Pondering the puzzle of the “jobless recovery”

There's a simple reason Americans work longer hours than Europeans, says economist Ed Prescott. And it isn't what you think.

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.