Showing 1 - 10 of 508
This paper uses census and survey data to identify the wage earning ability and the selectivity of recent Romanian migrants and returnees. We construct measures of selection across skill groups and estimate the average and the skills-specific premium for migration and return for three typical...
Persistent link: https://www.econbiz.de/10013127753
Nonlinearity is an important consideration in many problems of finance and economics, such as pricing securities, computing equilibrium, and conducting structural estimations. We extend the transform analysis in Duffie, Pan, and Singleton (2000) by providing analytical treatment of a general...
Persistent link: https://www.econbiz.de/10013127979
Time preference is a key determinant of occupational choice and investments in human capital. Since careers are characterized by different wage growth prospects, individual discount rates play an important role in the relative valuation of jobs or occupations. We predict that individuals with...
Persistent link: https://www.econbiz.de/10013132747
I analyze two extensions to the standard model of life cycle labor supply that feature operative choices along both the intensive and extensive margin. The first assumes that individuals face different continuous wage-hours schedules. The second assumes that all work must be coordinated across...
Persistent link: https://www.econbiz.de/10013134860
There has been a significant correlation between United States inward foreign direct investment and the United States real exchange rate since the 1970s. Two alternative reasons for this relationship are that the real exchange rate affects the relative cost of labor and that the real exchange...
Persistent link: https://www.econbiz.de/10013134977
This paper surveys the recent literature on CEO compensation. The rapid rise in CEO pay over the past 30 years has sparked an intense debate about the nature of the pay-setting process. Many view the high level of CEO compensation as the result of powerful managers setting their own pay. Others...
Persistent link: https://www.econbiz.de/10013135394
Economists have often argued that "pay for performance" is the optimal compensation scheme. However, use of the simplest form of pay for performance, the piece rate, has been in decline in manufacturing in recent decades. We show both theoretically and empirically that these changes are due to...
Persistent link: https://www.econbiz.de/10013135877
Anecdotal evidence suggests that uncontrolled managers let wages rise above competitive levels. Testing this popular perception has proven difficult, however, because independent variation in the extent of managerial discretion is needed. In this paper, we use states' passage of anti-takeover...
Persistent link: https://www.econbiz.de/10013137228
This paper exploits a rich and largely untapped source of information on the wages and other characteristics of individual manufacturing plants to cast new light on recent changes in the United States wage structure. Our primary data source, the Longitudinal Research Datafile (LRD) , contains...
Persistent link: https://www.econbiz.de/10013138351
The main purpose of this study is to provide empirical evidence on the effects of the cigarette excise tax structure on three outcomes: cigarette prices, government revenues, and cigarette consumption. We composed cross-sectional time-series data for 21 EU countries from year 1998 to 2007 from...
Persistent link: https://www.econbiz.de/10013139133