Specific Capital, Employment Contracts, and Wage Rigidity
- 1 January 1980
- journal article
- Published by JSTOR in The Bell Journal of Economics
- Vol. 11 (2) , 536
- https://doi.org/10.2307/3003378
Abstract
When firm-specific human capital is involved, both the worker and the employer have the incentive to prespecify future wages. This incentive arises from transac...Keywords
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