Der Bericht faßt die wichtigsten Ergebnisse eines Gutachtens zusammen, das im Auftrag des Freistaates Sachsens vergeben wurde. Zunächst wird der Arbeitsmarkt seit der Wende bis Ende 1993 dargestellt. Hauptproblem der Arbeitslosigkeit war der rasche Produktionseinbruch, der durch schleppende...

Based on the methodology of Beaudry and DiNardo (1991), this paper investigates the relative importance of the spot market and implicit contracts in the determination of British real wages. Empirical work is carried out separately for males and females with individuallevel data taken from the...

We explore the role of firms in insuring non-verifiable output. As a device that allows workers to commit to thedelivery of their output, the firm arises endogenously as an alternative to the market if workers are sufficiently riskaverse and the firm can base its incentive payments on good...

I test the evidence for implicit contracts across different regimes of industrial relations in Germany. The result is that there is strong evidence for implicit contracts. Comparing regimes of industrial relations, I find stronger support for implicit contracts in firms with individual...

We exploit time variation in the degree of development of local credit markets and matched employer-employee data to assess the role of the firm as an internal credit market. In less developed local credit markets firms can offer a flatter wage-tenure profile than firms in more developed credit...

We study the wage growth of job stayers over the business cycle, and show that wage adjustments within a job spell display significant history dependence. This is at odds with the spot market model, which implies that the wage growth of a worker within a job spell depends solely on the change in...

After a brief survey of the Japanese literature on Sraffa, the author explains how his own theory of the microfoundations of Keynesian macro-economics was influenced by Sraff's view of competitive markets. This view can be interpreted that firms perceive kinked demand curves. It is emphasized...

This article studies financial schemes for building public works in the 1840s. The study of the Portuguese case clearly illustrates the importance of implicit contracts with governments in peripheral Europe, shedding light on solutions for financing the provision of public goods. Building roads...