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Article: Aggregate pattern of time-dependent adjustment rules, I: A game-theoretic analysis of staggered versus synchronised wage setting

TitleAggregate pattern of time-dependent adjustment rules, I: A game-theoretic analysis of staggered versus synchronised wage setting
Authors
Issue Date1996
PublisherBlackwell Publishing Ltd. The Journal's web site is located at http://www.blackwellpublishing.com/journals/ECOJ
Citation
Economic Journal, 1996, v. 106 n. 439, p. 1645-1658 How to Cite?
AbstractThis paper studies the benefits of staggered wage setting in reducing strategic conflicts. It is shown that when wage setters interact strategically and dynamically, they prefer moving alternatingly, because by doing so, they are able to commit temporarily not to offset the effects of each other's action. It is also shown that synchronisation represents a better arrangement when agents are able to coordinate. These results are consistent with the presence of non-synchronous and decentralised wage decisions in the United States and the United Kingdom and the presence of synchronous bargaining (in Shunto) and coordination in wage determination in Japan.
Persistent Identifierhttp://hdl.handle.net/10722/177755
ISSN
2015 Impact Factor: 2.37
2015 SCImago Journal Rankings: 3.390
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorLau, SHPen_US
dc.date.accessioned2012-12-19T09:39:48Z-
dc.date.available2012-12-19T09:39:48Z-
dc.date.issued1996en_US
dc.identifier.citationEconomic Journal, 1996, v. 106 n. 439, p. 1645-1658en_US
dc.identifier.issn0013-0133en_US
dc.identifier.urihttp://hdl.handle.net/10722/177755-
dc.description.abstractThis paper studies the benefits of staggered wage setting in reducing strategic conflicts. It is shown that when wage setters interact strategically and dynamically, they prefer moving alternatingly, because by doing so, they are able to commit temporarily not to offset the effects of each other's action. It is also shown that synchronisation represents a better arrangement when agents are able to coordinate. These results are consistent with the presence of non-synchronous and decentralised wage decisions in the United States and the United Kingdom and the presence of synchronous bargaining (in Shunto) and coordination in wage determination in Japan.en_US
dc.languageengen_US
dc.publisherBlackwell Publishing Ltd. The Journal's web site is located at http://www.blackwellpublishing.com/journals/ECOJen_US
dc.relation.ispartofEconomic Journalen_US
dc.titleAggregate pattern of time-dependent adjustment rules, I: A game-theoretic analysis of staggered versus synchronised wage settingen_US
dc.typeArticleen_US
dc.identifier.emailLau, SHP: laushp@hkucc.hku.hken_US
dc.identifier.authorityLau, SHP=rp01073en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.2307/2235205-
dc.identifier.scopuseid_2-s2.0-4243087442en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-4243087442&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume106en_US
dc.identifier.issue439en_US
dc.identifier.spage1645en_US
dc.identifier.epage1658en_US
dc.identifier.isiWOS:A1996VV57900009-
dc.publisher.placeUnited Kingdomen_US
dc.identifier.scopusauthoridLau, SHP=7401596159en_US

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