When companies fail workers lose their jobs which raises the unemployment rate and some displaced workers with less financial wealth, larger financial obligations, and who are the sole bread winners in a family become likely candidates for a personal bankruptcy filing. The central role played by...

The labor studies literature has for many years accepted the labor hoarding theory. That theory derives from seminal work by Oi (1962), Solow (1964), Miller (1971), and Fair (1985). Those studies argue that as a result of the absolute cost of hiring and training certain workers that even when...