A rich but tractable variant of the Burdett-Mortensen model of wage setting behavior is formulated and a dynamic market equilibrium solution to the model is defined and characterized. In the model, firms cannot commit to wage contracts. Instead, the Markov perfect equilibrium to the wage setting...

An argument often adopted to explain the relatively scarce presence of Producer Co-operatives (PCs) in Western capitalist economies is the instability that may affect this type of firm during the positive phases of the business cycle. In a nutshell the argument is that in profitable industries...

The attached article explores a recurring conflict — the proper classification of workers under the Fair Labor Standards Act. In this paper, I examine the economic realities test, the legal test currently used to determine which workers are employees, and thus subject to the FLSA, and which...

This paper proposes a three-part test to help simplify worker classification and connect the law with the overall purposes of our economic system. Existing legal tests struggle to provide justifiable and workable guidance for courts, employers, and workers. One recent response has been an...