Social and Behavioral Sciences | Open Access Articles

Wage Bargaining With Time-Varying Threats, Peter Cramton, Joseph Tracy Jan 1994

Wage Bargaining With Time-Varying Threats, Peter Cramton, Joseph Tracy

Peter Cramton

We study wage bargaining in which the union is uncertain about the firm's willingness to pay and threat payoffs vary over time. Strike payoffs change over time as replacement workers are hired, as strikers find temporary jobs, and as inventories or strike funds run out. We find that bargaining outcomes are substantially altered if threat payoffs vary. If dispute costs increase in the long-run, then dispute durations are longer, settlement rates are lower, and wages decline more slowly during the short-run (and may even increase). The settlement wage is largely determined from the long-run threat, rather than the short-run threat.

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The Determinants Of U.S. Labor Disputes, Peter Cramton, Joseph Tracy Jan 1994

The Determinants Of U.S. Labor Disputes, Peter Cramton, Joseph Tracy

Peter Cramton

We present a bargaining model of union contract negotiations, in which the union decides between two threats: the union can strike or continue to work under the expired contract. The model makes predictions about the level of dispute activity and the form the disputes take. Strike incidence increases as the strike threat becomes more attractive, because of low unemployment or a real wage drop during the prior contract. We test these predictions by estimating logistic models of dispute incidence and dispute composition for U.S. labor contract negotiations from 1970 to 1989. We find empirical support for the model's key predictions, …

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Relational Investing And Agency Theory, Peter Cramton, Ian Ayres Jan 1994

Relational Investing And Agency Theory, Peter Cramton, Ian Ayres

Peter Cramton

This Article analyzes how, and when, corporate governance could be improved by utilizing "relational investing." The term relational investing is just coming into vogue and there does not yet seem to be a consensus on what it means. Although the term has been trumpeted on the cover of Business Week, before the Conference on Relational Investing at Columbia University, relatively little legal writing had been published on the subject. For the purposes of this Article, we define relational investing to encompass commitments to buy and hold significant blocks of a corporation's stock. And it is particularly important that the relational …

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Variations On Two Themes In Durkheim's Division Du Travail: Power, Solidarity And Meaning In Division Of Labor, Dietrich Rueschemeyer Jan 1994

Variations On Two Themes In Durkheim's Division Du Travail: Power, Solidarity And Meaning In Division Of Labor, Dietrich Rueschemeyer

Dietrich Rueschemeyer

No abstract provided.

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Gobiernos Municipales En Ciudades Intermedias De Ecuador. Los Casos De Riobamba Y Santo Domingo De Los Colorados, Fernando Carrión Mena Jan 1994

Gobiernos Municipales En Ciudades Intermedias De Ecuador. Los Casos De Riobamba Y Santo Domingo De Los Colorados, Fernando Carrión Mena

Fernando Carrión Mena

El presente trabajo es producto de un estudio sobre los gobiernos locales en ciudades intermedias de América Latina y, en este caso, de Ecuador. Entre sus principales objetivos están, por un lado, desentrañar la capacidad de respuesta del municipio para encarar las necesidades y problemas de los pobladores de más bajos recursos; y, por otro, aportar en las discusiones que se desarrollan en la actualidad respecto de la crisis municipal, la descentralización y autonomía de los gobiernos locales y, en general, la democracia local. Para encarar tales objetivos se tomó en cuenta las particularidades que se evidencian en las sociedades …

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Inventory, Business Cycles And Monetary Transmission (Ed.), Riccardo Fiorito Jan 1994

Inventory, Business Cycles And Monetary Transmission (Ed.), Riccardo Fiorito

riccardo fiorito

No abstract provided.

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Stylized Facts Of Business Cycles In The G7 From A Real Business Cycles Perspective, Riccardo Fiorito, Tryphon Kollintzas Jan 1994

Stylized Facts Of Business Cycles In The G7 From A Real Business Cycles Perspective, Riccardo Fiorito, Tryphon Kollintzas

riccardo fiorito

This paper investigates the basic stylized facts of business cycles in the G-7 countries using quarterly data (1960-89). The methodology is based on Kydland-Prescott (1990). The evidence suggests that the RBC model can account for several major stylized facts for all seven countries. In particular, consumption is procylical and fluctuates more than output; net exports are countercyclical; prices are countercyclical; government consumption and money do not have a clear cut pattern.

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Regional Unemployment In Italy: Sources And Cures, Maurizio Baussola, Riccardo Fiorito Jan 1994

Regional Unemployment In Italy: Sources And Cures, Maurizio Baussola, Riccardo Fiorito

riccardo fiorito

A regional model of Italy analyzes unemployment responses to supply and demand shocks in the market for labor and goods. Both supply and demand components of unemployment are endogenous. Employment has low elasticity to output in Southern Italy where labor force increases more because of demographic and participation changes. This also makes it difficult to close the gap between this region and the most developed areas of the country.

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Theology And Interpretation: A Footnote To Mcluhan, David Morgan Lochhead Jan 1994

Theology And Interpretation: A Footnote To Mcluhan, David Morgan Lochhead

Dr. David Morgan Lochhead

An exploration of the impact of electronic text on hermeneutics. Lochhead argues that electronic text processing undermines the stability of meaning that is associated with the printed word.

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Tricks Of The Trade For Trade Shows (Part 2), Douglas J. Swanson Ed.D Apr Jan 1994