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...

Unlike the United States, Britain has no national laws regulating overtime hour assignment or compensation. Using individual-level data on male non-managerial workers from the 1998 British New Earnings Survey, the authors investigate relationships among the standard hourly wage rate, hourly...

We show that U.S. manufacturing wages during the Great Depression were importantly determined by forces on firms' intensive margins. Short-run changes in work intensity and the longer-term influence of potential productivity combined to influence real wage growth. By contrast, the external...

A major objective of the government during the Great Recession has been severely to restrict public sector real wage growth. One potential advantage of performance-related pay schemes is that they naturally offer greater wage responsiveness to fluctuations in the business cycle. Based on...

Using the British New Earnings Survey Panel Data for 1975–2001, the authors estimate the wage cyclicality (the degree to which wage levels rise and fall with economic upturns and downturns) of three groups: job stayers, within-company job movers, and between-company job movers. Wages of...