G2TT
来源类型Discussion paper
规范类型论文
来源IDDP4180
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
URLhttps://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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