Peer review influences decisively personal advancement, research opportunities, salaries, grant-funding, promotion, and tenure. It claims to exert quality control of manuscripts and improve them, to promote innovative research, foster dissemination of new research, and to serve as a means to...

The double-dividend argument (as used in political debates) addresses worries that a green tax may lead to higher unemployment when wages are inflexible. As protection against this possibility, it is proposed to use the proceeds of the green tax to subsidize employment. In the best case, this...

The paper incorporates the efficiency-wage theory into an otherwise standard trade model. The model accounts for sector-specific job rents and involuntary unemployment while preserving decisive properties of the competitive fullemployment approach. The key results from the literature can be...

This paper generalizes the analysis in Albert (1989) and Meckl (1990) of adjustment in a dynamic specific-factors model with endogenous capital stocks. Capital reallocation and accumulation are consequences of investment decisions and depreciation. The Investment process is analyzed under a...

The double-dividend argument (as used in political debates) addresses worries that a green tax may lead to higher unemployment when wages are inflexible. As protection against this possibility, it is proposed to use the green-tax proceeds to reduce the total tax burden of labor. Ideally, this...

We analyze the employment effects of immigration within a model that accounts for several stylized facts of the German labor market. The co-existence of positive wage spans and unemployment is explained by wage rigidities that are simultaneously caused by effciency-wage setting and minimum...

Common ratio effects should be ruled out if subjects' preferences satisfy compound independence, reduction of compound lotteries, and coalescing. In other words, at least one of these axioms should be violated in order to generate a common ratio effect. Relying on a simple experiment, we...

Common ratio effects should be ruled out if subjects’ preferences satisfy compound independence, reduction of compound lotteries, and coalescing. In other words, at least one of these axioms should be violated in order to generate a common ratio effect. Relying on a simple experiment, we...