Reputation and earnings dynamics
Résumé
Cyclical patterns in earnings can arise when contracts between firms and their workers are incomplete, and when workers cannot borrow or lend so as to smooth their consumption. Effort cycles generate occasional large changes in earnings. These large changes are transitory, consistent with recent empirical findings.
Domaines
Economies et financesOrigine | Fichiers produits par l'(les) auteur(s) |
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