A hedonic analysis of principal-agent employment contracts is developed, in which workers and employers exchange labor services and contractual payment patterns, and is applied to contract data from a household-level survey in rural China in 1935. The results indicate that credit-market...

This paper presents a simple general equilibrium model in which unemployed workers search for jobs and vacant firms search for employees. Formally, the author develops a two-sector, constrained efficient version of the Diamond-Mortensen-Pissarides matching model of trade coordination. This...