İşletme Fakültesi Araştırma Semineri | Ekonomi| Jonathan Thomas

Tarih: Salı, Mayıs 21
Saat: 15:00-16:00
Zoom (begum.guney@ozyegin.edu.tr)

Konuşmacı: Jonathan Thomas  -  The University of Edinburgh


Başlık: Implicit contracts and asymmetric pass through of  productivity shocks

Özet: We document distinctive empirical features of wage pass through in Germany that are consistent with limited-commitment contracting in the presence of both idiosyncratic and nonstationary aggregate productivity components. These empirical features are hard to reconcile with the predictions of search models based on period-by-period Nash bargaining over match surplus and with the predictions of financial models where risk-neutral firms may costlessly shield risk-averse workers from idiosyncratic shocks (Guiso et al. 2005).