We examine theoretically and empirically the properties of the equilibrium wage function and its implications for policy. Our emphasis is on how the researcher approaches economic and policy questions when there is labor market heterogeneity leading to a set of wages. We focus on the application...

This paper investigates equilibria in a labor market where firms post wage/tenure contracts and risk-averse workers, both employed and unemployed, search for better paid job opportunities. Different firms typically offer different contracts. Workers accumulate general human capital through...

We present a model of wage contract violation that implies a possibility of multiple equilibria in the level of arrears. Positive feedback arises because each employer's arrears affect the costs of late payment faced by other employers operating in the same labor market, resulting in a network...

Dieses Buch bietet die für den deutschsprachigen Raum wohl umfassendste Darstellung des Arbeitsmarktgeschehens. Ein besonderes Gewicht liegt auf der engen Verzahnung von theoretischen mit empirischen Analysen unter Berücksichtigung des institutionellen Regelwerkes auf dem Arbeitsmarkt und...