On Footloose Industries, Asymmetric Information and Wage Bargaining
AbstractIf capital becomes internationally mobile but labor does not, is the bargaining outcome for workers worsened? In this paper we show that the answer to this question depends critically on the information structure of the bargaining process. In particular, we demonstrate a hitherto underappreciated informational role of capital mobility in determining the distribution of output between workers and employers. In doing so we bring together three strands of literature not often seen together--incentive compatible contracting, union-employer bargaining, and the consequences of capital mobility.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 4095.
Date of creation: Oct 2003
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Other versions of this item:
- Chau, Nancy H. & Kanbur, Ravi, 2003. "On Footloose Industries, Asymmetric Information,And Wage Bargaining," Working Papers 127254, Cornell University, Department of Applied Economics and Management.
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
- F2 - International Economics - - International Factor Movements and International Business
- J5 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining
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