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On the Role of Learning, Human Capital, and Performance Incentives for Wages
Camargo, Braz; Lange, Fabian; Pastorino, Elena - National Bureau of Economic Research - 2022
Performance pay in general amounts to only a small fraction of total pay. In this paper, we show that performance pay is nevertheless important for the level and dynamics of wages over the life cycle because of the incentives it indirectly provides for human capital acquisition and because of...
Persistent link: https://www.econbiz.de/10013334409
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Moral Hazard and Unemployment in Competitive Equilibrium
Rey, Patrick; Stiglitz, Joseph E. - National Bureau of Economic Research - 2024
Principal-agent models take outside options, determining participation and incentive constraints, as given. We construct a general equilibrium model where workers' reservation wages and the maximum punishment acceptable before workers quit are instead determined endogenously. We simultaneously...
Persistent link: https://www.econbiz.de/10014635663
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Labor Market Matching, Wages, and Amenities
Lamadon, Thibaut; Lise, Jeremy; Meghir, Costas; Robin, … - National Bureau of Economic Research - 2024
This paper develops the nonparametric identification of models with production complementarities, worker-firm specific disutility of labor and search frictions. Mobility in the model is subject to preference shocks, and we assume that firms can write wage contracts. We develop a constructive...
Persistent link: https://www.econbiz.de/10014635650
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Screening with Multitasking
Dinerstein, Michael; Opper, Isaac M. - National Bureau of Economic Research - 2022
What happens when employers would like to screen their employees but only observe a subset of output? We specify a model in which heterogeneous employees respond by producing more of the observed output at the expense of the unobserved output. Though this substitution distorts output in the...
Persistent link: https://www.econbiz.de/10013334527
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Supply, Demand, Institutions, and Firms : A Theory of Labor Market Sorting and the Wage Distribution
Haanwinckel, Daniel - National Bureau of Economic Research - 2023
This paper builds a general equilibrium framework with firm and worker heterogeneity, monopsony power, and task-based production to quantify the long-run effects of education, biased demand shocks, and minimum wage. I take it to Brazilian data for 1998 and 2012 and find that (i) supply and...
Persistent link: https://www.econbiz.de/10014322706
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The Power of Proximity to Coworkers : Training for Tomorrow or Productivity Today?
Emanuel, Natalia; Harrington, Emma; Pallais, Amanda - National Bureau of Economic Research - 2023
Amidst the rise of remote work, we ask: what are the effects of proximity to coworkers? We find being near coworkers has tradeoffs: proximity increases long-run human capital development at the expense of short-term output. We study software engineers at a Fortune 500 firm, whose main campus has...
Persistent link: https://www.econbiz.de/10014437011
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On the Allocation and Impacts of Managerial Training
Adhvaryu, Achyuta; Murathanoglu, Emir; Nyshadham, Anant - National Bureau of Economic Research - 2023
We study the allocation and productivity consequences of training production line supervisors in soft skills via a … randomized controlled trial. Consistent with standard practice for training investments within firms, we asked middle managers … -- who sit above supervisors in the hierarchy -- to nominate members of their supervisory team for training. Program access …
Persistent link: https://www.econbiz.de/10014322723
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Automation and Rent Dissipation : Implications for Wages, Inequality, and Productivity
Acemoglu, Daron; Restrepo, Pascual - National Bureau of Economic Research - 2024
This paper studies the effects of automation in economies with labor market distortions that generate worker rents--wages above opportunity cost--in some jobs. We show that automation targets high-rent tasks, dissipating rents and amplifying wage losses from automation. It also reduces...
Persistent link: https://www.econbiz.de/10014576564
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Labor Market Effects of Short-Cycle Higher Education Programs : Lessons from Colombia
Ferreira, María M.; Galindo, Camila; Urzua, Sergio - National Bureau of Economic Research - 2022
This paper estimates the heterogeneous labor market effects of enrolling in higher education short-cycle (SC) programs. Expanding access to these programs might affect the behavior of some students (compliers) in two margins: the expansion margin (students who would not have enrolled in higher...
Persistent link: https://www.econbiz.de/10013334396
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Intergenerational Transmission of Inequality : Maternal Endowments, Investments, and Birth Outcomes
Eshaghnia, Sadegh; Heckman, James J. - National Bureau of Economic Research - 2023
Newborn health is an important component in the chain of intergenerational transmission of disadvantage. This paper contributes to the literature on the determinants of health at birth in two ways. First, we analyze the role of maternal endowments and investments (education and smoking in...
Persistent link: https://www.econbiz.de/10014421186