There has been growing interest in the impact of flexible employment contracts on workers affected by them. In the light of assumptions that such workers are significantly disadvantaged, European-wide legislation has been introduced to ensure that they are treated similarly to permanent...

This paper analyzes the economic foundations of a non-democratic political regime, where the ruling bureaucracy captures rents through collective control over state property and job assignment. The model developed here yields the equilibrium in the 'political labor market,' where the ruling...

We provide evidence that long-term relationships between trading parties emerge endogenously in the absence of third party enforcement of contracts and are associated with a fundamental change in the nature of market interactions. Without third party enforcement, the vast majority of trades are...