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Conflict, wages, and multiple equilibria

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dc.creatorZuleta, Hernando
dc.creatorAndonova, Veneta
dc.date.accessioned2015-09-21T15:04:58Z
dc.date.available2015-09-21T15:04:58Z
dc.date.created2006
dc.date.issued2006
dc.description.abstractFirms’ compensation practices affect the protection of investors’ interests and the degree of economic inequality by changing the stakes of engaging in appropriation activities versus respecting the status quo. We use a general equilibrium model where workers can either work peacefully or join a guerrilla movement that expropriates entrepreneurs. If workers are peaceful, they receive a competitive wage. If they join a guerrilla movement, they receive a share of the appropriated wealth, which depends positively on the number of guerrilla members. In this framework, we find one low-income, low-wage equilibrium with guerrilla activity and one peaceful, high-income, high-wage equilibrium. The peaceful equilibrium can be reached through redistribution policies, which can be implemented at the firm level. In essence, through their compensation policies entrepreneurs, not the state might be able to protect their assets against expropriation and simultaneously control the internal principal-agent problem.eng
dc.format.extent26 páginasspa
dc.format.mediumRecurso electrónicospa
dc.format.mimetypeapplication/pdf
dc.format.tipoDocumentospa
dc.identifier.citationZuleta, H., & Andonova, V. (2006). Conflict, wages, and multiple equilibria. Bogotá: Universidad del Rosario.
dc.identifier.doihttps://doi.org/10.48713/10336_10843
dc.identifier.urihttp://repository.urosario.edu.co/handle/10336/10843
dc.language.isoeng
dc.publisherUniversidad del Rosariospa
dc.publisher.departmentFacultad de Economíaspa
dc.relation.citationIssueNo. 8
dc.relation.citationTitleSerie Documentos de trabajo. Economía
dc.relation.ispartofSerie documentos de trabajo. No 8 (Septiembre 2006)spa
dc.relation.urihttps://ideas.repec.org/p/col/000092/002181.html
dc.rights.accesRightsinfo:eu-repo/semantics/openAccess
dc.rights.accesoAbierto (Texto completo)spa
dc.rights.ccAtribución-NoComercial-SinDerivadas 2.5 Colombiaspa
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dc.source.instnameinstname:Universidad del Rosariospa
dc.source.instnameinstname:Universidad del Rosariospa
dc.source.reponamereponame:Repositorio Institucional EdocURspa
dc.subject.ddcEconomía laboral
dc.subject.keywordconflicteng
dc.subject.keywordefficiency wageseng
dc.subject.keywordgeneral equilibriumeng
dc.subject.keywordincome distributioneng
dc.subject.keywordmultiple equilibriaeng
dc.subject.lembDesarrollo económicospa
dc.subject.lembSalariosspa
dc.subject.lembEconomía laboralspa
dc.subject.lembDistribución de la riquezaspa
dc.subject.lembPobreza::Aspectos Económicosspa
dc.titleConflict, wages, and multiple equilibriaspa
dc.typeworkingPapereng
dc.type.hasVersioninfo:eu-repo/semantics/acceptedVersion
dc.type.spaDocumento de trabajospa
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