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Unemployment and Labor–market Reform: A Contract Theoretic Approach

The Scandinavian Journal of Economics, 2002
Why do many democracies fail to reform their labor–market institutions? To answer this question we study the feasibility of reforms that include compensation to insiders for the removal of labor–market regulations. Under asymmetric information, a reformer who wants to buy the approval of voters has to pay them an informational rent in addition to the ...
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Zero-hours Contracts in a Frictional Labor Market

SSRN Electronic Journal, 2022
Admin SSRN au/at CIRANO   +3 more
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The Effects of Contracting and Labor Search on Risks in Financial Markets

2015
My research employs theoretical modeling and quantitative analysis to study the interaction between market frictions and risks in the areas of Banking and Asset Pricing. Specifically I examine how frictions in contracting and search affect systemic risk and asset prices.
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Labor-Market Implications of Contracts under Moral Hazard [PDF]

open access: possible, 2007
The optimal contract under moral hazard is embedded in a standard Mortensen-Pissarides matching model. Under standard assumptions, we show that when firms cannot perfectly observe workers' productivity the optimal contract can take the form of a debt contract exhibiting almost a fixed wage along the business cycle. When this contract is embedded in the
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CEO identity and labor contracts: Evidence from CEO transitions

Journal of Corporate Finance, 2015
Laurent Bach
exaly  

Search in the Labour Market, Incomplete Contracts and Growth

1994
This paper shows that search in the labour market has important effects on accumulation decisions. In a labour market characterized by search, employment contracts are naturally incomplete and this creates a wedge between the rates of return and marginal products of both human and physical capital.
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