percent and 1 percent of the within-firm wage distribution rise substantially. Instead, the effect on average wages is small …

evaluates that literature, clarifies what tournament theory predicts about the relationship, identifies methodological pitfalls … relationship between pay disparity and firm performance. Tournament theory offers a unified framework that can explain an inverted …

risk of unemployment two years after the treatment. However, the effects are heterogeneous as to gender, age, education …

economic conditions at the time of hiring on future wages. Measured by the labor's user cost, the price of labor is …

its strength and weakness, discuss its connections with theory, and draw out potential policy implications of its findings …

underestimate wages elsewhere. We document this anchoring bias by eliciting workers' beliefs in a representative survey in Germany …-wage firms, would not be viable at current wages. …

's theoretical framework: (i) wages are higher in states with more generous unemployment benefits, (ii) the perceived probability of … unemployment. We conclude that it is reasonable to view the wage curve as an empirical law of economics. -- wages ; unemployment … pay and the local unemployment rate - in modern U.S. data. Consistent with recent evidence from more than 40 other …