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Should Owners of Firms Delegate Long-run Decisions?
(1999-11)
This paper analyzes whether owners of firms have incentives to delegate their long-run decisions to managers or not. The result arising from our analysis shows that owners do have incentives to keep their long-run decisions ...
Syncronized or Staggered Wage Bargaining
(1999-02)
[EN] This paper analyzes the timing of wage bargaining in a unionized market, assuming that workers are organized in independent unions. In equilibrium, when unions decide the timing of the negotiations, we obtain a staggered ...