Remittances are considered as an important component of GDP in many developing countries. In order to increase remittance inflows many countries are now actively involved in labour export and thereby competing with other labour exporting countries in the international market. In this paper we...

We examine how group-specific differences in reservation wage, arising due to asymmetries in social entitlements, impact on distribution via the joint determination of class conflict between workers and employers, and 'ethnic' conflict among workers. We model a two-dimensional contest, where two...

This paper explores the implications of gender-based income taxation in a non- cooperative model of a couple's time allocation between market work and providing a household public good. We find that the optimal structure of differential taxation by gender is solely determined by spouses'...

This paper aims to represent wage bargaining as an optimal control problem. Specifically, by assuming that employment follows a stock adjustment principle towards the level that maximises profits, i.e., towards labour demand, we build an intertemporal optimising model in which the real wage is...

This paper outlines a multisector dynamic model of the convergence of market prices to natural prices in conditions of fixed technology and composition of demand. Prices and quantities adjust in real-time in response to excess supplies and differential profit-rates. Finance capitalists earn...

This paper builds on the author's earlier work (1991, 1994, 1997a), which examines issues of agency in the Moral Sentiments and Wealth of Nations, by arguing that the emphasis, in debates about the so-called Adam Smith problem, on construing questions about human nature in terms of motives to...

The standard definition of labour value assumes that capitalists abstain from consumption during the period of replacement. The nonstandard definition of labour value assumes that capitalists consume. Both the transformation problem and the problem of an invariable measure of value are necessary...

We show that two models of the labor market, a Walrasian model and a labor contracting model, both have an approximate dynamic factor structure. We use this result to motivate our empirical approach to estimating the cyclical properties of real wages, which does not impose any structure between...