Showing 1 - 10 of 17
Labor market frictions are not the only possible factor responsible for high unemployment. Credit market imperfections, driven by microeconomic frictions and impacted upon by macroeconomic factors such as monetary policy, could also be to blame. This paper shows that labor and credit market...
Persistent link: https://www.econbiz.de/10011336864
There is a debate on whether executive pay reflects rent extraction due to "managerial power" or is the result of arms-length bargaining in a principal-agent framework. In this paper we offer a test of the managerial power hypothesis by empirically examining the CEO compensation of U.S. public...
Persistent link: https://www.econbiz.de/10003779098
We develop a two-sided multidimensional matching model of the market for CEOs that allows for both pecuniary and non-pecuniary (amenity) compensation. The model is estimated by maximum likelihood estimation using matched CEO-firm data from Denmark. We show that CEOs have preferences for building...
Persistent link: https://www.econbiz.de/10012653095
In this paper, we investigate the effect of real estate prices on productive investment. We build a simple theoretical framework of firms' investment with credit rationing and real estate collateral. We show that real estate prices affect firms' borrowing capacities through two channels. An...
Persistent link: https://www.econbiz.de/10011951732
period 1994-2006 in Japan and 7,828 firms over the period 1993-2008 in the Netherlands, we first apply two procedures to …
Persistent link: https://www.econbiz.de/10009719637
This paper studies how changes in extended unemployment insurance (UI) benefit affect the duration of unemployment. We investigate this question by exploiting not only strict age thresholds but also the pre-displacement tenure and the reason for separation from the previous job in the Japanese...
Persistent link: https://www.econbiz.de/10009788791
This paper estimates the extent of intergenerational income mobility in Japan among sons and daughters born between … intergenerational income elasticity (IGE) for both sons and daughters, in Japan lies around .35, which is an intermediate value, by …. -- intergenerational mobility ; elasticity ; correlation ; earnings differentials ; income ; inequality ; trends ; Japan ; assortative …
Persistent link: https://www.econbiz.de/10009675517
First moves towards a real understanding of offshoring date back to very recent times. In particular for Japan, the … percentage points for services and 0.48 to 0.64 for materials. -- offshoring ; Japan ; employment ; productivity …
Persistent link: https://www.econbiz.de/10009230680
power. Using a unique data set from Japan, this study identifies how close contract settlements came to satisfying organized … power and distinguish how it has fluctuated over time. These findings for Japan have important implications for empirical …
Persistent link: https://www.econbiz.de/10011405159
Using data for the 1990's, this paper examines the role of sheepskin effects in the returns to education for Japan. Our … the US. These results could be explained by the particular recruitment system of large firms in Japan, which makes the …
Persistent link: https://www.econbiz.de/10011413686