essential heterogeneity, the paper identifies strong positive returns to education in terms of employment and wages. Marginal …

The paper is intended to explain low sensitivity of employment decisions observed in transition economies where insider … ownership prevails and capital markets are not highly developed. We introduce a stability concept for employment levels of a … labor-managed firm and prove that there exists a segment of stable employment levels. If a level belongs to the interior of …

This paper presents a comparative analysis of employment and wage behavior of firms in the Czech Republic, Slovakia …, Poland, Hungary and Russia during the late 1980s to the early 1990s. The four main findings are: 1) There is evidence of some … of demand grew over the transition, starting from zero in Russia, the Czech Republic and Slovakia and from sizeable …