| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4854 |
| DP4854 Central Bank Forecasts and Disclosure Policy: Why it Pays to be Optimistic | |
| Sylvester Eijffinger; Mewael F. Tesfaselassie | |
| 发表日期 | 2005-01-23 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | We study a labour 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. |
| 主题 | International Macroeconomics ; Labour Economics |
| 关键词 | Investment financing Long-term contracts Wages |
| URL | https://cepr.org/publications/dp4854 |
| 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/533762 |
| 推荐引用方式 GB/T 7714 | Sylvester Eijffinger,Mewael F. Tesfaselassie. DP4854 Central Bank Forecasts and Disclosure Policy: Why it Pays to be Optimistic. 2005. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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