the executive. Agency theory remains the only viable candidate for answering the question about how executive compensation … compensation, in the context of agency theory. We suggest two fertile areas for research regarding the improvement of executive …

unemployment. We show that heterogeneity, reflecting differences in match quality and worker assets, reduces the extent of … fluctuations in separations and unemployment. We find that the model faces a trade-off--it cannot produce both realistic dispersion … in wage growth across workers and realistic cyclical fluctuations in unemployment …

reservation wages to unemployment benefits. Some existing estimates imply significant gains to raising the current level of … unemployment benefits in the United States, but highlight the need for more research on the determinants of reservation wages. Our … welfare. This insight leads to a novel test for the optimality of unemployment insurance based on the responsiveness of …

's theoretical framework: (i) wages are higher in states with more generous unemployment benefits, (ii) the perceived probability of … pay and the local unemployment rate -- in modern U.S. data. Consistent with recent evidence from more than 40 other … job-finding is lower in states with higher unemployment, and (iii) employees are less happy in states that have higher …

This paper develops a simple framework for examining human capital accumulation, unemployment, and relative wages in a …, technical change, and a productivity slowdown. We derive the consequences for the skilled-to-unskilled wage gap, unemployment …

regional (or industry) unemployment. This "wage curve" is estimated using microeconomic data for Britain, the US, Canada, Korea …, Austria, Italy, Holland, Switzerland, Norway, and Germany, The average unemployment elasticity of pay is approximately -0 …

unemployment, called ranking. With the filling of vacancies unaffected by the selection rule, both equilibria have the same … aggregate dynamics, but different distributions of unemployment durations. With the threat point for the Nash bargained wage … being a worker with zero unemployment duration, the wage with ranking is much more sensitive to changes in the tightness of …

This paper, which follows in an LSE tradition begun by Phillips and Sargan, examines the role of unemployment in … a variety of data sets as a check on the robustness of results, and 3) studies the effects of unemployment on the real … curve. The curve has a negative gradient at low levels of unemployment, but becomes horizontal at relatively high levels of …