TY - JOUR
T1 - Share contracts and macroeconomic externalities
AU - Cooper, Russell
N1 - Copyright:
Copyright 2018 Elsevier B.V., All rights reserved.
PY - 1986/12
Y1 - 1986/12
N2 - Weitzman's analysis of the share economy contrasts fixed-wage and fixed-share contracts; this paper notes that neither is an optimal labor contract, rendering the comparison suspect. Given this comparison, though, share contracts may be superior to wage contracts in an economy characterized by a "macroeconomic externality," whereby firm-level employment decisions affect the demand for other firms' goods.
AB - Weitzman's analysis of the share economy contrasts fixed-wage and fixed-share contracts; this paper notes that neither is an optimal labor contract, rendering the comparison suspect. Given this comparison, though, share contracts may be superior to wage contracts in an economy characterized by a "macroeconomic externality," whereby firm-level employment decisions affect the demand for other firms' goods.
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U2 - 10.1016/0147-5967(86)90083-1
DO - 10.1016/0147-5967(86)90083-1
M3 - Article
AN - SCOPUS:38249038745
SN - 0147-5967
VL - 10
SP - 421
EP - 426
JO - Journal of Comparative Economics
JF - Journal of Comparative Economics
IS - 4
ER -