We investigate wage differences between newly hired and incumbent employees in identical functions using detailed personnel data from a large number of banks. We first show in a formal model of job switching that (i) incumbents earn less than new recruits when human capital is mostly general but...

<Para ID="Par1">A growing body of programme evaluation literature recognises immigrants as a disadvantaged group in European labour markets and investigates the employment effects of Active Labour Market Programmes (ALMPs) on this subgroup. So far, however, there is no systematic review establishing which ALMPs...</para>

We use payroll data on 1.2 million bank employee years in the Austrian, German, and Swiss banking sector to identify incentive pay in the critical banking segments of treasury/capital market management and investment banking for 66 banks. We document an economically significant correlation of...

We use payroll data on 1.2 million bank employee years in the Austrian, German, and Swiss banking sector to identify incentive pay in the critical banking segments of treasury/capital market management and investment banking for 66 banks. We document an economically significant correlation of...