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Economics

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Profit sharing, employment efficiency and wage stability

Article Abstract:

The inclusion of employment levels into collective bargaining agreements between a risk-neutral company and its risk-average workers under conditions of product demand uncertainty was examined. Specifically, the concept of profit sharing as a means of attaining an efficient employment level and optimal risk distribution between the two parties is introduced. The concept, which leads to stabilized wages, addresses inefficiency problems caused by fixed employment levels and enforcement problems caused by flexible employment levels.

Economic aspects, Collective bargaining, Profit sharing

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Comment on R.W. Cooper, "Business Cycles" Theory, Evidence and Policy Implications."

Article Abstract:

Cooper's paper on macroeconomic research reveals the dismal state of current research. Evidence is seen in the contrasting theories presented by different economists and the greatly undeveloped methods of testing them. The lack of a consensus in macroeconomic research can be explained by too much reliance on econometric evidence and an absence of reference to other sources such as microeconomic data, accounts of businessmen, and surveys.

Economics, Research and Development in the Social Sciences and Humanities, Models, Evaluation, Economic research, Business cycles, Macroeconomics

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