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Remuneration systems

Jerger, J. and Michaelis, J. (1995) Remuneration systems. CEPDP (227). London School of Economics and Political Science. Centre for Economic Performance, London, UK.

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In this paper we analyse the impact of different remuneration systems on capital formation and employment at the sectoral and at the aggregate level. We show that, in general, the switch from a Fixed Wage Economy to a Share Economy results in a lower NAIRU. This conclusion is derived by aggregation of the outcome of a three stage-bargaining game at the sectoral level, in which capital stock and employment are chosen by the firm and wages (or share parameters) are negotiated between firms and unions.

Item Type: Monograph (Discussion Paper)
Official URL:
Additional Information: © 1995 the authors
Divisions: Centre for Economic Performance
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HD Industries. Land use. Labor
Date Deposited: 14 Aug 2008 09:23
Last Modified: 16 May 2024 11:18

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