Financial markets and wages:
"We study a labor market equilibrium model in which firms sign optimal long-term contracts with workers. Firms that are financially constrained offer an increasing wage profile: They pay lower wages today in exchange of higher wages once they become unconstrained and operate at a larger scale....
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge, Mass.
National Bureau of Economic Research
2005
|
| Series: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
11050 |
| Subjects: | |
| Online Access: | Volltext |
| Summary: | "We study a labor market equilibrium model in which firms sign optimal long-term contracts with workers. Firms that are financially constrained offer an increasing wage profile: They pay lower wages today in exchange of higher wages once they become unconstrained and operate at a larger scale. In equilibrium, constrained firms are on average smaller and pay lower wages. In this way the model generates a positive relation between firm size and wages. Using data from the National Longitudinal Survey of Youth (NLSY) we show that the key dynamic properties of the model are supported by the data"--National Bureau of Economic Research web site. |
| Physical Description: | 45 S. graph. Darst. |
Staff View
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| id | DE-604.BV019884980 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T20:08:22Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-013209067 |
| oclc_num | 57655513 |
| open_access_boolean | 1 |
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| physical | 45 S. graph. Darst. |
| publishDate | 2005 |
| publishDateSearch | 2005 |
| publishDateSort | 2005 |
| publisher | National Bureau of Economic Research |
| record_format | marc |
| series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| series2 | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| spelling | Michelacci, Claudio Verfasser (DE-588)129196843 aut Financial markets and wages Claudio Michelacci ; Vincenzo Quadrini Cambridge, Mass. National Bureau of Economic Research 2005 45 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 11050 "We study a labor market equilibrium model in which firms sign optimal long-term contracts with workers. Firms that are financially constrained offer an increasing wage profile: They pay lower wages today in exchange of higher wages once they become unconstrained and operate at a larger scale. In equilibrium, constrained firms are on average smaller and pay lower wages. In this way the model generates a positive relation between firm size and wages. Using data from the National Longitudinal Survey of Youth (NLSY) we show that the key dynamic properties of the model are supported by the data"--National Bureau of Economic Research web site. Ökonometrisches Modell Wages Econometric models Quadrini, Vincenzo Verfasser (DE-588)128972203 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 11050 (DE-604)BV002801238 11050 http://papers.nber.org/papers/w11050.pdf kostenfrei Volltext |
| spellingShingle | Michelacci, Claudio Quadrini, Vincenzo Financial markets and wages National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Ökonometrisches Modell Wages Econometric models |
| title | Financial markets and wages |
| title_auth | Financial markets and wages |
| title_exact_search | Financial markets and wages |
| title_full | Financial markets and wages Claudio Michelacci ; Vincenzo Quadrini |
| title_fullStr | Financial markets and wages Claudio Michelacci ; Vincenzo Quadrini |
| title_full_unstemmed | Financial markets and wages Claudio Michelacci ; Vincenzo Quadrini |
| title_short | Financial markets and wages |
| title_sort | financial markets and wages |
| topic | Ökonometrisches Modell Wages Econometric models |
| topic_facet | Ökonometrisches Modell Wages Econometric models |
| url | http://papers.nber.org/papers/w11050.pdf |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT michelacciclaudio financialmarketsandwages AT quadrinivincenzo financialmarketsandwages |