We suggest a parsimonious dynamic agency model in which workers have status concerns. A firm is a promotion hierarchy in which a worker's status depends on past performance. We investigate the optimality of two types of promotion hierarchies: (i) internal labor markets, in which agents have a...

In this paper we examine debates concerned with national models of industrial organisation. One school of thought has argued that distinct national models, or business systems are a prevelent and enduring paradigm. Critiques of such an approach argue that common global competitive pressures will...