This Paper Questions the Capacity of the Two Leading Categories of Contract-Based Models of the Business Cycle to Give a Satisfactory Explanation for the Dynamic Behavior of Aggregates. Firstly, an Expected Market-Clearing Model That Is Designed to Account for the Dynamic Propagation of Shocks...

In This Paper, We Present a Critical Review of the Main Characteristics of the Automobile Insurance Regime in Quebec, Emphasizing Both the Compensation and the Pricing of Insurance. Moreover, We Present a Recommendation in Order to Improve the Classification of Risks and to Increase Incentives...

We Embed an Efficiency Wage View of the Labor Market a la Shapiro and Stiglitz (1984) Into the Standard Hecksher-Ohlin Framework. We Demonstrate How a Small Trading Country Can Utilize an Activist Commercial Policy to Remedy Labor Market Inefficiencies. Laissez-Faire Is Not Optimal. the Optimal...

The Theory and Evidence Presented Here Suggest That the Distribution of Earnings, Within Enterprises, Is Subject to Modification Through Social Processes At the Workplace. a Wide Variety of Phenomena: Uniform Hourly Wages, Ceilings on Output, the Emergence of Cliques, the Reactin to Wage...

In this paper we describe the important features of executive compensation in the US from 1993 to 2006. Some confirm what has been found for earlier periods and some are novel. Notable facts are that: the compensation distribution is highly skewed; each year, a sizeable fraction of chief...