In this paper, we test the hypothesis that granting employee stock options motivates CEOs of banking firms to undertake riskier projects. We also investigate whether granting employee stock options reduces the bank's incentive to borrow while inducing a buildup of regulatory capital. Using a...

The accounting treatment of stock options issued to employees, not just those options issued to top executives, is one of many issues in the accounting profession being challenged and changed today. The debate regarding how to account for stock options has many nuances. For example, if stock...

In some parts of the country, innovation and experimentation have helped employer-assisted housing (EAH) programs gain momentum, providing New Englanders additional rationale for implementing these programs. This article describes how EAH works, its potential benefits, how it is being...

This paper presents four policy options to make Social Security sustainable under the coming demographic shift: 1) increase payroll taxes by 6 percentage points, 2) reduce the replacement rates of the benefit formula by one-third, 3) raise the normal retirement age from sixty-six to...

The link between taxes and occupational choices is central for understanding the welfare impacts of income taxes. Just as taxes distort the labor-leisure decision, they also distort the wage-amenity decision. Yet, there are no estimates of the full response on this margin. When tax rates...

It is often said that you won’t get rich working for the government, but you can’t beat the benefits. One form of these benefits is “Other Post-Employment Benefits"(OPEB), which represent government promises to employees to provide health care and other non-pension benefits after...