摘要:

ABSTRACTThis paper outlines the development and exposits some of the central ideas and implications of asymmetric information in the credit market.

ISSN:0307-3378    

DOI:10.1111/j.1467-8586.1993.tb00571.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

ABSTRACTThis paper analyses the consequences of future policy uncertainty on the allocation of effort in an economy undergoing reforms. We demonstrate that uncertainty regarding future tax policies may reduce present effort, and will also reduce the responsiveness of output to productivity shocks and other market signals. The discussion has relevance for cases in which privatization will make present managers of firms the future owners and residual claimants to future output. An expectation that the purchasing price of the firm will have a positive relationship to present output will induce the manager to reduce contemporaneous effort, and uncertainty regarding the relationship will also depress present managerial effort.

ISSN:0307-3378    

DOI:10.1111/j.1467-8586.1993.tb00572.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

ABSTRACTThis paper uses a unique data set of unemployed semi‐skilled workers to examine the relationship between reservation wages and the decision to queue for a union sector job. Estimation of selected reservation wage equations indicates that the failure of all previous estimates to model the queuing decision results in biased coefficients. Those workers who queue for a union job are subject to a distinct reservation wage formation process which differs from those not queuing. Moreover, a structural estimate of the queuing decision demonstrates that workers with the greatest differences between estimated reservation wages in the union and non‐union sector are the most likely to queue. This estimate of the queuing decision stands as one of the few which focus on unemployed workers. Among other results, women and minorities are more likely to queue for union jobs, all else eq

ISSN:0307-3378    

DOI:10.1111/j.1467-8586.1993.tb00573.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

ISSN:0307-3378    

DOI:10.1111/j.1467-8586.1993.tb00574.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY