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Abstract

This paper analyzes the time consistent and efficient solution for wages and employment in intertemporal insider-outsider models of bargaining with endogenous membership. When the reservation wage is made endogenous in a general equilibrium context, insider-outsider models can generate a fundamental asymmetry in the adjustment of employment to the steady state. While upturns are gradual, severe downturns are characterized by a sharp drop in employment, obtained by laying off workers. Further reductions in employment are achieved solely through quits. Copyright 1992 by Royal Economic Society.

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Bibliographic Info

Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 102 (1992)
Issue (Month): 415 (November)
Pages: 1451-66

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Handle: RePEc:ecj:econjl:v:102:y:1992:i:415:p:1451-66

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Cited by:

1. Boriss Siliverstovs, 2005. "The Bi-parameter Smooth Transition Autoregressive model," Economics Bulletin, AccessEcon, vol. 3(23), pages 1-11.
2. Eriksson, S. & Gottfries, N., 2000. "Ranking of Job Applicants, On-the-Job Search and Persistent Unemployment," Papers 2000:3, Uppsala - Working Paper Series.
   
   • Eriksson, Stefan & Gottfries, Nils, 2005. "Ranking of job applicants, on-the-job search, and persistent unemployment," Labour Economics, Elsevier, vol. 12(3), pages 407-428, June.
   • Eriksson, Stefan & Gottfries, Nils, 2000. "Ranking of Job Applicants, On-the-job Search and Persistent Unemployment," Working Paper Series 2000:3, Uppsala University, Department of Economics.
   • Eriksson, Stefan & Gottfries, Nils, 2000. "Ranking of job applicants, on-the-job search, and persistent unemployment," Working Paper Series 2000:8, IFAU - Institute for Evaluation of Labour Market and Education Policy.
3. repec:ebl:ecbull:v:3:y:2005:i:23:p:1-11 is not listed on IDEAS
4. repec:oxf:wpaper:059 is not listed on IDEAS
5. Nyssens, Marthe & Van der Linden, Bruno, 2000. "Embeddedness, cooperation and popular-economy firms in the informal sector," Journal of Development Economics, Elsevier, vol. 61(1), pages 175-204, February.
   
   • Nyssens, Marthe & Van der Linden, Bruno, 1998. "Embeddedness, cooperation and popular-economy firms in the informal sector," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1998025, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES), revised 00 Oct 1998.
6. Van der Linden, Bruno, 1997. "Basic income and unemployment in a unionized economy," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1997014, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES), revised 10 Jul 1997.

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