Search Results - "Thomas, Jonathan P."

Job security, asymmetric information, and wage rigidity by Snell, Andy, Stüber, Heiko, Thomas, Jonathan P.

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Dynamic relational contracts under complete information by Thomas, Jonathan P., Worrall, Tim

“…This paper considers a long-term relationship between two agents who both undertake an action or investment that produces a joint benefit. Agents have an…”
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Stochastic stability of monotone economies in regenerative environments by Foss, Sergey, Shneer, Vsevolod, Thomas, Jonathan P., Worrall, Tim

“…We introduce and analyze a new class of monotone stochastic recursions in a regenerative environment which is essentially broader than that of Markov chains…”
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Bias in Returns to Tenure When Firm Wages and Employment Comove: A Quantitative Assessment and Solution by Snell, Andy, Martins, Pedro, Stüber, Heiko, Thomas, Jonathan P.

“…It is well known that unless worker-firm match quality is controlled for, reduced-form estimates of returns to firm tenure will be biased. In this paper, we…”
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Downward real wage rigidity and equal treatment wage contracts: Theory and evidence by Snell, Andy, Stüber, Heiko, Thomas, Jonathan P.

“…Recent dynamic contracting models of downward real wage rigidity with “equal treatment” — newly hired workers cannot price themselves into jobs by undercutting…”
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Measuring What Employers Do about Entry Wages over the Business Cycle: A New Approach by Martins, Pedro S., Solon, Gary, Thomas, Jonathan P.

“…Rigidity in real hiring wages plays a crucial role in some recent macroeconomic models. But are hiring wages really so noncyclical? We propose using…”
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Optimal punishment in contests with endogenous entry by Thomas, Jonathan P., Wang, Zhewei

“…We study optimal punishment in an all-pay contest with endogenous entry, where the participant with the lowest performance may be punished. When a small…”
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Marginal Subsidies in Tullock Contests by THOMAS, JONATHAN P., WANG, ZHEWEI

“…In a general Tullock contest, we examine a situation where a limited resource can be used to provide marginal subsidies to either player (weak or strong), or…”
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Informal Insurance Arrangements with Limited Commitment: Theory and Evidence from Village Economies by Ligon, Ethan, Thomas, Jonathan P., Worrall, Tim

“…Recent work on consumption allocations in village economies finds that idiosyncratic variation in consumption is systematically related to idiosyncratic…”
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A COMPETITIVE MODEL OF WORKER REPLACEMENT AND WAGE RIGIDITY by Snell, Andy, Thomas, Jonathan P., Wang, Zhewei

“…We adapt the models of Menzio and Moen (2010) and Snell and Thomas (2010) to consider a labor market in which firms can commit to wage contracts but cannot…”
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Labor Contracts, Equal Treatment, and Wage-Unemployment Dynamics by Snell, Andy, Thomas, Jonathan P.

“…This paper analyses a model in which firms cannot pay discriminate based on year of entry. It is assumed that workers can costlessly quit at any time, while…”
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Gradualism and Irreversibility by Lockwood, Ben, Thomas, Jonathan P.

“…This paper considers a class of two-player dynamic games in which each player controls a one-dimensional action variable, interpreted as a level of…”
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Downward Wage Rigidity in a Model of Equal Treatment Contracting by Martins, Pedro, Snell, Andy, Thomas, Jonathan P.

“…Following insights by Bewley (1999a), this paper analyses a model with downward rigidities in which firms cannot pay discriminately based on year of entry to…”
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LIMITED COMMITMENT MODELS OF THE LABOUR MARKET by Thomas, Jonathan P., Worrall, Tim

“…ABSTRACT We present an overview of models of long‐term self‐enforcing labour contracts in which risk‐sharing is the dominant motive for contractual solutions…”
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Fair pay and a Wage-Bill Argument for low Real Wage Cyclicality and Excessive Employment Variability by Thomas, Jonathan P.

“…This article considers a two-period optimal contracting model in which firms make new hires in the second period subject to the constraint that they cannot pay…”
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Unemployment Insurance under Moral Hazard and Limited Commitment: Public versus Private Provision by THOMAS, JONATHAN P., WORRALL, TIM

“…This paper analyzes a model of private unemployment insurance under limited commitment and a model of public unemployment insurance subject to moral hazard in…”
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IMF Conditionality as a Screening Device by Marchesi, Silvia, Thomas, Jonathan P.

“…A theoretical model is developed in which both buybacks and the adoption of an IMF programme can be used as screening devices which enable a creditor to…”
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Mutual Insurance, Individual Savings, and Limited Commitment by Ligon, Ethan, Thomas, Jonathan P., Worrall, Tim

“…We examine a dynamic model of mutual insurance when households can also engage in self-insurance by storage. We assume that there is no enforcement mechanism,…”
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Bankruptcy Proceedings for Sovereign State Insolvency by Thomas, Jonathan P.

“…This paper examines the main issues involved in translating domestic bankruptcy procedures to the sovereign context. It considers some of the principles by…”
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Some Asymptotic Results in Discounted Repeated Games of One-Sided Incomplete Information by Cripps, Martin W, Thomas, Jonathan P

“…The paper analyzes the Nash equilibria of two-person discounted repeated games with one-sided incomplete information and known own payoffs. If the informed…”
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