We analyze how bankruptcy laws affect the general equilibrium interactions between credit and wages. Soft laws reduce the frequency of liquidations and thus ex post inefficiencies, but they worsen credit rationing ex ante. This hinders firm creation and thus depresses labor demand. Rich agents...

I use panel data to examine whether long-term changes in industry wages are positively related to long-term changes in industry employment. Previous research using repeated cross-sectional data found no systematic relationship between these variables. Using standard fixed effects models to deal...

This paper examines the factors that influence transitions into self-employment, paying particular attention to gender differences. We find that: (i) men are more responsive to the wage differential between wage/salaried employment and self-employment; (ii) liquidity constraints are more...

A modification of existing sticky-wage models to account for the observed cyclical behavior of real wages by means of a model that introduces productivity factors into nominal-wage contracts.

A presentation of some new evidence on differences in the causes of high- and low-frequency movements in employment, focusing on whether the components of cyclical and secular (regional) variations in job growth follow similar patterns.

A study of whether changes in unionism affect the aggregate level of employment in the economy and, in particular, whether an individual who lives in an SMSA where unions are weak is more likely to be employed than an individual who lives in an area where unions are strong.

A discussion of sticky nominal wages, showing that nominal income or price-level targeting policies result in smaller distortions than do policies that target output or money.