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We show that industrial ownership structures, such as keiretsu groupings in Japan, may significantly impact firms …
Persistent link: https://www.econbiz.de/10013310127
This paper offers a comparative study of the evolution of employment systems in the U.S. and Japan, using a game ….S.and Japan during the first three decades of this century. In both countries, employment relations evolved from ones governed by …-term contracts and company-wide employee representation.The paper then documents the subsequent processes of bifurcation. While Japan …
Persistent link: https://www.econbiz.de/10013240618
, the paper documents parallel institutional developments in the U.S. and Japan towards corporate welfarism during the 1920s …, most major employers in Japan maintained their implicit contracts, while developing institutional arrangements to mitigate … the cost of long-term commitment. In contrast to the U.S., labor laws in Japan developed complementary to private welfare …
Persistent link: https://www.econbiz.de/10013247185
To what extent do immigrants and the native-born work in separate workplaces? Do worker and firm characteristics explain the degree of workplace concentration? We explore these questions using a matched employer-employee database that extensively covers employers in selected MSAs. We find that...
Persistent link: https://www.econbiz.de/10013135874
The 1998 Master Settlement Agreement resolved the unprecedented litigation in which the states sought to recoup the cigarette-related Medicaid costs. The litigation was settled through a combination of negotiated regulatory requirements and financial payments of about $250 billion over 25 years....
Persistent link: https://www.econbiz.de/10013116702
For the first four decades of its existence the U.S. nuclear power industry was run by regulated utilities, with most companies owning only one or two reactors. Beginning in the late 1990s electricity markets in many states were deregulated and almost half of the nation's 103 reactors were sold...
Persistent link: https://www.econbiz.de/10013121046
Does the mere presence of big banks affect macroeconomic outcomes? In this paper, we develop a theory of granularity (Gabaix, 2011) for the banking sector, introducing Bertrand competition and heterogeneous banks charging variable markups. Using this framework, we show conditions under which...
Persistent link: https://www.econbiz.de/10013081202
The recent fall of labor's share of GDP in numerous countries is well-documented, but its causes are poorly understood. We sketch a “superstar firm” model where industries are increasingly characterized by “winner take most” competition, leading a small number of highly profitable (and...
Persistent link: https://www.econbiz.de/10012964393
We examine whether and to what extent consolidation in the U.S. health insurance industry is leading to higher employer-sponsored insurance premiums. We make use of a proprietary, panel dataset of employer-sponsored healthplans enrolling over 10 million Americans annually between 1998 and 2006...
Persistent link: https://www.econbiz.de/10013150447
We thank Lakshmi Aiyar, Shawn Cole, Stijn Claessens, Oded Galor, Adair Morse, Mark Rosenzweig, Jeremy Stein, as well as participants in seminars at the IMF, the NBER Political Economy, Corporate Finance, and Growth Workshops, M.I.T., Northwestern University, the University of Chicago, the WFA...
Persistent link: https://www.econbiz.de/10013152442