This paper explores the idea of the labour market as a social institution by examining the relationship between culture and labour market behaviour. The term culture, taken in its wide ethnographic sense, 'is that complex whole which includes knowledge, belief, art, morals, law, custom and any...

This note presents a model in which pension funds, by holding a significant share of capital assets, can exert a non competitive behavior on labor market. This leads to lower wages and higher capital returns, and can reduce capital accumulation and long-run welfare.

Overeducation is a form of labour underutilisation which occurs when the formal education level of a worker exceeds that which is required for the job. In Australia close to 30 per cent of workers are overeducated and are underutilising their skills. Using data from the Negotiating the Life...

Overeducation is a form of labour underutilisation which occurs when the formal education level of a worker exceeds that which is required for the job. It is a form of underemployment that imposes significant costs on individuals and economies. Using data from the Negotiating the Life Course...

We develop a model that combines both the transaction efficiency and primary resource explanations for specialization and development. Our model builds on the Yang (1990) framework but introduces a primary resource factor into this model. We show that neither a labour surplus nor the development...