| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4180 |
| DP4180 Confidence Building on Euro Conversion: Theory and Evidence from Currency Options | |
| Enrico Perotti; Joost Driessen | |
| 发表日期 | 2004-01-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | We analyse a search model of the labour market in which firms and workers meet bilaterally and negotiate over wages in the presence of private information. We show that a fall in labour market frictions induces more aggressive wage bargaining behaviour, which in turn leads to a costly increase in job insecurity. This adverse insecurity effect can be so large that firms and workers who are in an employment relationship can be made worse off by a fall in labour market frictions. In contrast, firms and workers who are not in an employment relationship and are searching the market for a counterpart are always made better off by such a fall in labour market frictions. We then endogenize the organizational structure of the employment relationship and show that a fall in labour market frictions induces a one-off reorganization in which firms and workers switch from a rigid employment relationship to a flexible one. This reorganization leads to a large, one-off increase in job insecurity and unemployment. |
| 主题 | Labour Economics |
| 关键词 | Job insecurity Flexibility of employment relationships Private information |
| URL | https://cepr.org/publications/dp4180 |
| 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/533150 |
| 推荐引用方式 GB/T 7714 | Enrico Perotti,Joost Driessen. DP4180 Confidence Building on Euro Conversion: Theory and Evidence from Currency Options. 2004. |
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