How are the options to buy and sell a business relevant for entrepreneurs? Prospective entrepreneurs value the purchase of mature firms while incumbents want to recover both the tangible and intangible value of their businesses upon exit. We introduce a theory of entrepreneurial assets transfer consistent with empirical evidence and centered around a businesses for sale market that lets entrepreneurs trade the maturity components of their firms. We find that shutting that market down leads to a substantial drop in aggregate output and alters the pool of firms, incentives to enter and exit, and the wealth distribution.
{"title":"Buying and Selling Entrepreneurial Assets","authors":"Alexandre Gaillard, Sumudu Kankanamge","doi":"10.2139/ssrn.3692656","DOIUrl":"https://doi.org/10.2139/ssrn.3692656","url":null,"abstract":"How are the options to buy and sell a business relevant for entrepreneurs? Prospective entrepreneurs value the purchase of mature firms while incumbents want to recover both the tangible and intangible value of their businesses upon exit. We introduce a theory of entrepreneurial assets transfer consistent with empirical evidence and centered around a businesses for sale market that lets entrepreneurs trade the maturity components of their firms. We find that shutting that market down leads to a substantial drop in aggregate output and alters the pool of firms, incentives to enter and exit, and the wealth distribution.","PeriodicalId":415756,"journal":{"name":"ERPN: Other Labor Economics (Sub-Topic)","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128440393","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Extensive research on the glass ceiling has shown that the large gap between the female representation at lower and upper levels of management is largely driven by differences in family responsibilities, career interruptions and the requirement of working long hours. Additionally, recent data suggests that female entrepreneurial activity lags behind that of males in terms of business creation and revenue generation. Though one might expect female entrepreneurs to bypass the glass ceiling constraints when becoming a business owner, research still documents gender gaps in this market. This paper examines whether the traditional glass ceiling inhibitors apply to female entrepreneurs as well. We find that male and female reach early levels of success at similar rates and have similar aspirations for financial growth. However, we find that female entrepreneurs are more likely to cite flexibility as an important reason for entering entrepreneurship and spend more time on housekeeping and childcare.
{"title":"Examining the Glass Ceiling for Female Entrepreneurs: An Empirical Analysis","authors":"Hannah Stoppelmann","doi":"10.2139/ssrn.3436920","DOIUrl":"https://doi.org/10.2139/ssrn.3436920","url":null,"abstract":"Extensive research on the glass ceiling has shown that the large gap between the female representation at lower and upper levels of management is largely driven by differences in family responsibilities, career interruptions and the requirement of working long hours. Additionally, recent data suggests that female entrepreneurial activity lags behind that of males in terms of business creation and revenue generation. Though one might expect female entrepreneurs to bypass the glass ceiling constraints when becoming a business owner, research still documents gender gaps in this market. This paper examines whether the traditional glass ceiling inhibitors apply to female entrepreneurs as well. We find that male and female reach early levels of success at similar rates and have similar aspirations for financial growth. However, we find that female entrepreneurs are more likely to cite flexibility as an important reason for entering entrepreneurship and spend more time on housekeeping and childcare.","PeriodicalId":415756,"journal":{"name":"ERPN: Other Labor Economics (Sub-Topic)","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129263113","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Exploiting time‐series data on labor laws from 39 countries, we investigate how labor power influences firms’ payouts. We find that legislative changes that strengthen labor power reduce firms’ dividend payments and total payouts. The payout restriction effect of labor power is more pronounced in firms with greater labor intensity and in firms operating in countries with broader collective bargaining coverage and more effective law enforcement. Tightened operating flexibility and excess wage extraction are two plausible channels through which labor power affects payouts. These findings indicate that labor power is another important country‐wide institution that shapes corporate payout policy.
{"title":"Having a Finger in the Pie: Labor Power and Corporate Payout Policy","authors":"I. Haw, Bingbing Hu, Donghui Wu, Xu Zhang","doi":"10.1111/FIMA.12211","DOIUrl":"https://doi.org/10.1111/FIMA.12211","url":null,"abstract":"Exploiting time‐series data on labor laws from 39 countries, we investigate how labor power influences firms’ payouts. We find that legislative changes that strengthen labor power reduce firms’ dividend payments and total payouts. The payout restriction effect of labor power is more pronounced in firms with greater labor intensity and in firms operating in countries with broader collective bargaining coverage and more effective law enforcement. Tightened operating flexibility and excess wage extraction are two plausible channels through which labor power affects payouts. These findings indicate that labor power is another important country‐wide institution that shapes corporate payout policy.","PeriodicalId":415756,"journal":{"name":"ERPN: Other Labor Economics (Sub-Topic)","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"118273722","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Innovation & Entrepreneurship has been defined in many ways by the scholars. Similarly the determinants carry a wide spectrum of understanding in the form of theories and explanations (Brock and Evans, 1989; Carree, 1997; Carree, Van Stel, Thurik and Wennekers, 2002; Gavron, Cowling, Holtham and Westall, 1998). Definitely it has a direct impact on the economic development within and outside the boundaries from the centre where it emanates. The level of entrepreneurship varies substantially from one boundary to the other as time passes (Rees and Shah, 1986; Blanchflower, 2000; Blanchflower and Meyer, 1994; De Wit and Van Winden, 1989). Large firms have been subjected to waves of downsizing and restructuring and entrepreneurship has been (re)-discovered (Carree, 1997; Gavron, Cowling, Holtham and Westall, 1998; Thurik, 1999; Wennekers and Thurik, 1999). There has been a shift from the larger to smaller firms or enterprise, which have catapulted the rate of economic development. There are no established indicators that can be generally reached to consensus, in measuring the level of entrepreneurship undertaken and so be the case of the determinants that lead to this phenomenon of being entrepreneurial.
学者们对创新与创业的定义是多方面的。同样，决定因素以理论和解释的形式具有广泛的理解范围(Brock和Evans, 1989;Carree, 1997;Carree, Van Stel, Thurik and Wennekers, 2002;Gavron, Cowling, Holtham and Westall, 1998)。当然，它对边界内外的经济发展都有直接的影响。随着时间的推移，企业家精神的水平从一个边界到另一个边界变化很大(Rees和Shah, 1986;布兰奇福劳,2000;Blanchflower and Meyer, 1994;De Wit and Van Winden, 1989)。大公司经历了裁员和重组的浪潮，企业家精神被(重新)发现(Carree, 1997;Gavron, Cowling, Holtham and Westall, 1998;Thurik, 1999;Wennekers and Thurik, 1999)。出现了从大公司到小公司的转变，这推动了经济发展的速度。在衡量企业家精神的程度方面，没有可以普遍达成协商一致意见的既定指标，因此也没有导致这种企业家精神现象的决定因素。
{"title":"Drivers to Innovation by Entrepreneurs","authors":"M. Joshi","doi":"10.2139/ssrn.2993068","DOIUrl":"https://doi.org/10.2139/ssrn.2993068","url":null,"abstract":"Innovation & Entrepreneurship has been defined in many ways by the scholars. Similarly the determinants carry a wide spectrum of understanding in the form of theories and explanations (Brock and Evans, 1989; Carree, 1997; Carree, Van Stel, Thurik and Wennekers, 2002; Gavron, Cowling, Holtham and Westall, 1998). Definitely it has a direct impact on the economic development within and outside the boundaries from the centre where it emanates. The level of entrepreneurship varies substantially from one boundary to the other as time passes (Rees and Shah, 1986; Blanchflower, 2000; Blanchflower and Meyer, 1994; De Wit and Van Winden, 1989). Large firms have been subjected to waves of downsizing and restructuring and entrepreneurship has been (re)-discovered (Carree, 1997; Gavron, Cowling, Holtham and Westall, 1998; Thurik, 1999; Wennekers and Thurik, 1999). There has been a shift from the larger to smaller firms or enterprise, which have catapulted the rate of economic development. \u0000There are no established indicators that can be generally reached to consensus, in measuring the level of entrepreneurship undertaken and so be the case of the determinants that lead to this phenomenon of being entrepreneurial.","PeriodicalId":415756,"journal":{"name":"ERPN: Other Labor Economics (Sub-Topic)","volume":"111 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128907953","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Entrepreneurship has been considered for long as a process primarily aimed at creating one’s own business ventures and contributing to economic development and employment generation. It is not just about management, ideas, or shortage of funds, the focus need to be on the product. In the 21st century, the opportunities for growth, profits, success and the pace of development is increasing globally and the ability to adapt to change and willingness to adopt best practices, will acquire new value. Present paper highlights on hurdles in growth of entrepreneurship and reasons for failure of entrepreneurship. Researcher undergone reviews of literature and identify the reasons of entrepreneurship failure and hurdles to become an entrepreneur. After the study researcher conclude that entrepreneurship education and support by family members will help to minimize the hurdles in growth of entrepreneurship.
{"title":"Obstacles in Growth of Entrepreneurship","authors":"","doi":"10.2139/SSRN.2589418","DOIUrl":"https://doi.org/10.2139/SSRN.2589418","url":null,"abstract":"Entrepreneurship has been considered for long as a process primarily aimed at creating one’s own business ventures and contributing to economic development and employment generation. It is not just about management, ideas, or shortage of funds, the focus need to be on the product. In the 21st century, the opportunities for growth, profits, success and the pace of development is increasing globally and the ability to adapt to change and willingness to adopt best practices, will acquire new value. Present paper highlights on hurdles in growth of entrepreneurship and reasons for failure of entrepreneurship. Researcher undergone reviews of literature and identify the reasons of entrepreneurship failure and hurdles to become an entrepreneur. After the study researcher conclude that entrepreneurship education and support by family members will help to minimize the hurdles in growth of entrepreneurship.","PeriodicalId":415756,"journal":{"name":"ERPN: Other Labor Economics (Sub-Topic)","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122111666","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We document the presence of multiple and varied constraints to small and medium firm growth. This presents both a practical problem for business training programs and a challenge to academic economists trying to identify mechanisms though which these programs may affect outcomes. External validity needs theory. This pushes researchers to narrowly defined and highly selected sample frames, which limits the potential for clear, generalizable policy prescriptions. Ultimately, larger samples, multi-arm evaluations, process documentation, and narrowly-focused, theory-supported empirical work are all needed, but the complexity of the problem limits what we learn from any single study.
{"title":"The Catch-22 of External Validity in the Context of Constraints to Firm Growth","authors":"G. Fischer, Dean S. Karlan","doi":"10.1257/AER.P20151078","DOIUrl":"https://doi.org/10.1257/AER.P20151078","url":null,"abstract":"We document the presence of multiple and varied constraints to small and medium firm growth. This presents both a practical problem for business training programs and a challenge to academic economists trying to identify mechanisms though which these programs may affect outcomes. External validity needs theory. This pushes researchers to narrowly defined and highly selected sample frames, which limits the potential for clear, generalizable policy prescriptions. Ultimately, larger samples, multi-arm evaluations, process documentation, and narrowly-focused, theory-supported empirical work are all needed, but the complexity of the problem limits what we learn from any single study.","PeriodicalId":415756,"journal":{"name":"ERPN: Other Labor Economics (Sub-Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130801826","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The coastal region of Karnataka state namely Dakshina kannada and Udupi districts have made a niche in technical education since independence. These two twin districts have one of the highest literacy rates in the state. Many entrepreneurs have invested in education especially in technical education, which has made a permanent visible identity. This paper discusses the role and future of technical education in the two districts and the state as a whole.
{"title":"Growth and Prospects of Technical Education with Specific Reference to Karnataka State & Dakshina Kannada District","authors":"A. Sequeira","doi":"10.2139/ssrn.2132136","DOIUrl":"https://doi.org/10.2139/ssrn.2132136","url":null,"abstract":"The coastal region of Karnataka state namely Dakshina kannada and Udupi districts have made a niche in technical education since independence. These two twin districts have one of the highest literacy rates in the state. Many entrepreneurs have invested in education especially in technical education, which has made a permanent visible identity. This paper discusses the role and future of technical education in the two districts and the state as a whole.","PeriodicalId":415756,"journal":{"name":"ERPN: Other Labor Economics (Sub-Topic)","volume":"85 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133259309","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
V. Salas-Fumás, J. Sanchez-Asin, Luis Medrano-Adán
The self-employed and entrepreneurs form a heterogeneous group: some individuals are pushed to become self-employed because they cannot find a job as employees, while others voluntarily choose self-employment to exploit business opportunities; among those who choose by opportunity, some hire employees, while others do not. This paper models market equilibrium from occupational choices in economies with market frictions and solves for conditions that can explain the observed heterogeneity among self-employed individuals. It also provides comparative static analysis of changes in the equilibrium results of both self-employment rates and output, from changes in the technological, institutional and organizational factors determining market equilibrium. The results can explain certain puzzling empirical findings reported in the literature about the relationships between self-employment and economic development. This paper provides additional empirical evidence on the U-shaped relationship between skills and entrepreneurial rates with Spanish data, and documents the growing number of voluntary own account self-employed.
{"title":"The Heterogeneous Self-Employed in Occupational Choice Models with Market Frictions","authors":"V. Salas-Fumás, J. Sanchez-Asin, Luis Medrano-Adán","doi":"10.2139/ssrn.2084143","DOIUrl":"https://doi.org/10.2139/ssrn.2084143","url":null,"abstract":"The self-employed and entrepreneurs form a heterogeneous group: some individuals are pushed to become self-employed because they cannot find a job as employees, while others voluntarily choose self-employment to exploit business opportunities; among those who choose by opportunity, some hire employees, while others do not. This paper models market equilibrium from occupational choices in economies with market frictions and solves for conditions that can explain the observed heterogeneity among self-employed individuals. It also provides comparative static analysis of changes in the equilibrium results of both self-employment rates and output, from changes in the technological, institutional and organizational factors determining market equilibrium. The results can explain certain puzzling empirical findings reported in the literature about the relationships between self-employment and economic development. This paper provides additional empirical evidence on the U-shaped relationship between skills and entrepreneurial rates with Spanish data, and documents the growing number of voluntary own account self-employed.","PeriodicalId":415756,"journal":{"name":"ERPN: Other Labor Economics (Sub-Topic)","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123312292","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Seit den 80er Jahren sind die Zeilensatze, welche Zeitungen und Magazine freien Autoren fur die Veroffentlichung ihrer Texte zahlen, nicht gestiegen. Mehr als die Halfte der Freien hat ein Einkommen von weniger als EUR 2.000 im Monat. Immer starker greifen Verlage und Agenturen auf die Dienst von Freelancern zuruck. Uber die Halfte aller Texte in Magazinen und ein Viertel bis ein Drittel der Inhalte von Tageszeitungen werden unter diesen Bedingungen von Freien produziert. Warum verdienen freie Printjournalisten so schlecht? Und: Ist die heutige Situation von Freelancern in den Printmedien nur ein Vorgeschmack darauf, wie sich die Arbeit in der Wissensgesellschaft insgesamt in Zukunft entwickeln wird? Die gangige Antwort auf die Frage nach der Ursache fur niedrige Einkommen im Printjournalismus lautet: Der Markt ist verantwortlich! Genauer: Niedrige Verdienste sind das Resultat von Angebot und Nachfrage. Das Angebot an journalistischer Arbeitskraft steigt, weil Jobs in den Medien ein hohes Mas an Selbstverwirklichung bieten und der Journalismus deshalb trotz der oft schlechten Bezahlung ein attraktiver Beruf ist. Gleichzeitig sinkt, bedingt durch die Strukturkrise der Printmedien, die Nachfrage nach journalistischer Arbeitskraft. Hinter dieser Erklarung verbergen sich zwei Thesen. These (1) behauptet einen Kausalzusammenhang: (1)Das Verhaltnis von Angebot und Nachfrage druckt die Preise fur journalistische Dienstleistungen. These (2) behauptet die Existenz bestimmter empirischer Fakten: (2)Das Angebot an Arbeitskraft im Journalismus steigt. Die Nachfrage nach journalistischen Dienstleistungen sinkt. Im Folgenden argumentiere ich dafur, dass die These (1) den Mechanismus der Preissetzung fur journalistische Dienstleistungen nur unvollstandig beschreibt. Als detailliertere Erklarung wird die „Substitutionskostenthese“ vorgeschlagen. Auserdem werde ich zeigen, inwiefern das Uberangebot an Arbeitskraft im Journalismus (These( 2)), ein Phanomen darstellt, welches fur stark erklarungsbedurftig und von daher nicht als solches als Begrundung fur niedrige Einkommen im Printjournalismus gelten kann. Verschiedene Faktoren werden aufgezeigt, die den Fortbestand eines Uberangebots an journalistischer Arbeitskraft plausibel machen, darunter vor allem journalistische Berufsethos und soziale Herkunft der Journalisten. Why do freelance-journalists often achieve only very low incomes? Is the current situation of freelancers in journalisms just a preview of what is generally going to happen to workers in the information economy in the near future? One common approach to these questions is the claim that market forces are responsible for low earnings in the field. Because jobs in the media offer a high degree of personal autonomy and other non-financial rewards, so the assumption, many people are opting for these professions. At the same time demand for journalistic work decreases, due to the structural crisis in the media industry. We argue that this explanation for
{"title":"Wie Wir's Verdienen: Einkommensdeterminanten Im Freelance-Printjournalismus (The Way We Earn: Income Determinants in Freelance Journalism)","authors":"R. Groetker","doi":"10.2139/ssrn.2328066","DOIUrl":"https://doi.org/10.2139/ssrn.2328066","url":null,"abstract":"Seit den 80er Jahren sind die Zeilensatze, welche Zeitungen und Magazine freien Autoren fur die Veroffentlichung ihrer Texte zahlen, nicht gestiegen. Mehr als die Halfte der Freien hat ein Einkommen von weniger als EUR 2.000 im Monat. Immer starker greifen Verlage und Agenturen auf die Dienst von Freelancern zuruck. Uber die Halfte aller Texte in Magazinen und ein Viertel bis ein Drittel der Inhalte von Tageszeitungen werden unter diesen Bedingungen von Freien produziert. Warum verdienen freie Printjournalisten so schlecht? Und: Ist die heutige Situation von Freelancern in den Printmedien nur ein Vorgeschmack darauf, wie sich die Arbeit in der Wissensgesellschaft insgesamt in Zukunft entwickeln wird? Die gangige Antwort auf die Frage nach der Ursache fur niedrige Einkommen im Printjournalismus lautet: Der Markt ist verantwortlich! Genauer: Niedrige Verdienste sind das Resultat von Angebot und Nachfrage. Das Angebot an journalistischer Arbeitskraft steigt, weil Jobs in den Medien ein hohes Mas an Selbstverwirklichung bieten und der Journalismus deshalb trotz der oft schlechten Bezahlung ein attraktiver Beruf ist. Gleichzeitig sinkt, bedingt durch die Strukturkrise der Printmedien, die Nachfrage nach journalistischer Arbeitskraft. Hinter dieser Erklarung verbergen sich zwei Thesen. These (1) behauptet einen Kausalzusammenhang: (1)Das Verhaltnis von Angebot und Nachfrage druckt die Preise fur journalistische Dienstleistungen. These (2) behauptet die Existenz bestimmter empirischer Fakten: (2)Das Angebot an Arbeitskraft im Journalismus steigt. Die Nachfrage nach journalistischen Dienstleistungen sinkt. Im Folgenden argumentiere ich dafur, dass die These (1) den Mechanismus der Preissetzung fur journalistische Dienstleistungen nur unvollstandig beschreibt. Als detailliertere Erklarung wird die „Substitutionskostenthese“ vorgeschlagen. Auserdem werde ich zeigen, inwiefern das Uberangebot an Arbeitskraft im Journalismus (These( 2)), ein Phanomen darstellt, welches fur stark erklarungsbedurftig und von daher nicht als solches als Begrundung fur niedrige Einkommen im Printjournalismus gelten kann. Verschiedene Faktoren werden aufgezeigt, die den Fortbestand eines Uberangebots an journalistischer Arbeitskraft plausibel machen, darunter vor allem journalistische Berufsethos und soziale Herkunft der Journalisten. Why do freelance-journalists often achieve only very low incomes? Is the current situation of freelancers in journalisms just a preview of what is generally going to happen to workers in the information economy in the near future? One common approach to these questions is the claim that market forces are responsible for low earnings in the field. Because jobs in the media offer a high degree of personal autonomy and other non-financial rewards, so the assumption, many people are opting for these professions. At the same time demand for journalistic work decreases, due to the structural crisis in the media industry. We argue that this explanation for","PeriodicalId":415756,"journal":{"name":"ERPN: Other Labor Economics (Sub-Topic)","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121173411","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
According to Engineer and Shi (1998, 2001) and Berentsen and Rocheteau (2003), the double coincidence of wants problem seems to be not essential to rationalize the use of money in a search theoretic framework. This paper analyzes an endogenous price search model of money where there is universal double coincidence of wants. The existence of a monetary equilibrium depends, essentially, on the asymmetry in the role played by economic agents in the exchange and production processes. In particular, entrepreneurs are assumed to produce a fixed amount of a divisible consumption good by means of labour services provided by workers. Entrepreneurs can offer a co-operative (barter) contract or a monetary contract to workers. Under the co-operative contract real wages are determined in the labour exchange sector, while in the monetary regime real wages are determined in the commodity exchange sector. The monetary contract is proved to be an equilibrium strategy provided that: (i) the workers' labour disutility is sufficiently high and/or (ii) the entrepreneurs' bargaining power in the commodity market is sufficiently large relative to their bargaining power in the labour market. The rationale for money comes from the fact that entrepreneurs use it as an instrument to maximize their output share.
根据Engineer and Shi(1998, 2001)和Berentsen and Rocheteau(2003)的研究，在搜索理论框架中，需求问题的双重巧合似乎并不是使金钱使用合理化的必要条件。本文分析了存在普遍双重需求巧合的货币内生价格搜索模型。货币均衡的存在本质上取决于经济主体在交换和生产过程中所扮演角色的不对称性。特别是，企业家被假定通过工人提供的劳务生产固定数量的可分消费品。企业家可以向工人提供合作(物物交换)合同或货币合同。在合作社合同下，实际工资由劳动力交换部门决定，而在货币制度下，实际工资由商品交换部门决定。货币契约被证明是一种均衡策略，前提是:(i)工人的劳动负效用足够高和/或(ii)企业家在商品市场上的议价能力相对于他们在劳动力市场上的议价能力足够大。货币的基本原理来自于这样一个事实，即企业家把它作为一种工具来最大化他们的产出份额。
{"title":"A 'Double Coincidence' Search Model of Money","authors":"N. Amendola","doi":"10.2139/ssrn.1162822","DOIUrl":"https://doi.org/10.2139/ssrn.1162822","url":null,"abstract":"According to Engineer and Shi (1998, 2001) and Berentsen and Rocheteau (2003), the double coincidence of wants problem seems to be not essential to rationalize the use of money in a search theoretic framework. This paper analyzes an endogenous price search model of money where there is universal double coincidence of wants. The existence of a monetary equilibrium depends, essentially, on the asymmetry in the role played by economic agents in the exchange and production processes. In particular, entrepreneurs are assumed to produce a fixed amount of a divisible consumption good by means of labour services provided by workers. Entrepreneurs can offer a co-operative (barter) contract or a monetary contract to workers. Under the co-operative contract real wages are determined in the labour exchange sector, while in the monetary regime real wages are determined in the commodity exchange sector. The monetary contract is proved to be an equilibrium strategy provided that: (i) the workers' labour disutility is sufficiently high and/or (ii) the entrepreneurs' bargaining power in the commodity market is sufficiently large relative to their bargaining power in the labour market. The rationale for money comes from the fact that entrepreneurs use it as an instrument to maximize their output share.","PeriodicalId":415756,"journal":{"name":"ERPN: Other Labor Economics (Sub-Topic)","volume":"57 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134050900","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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