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Getting Tough With Workers: More On The Strategic Role Of Debt

In: Advances In Development Economics

Author

Listed:
  • Gerald Garvey

    (Barklays global Investors, USA)

  • Noel Gaston

    (Bond University, Australia)

Abstract

The following sections are included:IntroductionThe ModelPermanent AssumptionsFirms Unilaterally Set WagesThe Case of Negotiated WagesSummaryEmpirical EvidenceData DescriptionMeasures of debt policyMeasures of employee compensationOther variablesThe Empirical Model and ResultsFurther Results on the Measurement of Wages and Capital StructureAlternative measures of debtThe endogeneity of wagesConclusionAppendixSolutions for the Uniform Distribution CaseComparison of wu and weReferences

Suggested Citation

  • Gerald Garvey & Noel Gaston, 2008. "Getting Tough With Workers: More On The Strategic Role Of Debt," World Scientific Book Chapters, in: Dipak Basu (ed.), Advances In Development Economics, chapter 5, pages 87-106, World Scientific Publishing Co. Pte. Ltd..
  • Handle: RePEc:wsi:wschap:9789812834881_0005
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    Citations

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    Cited by:

    1. Koskela, E. & Stenbacka, R., 2000. "Capital Structure, Wage Bargaining and Employment," University of Helsinki, Department of Economics 475, Department of Economics.
    2. Koskela, Erkki & Stenbacka, Rune, 2003. "Profit Sharing and Unemployment: An Approach with Bargaining and Efficiency Wage Economics," Discussion Papers 863, The Research Institute of the Finnish Economy.
    3. Gary Gorton & Frank Schmid, 2000. "Class Struggle Inside the Firm: A Study of German Codetermination," NBER Working Papers 7945, National Bureau of Economic Research, Inc.

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