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Persistent link: https://www.econbiz.de/10000072556
value because it reduces lifetime consumption. The main empirical implication of contract theory is shown to be closely … compared with market sectors. The theory is used to analyze some features of the U.S. employment system. Its empirical support …
Persistent link: https://www.econbiz.de/10012478007
The underlying data from which the U.S. unemployment rate, labor-force participation rate, and duration of unemployment are calculated contain numerous internal contradictions. This paper catalogs these inconsistencies and proposes a unified reconciliation. We find that the usual statistics...
Persistent link: https://www.econbiz.de/10012481589