While in the US stock-based incentives are commonly used since the 50s of the last century, in Germany they were invented only some ten years ago. Even in 1996 firms faced considerable regulatory difficulties when willing to grant such incentives. In the meantime the legal environment has...

This paper presents a theoretical study of how incentives affect hedge fund risk and returns and an empirical study of the performance of a large group of operating hedge funds. Most hedge fund managers receive a flat fee plus a share of the returns above a certain benchmark. We investigate how...

This paper studies gender differences in labor market outcomes using data from an Internetbased CV database. The women in the database get fewer firm contacts than men, and we show that this is partly explained by differences in education, experience and other skills, is not explained by...

Reported attitudes towards immigrants are sometimes used as a proxy for ethnic discrimination. However, there is little empirical evidence of a link between attitudes and discrimination. In this paper, we use survey data on people's attitudes towards immigrants combined with data on ethnic...

Sweden has undertaken major national reforms of its school sector which, consequently, has been classified as one of the most decentralized ones in the OECD. This paper investigates whether school resources became more unequally distributed across municipalities in connection with the reforms...

This paper analyzes how student achievement is affected by resource increases in the Swedish compulsory school due to a special government grant that was enforced in the academic year of 2001/02. The analysis is based on register data that contains all students that completed compulsory...

I decompose the cross-sectional variance of male annual earnings in Sweden between 1960 and 1990 into permanent and transitory components. The transitory variance increased until the early 1970s, declined during the remainder of the decade and then rose again during the second half of the 1980s....

We examine peer effects in welfare use among immigrants to Sweden by exploiting a governmental refugee placement policy. We distinguish between the quantity of contacts - the number of individuals of the same ethnicity - and the quality of contacts - welfare use among members of the ethnic...

This paper analyses crucial design features of unemployment insurance (UI) policies. We examine three different means of improving the efficiency of UI: the duration of benefit payments, monitoring in conjunction with sanctions, and workfare. To that end we develop a quantitative model of...

Influenced by a major tax reform in the beginning of the 1990s and by the exceptional boom in the stock market at the end of this decade the level as well as the inequality of the wealth of Swedish households have increased. The large baby-boom cohorts of the 1940s have been successful in...