This chapter reviews the literature on employment and labor law. The goal of the review is tounderstand why every jurisdiction in the world has extensive employment law, particularlyemployment protection law, while most economic analysis of the law suggests that lessemployment protection would...

In a Cournot-oligopoly with free but costly entry and business stealing, output per firm is too low and the number of competitors excessive, assuming labor productivity to depend on the number of employees only or to be constant. However, a firm can raise the productivity of its workforce by...

Efficiency wage models of the labor market have become one of the key elements of the New and Post-Keynesian Schools of thought. In this paper, we argue that the concept of efficiency wages is not traditional to Keynesian economics, and that these schools developed the theory's modern relevance...