In the conventional perfectly competitive model of the labour market, wage-setting is individualistic in the sense that identical workers should receive identical wages in different firms and different workers should receive different wages in the same firm. But, in reality, wages often seem to...

Little is known about the payoffs to apprenticeship training in the German speaking countries for the participants. OLS estimates suggest that the returns are similar to those of other types of schooling. However, there is a lot of heterogeneity in the types of apprenticeships offered, and...

We examine the relationship between the employment and compensation of managers and CEOs and the presence of a unionized workforce. We develop a simple efficiency wage model, with a tradeoff between higher wages for workers and more monitoring, which requires more managers. The model also...

Most countries experienced high and volatile inflation during the 1970s and part of the 1980s, and low and stable inflation thereafter. Professor Besley argues that the main contrast between these two periods is a significant change in central bank responses to inflation. Periods of high and...

The economics of search study the implications of frictions for individual behavior and market performance, due usually to imperfect information about exchange possibilities. This article reviews labor-market research in this area. Individuals search for a job offer by choosing a reservation...

Illustrated by case studies from Europe, North America and the Middle East, this book examines how non-market values can be identified, measured and incorporated into planning evaluation methodologies. The traditional means of assessing planning options, benefit-cost analysis, requires that all...

We investigate the impact of market-supporting institutions on business strategies by analyzing the entry strategies of foreign investors entering emerging economies. We apply and advance the institution-based view of strategy by integrating it with resource-based considerations. In particular,...

Purpose – The purpose of this paper is to provide a qualitative analysis of change in order to understand which factors inhibit or, conversely, facilitate the enactment process of managers' performance appraisal and reward systems. Design/methodology/approach – The problem is investigated...

Complex designs are often used to select the sample which is followed over time in a panel survey. We consider some parametric models for panel data and discuss methods of estimating the model parameters which allow for complex schemes. We incorporate survey weights into alternative point...

In this paper we explore the ways in which institutions and networks influence entrepreneurial development in Russia. By utilizing new Global Entrepreneurship Monitor (GEM) data collected in 2001, we investigate the effects of the weak institutional environment in Russia in terms of three...