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Profit sharing, capital formation and the NAIRU

Jerger, Jürgen and Michaelis, Jochen (1999) Profit sharing, capital formation and the NAIRU. The Scandinavian Journal Of Economics 101 (2), pp. 257-275.

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This paper reconsiders the impact of different remuneration systems on aggregate employment. Contrary to common wisdom on this topic, we show that the switch from a fixed wage economy to a share economy results in lower aggregate unemployment. An additional innovation of this paper is the endogeneity of the capital stock decision of the firm, which enables us to assess and reject the common “disincentive-to-invest” criticism of a share economy.

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Item type:Article
Institutions:Business, Economics and Information Systems > Institut für Volkswirtschaftslehre und Ökonometrie > Lehrstuhl für Internationale und Monetäre Ökonomik (Prof. Dr. Jürgen Jerger)
Interdisciplinary Subject Network:Immobilien- und Kapitalmärkte
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Keywords:hare economy; investment; NAIRU
Dewey Decimal Classification:300 Social sciences > 330 Economics
Created at the University of Regensburg:Unknown
Item ID:16233

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