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.

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Bibliographic Details

Title: Implicit Contract Theory
Publisher: Edward Elgar Publishing Ltd, GB
Publication Date: 1994
Language: English
ISBN 10: 1852787481
ISBN 13: 9781852787486
Binding: Hardback
Condition: New

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Edited by the late Sherwin Rosen, formerly, Edwin A. and Betty L. Bergman Professor, Department of Economics, University of Chicago, US

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