Competition,work rules and productivity |
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Institution: | 1. Office of the Comptroller of the Currency, 400 7th Street SW, Washington, DC 20219, United States;2. Department of Economics, Ohio State University, 1945 N. High St, Columbus, OH 43210, United States;3. Department of Liberal Arts and Sciences, Fei Tian College, 1 Ashley Ave., Middletown, NY 10940, United States |
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Abstract: | I develop a theory to explain why workers want restrictive work rules, those that induce wages to be paid for non-productive labor hours, and why competition reduces them. Work rules allow workers to maintain both high levels of employment and wages. They generate a fixed payment that transfers the firm?s surplus to workers, which wages alone cannot do, making them robust to alternative modeling assumptions. Competition loosens work rules by reducing the firm?s surplus, which increases productivity. |
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Keywords: | Competition Productivity Restrictive work rules Labor unions J51 L11 O14 |
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