The paper introduces a model of enterprise formation in a unionized economy with labor protection and wage bargaining. Enterprise formation is subject to future market risk and is shaped by labor market institutions in the post-entry stage. The predictions of the model are tested in...

This paper provides an empirical investigation into the relationship between ex ante U.S. labor contract durations and uncertainty over the period 1970 to 1995. We construct measures of inflation uncertainty as well as aggregate nominal and real uncertainty. The results not only corroborate...

Some authors have argued that multiplicative uncertainty may benefit society as the cautionary motive reduces the inflation bias. However, when there are non-atomistic wage setters, higher multiplicative uncertainty may raise the wage premium and unemployment and thus reduce welfare....

This chapter studies how and why artistic labor markets have expanded along a path of unbalanced growth. Long-term employment which nurtures the Baumolian cost disease persists only in large, heavily subsidized and sponsored organizations. The now dominant project-based system of production,...

This paper studies the impact of an increase in uncertainty on labor markets where jobs with strong employment protection coexist with temporary contracts. We develop a search and matching model where firms and workers choose the type of contract. The model allows for endogenous separations and...

We investigate to what extent workplace unionisation protects workers from external shocks as predicted by models of implicit contracts. Using the COVID-19 pandemic as a plausibly exogenous shock hitting the whole economy, we compare workers who worked in unionised and non-unionised workplaces...

Using the American General Social Survey covering the period 1978-2008, the authors investigate the link between union membership and perceived job insecurity. They find that overall, union members are 3.5 percentage points more likely than non-union members to feel insecure about their current...

We investigate to what extent workplace unionisation protects workers from external shocks as predicted by models of implicit contracts. Using the COVID-19 pandemic as a plausibly exogenous shock hitting the whole economy, we compare workers who worked in unionised and non-unionised workplaces...

In a kind of double paradox, the French government started a major reform of the country's capital taxes during the final year of the current legislature, concurrently with its dismantling of the “fiscal shield” that symbolised the 2007 TEPA Work, Employment and Purchasing Power law (Loi...

This paper studies theoretically and empirically why and how labor policies may reduce productivity and employment in order to stabilize labor incomes and redistribute resources. It proposes a specific stylized model where the tradeoffs facing labor policies are influenced by structural factors,...