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British Master and Servant law made employee contract breach a criminal offense until 1875. We develop a contracting … model generating equilibrium contract breach and prosecutions, then exploit exogenous changes in output prices to examine … prosecutions, and wages responded more to labor demand shocks. Coercive contract enforcement was applied in industrial Britain …
Persistent link: https://www.econbiz.de/10012461607
The theory of international macroeconomics shows that domestic tax policy in a global economy affects foreign economic conditions via complex, dynamic interactions through relative prices, tax revenues, and wealth distribution. This paper proposes a tractable quantitative framework for assessing...
Persistent link: https://www.econbiz.de/10012470507
The impact of fiscal policy on economic activity is still a matter of great debate. And, ever since Keynes first commented on it, interwar Britain, 1918- 1939, has remained a particularly contentious case | not least because of its high debt environment and turbulent business cycle. This debate...
Persistent link: https://www.econbiz.de/10012453061
Why did the most prosperous colonies in the British Empire mount a rebellion? Even more puzzling, why didn't the British agree to have American representation in Parliament and quickly settle the dispute peacefully? At first glance, it would appear that a deal could have been reached to share...
Persistent link: https://www.econbiz.de/10012455956
Persistent link: https://www.econbiz.de/10001516091
The extent to which households can self-insure and the government can help them to do so depends on the wage risk that they face and their family structure. We study wage risk in the UK and show that the persistence and riskiness of wages depends on one's age and position in the wage...
Persistent link: https://www.econbiz.de/10012482512
Scholars emphasize that poverty in Britain has risen sharply since the late 1970s. Meanwhile in the United States, both official figures and traditional poverty scholars report sharp declines in poverty. We seek to provide a comparison of poverty levels in Britain and the US based on a set of...
Persistent link: https://www.econbiz.de/10012470471
Persistent link: https://www.econbiz.de/10002007246
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