The law stabilizes transactional relations by protecting the implicit expectations of the parties to contracts by various techniques including the imposition of mandatory and supplementary rules. The established pattern in the contract of employment of the protection of expectations of...

Academic research is a public good whose production is supported by the tuition- paying students that a faculty's research accomplishments attract. A professor's spot contribution to the university's revenues thus depends not on her spot research production, but rather on her entire cumulative...

This paper analyses a model in which firms cannot pay discriminate based on year of entry to a firm, and develops an equilibrium model of wage dynamics and unemployment. The model is developed under the assumption of worker mobility, so that workers can costlessly quit jobs at any time. Firms on...

We develop a rationale for the payment by firms of a wage premium on marginal, or overtime, weekly hours. We examine wage-hours contracts within the framework of a two-period specific human capital model with asymmetric information. The wage premium serves to achieve contract efficiency. For...

We develop a simple theoretical model showing that, by adding to the adjustment costs associated with permanent contracts, local social pressure against dismissals creates an incentive for CEOs to rely on fixed-term contracts, in an attempt to escape social pressure. Using linked...

Many authors have discussed a decline in internal labor markets and an apparent shift to a new employment contract, characterized by less commitment between employer and employee and more portable skills. These discussions occur without much evidence on what employment contract employees...

Two types of analyses intend to explain the determinants of labour contracts length. A first analysis emphasizes on the contracting costs and the level of uncertainty. The second analysis focuses on the incentive and selection effect of the contract length. This paper test the determinants for...

A hedonic analysis of principal-agent employment contracts is developed in which workers and employers exchange labor services and contractual payment patterns and is applied to contract data from a household-level survey in rural China in 1935. The results indicate that credit market...

We assess the development economics of on-farm employment with an eye toward policy implications. What do we know and what additional research is needed? The older tradition of labor market dualism and some of the more modern research are seen to share a characteristic of misplaced exogeneity,...

This paper provides a model that can account for the almost uniform staggering of wage contracts in some countries as well as for the markedly nonuniform staggering in others. In the model, short and long contracts as well as long contracts concluded in different periods are strategic...