Existe una versión en español con el mismo número ; This paper applies the methodology developed by Forte and Peña (2006) to extract the implied default point in the premium on credit default swaps (CDS). As well as considering a more expensive international sample of corporations (96 US,...

The objective of our research is to investigate retailer market conduct in the sale of beverage milk using a structural model of consumer behavior and retailer optimality conditions that embrace a range of competitive scenarios. The study is based on an aggregate level analysis of retailer...

In Chapter 2, "Accounting for Cross-Country Differences in Intergenerational Earnings Persistence: The Impact of Taxation and Public Education Expenditure," I study the determinants of cross-country differences in intergenerational earnings persistence between fathers and sons. Western economies...

This paper explores the interaction between the federal Earned Income Tax Credit (EITC) and the cost-of-living faced by single mothers. After the 1993 EITC expansion, we identify up to a 10 percentage point increase in labor force participation for single mothers in the lowest cost areas but no...

This paper generalizes the standard model of how taxes affect the labor-leisure choice by allowing individuals to change both their labor supply and avoidance effort in response to tax changes. Doing so reveals that the income and substitution effect of taxes depend on both preferences and the...

An executive's firm-specific human capital is argued to be a critical resource to the executive's current organization, but because of its lack of transferability, is of little value outside the firm. We argue that there exists a form of firm-based knowledge, which we term firm-explicit human...

Since the 1990s, the effective global labor supply has increased strongly, in particular due to the integration of China and India into the global markets. This rise has also deteriorated the situation of low-skilled workers in advanced economies. This development raises important challenges for...

Frances Hesselbein is the former Chief Executive Officer of Girl Scouts of the U.S.A and the founding President of the Peter F. Drucker Foundation for Nonprofit Management. In this interview she describes her first encounter with Drucker at a reception in New York, where she met him, “…quite...

During Peter Drucker’s talk entitled "From Computer Literacy to Information Literacy" he discusses information systems and how they impact individual enterprises and workers. During his lecture, he talks about: the changing labor force, organization structure, command and control structure,...

During Peter Drucker's talk entitled "The Organization in Transition – Are the Traditional Functions Obsolete?" he discusses functions that remain centers of specialized knowledge and training, but cease to constitute the organizational base of the work itself. During his lecture, he talks...