the author finds that owners give managers incentives to act in an accommodating way. As a result, optimal delegation …

question whether this has led to productivity gains within firms. I address this question by combining industry-level data on … offshoring and domestic outsourcing with a firm panel. I find that offshoring of non-core activities has led to productivity … gains whereas offshoring of core activities and domestic outsourcing have had no such effects. The estimated productivity …

productivity of a firm, the more likely it is to opt for centralized wage formation where it can hide behind less productive firms …

wage rate equal to their marginal productivity. However, this observation is not supported empirically for various … the Pigouvian exploitation rate. In this paper, the authors calculate this specific wage-productivity gap for the … government taxation, capital expansion, unionization, inflation. The authors find that the wage productivity gap gives a robust …

-unemployment regions). We suggest that the longer people are unemployed, the greater is the likelihood of falling into a low-productivity …) training subsidies. We show that the employment effects of these policies depend crucially on whether low-productivity traps …

-side policies are effective mainly when they increase the economy’s overall productivity and thereby help overcome the labor market …