全球智库信息集成服务系统(G2TT): DP1746 The Asymmetric Relation Between Margin Requirements and Stock Market Volatility Across Bull and Bear Markets

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP1746
	DP1746 The Asymmetric Relation Between Margin Requirements and Stock Market Volatility Across Bull and Bear Markets
	Gikas Hardouvelis; Andreas Pericli; Panayiotis Theodossiou
发表日期	1997-11-30
出版年	1997
语种	英语
摘要	Management and a union bargain sequentially, first choosing a contract which will later determine the level of employment, and those choosing a wage. The government then chooses an output subsidy, after which the industry chooses employment according to the contract. The presence of a natural turnover rate in the unionized sector creates unemployment whenever the union wage exceeds the competitive wage. Government intervention can increase both the equilibrium amount of unemployment and worsen the intersectoral allocation of labour. Intervention can also reverse the relation between the equilibrium amount of unemployment and the flexibility of the labour market. Government intervention is especially damaging when labour markets are inflexible. Unemployment weakens, but does not eliminate, the possibility of a ?labour-management conspiracy?.
关键词	Government subsidies Unemployment Wage bargaining
URL	https://cepr.org/publications/dp1746
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/530888
推荐引用方式 GB/T 7714	Gikas Hardouvelis,Andreas Pericli,Panayiotis Theodossiou. DP1746 The Asymmetric Relation Between Margin Requirements and Stock Market Volatility Across Bull and Bear Markets. 1997.