Publication in refereed journal
香港中文大学研究人员 ( 现职)
| 廖柏伟教授 (经济学系) |
全文
| 数位物件识别号 (DOI) http://dx.doi.org/10.1016/S0927-5371(00)00008-7 |
引用次数
Web of Sciencehttp://aims.cuhk.edu.hk/converis/portal/Publication/0WOS source URL
其它资讯
摘要This paper analyzes the effect of recontracting and matching verifiable wage offers on the intertemporal structure of contract wage and consumption profile for a two-period economy. A contract firm provides specific training for a worker during the first period, which increases his productivity if he stays in the second period, but the worker may quit to accept an alternative wage offer after a successful search. Wage offers are private to the worker but can be presented to the contract firm for matching. This paper shows that when capital markets are imperfect and wage offers are verifiable, the contract firm recontracts and matches any wage offers the worker receives up to the second-period productivity. The ex ante contract wage profile will be flat. Inefficient quits will be eliminated and there will be complete ex ante consumption smoothing. It is significant to note that the result of rising wage profile derived in numerous contract models is fragile with respect to assumptions on mechanism of interfirm labor mobility. (C) 2http://aims.cuhk.edu.hk/converis/portal/Publication/0http://aims.cuhk.edu.hk/converis/portal/Publication/0http://aims.cuhk.edu.hk/converis/portal/Publication/0 Elsevier Science B.V. All rights reserved. JEL classification: D82; D83; J31.
着者Lam KC, Liu PW
期刊名称Labour Economics
出版年份2http://aims.cuhk.edu.hk/converis/portal/Publication/0http://aims.cuhk.edu.hk/converis/portal/Publication/0http://aims.cuhk.edu.hk/converis/portal/Publication/0
月份7
日期1
卷号7
期次4
出版社ELSEVIER SCIENCE BV
页次449 - 462
国际标準期刊号http://aims.cuhk.edu.hk/converis/portal/Publication/0927-5371
语言英式英语
关键词recontracting; wage offer; wage profile
Web of Science 学科类别Business & Economics; Economics; ECONOMICS
