Labor Market Regulation Under Self-Enforcing Contracts PDF Download
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Author: Sahin Avcioglu
Publisher:
ISBN:
Category :
Languages : en
Pages : 65
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Book Description
This paper examines the effects of various labor market institutions on the welfare of workers and employers. We consider self-enforcing contracts between risk-averse workers and risk-neutral employers in a labor market with search frictions. Employers promise to smooth out shocks to wages while workers promise long-term commitment to employers. In this environment, any regulatory policy can make it easier or harder for employers to keep their promise of wage smoothing, thus influencing the benefit accruing to each party. In our approach, we analyze the joint effect of policies by distinguishing between the financing and spending of funds used in the regulation of the labor market. With regard to financing, firing taxes strictly dominate hiring and payroll taxes on efficiency grounds, whereas the relative ranking of hiring and payroll taxes depend on the type of equilibrium that realizes. On the spending side, while unemployment payment increases workers' welfare at the expense of employers, in-work benefit in the form of a one-off wage subsidy leaves workers' welfare intact but may increase the welfare of employers.
Author: Sahin Avcioglu
Publisher:
ISBN:
Category :
Languages : en
Pages : 65
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Book Description
This paper examines the effects of various labor market institutions on the welfare of workers and employers. We consider self-enforcing contracts between risk-averse workers and risk-neutral employers in a labor market with search frictions. Employers promise to smooth out shocks to wages while workers promise long-term commitment to employers. In this environment, any regulatory policy can make it easier or harder for employers to keep their promise of wage smoothing, thus influencing the benefit accruing to each party. In our approach, we analyze the joint effect of policies by distinguishing between the financing and spending of funds used in the regulation of the labor market. With regard to financing, firing taxes strictly dominate hiring and payroll taxes on efficiency grounds, whereas the relative ranking of hiring and payroll taxes depend on the type of equilibrium that realizes. On the spending side, while unemployment payment increases workers' welfare at the expense of employers, in-work benefit in the form of a one-off wage subsidy leaves workers' welfare intact but may increase the welfare of employers.
Author: James William Maw
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: United States. National Labor Relations Board. Office of the General Counsel
Publisher: U.S. Government Printing Office
ISBN:
Category : Law
Languages : en
Pages : 68
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Book Description
Author: Martin Dumav
Publisher:
ISBN:
Category : Industrial productivity
Languages : en
Pages : 66
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Book Description
We show theoretically that, in the presence of persistent productivity shocks, the reliance on self-enforcing contracts due to limited legal enforcement may provide a possible rationale why countries with the worse rule of law might exhibit: (i) higher aggregate TFP volatilities, (ii) larger dispersion of firm-level productivity, and (iii) greater wage inequality. We also provide suggestive empirical evidence consistent with the model's aggregate implications. Finally, we relate the model's firm-level implications to existing empirical findings.
Author: Arnab K. Basu
Publisher:
ISBN:
Category :
Languages : en
Pages : 39
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Book Description
Fixed-term contract employment has increasingly replaced regular open-ended employment as the predominant form of employment notably in developing countries. Guided by factory-level evidence showing nuanced patterns of co-movements of regular and contract wages, we propose a two-tiered task based model with self-enforcing contracts in which firms allocate complex tasks to long term employees at incentive compatible wages, and routine tasks to fixed term employees at acceptable wages.We show that the advent of contract employment effectively lowers the cost of maintaining worker discipline, and demonstrate the conditions under which a positive change in labor demand can end up increasing the share of contract employees. We then argue that the contract employment phenomenon sheds light on two margins of hiring distortions - respectively task assignment and total employment distortions - against which the effectiveness of a suite of oft proposed labor market exibility policies should be assessed.
Author: Richard C. Bernhard
Publisher:
ISBN:
Category : Labor
Languages : en
Pages : 48
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Book Description
Author: J. Thomas
Publisher:
ISBN:
Category : Economics
Languages : en
Pages :
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Book Description
Author: United States
Publisher:
ISBN:
Category : Law
Languages : en
Pages : 1506
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Book Description
"The United States Code is the official codification of the general and permanent laws of the United States of America. The Code was first published in 1926, and a new edition of the code has been published every six years since 1934. The 2012 edition of the Code incorporates laws enacted through the One Hundred Twelfth Congress, Second Session, the last of which was signed by the President on January 15, 2013. It does not include laws of the One Hundred Thirteenth Congress, First Session, enacted between January 2, 2013, the date it convened, and January 15, 2013. By statutory authority this edition may be cited "U.S.C. 2012 ed." As adopted in 1926, the Code established prima facie the general and permanent laws of the United States. The underlying statutes reprinted in the Code remained in effect and controlled over the Code in case of any discrepancy. In 1947, Congress began enacting individual titles of the Code into positive law. When a title is enacted into positive law, the underlying statutes are repealed and the title then becomes legal evidence of the law. Currently, 26 of the 51 titles in the Code have been so enacted. These are identified in the table of titles near the beginning of each volume. The Law Revision Counsel of the House of Representatives continues to prepare legislation pursuant to 2 U.S.C. 285b to enact the remainder of the Code, on a title-by-title basis, into positive law. The 2012 edition of the Code was prepared and published under the supervision of Ralph V. Seep, Law Revision Counsel. Grateful acknowledgment is made of the contributions by all who helped in this work, particularly the staffs of the Office of the Law Revision Counsel and the Government Printing Office"--Preface.
Author: Daniel P. Kessler
Publisher: University of Chicago Press
ISBN: 0226432181
Category : Business & Economics
Languages : en
Pages : 344
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Book Description
The efficacy of various political institutions is the subject of intense debate between proponents of broad legislative standards enforced through litigation and those who prefer regulation by administrative agencies. This book explores the trade-offs between litigation and regulation, the circumstances in which one approach may outperform the other, and the principles that affect the choice between addressing particular economic activities with one system or the other. Combining theoretical analysis with empirical investigation in a range of industries, including public health, financial markets, medical care, and workplace safety, Regulation versus Litigation sheds light on the costs and benefits of two important instruments of economic policy.
Author: Bruce E. Kaufman
Publisher: Cornell University Press
ISBN: 9780913447888
Category : Business & Economics
Languages : en
Pages : 388
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Book Description
Developing a strong theoretical base for research and practice in industrial relations and human resource management has to date remained a largely unfulfilled challenge. This text presents contributions from 15 scholars, developing their perspectives on work and the employment relationship.
