Using data on team assignment and weekly output for all weavers in an urban Chinese textilefirm between April 2003 and March 2004, this paper studies a) how randomly assignedteammates affect an individual worker’s behavior under a tournament-style incentive scheme,and b) how such effects...

This paper proposes a theoretical framework to analyze the impacts of credit and technologyshocks on business cycle dynamics, where firms rely on banks and households for capitalfinancing. Firms are identical ex ante but differ ex post due to different realizations of firmspecific technology...

This paper explores theoretically and empirically potentially important yet often-neglectedlinkage between task coordination within the organization and the structure of organizationand bundling of HRMPs (Human Resource Management Practices). In so doing, we alsoprovide fresh insights on the...

This paper extends the cross sectionally augmented panel unit root test proposed byPesaran (2007) to the case of a multifactor error structure. The basic idea is to exploitinformation regarding the unobserved factors that are shared by other time series in additionto the variable under...

Does competitive pressure foster innovation? In addressing this important question, priorstudies ignored a distinction between discrete innovation aiming at entirely new technologyand continuous improvement consisting of numerous incremental improvements andmodifications made upon the existing...

By using a large new panel of individual data, including objective measures of workerperformance, we provide some of the most rigorous evidence to date on several relateddimensions of enduring debates surrounding upward-sloping earnings-tenure profiles...

We investigate the effect of forecast uncertainty in a cointegrating vector error correctionmodel for Switzerland. Forecast uncertainty is evaluated in three different dimensions. First,we investigate the effect on forecasting performance of averaging over forecasts fromdifferent models...

To investigate the size and the timing of the direct impact of participatory arrangements onbusiness performance, we assemble and analyze extraordinary daily data – for rejection,production and downtime rates for all operators in a single plant during a 35 month period,more than 77,000...

This paper considers a multivariate t version of the Gaussian dynamic conditional correlation(DCC) model proposed by Engle (2002), and suggests the use of devolatized returnscomputed as returns standardized by realized volatilities rather than by GARCH type volatilityestimates. The t-DCC...

This paper considers the implications of the permanent/transitory decomposition of shocksfor identification of structural models in the general case where the model might contain morethan one permanent structural shock. It provides a simple and intuitive generalization of theinfluential work of...