employed workers in competitive labor markets. The reason is that employers may not comply with the minimum wage legislation … and instead pay a lower subminimum wage rate. If workers are risk neutral, we prove that working hours and welfare are … invariant to the minimum wage rate. If workers are risk averse and imprudent (which is the empirically likely case), then …

Sick workers in many countries receive sick pay during their illness-related absences from the workplace. In several … countries, the social security system insures firms against their workers' sickness absences. However, this insurance may create … blue-collar workers' sickness absences was abolished (firms did not receive a similar refund for their white-collar workers …

The process of matching between firms and workers is an important mechanism in determining the distribution of wages …. In a labor market characterised by large dispersion of workers' productivity and worker-firm complementarity, high … quality firms have strong incentives to screen for the quality of workers. This process will increase the positive quality …

labor in favor of employing free skilled workers, thereby incentivizing the masses to engage in broad-based human capital …

We study the descriptive and substantive representation of workers through worker representatives, focusing on the … leads to substantial wage gains for the elected, concentrated among blue-collar workers. Representatives are positively …, show greater interest in politics, and lean left politically compared to the employees they represent; blue-collar workers …

generation and can thus be used as a commitment device for low taxes. …

that global carbon taxes remain elusive, policy makers have to use a second-best subsidy. In case of credible commitment … transition to the carbon-free takes longer and cumulative carbon emissions are higher. Under first-best and second best with pre-commitment … peak warming is 2.1 - 2.3 °C, under second best without commitment 3.5°C, and without any policy temperature 5.1°C above …

can thus use promises not to vote-sell as a commitment device. An invitation to promise not to vote-sell is taken up by a …

the role of long-run and short-run price stickiness under discretion and commitment in a straightforward and intuitive way … when a commitment to hold nominal rates at zero for an extended period is optimal. We then introduce government spending …