The paper asks why retirement can be so abrupt in countries such as France (½% of the workforce over 65), yet staged in Japan (8% over 65). We find part of the answer in tax laws that prevent people working and receiving a pension, and make little allowance for fair pension increases if...

Many studies have examined the influence of union density (union members as a percentage of all workers) on earnings in the private sector, but few such studies have looked at the public sector. Using data from the 1991 Current Population Survey, this study estimates the determinants of earnings...

A 1996 survey of Hong Kong establishments designed to identify hiring and employment patterns by workers' age shows that, as in the United States, many firms employed older workers but did not hire older workers. This pattern appears to reflect mainly economic forces, rather than public policy,...

Profit sharing generates conflicting changes in the relationship between supervisors and workers. It may increase cooperation and helping effort. At the same time it can increase direct monitoring and pressure by the supervisor, and mutual monitoring and peer pressure from other workers that is...

We present a model in which workers with greater ability and greater risk tolerance move into performance pay jobs to capture rents and contrast it with the classic agency model. Estimates from the German Socio-Economic Panel confirm testable implications drawn from our model. First, before...

This paper identifies the unique strategic issues of cross-border mergers in a mixed oligopoly showing that the presence of a welfare maximizing public firm increases the incentive for such mergers. The well-known merger paradox that two-firm mergers are rarely profitable is substantially...