This paper explores the impact of product market competition on the positive relation between labor mobility (LM) and future stock returns. We develop a production-based model, which predicts a stronger positive relation between LM and expected returns for firms in highly competitive industries....

Using the matching function and the monthly and yearly data from 1992 to 2000 of 76 Czech districts, this paper studies district specific characteristics affecting matching efficiency. Among the conclusions, it was found that the higher the educational level of the labour force and the higher...

In this paper we question the hypothesis of full rationality in the context of job changing behavior, via simple econometric explorations on microdata drawn from WHIP (Worker Histories Italian Panel). A rational outcome of the job matching process implies a positive tradeoff between future wages...

Existing work studies the effects of corporate events — such as mergers and acquisitions (M&A) — on workers by examining changes in labor activity before and after the event. Using new data on individual job search behavior, we examine the timing of labor market activity around M&A events....

Employment relationships in the internet and technology sectors are highly dynamic with change and churn as the norm. Employees are now knowledge workers: highly educated, mobile, often with multiple cultural links, possibly exceeding other company assets in their comparable institutional value....

This paper uses a novel approach to measure firm entry and exit, mergers and acquisition. It uses information about the flows of clusters of workers across business units to identify longitudinal linkage relationships in longitudinal business data. These longitudinal relationships may be the...

Some have observed that individuals perform worse after being promoted. The Peter Principle, which states that people are promoted to their level of incompetence, suggests that something is fundamentally misaligned in the promotion process. This view is unnecessary and inconsistent with the...

Over long periods of human history, labor market equilibrium involved movements from low-wage areas to high-wage areas, a form of arbitrage under the implicit view that wage differentials corresponded to utility differentials. This “labor economics” view is likely to be viable as long as...

The paper discusses two approaches to spatial equilibrium in the labor market. The more traditional approach of labor economics assumes wage differentials represent arbitrageable differences in utility, with implications 1) that migration should be toward higher wage areas and 2) that migration...

The Austrian school is unique for its emphasis of the capital structure of an economy. In this paper, I explore what this “capital-based” approach to macroeconomics with its focus on capital as a structure and the heterogeneity of not only physical but also human capital might teach us about...