We investigate wage-hours contracts within a four-period rent sharing model that incorporates asymmetric information. Distinctions are made among (a) an investment period, (b) a period in which the parties may separate (quits or layoffs) or continue rent accumulation and sharing, (c) a post...

Schools vary in quality, and high-performing schools tend to be oversubscribed: there are more applicants than places available. In this paper, we use nationally representative cohort data linked to administrative education records to study the consequences of failing to gain admission to one's...

This paper offers a contract-based theory to explain the determination of standard hours, overtime hours and overtime premium pay. We expand on the wage contract literature that emphasises the role of firm-specific human capital and that explores problems of contract efficiency in the face of...