During the "Age of Mass Migration", many Chinese migrants came to the Netherlands Indies. We propose that these migratory flows included many skilled workers, contrary to the belief that they mostly consisted of unskilled labourers. We construct a new dataset of migration and potential surplus...

We study the evolution of pay in US bank holding companies since 1986 using a structural model of the banking firm. The model incorporates a strong complementarity between capital provided by shareholders and bankers' talent and its non-contractible effort. Bankers' pay is given as solution to...