Occupational prestige or job status may induce people to remain unemployed even when jobs are available. Thus measured unemployment will always have a voluntary component. Accumulated wealth in a family tends to increase the opportunity cost of job search, more so in a world where job status is...

General equilibrium model of international trade has profoundly impacted various sub-disciplines of economics such as development economics, public economics, and environmental economics, among many others. These models continue to inspire younger generations of researchers and are used as...

We provide an analysis of enforcement policies applicable to formal sector in dual labor markets. Using a framework with heterogeneous firms, endogenous determination of informal wage and politically dictated enforcement strategies, we show that firms which operate both in the formal and...

We provide an analysis of enforcement policies applicable to formal sector in dual labor markets. We use a framework with heterogeneous firms, endogenous determination of informal wage and politically dictated enforcement strategies. Firms which operate both in the formal and informal sectors do...

Rent seeking within the vast informal segment of the developing world is a relatively underdexplored topic in the interface of labor market policies and public economics. Moreover, how rent seeking and corruption within the informal segment is affected by economic reforms targeted for the formal...