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Real options, wage bargaining, factor subsidies and employment

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  • Stein Ostbye

Abstract

The paper combines a translog variable cost function, a bargaining model of wage determination and a real option model determining real capital. Using this framework, the effect of factor subsidies on labour demand is estimated, based on aggregate panel data for Norwegian manufacturing industry in the period 1980-1988

Suggested Citation

  • Stein Ostbye, 1998. "Real options, wage bargaining, factor subsidies and employment," Applied Economics, Taylor & Francis Journals, vol. 30(3), pages 335-344.
    • Handle: RePEc:taf:applec:v:30:y:1998:i:3:p:335-344
    DOI: 10.1080/000368498325859
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    References listed on IDEAS

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    1. Davidson, Russell & MacKinnon, James G., 1993. "Estimation and Inference in Econometrics," OUP Catalogue, Oxford University Press, number 9780195060119.
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    Cited by:

    1. Jyh-Bang Jou & Tan (Charlene) Lee, 2011. "Mutually exclusive investment with technical uncertainty," Applied Economics, Taylor & Francis Journals, vol. 43(30), pages 4723-4728.
    2. Stein Ostbye, 1997. "A real options approach to investment in factor demand models," Applied Economics Letters, Taylor & Francis Journals, vol. 4(3), pages 153-157.
    3. Ming-Chung Chang & Jin-Li Hu, 2009. "Inconsistent preferences in environmental protection investment and the central government's optimal policy," Applied Economics, Taylor & Francis Journals, vol. 43(6), pages 767-772.

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