A 1991 study by Paul Beaudry and John DiNardo found evidence of internal labor markets that simultaneously augment incumbent workers' wages when the external labor market is tight (when unemployment is low) and shield their wages when it is slack. Current wages, they found, depend on the...

A model focusing on the role of the individual in national and corporate culture clash situations, during post-merger integration, is presented. The theory of psychological contract is adapted to explain different individual expectations in domestic versus international mergers and acquisitions...

Why do money and markets crowd out cooperative relations? This paper characterizes the effects of intertemporal preferences, money, and markets on players' ability to cooperate in material-payoff supergames. Players' aversion to intertemporal substitution facilitates cooperation by decreasing...

Politicians and trade unions raise the issue of illegal employment in order to provoke support, voters feel negatively touched by the presence of illegal employment, often also associated with illegal immigration. In addition there was a severe discussion in Germany about passing a minimum wage...