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Risk-averse job seekers fearing the scarring effect of unemployment meet vacancies offering contractual employment protection (CEP) in form of guaranteed employment (GEC) or severance pay contracts (SPC). A GEC fully eliminates both the income risk and the scarring risk of unemployment. SPC...
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Review of: The Political Economy of Property Rights. Ed. by David L. Weimer. 1997. Cambridge University Press: Cambridge
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