This Comment examines Judge Papalia’s decision to suspend proceedings in the Chapter 11 corporate bankruptcy case In re Modell’s Sporting Goods, Inc. Controversially, this decision effectively postponed Modell’s commercial rent obligations during the COVID-19 economic shutdown. The Comment...

The theory of compensating wage differentials is generally accepted. It states that firms have to pay wage bonuses for hazardous work. However, there is as yet no strong or even contrary evidence for compensating wage differentials in Germany. By estimating wage regressions with data from the...

Implementation of workplace policies-whether through enforcement of laws or administration of programs-raises the question of the interaction between institutions created to carry out laws and the activities of workplace based agents that directly (e.g., unions) or indirectly (e.g., insurance...

Arthur Linton Corbin famously remarked that courts, when deciding contract cases involving the defense of impossibility or impracticability of performance, should “pray for the wisdom of Solomon.” This is particularly true when the event causing non-performance is labor activity. This...

Welfare economics—the normative branch of economics—is a consequentialist moral theory. Unlike deontological morality, at least in its basic form it attributes no intrinsic value to prohibitions on active or intentional harming of other people, lying, or promise breaking, and does not allow...

Joseph Fishkin’s new book, Bottlenecks, reinvigorates the concept of equal opportunity by simultaneously engaging with its complications and attempting to simplify its ambitions. Fishkin describes bottlenecks as narrow spaces in the opportunity structure through which people must pass if they...

This Handbook entry presents a conceptual, normative overview of the subject of taxation. It emphasizes the relationships among the main functions of taxation—notably, raising revenue, redistributing income, and correcting externalities—and the mapping between these functions and various...

We analyze the interaction between risk sharing and capital accumulation in a stochastic OLG model with production. We give a complete characterization of interim Pareto optimality. Our characterization also subsumes equilibria with a PAYG social security system. In a competitive equilibrium...

We develop a general equilibrium stochastic OLG model with heterogenous households. Households differ with respect to their productivity. Productivity depends stochastically on parents' unobservable investment in their child's human capital and an aggregate productivity shock. We introduce a...

We analyze the interaction between risk sharing and capital accumulation in a stochastic OLG model with production. We give a complete characterization of interim Pareto optimality. Our characterization also subsumes equilibria with a PAYG social security system. In a competitive equilibrium...