This paper constructs a theory of the coexistence of fixed-term and permanent employment contracts in an environment …

flexible technology allowing for such option. Investment is irreversible and flexibility is costly. The problem is solved …. -- factor proportions ; technological choice ; flexibility ; real options ; alternative energy source …

excessive (greater than first-best) R&D investment and output growth. -- legal system ; commitment ; flexibility ; innovation …

In a Case Law regime Courts have more flexibility than in a Statute Law regime. Since Statutes are inevitably … most economic decisions are already taken. Therefore, the advantage of flexibility for Case Law is unavoidably paired with … pairs the lack of flexibility with the ability to commit in advance to a given (forward looking) rule. This solves the time …

educated (high earning) and low educated (low earning) women, I exploit a major maternity leave benefit reform in Germany that …