Incentive provision is a central question in modern economic theory. During the run up to the financial crisis, many banks attempted to encourage loan underwriting by giving out incentive packages to loan officers. Using a unique data set on small business loan officer compensation from a major...

We present a model of aggregate fluctuations in which monopolistic firms face sunk costs to enter the production process and labor markets are characterized by search and matching frictions. Entrants post vacancies and are matched to idle workers. Our specification of sunk costs gives rise to a...

The purpose of this paper is to develop a model that integrates inventory and labor decisions We extend a model of inventory behavior to include a detailed specification of the role of labor input in the production process and of the costs associated with it In particular we distinguish between...

This paper introduces a new IV strategy based on IVF (in vitro fertilization) induced fertility variation among childless women to estimate the causal effect of having children on their career. For this purpose, we use administrative data on IVF treated women in Denmark. Because observed chances...

Reporters and editors may not have the same ideology. When an editor wants to employ a new reporter with a different ideology, they have to negotiate the price of moving from their own to the other's ideology. We focus on the job market for reporters, where the agents negotiate over the...

The relative importance of migrant workers has been increasing in the world economy. Conscious of their growing numbers, the migrant-receiving and migrant sending countries have agreed to grant social security benefits to migrant workers and their families. To this end they have ratified or...

We study optimal employment contracts for present-biased employees who can conduct on-the-job search. Presuming that fims cannot offer long-term contracts, we find that individuals who are naive about their present bias will actually be better off than sophisticated or time-consistent...

Retirement wealth is often viewed as a great equalizer, offsetting the inequality in standard household net worth. One of the most dramatic changes in the retirement income system over the last two decades has been a decline in traditional Defined Benefit (DB) pension plans and a sharp rise in...

Employer-provided health benefits for workers who retire before age 65 has fallen over the last decade. We examine a cohort of male workers from the Health and Retirement Survey to explore the dynamics of retiree health benefits and the relationship between retiree health benefits and retirement...