Labor organizations currently argue that reducing the standard working week will help lower the high unemployment of the 1980s. Opponents maintai n that this will increase labor costs, and therefore not alleviate un employment. This paper analyzes the employment effects of a cut in ho urs, using...

This paper attempts to provide an economic rationale for the existence and pattern of redundancy payments. A model of firm-specific training with uncertain returns to training and uncertainty about the outside options of workers is constructed for this purpose. The central result is that an...