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using a new panel dataset on the remuneration of top executives in 246 firms. We find that government regulation …
Persistent link: https://www.econbiz.de/10013121089
In this paper we describe the important features of executive compensation in the US from 1993 to 2006. Some confirm what has been found for earlier periods and some are novel. Important facts about compensation are that: the compensation distribution is highly skewed; each year, a sizeable...
Persistent link: https://www.econbiz.de/10013150549
This paper uses stochastic simulation and my U.S. econometric model to examine the optimal choice of monetary policy instruments. Are the variances, covariances, and parameters in the model such as to favor one instrument over the other, in particular the interest rate over the money supply? The...
Persistent link: https://www.econbiz.de/10013228257
In this paper we examine the factors affecting the structure of executives' compensation packages. We focus particularly on the role of various types of delayed compensation as means of "bonding" executives to their firms. The basic problem is to design a compensation package that rewards...
Persistent link: https://www.econbiz.de/10013247010
result of powerful managers setting their own pay. Others interpret high pay as the result of optimal contracting in a …
Persistent link: https://www.econbiz.de/10013135394
through their various impacts on changes in production prices and wages. In a first stage, the estimation of a regression … average of industrial prices from other industries, and by indicators of country wages weighted by industry labour shares for … basis of their calibration by the OECD product and labour market anti-competitive regulation indicators suggests that nearly …
Persistent link: https://www.econbiz.de/10013046151
find that both labor demand and equilibrium wages become more rainfall sensitive when cultivators are offered rainfall … contract offered to agricultural laborers smoothes wages across rainfall states by inducing changes in labor supply. Policy …
Persistent link: https://www.econbiz.de/10013060688
This paper develops a simple equilibrium model of CEO pay. CEOs have different talents and are matched to firms in a competitive assignment model. In market equilibrium, a CEO%u2019s pay changes one for one with aggregate firm size, while changing much less with the size of his own firm. The...
Persistent link: https://www.econbiz.de/10012779748
service regulation. Using variation created by the rule's introduction as a natural experiment, we find claims costs rose …
Persistent link: https://www.econbiz.de/10012957378
How important is information disclosure through patents for subsequent innovation? Although disclosure is regarded as essential to the functioning of the patent system, legal scholars have expressed considerable skepticism about its value in practice. To adjudicate this issue, we examine the...
Persistent link: https://www.econbiz.de/10012917609