Productivity Shocks, Long-Term Contracts and Earnings Dynamics
نویسندگان
چکیده
منابع مشابه
Productivity Shocks , Dynamic Contracts and Income Uncertainty ∗
This paper examines how employer and worker specific productivity shocks transmit to wage and employment in an economy with search frictions and firm commitment. I develop an equilibrium search model with worker and firm shocks and characterize the optimal contract offered by competing firms to attract and retain workers. In equilibrium risk-neutral firms offer risk-averse workers contingent co...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2020
ISSN: 1556-5068
DOI: 10.2139/ssrn.3727526