Three central facts describe inter-firm worker mobility in modern labor markets: (1) long-term employment relationships are common; (2) most new jobs end early; and (3) the probability of a job ending declines with tenure. Models based on firm-specific capital provide a parsimonious explanation...

This chapter provides an overview of the methodological and practical issues that arise when estimating causal relationships that are of interest to labor economists. The subject matter includes identification, data collection, and measurement problems. Four identification strategies are...

One of the most striking features of European labor markets is the high incidence of longterm unemployment. In this chapter, we review the literature on its causes and consequences. Our main conclusions are that: the rise in the incidence of longterm unemployment has been "caused" by a collapse...

This chapter summarizes the empirical and theoretical research on executive compensation and provides a comprehensive and up-to-date description of pay practices (and trends in pay practices) for chief executive officers (CEOs). Topics discussed include the level and structure of CEO pay...

In this chapter, I survey principal econometric studies of several important labor market issues in Central and East European countries as they launched the transition from central planning to a market economy. The topics covered include employment, wage and fringe benefits determination in...