Dohmen, Thomas (contributor); Lehmann, Hartmut (contributor) - 2008
We use a rich personnel data set from a Russian firm for the years 1997 to 2002 to analyze how the financial crisis in … compensation levels never recovered to pre-crisis levels even though the firm's financial situation was better in 2002 than before … endogeneity of our plain risk measures
and employ an instrumental variable probit estimator (Wooldridge 2002, 472 …