Autore: Suvakovic Olgin, Djordje
Titolo: On rational wage maximisers
Periodico: European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 1992 - Fascicolo: 93 - Pagina iniziale: 1 - Pagina finale: 14

Two issues raised by the behaviour of wage-maximising cooperative or labour-managed firms (LMFs) are addressed: the insensitivity of firms' equilibrium to the supply price of labour or to the centrally imposed calculated wage, which prevents the labour market to clear; the firms' sluggish if not negative output response to demand shifts, which provokes inflationary pressures but also harms LMFs' ability to compete against flexibly adapting profit-maximising firms. The paper proposes an automatic transfer mechanism which induces worker cooperatives to react to changes in their parameters with equal or greater intensity than the conventional profit maximisers.




Testo completo: http://hdl.handle.net/1814/411

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