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According to most orthodox economists, labour market rigidities are the key culprit for such high unemployment as has been observed in Europe during t...
A Macroeconomic Perspective
Uses theoretical models to analyse the macroeconomic implications of the dual labour market. Includes an introduction to the techniques of dynamic pro...
How Does Technical Progress Affect Workers?
Karl Marx predicted a world in which technical innovation would increasingly devalue and impoverish workers, but other economists thought the opposite...
Behavioral Social Science and the Rise of Paternalism
The general assumption that social policy should be utilitarian--that society should be organized to yield the greatest level of welfare--leads inexor...
We develop a model to analyze the implications of firing costs on incentives for R & D and international specialization. The key idea is that, to avoi...
This paper develops a matching model of the labor market under wage rigidity when hiring decisions are irreversible. There are two types of workers, t...
The distributional effects of the minimum wage are analyzed in a model where skilled and unskilled labor enter the production function. It is argued t...
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A Macreoeconomic Perspective
A Tentative Survey
This paper discusses recent theoretical and empirical work on the interactions between growth and business cycles. One may distinguish two very differ...