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Article: Aggregate pattern of time-dependent adjustment rules, I: A game-theoretic analysis of staggered versus synchronised wage setting
Title | Aggregate pattern of time-dependent adjustment rules, I: A game-theoretic analysis of staggered versus synchronised wage setting |
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Authors | |
Issue Date | 1996 |
Publisher | Blackwell 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? |
Abstract | This 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 Identifier | http://hdl.handle.net/10722/177755 |
ISSN | 2023 Impact Factor: 3.8 2023 SCImago Journal Rankings: 4.507 |
ISI Accession Number ID | |
References |
DC Field | Value | Language |
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dc.contributor.author | Lau, SHP | en_US |
dc.date.accessioned | 2012-12-19T09:39:48Z | - |
dc.date.available | 2012-12-19T09:39:48Z | - |
dc.date.issued | 1996 | en_US |
dc.identifier.citation | Economic Journal, 1996, v. 106 n. 439, p. 1645-1658 | en_US |
dc.identifier.issn | 0013-0133 | en_US |
dc.identifier.uri | http://hdl.handle.net/10722/177755 | - |
dc.description.abstract | This 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.language | eng | en_US |
dc.publisher | Blackwell Publishing Ltd. The Journal's web site is located at http://www.blackwellpublishing.com/journals/ECOJ | en_US |
dc.relation.ispartof | Economic Journal | en_US |
dc.title | Aggregate pattern of time-dependent adjustment rules, I: A game-theoretic analysis of staggered versus synchronised wage setting | en_US |
dc.type | Article | en_US |
dc.identifier.email | Lau, SHP: laushp@hkucc.hku.hk | en_US |
dc.identifier.authority | Lau, SHP=rp01073 | en_US |
dc.description.nature | link_to_subscribed_fulltext | en_US |
dc.identifier.doi | 10.2307/2235205 | - |
dc.identifier.scopus | eid_2-s2.0-4243087442 | en_US |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-4243087442&selection=ref&src=s&origin=recordpage | en_US |
dc.identifier.volume | 106 | en_US |
dc.identifier.issue | 439 | en_US |
dc.identifier.spage | 1645 | en_US |
dc.identifier.epage | 1658 | en_US |
dc.identifier.isi | WOS:A1996VV57900009 | - |
dc.publisher.place | United Kingdom | en_US |
dc.identifier.scopusauthorid | Lau, SHP=7401596159 | en_US |
dc.identifier.issnl | 0013-0133 | - |