Financing Constraints and Fixed-term Employment Contracts*
نویسندگان
چکیده
منابع مشابه
Financing Constraints and Fixed-Term Employment Contracts
The aim of this paper is to identify the effect of financing constraints on the employment decisions of firms. We present a theoretical model that determines the optimal use of fixed term and permanent contracts in the presence of financing constraints. We then estimate the effect of financing constraints on the dynamics of fixed-term employment contracts versus permanent employment contracts f...
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We consider a model in which a principal must both repay a loan and motivate an agent to work hard. Output is non-contractible, so the principal faces a commitment problem with both her creditor and her agent. In a profit-maximizing equilibrium, the agent’s productivity is initially low and increases over time. Productivity continues increasing even after the debt has been repaid, eventually co...
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We explore the relationship between education, earnings and fixed-term contracts using data from the 1997 British Social Attitudes Survey and the 1997 International Social Survey Programme . We find that workers employed under such contracts earn significantly lower wages than their ‘permanent’ contract counterparts, even after controlling for a plethora of personal and job characteristics. Thi...
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ژورنال
عنوان ژورنال: The Economic Journal
سال: 2008
ISSN: 0013-0133,1468-0297
DOI: 10.1111/j.1468-0297.2008.02200.x