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We begin with two uncontroversial hypotheses - firm productivity is expensive to measure and employment entails relationship-specific investments. These assumptions imply that firms would optimally choose fixed-wage contracts, and complement these with bonus pay when measuring employee...
Persistent link: https://www.econbiz.de/10010815656
An increasing fraction of jobs in the U.S. labor market explicitly pay workers for their performance using bonus pay, commissions, or piece-rate contracts. Using data from the Panel Study of Income Dynamics, we show that compensation in performance-pay jobs is more closely tied to both observed...
Persistent link: https://www.econbiz.de/10005737804
We document that an increasing fraction of jobs in the U.S. labor market explicitly pay workers for their performance using bonuses, commissions, or piece-rates. We find that compensation in performance-pay jobs is more closely tied to both observed (by the econometrician) and unobserved...
Persistent link: https://www.econbiz.de/10005720011
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We develop a model in which a worker's skills determine the worker's current wage and sector. The market and the worker are initially uncertain about some of the worker's skills. Endogenous wage changes and sector mobility occur as labor market participants learn about these unobserved skills....
Persistent link: https://www.econbiz.de/10005601734
We develop a model in which a worker's skills determine the worker's current wage and sector. Both the market and the worker are initially uncertain about some of the worker's skills. Endogenous wage changes and sector mobility occur as labor-market participants learn about these unobserved...
Persistent link: https://www.econbiz.de/10005710431
Persistent link: https://www.econbiz.de/10005388934
This paper presents results from a 1971 natural experiment carried out by the Canadian government on the unemployment insurance system. At that time, they dramatically increased the generosity of the system. We find that the propensity to collect UI increases with a first time exposure to the...
Persistent link: https://www.econbiz.de/10005778253
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