Truth or Macroeconomic Consequences: The Demise of References in the United States
Since the early 1970s, there has been a dramatic change in the way firms handle reference requests. Before 1970, firms would willingly provide detailed information about a former employee's job performance. More recently , firms have become reluctant to provide information due to a perceived increase in either the frequency of employee defamation suits or the magnitude of the settlements. This paper develops a model in which firms willingly provide references when associated costs are low, but cease providing references when costs rise dramatically. This model predicts several consequences of such a decline in the use of references; a key prediction is an increase in the natural rate of unemployment.
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|Date of creation:||Jan 1997|
|Publication status:||Published in Journal of Post Keynesian Economics, Spring 2000, Vol. 22:3, pp. 461-487.|
|Contact details of provider:|| Phone: (508)793-3362|
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Web page: http://www.holycross.edu/departments/economics/website/
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