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. We expect incoming CEOs to take an earnings bath during the initial stage of their tenure. For a sample of German banks … accounting, during their first (partial) year in charge, (2) incoming CEOs from outside the bank take a larger earnings bath than … insiders, and (3) incoming CEOs take a smaller earnings bath when the incumbent CEOs retire than when they leave for other …
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We develop a new general equilibrium model of monopolistic competition with heterogeneous firms, variable demand elasticity and multiple asymmetric regions, in which trade integration induces wage and productivity changes. Using Canada-US interregional trade data, we structurally estimate a...
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