From Risk to Opportunity Insurer Responses to Climate Change 2008
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Clearly, a straightforward implication of wages being determined by sectoral
conditions would be that industry-level contracts offer little scope for adjustments of
individual wages to firm-specific demand shocks, even if the latter are of permanent
nature. However, as demonstrated in Section 2.2, industry-level contracts do not
necessarily provide an obstacle to the adjustment of wages to local conditions, as
recent decentralisation tendencies in Germany have introduced the option of making
such wage adjustments. Given that full insurance is likely to induce substantial job
loss if demand disturbances have a more permanent character, a natural expectation
is that this potential should at least have been exploited to allow for...
Nội dung trích xuất từ tài liệu:
From Risk to Opportunity Insurer Responses to Climate Change 2008
Nội dung trích xuất từ tài liệu:
From Risk to Opportunity Insurer Responses to Climate Change 2008
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