Behavior toward uncertain future inflation gives rise
to large diffuse externalities which result in market
failure and require introduction of legal restraints --
mandatory wage—price controls. Models of wage-profit
conflict and consumer vs. consumer rivalry are set out
in which…

The paper studies the microeconomic theory of inflation taxes and
marginal employment subsidies. It proves that under very weak assump-
tions (i) an inflation tax will reduce the 1ong—run equilibrium wage or
price and (ii) that a marginal employment subsidy…

Models of the labor supply behavior of single persons predict that a negative income tax (NIT) will always reduce the labor supply and
earnings of such persons. I consider three models of family labor supply; and find that in all…

I examine the extent to which workers who lose jobs find work in alterna-
tive employment arrangements such as temporary work, part-time work, and independent
contracting rather than as conventional full-time “regular” employees. The analysis is
based on data from…

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