| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5994 |
| DP5994 Not All Oil Price Shocks Are Alike: Disentangling Demand and Supply Shocks in the Crude Oil Market | |
| Lutz Kilian | |
| 发表日期 | 2006-12-10 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | We present an experimental test of a shirking model where monitoring intensity is endogenous and effort a continuous variable. Wage level, monitoring intensity and consequently the desired enforceable effort level are jointly determined by the maximization problem of the firm. As a result, monitoring and pay should be complements. In our experiment, between and within treatment variation is qualitatively in line with the normative predictions of the model under selfishness assumptions. Yet, we also find evidence for reciprocal behavior. The data analysis shows, however, that it does not pay for the employer to rely on the reciprocity of employees. |
| 主题 | Labour Economics |
| 关键词 | Incentive contracts supervision Efficiency wages Experiment Incomplete contracts Reciprocity |
| URL | https://cepr.org/publications/dp5994 |
| 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/534829 |
| 推荐引用方式 GB/T 7714 | Lutz Kilian. DP5994 Not All Oil Price Shocks Are Alike: Disentangling Demand and Supply Shocks in the Crude Oil Market. 2006. |
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