How and by how much do supervisors enhance worker productivity? Using a company-based data set on the productivity of technology-based services workers, supervisor effects are estimated and found to be large. Replacing a boss who is in the lower 10% of boss quality with one who is in the upper...

One of the economic benefits of immigration is that the diversity of the population is enhanced. Diversity, it is argued, enriches the environment in which individuals live and trade and may contribute to greater creativity. What does diversity mean? Do current immigration policies enhance...

It has long been recognized in finance and other literature that variance provides option value. The same point carries over to the labor market. Firms like variance in new employees because they can keep the good workers and terminate the bad ones. But market wages must adjust to make the...