The authors hypothesize that in industries with relatively high levels of job-related injury risk, workers with longer job tenure will more clearly appreciate the degree of job risk than will newly hired workers, and will thus be more willing to accept lower wages in return for higher workers'...

The two-country monetary model is extended to include a consumption externality with habit persistence. This is set within a limited participation framework. The model is simulated using the artificial economy methodology. The 'puzzles' in the forward market are re-examined. The model is able to...

We present a simple framework in which both the exchange rates disconnect and forward bias puzzles are simultaneously resolved. The flexible-price two-country monetary model is extended to include a consumption externality with habit persistence. Habit persistence is modeled using Campbell...