Ten years after the start of transition, there are many puzzles we still have to live with. Why did all countries experience strong declines in output at the outset of economic transformations and most of them are slowly, if at all, recovering from this "transitional recession"? How can these...

The literature on the economics of transition has devoted little, if any, attention to labour supply. We show in this paper that, properly accounting for labour supply adjustments permit to understand some of the most puzzling features of transition, such as the output fall, the strikingly low...

The distribution of total work in the EU and USA / Michael C. Burda, Daniel S. Hamermesh, and Philippe Weil -- Comments / Alberto Alesina, Christopher Pissarides -- Labor market effects of work-sharing arrangements in Europe / Francis Kramarz, Pierre Cahuc, Bruno Crépon, Oskar Nordström Skans,...

Partner selection is a vital feature of human behavior with important consequences for individuals, families, and society. Hypergamy occurs when a husband’s earning capacity systematically exceeds that of his wife. We provide a theoretical framework that rationalizes hypergamy even in the...