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 …

We derive a sufficient statistics optimal income tax formula in a general model that incorporates unemployment and … endogenous wages, to study the shape of the tax and transfer system at the bottom of the income distribution. The sufficient … resembles a Negative Income Tax than an Earned Income Tax Credit relative to the case where unemployment and wage responses are …

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 …

that incorporates unemployment and endogenous wages. This formula nests a broad variety of structures of the labor market … Income Tax (NIT) at the bottom of the income distribution, in the presence of unemployment and wage responses to taxation …, such as competitive models with fixed or flexible wages and models with matching frictions. Our results show that the …

'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 …