Labor Market Equilibrium and Friction. The employment relationship: Job attachment, work effort, and the nature of contracts (D.O. Parsons). Job search and labor market analysis (D.T. Mortensen). The natural rate of unemployment: Explanation and policy (G.E. Johnson, P.R.G. Layard). Cyclical fluctuations in the labor market (D.M. Lilien, R.E. Hall). The Institutional Structures of the Labor Market. The analysis of union behavior (H.S. Farber). The economics of strikes (J. Kennan). Union relative wage effects (H.G. Lewis). Segmented labor markets (P. Taubman, M.L. Wachter). Public sector labor markets (R.G. Ehrenberg, J.L. Schwarz).