Dalmazzo, Alberto (1991) Firms' debt and finite-horizon wage bargaining. CEP discussion paper, 54. Centre for Economic Performance, London School of Economics and Political Science, London, UK.Full text not available from this repository.
The simple bargaining mode presented here analyses the effect of a predetermined level of debt repayment commitments on the wage bargaining process between a firm and its workforce. Even if the bargaining process between a firm and its workforce. Even if the bargaining structure is basically derived from Rubinstein (1982), the presence of debt''s interests maturing over time is shown to imply finiteness in the bargaining horizon. The main consequence is that, in contrast with Rubinstein (1982), the parties'' outside options always enter the perfect equilibrium payoffs, justifying their presence in the econometric specifications.
|Item Type:||Monograph (Discussion Paper)|
|Additional Information:||© 1991 Alberto Dalmazzo|
|Library of Congress subject classification:||H Social Sciences > HD Industries. Land use. Labor|
|Sets:||Collections > Economists Online
Research centres and groups > Centre for Economic Performance (CEP)
|Date Deposited:||21 Aug 2008 11:22|
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