This Paper examines the impact of mergers and acquisitions on the remuneration of the CEOs in a large unbalanced panel of UK firms, over the period 1981-96. We find significant and substantial executive pay increases in excess of those generated by the growth in firm size consequent upon the...

This Paper analyses the economic issues associated with human cloning and new reproductive technologies. We analyse the incentives for human cloning and its implications for the long run distribution of skills and income. We analyse models of human cloning for different motives, focusing on...

Achieving well in school, and completing Year 12, have significant employment and earnings outcomes for young people a decade or more after leaving school. Early school leavers have less chance of securing full-time employment, and a problematic early start in the labor market can be difficult...

In 1986, Congress attempted to reduce the incentives for unauthorized migration by eliminating U.S. employment opportunities for unauthorized workers. To recognize the commitment that many unauthorized workers had already made to the U.S. labor market, amnesty was granted to approximately 1.7...

This paper analyses the decline in unskilled employment in UK manufacturing.

Throughout the post-war era until 1995 labour productivity grew faster in Europe than in the United States. Since 1995, productivity growth in the EU-15 has slowed while that in the United States has accelerated. But Europe’s productivity growth slowdown was largely offset by faster growth in...

We estimate a finite mixture dynamic programming model of schooling decisions in which the log wage regression function is set in a random coefficient framework. The model allows for absolute and comparative advantages in the labour market and assumes that the population is composed of eight...

We estimate a dynamic programming model of schooling decisions in which the degree of risk aversion can be inferred from schooling decisions. In our model, individuals are heterogeneous with respect to school and market abilities but homogeneous with respect to the degree of risk aversion. We...