The dual labor market theory (DLM) posited the existence of two distinct labor markets working in parallel. A primary one is a place where high wages, employment stability and high opportunities for advancement are the norms. On the other hand, low wages, arbitrariness and less desirable working conditions determine a secondary market. The main…

The conferment of tenure at a United States university provides substantial job security to its recipients. Tenure is designed to allow a professor the ability to explore new and risky research questions without fear of losing their position due to lack of publications. At the same time, this policy creates an incentive system with an ambiguous…

Over the last several decades we have seen a fundamental transformation of higher education. Fifty years ago, 75% of faculty were in highly paid and secure tenure-track jobs, but today 75% are in non-tenure-track, or contingent positions. University administrators argue that this shift, and the low wages that accompany these positions, are…

Across the United States, colleges and universities are adding a significant number of adjuncts and non-tenure track instructors to fill their respective classroom voids as subsequently, fewer opportunities for tenure-track status professors are being made available. While there is an economic value in hiring non-tenure track faculty, many…

This paper analyses whether tertiary education of different types, i.e., academic or vocational tertiary education, leads to more or less favorable labor market outcomes. We study the problem for Switzerland, where more than two thirds of the workforce gain vocational secondary degrees and a substantial number go on to a vocational tertiary degree…

Evidence from North American pay practices was used to examine the question of whether the "old employment contact," according to which employees promised to exchange hard work for job security, has truly been replaced by a "new employment contract" based more on market forces. The study analyzed data from the following…

This document's seven papers examine compensation and employment risk in the United States and Canada. "Introduction" (John A. Turner) discusses compensation risk bearing in labor markets. "Wage and Job Risk for Workers" (John A. Turner) explores the problems of macroeconomic instability, job turnover, job and earnings…