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Lay-off restraints, employment subsidies, and the demand for labour

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  • Siebert, Horst
  • Long, Ngo Van

Abstract

The paper introduces the concept of a firm's normal employment level as a weighted average of past employment levels and it analyzes the impact of an incentive scheme in which a firm receives a reward (or pays a penalty) when it deviates above (below) its normal employment level. The result is that such an institutional setting may imply a cyclical demand in labour. Thus, institutional arrangements may .be responsible for business cycles.

Suggested Citation

  • Siebert, Horst & Long, Ngo Van, 1984. "Lay-off restraints, employment subsidies, and the demand for labour," Discussion Papers, Series I 190, University of Konstanz, Department of Economics.
  • Handle: RePEc:zbw:kondp1:190
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    1. Gale, David, 1973. "Pure exchange equilibrium of dynamic economic models," Journal of Economic Theory, Elsevier, vol. 6(1), pages 12-36, February.
    2. Richardson, Martin & Wilkie, Simon, 1995. "Incremental R&D Subsidies," Journal of Regulatory Economics, Springer, vol. 7(2), pages 161-175, March.
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