| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1696 |
| DP1696 High-Tech Firms and Credit Rationing | |
| Luigi Guiso | |
| 发表日期 | 1997-10-31 |
| 出版年 | 1997 |
| 语种 | 英语 |
| 摘要 | This paper analyses the impact of labour demand and labour market regulations on the corporate structure of fims. It finds that higher wages are associated with lower monitoring, irrespective of whether these high wages are caused by labour market regulations, unions or higher labour demand. These comparative static results are in line with the broad trends in the data. The paper also finds that the organization of firms has important macroeconomic implications. In particular, monitoring is a type of ?rent-seeking? activity and the decentralized equilibrium spends excessive resources on monitoring. Labour market regulations that reduce monitoring by pushing wages up may increase net output or reduce it only by a small amount even though they reduce employment. |
| 主题 | International Macroeconomics |
| 关键词 | Corporate structure Efficiency wages Labour market regulation Monitoring Moral hazard |
| URL | https://cepr.org/publications/dp1696 |
| 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/530839 |
| 推荐引用方式 GB/T 7714 | Luigi Guiso. DP1696 High-Tech Firms and Credit Rationing. 1997. |
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