Many labor markets are characterized by long-term employment relations and incomplete labor contracts. The employees’ effort, in particular, is typically not contractible so that effort needs to be enforced endogenously in repeated interactions. Theory and evidence shows that under these conditions fairness concerns play an important role in affecting effort choices and wage setting, rendering ...

We analyze wage developments in the East German transition process both at the macro and at the microeconomic level. At the macroeconomic level, we draw special attention to the important distinction between product and consumption wages, describe the development of various wage measures, labor productivity and unit labor costs in East Germany in relation to West Germany, and relate these devel...

In dynamic wage bargaining models it is usually assumed that individual unemployment benefits are a fraction of the average wage level. In most countries, however, unemployment benefits are instead tied to the previous level of individually earned wages. We show how the analysis has to be modified if this fact is taken into account and compare our findings for the wage-setting curve with outcom...

In this introduction the editors of Special Issue Sociologia del lavoro devoted to digital labor and crisis wage-labor system, analyse recent trends in scholarship platform capitalism aftermath pandemic outbreak. Platforms are not only a type business model - they have become crucial infrastructure around which society reorganizes itself. They extract value from traditional activities, but also...

Optimal asset allocation strategies of defined-contribution pension plans for members whose terminal utility is a power function of wealth-to-wage ratio is investigated in this paper. The portfolio problem is to maximize the expected terminal utility in the presence of three risk sources, interest risk, asset risk and wage risk. A closed form solution is found for the asset allocation problem a...

One of the oldest views on wage determination holds that wage differences reflect compensation for hedonic aspects of jobs such as the risk of injuries and occupational diseases. This paper studies the importance of such compensating wage differentials using longitudinal information on workers and firms. This data allows us to disentangle the wage and risk components that are attached to the wo...

The purpose of this study is to investigate the factors affecting the manufacturing industry wage among selected developing countries based on new economic geography theory. More specifically, we use a panel data model to study the spatial structure of wages in 136 countries for the period 1998-2007. The results indicate that this theory provides a good description of the spatial structure of w...