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Labor Market: Incentives, Wages and Contracts
2016Prendergast (1999) begins his widely known survey of incentives of the firm with the sentence “incentives are the essence of the economy.” Hardly any economist would disagree with the idea that economic agents react to the incentives they face, even more so if a significant number of individuals have motivations beyond their own self interest and have ...
Enrique Fatas, Antonio J. Morales
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LABOR MARKET INSTITUTIONS AND FERTILITY
International Economic ReviewSome high‐income countries have total fertility rates as low as one child. Using Spanish administrative data, we document that temporary contracts correlate with lower first birth rates.
Nezih Guner +2 more
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The asymmetric cyclical behavior of the U.S. labor market
Review of economic dynamics (Print), 2018The employment rate in the United States fluctuates asymmetrically over the business cycle: it contracts deeply and sharply during recessions, but it recovers slowly and gradually during expansions. By contrast, aggregate output exhibits nearly symmetric
D. Ferraro
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Moneyball and the Baseball Players’ Labor Market
International Journal of Sport Finance, 2018Michael Lewis's best-selling book, Moneyball, demonstrated the efforts of Oakland A's General Manager, Billy Beane, to create a successful baseball team in spite of its location in a small market.
Paul M. Holmes, Rob Simmons, D. Berri
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Journal of Labor Economics, 2010
This paper addresses Alvin Roth’s findings of market contracting at times earlier than optimal for market participants, which Roth describes as market “unraveling,” a market failure he proposes to solve by designing centralized buyer‐seller matching programs. This paper shows that, while Roth’s engineering solutions are ingenious, the early contracting
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This paper addresses Alvin Roth’s findings of market contracting at times earlier than optimal for market participants, which Roth describes as market “unraveling,” a market failure he proposes to solve by designing centralized buyer‐seller matching programs. This paper shows that, while Roth’s engineering solutions are ingenious, the early contracting
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Unemployment and Labor–market Reform: A Contract Theoretic Approach
The Scandinavian Journal of Economics, 2002Why 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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Labor-Market Implications of Contracts under Moral Hazard [PDF]
, 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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Labor market adjustments in the unionized contract construction industry
Journal of Labor Research, 1981The unionized construction labor market reaches equilibrium by means of three adjustment mechanisms: wage changes, changes in the quality of workers hired, and the migration of workers in and out of the market. The relative importance of the three mechanisms in local labor markets depends on laws and institutional rules. This paper examines some of the
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Introducing a new job contract into the Labor Market:
2007We propose to implement and simulate an economic model that studies the potential effects of the introduction of a new type of a job contract into the French labor market. This transition from a classical economic model to an agent-based simulation allows us to reproduce the same tendencies found in the former one and to observe a new dimension that ...
Lewkovicz, Zach, Kant, Jean-Daniel
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Fluctuations and Rigidities in Local Labor Markets. Part 2: Reinterpreting Contracts
Environment and Planning A: Economy and Space, 1983Local labor markets are characterized by rigidities in their patterns of adjustment to short-run fluctuations. With or without unions, fluctuations in employment, hours worked, and money wages are unlike the patterns predicted by conventional discrete-exchange labor-market theories.
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