全球智库信息集成服务系统(G2TT): DP5649 Incentives for Managers and Inequality Among Workers: Evidence from a Firm Level Experiment

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP5649
	DP5649 Incentives for Managers and Inequality Among Workers: Evidence from a Firm Level Experiment
	Oriana Bandiera; Iwan Barankay; Imran Rasul
发表日期	2006-04-28
出版年	2006
语种	英语
摘要	In an attempt to clean up an unruly literature, we specify the necessary and sufficient conditions for household optimality in a model where money is the only financial asset and provide the relevant proofs. We use our results to analyse when deflationary bubbles can and cannot exist. Our findings are in contrast to the results in several prominent contributions to the literature. We argue for particular specifications of the no-Ponzi-game restrictions on the household's and government's intertemporal budget constraints in a model with money and bonds. Using the restriction on the household we derive the necessary and sufficient conditions for household optimality. The resulting equilibrium terminal conditions are then used to demonstrate that the existence of bonds does not affect when deflationary bubbles can and cannot occur. This result differs from that in other recent works.
主题	International Macroeconomics
关键词	Deflationary bubbles Transversatility conditions
URL	https://cepr.org/publications/dp5649
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/534505
推荐引用方式 GB/T 7714	Oriana Bandiera,Iwan Barankay,Imran Rasul. DP5649 Incentives for Managers and Inequality Among Workers: Evidence from a Firm Level Experiment. 2006.