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We suggest a parsimonious dynamic agency model in which workers have status concerns. A firm is a promotion hierarchy in which a worker’s status depends on past performance. We investigate the optimality of two types of promotion hierarchies: (i) internal labor markets, in which agents have a...
Persistent link: https://www.econbiz.de/10011083868
which log-wages are explained by two endogenous variables: the student's degree and the student's time to degree, not simply … by years of education. Log-wages are regressed on a measure of education, which is a position on a scale of certificates … parameters. We find a robust, significant and negative impact of the delay variable on wages, averaged over the first five years …
Persistent link: https://www.econbiz.de/10005498114
and trends in wellbeing. If the rise in wages that followed the Black Death enticed female servants to delay marriage, it …
Persistent link: https://www.econbiz.de/10011083583
Following monetary union with the west in June 1990, the employment rate for east German 18-54 year olds fell from 89% to 73% in six years, and the decline for women was considerably larger. This employment fall is possibly the worst of any European transition economy, yet one might have...
Persistent link: https://www.econbiz.de/10005656280
In a corporatist country like the Netherlands, wages should not be distinguished by union membership status, but by …
Persistent link: https://www.econbiz.de/10005666666
Following monetary union with west Germany in June 1990 the median real monthly wage of prime age east German workers rose by 83% in six years. I use the German Socio-Economic Panel data to investigate the determinants of this wage growth and some of its implications. For the 1990-1991 period I...
Persistent link: https://www.econbiz.de/10005791595
The paper investigates the relationship between offshoring, wages, and the ease with which individuals' tasks can be … heterogeneous within skill groups. We test this hypothesis by combining micro-level information on wages and demographic and …
Persistent link: https://www.econbiz.de/10008468618
insurance (UI) on reemployment wages. This paper estimates a positive UI wage effect exploiting an age-based regression … balance between two offsetting forces: UI causes agents to seek higher-wage jobs, but also reduces wages by lengthening … both in our sample and across studies, reconciling disparate wage-effect estimates. Empirically, UI raises wages by …
Persistent link: https://www.econbiz.de/10011272710
Employment contracts give a principal the authority to decide flexibly which task his agent should execute. However, there is a tradeoff, first pointed out by Simon (1951), between flexibility and employer moral hazard. An employment contract allows the principal to adjust the task quickly to...
Persistent link: https://www.econbiz.de/10011084462
wages at the top of the distribution, and a negative one at the bottom. Moreover, performance in firms with female …
Persistent link: https://www.econbiz.de/10011084603