dartmouth College; University of London; London School Economics & Political Science
  摘要：The microeconomic forces that influence real wages are not fully understood. This paper studies pay determination using data on approximately 600 labor contracts. It finds that the real wage is an increasing function of past profitability in the employer's industry, and a decreasing function of the level of unemployment in the employer's region. These results are consistent with rent-sharing theories.
• CONSUMER DEMAND AND EQUILIBRIUM UNEMPLOYMENT IN A WORKING MODEL OF THE CUSTOMER-MARKET INCENTIVE-WAGE ECONOMY AI翻译
  作者：PHELPS, ES
  摘要：Though not conceived as a constant, the natural unemployment rate was taken to be invariant to supply shocks until the late seventies and to real demand shocks until now. The largely micro-theoretic model here is one in a series deriving the natural rate path from general equilibrium. In this model the labor market exhibits generalized real-wage rigidity, resulting from the use of incentive wages to combat shirking, and the asset backing shares is the firms' customers, arising from customer-ma...
• ON DIVERSITY AI翻译
  作者：WEITZMAN, ML
  摘要：An oft-repeated goal in many contexts is the preservation of diversity. But what is the diversity function to be optimized? This paper shows how a reasonable measure of the value of diversity of a collection of objects can be recursively generated from more fundamental information about the dissimilarity-distance between any pair of objects in the set. The diversity function is shown to satisfy a basic dynamic programming equation, which in a well-defined sense generates an optimal classificat...
• THE GREAT COMPRESSION - THE WAGE STRUCTURE IN THE UNITED-STATES AT MID-CENTURY AI翻译
  作者：GOLDIN, C; MARGO, RA
  作者单位：National Bureau of Economic Research; Vanderbilt University
  摘要：The era of wage stretching has been a current focus, but we direct attention here to a decade of extraordinary wage compression-the 1940s. Wages narrowed by education, job experience, and occupation, and compression occurred within cells. The 90-10 differential in the log of wages for men was 1.45 in 1940 but 1.06 in 1950. By the late 1980s it returned to its 1940 level, thus restoring a dispersion of 50 years ago. World War II and the National War Labor Board share some credit for the Great C...
• DISCRETIONARY MONETARY-POLICY AND SOCIALLY EFFICIENT WAGE INDEXATION AI翻译
  作者：WALLER, CJ; VANHOOSE, DD
  作者单位：University of Alabama System; University of Alabama Tuscaloosa
• CONSIDERATIONS OF FAIRNESS AND STRATEGY - EXPERIMENTAL-DATA FROM SEQUENTIAL GAMES AI翻译
  作者：PRASNIKAR, V; ROTH, AE
  摘要：Laboratory data from bargaining experiments have started a debate about the prospects for various parts of game theory as descriptive theories of observable behavior, and about whether, to what extent, and how a successful descriptive theory must take into account peoples' perceptions of fairness. Plausible explanations of the observed bargaining phenomena advanced by different investigators lead to markedly different predictions about what should be observed in three different games. A sharp ...
• WHY DOES AGGREGATE INSIDER TRADING PREDICT FUTURE STOCK RETURNS AI翻译
  作者：SEYHUN, HN
  摘要：This paper documents that, for the period from 1975 to 1989, the aggregate net number of open market purchases and sales by corporate insiders in their own firms predicts up to 60 percent of the variation in one-year-ahead aggregate stock returns. This study also examines whether the ability of aggregate insider trading to predict future stock returns can be attributed to changes in business conditions or movements away from fundamentals. Evidence suggests that both explanations contribute to ...