Using hand-collected data on CEO appointments during shareholder activism campaigns, this study examines whether shareholder involvement in CEO recruiting affects frictions in CEO hiring decisions. The results indicate that appointments of CEOs who are recruited with shareholder activist...

This paper develops a search model with heterogeneous workers, firms, and on-the-job search. Employed low-skilled workers are allowed to seek better paid jobs at high productivity firms. Low productivity firms make take-it-or-leave-it wage offers, whereas high productivity firms use Nash...

EU Eastern Enlargement elicited a rise in (temporary) labour market oriented immi-gration to Germany starting in May 2011. Taking into account that not all immigrantsstay permanently and that outmigration flows are selective, this paper classifies recent EUimmigrants into “new arrivals” and...

We study how licensing, certification and unionisation affect the wages of natives and migrants and their representation among licensed, certified, and unionized workers. We provide evidence of a dual role of labor market institutions, which both screen workers based on unobservable...