work for. We reject, however, the efficient pay hypothesis as CEO pay and the demand for managers increases in Germany in … difficult times when the typical firm size shrinks. We find further that domestic and global competition for managers has …

wages to reflect this. Formal analysis supports the intuition. We use the dispersion of exam grades within a field of … education as an indicator of the heterogeneity that employers face. We find solid evidence that starting wages are lower if the … variance of exam grades is higher and that starting wages are lower if the skew is higher: employers shift quality risk to new …

bonuses under a Management-by-Objectives (MBO) incentive scheme. Six years of personnel data of 177 managers in a German …

knowledge sector is bounded, as productivity increases, the economy moves from a ?Solovian zone? where wages increase with … bliss point can only be made better-off by an increase in diversity. If wages are set by monopoly unions rather than set … employment in the material goods sector. International trade may reduce wages in poor countries and increase them in rich …