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Search in the Labor Market Under Imperfectly Insurable Income Risk
Roca, Mauro - International Monetary Fund (IMF) - 2009
This paper develops a general equilibrium model with unemployment and noncooperative wage determination to analyze the importance of incomplete markets when risk-averse agents are subject to idiosyncratic employment shocks. A version of the model calibrated to the U.S. shows that market...
Persistent link: https://www.econbiz.de/10008528693
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Wage Gaps and Development; Lessons From U.S. History
Mourmouras, Alex; Rangazas, Peter - International Monetary Fund (IMF) - 2007
During the course of development, wages and labor productivity are much higher in the nonfarm sectors of the economy than in agriculture. In this paper, we examine the sources and consequences of wage and productivity gaps in the U.S. from 1800 to 2000. We build a quantitative general...
Persistent link: https://www.econbiz.de/10005599726
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Employment Cyclicality and Firm Quality
Kahn, Lisa B.; McEntarfer, Erika - 2014
Who fares worse in an economic downturn, low- or high-paying firms? Different answers to this question imply very different consequences for the costs of recessions. Using U.S. employer-employee data, we find that employment growth at low-paying firms is less cyclically sensitive. High-paying...
Persistent link: https://www.econbiz.de/10010468174
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The Labor Market Impacts of Employer Consolidation: Evidence from Germany
Todd, Kevin; Heining, Jörg - 2020
We use detailed administrative data to study how acquisitions - specifically the acquisition of a plant by a firm with a similar plant in the same local labor market - affect workers. Using an event study framework with a control group of workers at unaffected plants, we find that acquisitions...
Persistent link: https://www.econbiz.de/10012518493
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Employment cyclicality and firm quality
Kahn, Lisa B.; McEntarfer, Erika - 2014
Who fares worse in an economic downturn, low- or high-paying firms? Different answers to this question imply very different consequences for the costs of recessions. Using U.S. employer-employee data, we find that employment growth at low-paying firms is less cyclically sensitive. High-paying...
Persistent link: https://www.econbiz.de/10010436157
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Flexicurity and the economic crisis 2008 - 2009 : evidence from Denmark
Eriksson, Tor - 2012
A key feature of the Danish labour market is its so-called flexicurity, the coexistence of flexibility (low adjustment costs for both employers and employees) and security (owing to a developed social safety net with high coverage and high replacement ratios). This is often believed to have...
Persistent link: https://www.econbiz.de/10009683156
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A Structural Estimation of the Cost of Suboptimal Matching in the CEO Labor Market
Nickerson, Jordan - 2013
Using a structural model, I examine the distortionary effects of frictions in the CEO labor market. Firms experience productivity shocks over time and either outgrow or underutilize their incumbent CEO's talent, but keep their manager to avoid a switching cost. The decision to replace a manager...
Persistent link: https://www.econbiz.de/10013072798
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Market Forces and CEO Pay : Shocks to CEO Demand Induced by IPO Waves
Nickerson, Jordan - 2017
I develop a simple competitive equilibrium model and derive the prediction that CEO pay-size elasticity increases when more firms compete for an inelastic supply of managers. Using industry-level IPO waves as a proxy for increased competition for CEOs, I find that pay-size elasticity increases...
Persistent link: https://www.econbiz.de/10012973768
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Employment Cyclicality and Firm Quality
Kahn, Lisa - 2014
Who fares worse in an economic downturn, low- or high-paying firms? Different answers to this question imply very different consequences for the costs of recessions. Using U.S. employer-employee data, we find that employment growth at low-paying firms is less cyclically sensitive. High-paying...
Persistent link: https://www.econbiz.de/10013043227
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Do Frictions Matter in the Market for Chief Executives?
Chollete, Lorán; Merkurieva, Irina - 2021
The chief executive officers (CEOs) of public companies receive generous compensation packages that grow substantially … predicted by frictionless assignment models. To understand the factors behind compensation growth and account for potential job … surplus. Headhunting explains approximately 25% of the steady state growth of executive compensation. In contrast with static …
Persistent link: https://www.econbiz.de/10013211605