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Fluctuations and rigidities in local labor markets, part II: reinterpreting contract theory

Abstract:

Local labor markets are characterized by rigidities in their patterns of adjustment to short-run fluctuations. With or without unions, fluctuations in employment, hours worked, and money wages are unlike the patterns predicted by conventional discrete-exchange labor-market theories. Moreover there are distinct geographical and industrial patterns in the observed rigidities. Neoclassical implicit contract theory has been vindicated. Or has it? Obvious empirical difficulties remain, especially ...

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Publication status:
Published
Peer review status:
Peer reviewed

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Publisher copy:
10.1068/a150365

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Institution:
University of Oxford
Research group:
Transformations: Economy, Society and Place
Oxford college:
St Peter's College
Department:
Social Sciences Division - Environment,Centre for the - Geography,School of
Role:
Author
Publisher:
Pion Ltd. Publisher's website
Journal:
Environment and Planning A Journal website
Volume:
15
Issue:
3
Pages:
365-377
Publication date:
1983-01-01
DOI:
EISSN:
1472-3409
ISSN:
0308-518X
URN:
uuid:749de5f1-c1f7-4477-8f5c-8dbe2499bcab
Local pid:
ora:1965
Language:
English
Keywords:
Subjects:

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