Using a model with constant relative risk-aversion preferences, endogenous labor supply and partial insurance against … cost associated with missing insurance markets. On the other hand, greater wage dispersion presents opportunities to raise … second moments of the joint distribution over individual wages, consumption and hours …

This paper presents theory and evidence on horizontal industry structure, focusing on situations where plant …

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 …

The principal-agent model of executive compensation is of central importance to the modern theory of the firm and …

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

of consumption insurance against shocks to male and female wages, as estimated empirically by Blundell, Pistaferri and … consumption, compared to the empirical estimates of 32% and 19%. Most of the consumption insurance against permanent male wage …-household income insurance mechanism strongly biases upward the welfare losses from idiosyncratic wage risk as well as the desired …

We compare wages in multinational enterprises (MNEs) versus domestic firms, the earnings of domestic firm workers with …–2011. We identify the returns to MNE experience from changes of ownership, wages paid by new firms of different ownership, and …

productivity of manager skills, and in which managers with higher compensation earn back their pay by delivering higher gross …