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The Relevance of the Household Production Function and Its Implications for the Allocation of Time
- R. Pollak, M. Wachter
- EconomicsJournal of Political Economy
- 1 April 1975
This paper provides a critique of the household production function approach and its application to the allocation of time. It is argued that many applications of the model, especially those making…
Understanding the employment relation: the analysis of idiosyncratic exchange
- O. Williamson, M. Wachter, J. Harris
- Economics
- 1975
This paper is concerned with jobs for which nontrivial job-specific skills and task-specific knowledge evolve, in a learning by doing fashion, during the course of a worker's employment. Otherwise…
The New Jobs Tax Credit: An Evaluation of the 1977-78 Wage Subsidy Program
- J. Perloff, M. Wachter
- Economics
- 1979
The New Jobs Tax Credit was one of the four programs in the 1977 economic stimulus package. This program, although viewed primarily as a countercyclical measure, may also alter the equilibrium…
Evaluating the Evidence on Union Employment and Wages
- P. Linneman, M. Wachter, W. Carter
- Economics
- 1 October 1990
Using Current Population Survey data for the years 1973–86, this study tests the hypothesis that the steep decline of union employment shares since 1973 is related to increases in union wages…
Union Effects on Nonunion Wages: Evidence from Panel Data on Industries and Cities
- D. Neumark, M. Wachter
- Economics
- 1 October 1995
The authors test for threat and crowding effects of unions on non-union wages at the industry and city levels, using panel data on the percent organized and nonunion industry and city wage…
Toward a more general economic model of fertility determination: endogenous preferences and natural fertility.
- R. Easterlin, R. Pollak, M. Wachter
- Economics
- 1980
This essay formally presents the 1976 Pennsylvania school economic model of fertility behavior. It is suggested as an alternative to the "Chicago-Columbia" approach that dominates the current work on…
Shareholder Primacy's Corporatist Origins: Adolf Berle and 'The Modern Corporation'
- W. Bratton, M. Wachter
- Law
- 16 October 2007
Many corporate law discussants think of themselves as picking up where Adolf Berle and E. Merrick Dodd left off in a famous, precedent-setting debate in the 1930s. The generally accepted historical…
The Case Against Shareholder Empowerment
- W. Bratton, M. Wachter
- Business
- 1 October 2009
Many look toward enactment of the law reform agenda held out by proponents of shareholder empowerment as a part of the regulatory response to the financial crisis. This Article argues that the…
A Theory of Preferred Stock
- W. Bratton, M. Wachter
- Law
- 2013
Should preferred stock be treated under corporate law as an equity interest in the issuing corporation or under contract law as a senior security? Should a preferred certificate of designation…
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