Cyclical Variations in the Labour Input : A Comparison of Capitalist and Labour-Managed Firms
AbstractAn important question is whether the responses to cyclical variations in demand are different for a capitalist firm (CF) and a labour-managed firm (LMF) within a particular economy. The focus of this paper is how a given change in the labour input would be divided between its three components : employment, hours and effort. The existence of a bilateral monopoly in the F employment relation, together with a differing response to a deterioration in the labour market, leads us to conclude that, relative to the CF, the LMF will reduce effort more and employment less in a downturn.
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Bibliographic InfoPaper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 226.
Length: 23 pages
Date of creation: 1982
Date of revision:
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