-
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.
-
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...
-
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 ...