| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1615 |
| DP1615 Booms and Busts in the UK Housing Market | |
| John Muellbauer; Anthony Murphy | |
| 发表日期 | 1997-03-27 |
| 出版年 | 1997 |
| 语种 | 英语 |
| 摘要 | The paper examines the optimal level of training investment when trained workers are mobile, wage contracts are time-consistent, and training comprises both specific and general skills. It is shown that, in the absence of a social planner, the firm has ex-post monopsonistic power that drives trained workers? wages below the socially-optimal level. The emergence of trade union bargaining at the firm level can increase social welfare, however, by counterbalancing the firm?s ex-post monopsonistic power in wage determination. Local union-firm wage bargaining ensures that the post-training wage is set sufficiently high to deter at least some quits, so that the number of workers the firm trains is nearer the socially-optimal number. The paper therefore sheds some light on the stylized facts that unions are associated with fewer quits and more firm-provided training. |
| 关键词 | Efficiency Monopsony Quits Trade unions Training Wages |
| URL | https://cepr.org/publications/dp1615 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530752 |
| 推荐引用方式 GB/T 7714 | John Muellbauer,Anthony Murphy. DP1615 Booms and Busts in the UK Housing Market. 1997. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
