Implicit Contract Theory (Hardcover)

Hardcover. This volume brings together the most innovative and important work on implicit contract theory, a key area of research which has developed over the past 20 years. Implicit contract theory is concerned with the workings of the macro-labour market over business cycles and focuses on a series of key questions including, how economists can explain unemployment levels and employment fluctuations during recessions in terms of rational economic behaviour, and, why wages do not fall to clear the market. This volume brings together the most innovative and important work on implicit contract theory, which is concerned with the workings of the macro-labour market over business cycles. Shipping may be from multiple locations in the US or from the UK, depending on stock availability.