this risk. We use our theory to interpret some executive compensation data from the early 1970's. The results are generally …

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 …

Firms are more complicated than standard principal-agent theory allows: firms have assets-in-place; firms endure …

within education groups, our theory helps to explain (1) rising wage inequality between groups, and (2) rising wage …

'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 …

impact of technical change on relative wages and unemployment in a world in which one country has flexible and the other … the unskilled. By contrast, in Europe it is undoubtedly the rise and persistence of unemployment. Technology has been … European unemployment. This paper seeks to provide a unified account of these major factor market developments. It models the …

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 …