Time is on my side: relational contracts and aggregate welfare
"This paper develops a simple general equilibrium model which establishes a link between the patience of economic agents and the well-being of nations. We show that firms in long-term oriented countries can mitigate hold-up inefficiencies by engaging with their suppliers in relational contracti...
Main Authors: | Kukharskyy, Bohdan, Pflüger, Michael P. |
---|---|
Institution: | ETUI-European Trade Union Institute |
Format: | TEXT |
Language: | English |
Published: |
Bonn
2018
IZA |
Subjects: | |
Online Access: | https://www.labourline.org/KENTIKA-19399936124911171189-Time-is-on-my-side-relational-.htm |
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