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We present a model in which a motivator can take costly actions - or what we call motivational effort - in order to reduce the effort costs of a worker, and analyze the optimal combination of motivational effort and monetary incentives. We distinguish two cases. First, the firm owner chooses the...

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The labor market conditions that youth face at the typical age of labor market entry can impact their success in the labor market. Utilizing registry data for all Norwegian males born in 1961–1975, I demonstrate that local unemployment rates at the typical age of graduation from compulsory...

Global financial crises have revealed the systemic risk posed by economic contagion as the increasing interconnectedness of the global economy has allowed adverse events to spread across countries more easily. These adverse economic events can be attributed to contagion through either credit or...

Global financial crises have revealed the systemic risk posed by economic contagion. We provide perspectives on the formulation of a game between countries, central banks, banks, firms, households, and financial intergovernmental organizations to model the dynamics between players. We model...

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