The Peter Principle states that, after a promotion, the observed output of promotedemployees tends to fall. Lazear (2004) models this principle as resulting from a regression tothe mean of the transitory component of ability...

The population of most developed societies is ‘graying’. As life expectancy increases and thelarge baby-boom generation approaches retirement age, this has critical consequences formaintaining a high standard of living and the sustainability of pension systems. In the light ofthese labor-force...

This paper introduces a novel approach for dealing with the curse of dimensionality in thecase of large linear dynamic systems. Restrictions on the coefficients of an unrestricted VARare proposed that are binding only in a limit as the number of endogenous variables tends toinfinity...

This paper explores theoretically and empirically potentially important yet often-neglectedlinkage between task coordination within the organization and the structure of organizationand bundling of HRMPs (Human Resource Management Practices). In so doing, we alsoprovide fresh insights on the...

This paper considers the statistical analysis of large panel data sets where even afterconditioning on common observed effects the cross section units might remain dependentlydistributed. This could arise when the cross section units are subject to unobserved commoneffects and/or if there are...

Theory predicts that mandated employment protections may reduce productivity by distortingproduction choices. Firms facing (non-Coasean) worker dismissal costs will curtail hiringbelow efficient levels and retain unproductive workers, both of which should affectproductivity. These theoretical...

Based on a German representative sample of employees we explore the relevance anddevelopment of further training in private sector firms. We focus on formal training andexplore possible individual and job-based determinants of its incidence. We also showchanges over time during a 20 year...

Standard search models are unreliable for structural inference of the underlying sources ofwage inequality because they are inconsistent with observed residual wage dispersion. Weaddress this issue by modeling skill development and duration dependence in unemploymentbenefits in a random on the...

This paper analyzes data from a novel field experiment designed to test the impact of twodifferent insurance products and a secret saving device on solidarity in risk-sharing groupsamong rural villagers in the Philippines. Risk is simulated by a lottery. Risk-sharing ispossible in solidarity...

We provide an overview of the growing literature that uses micro-level data from multiplecountries to investigate health outcomes, and their link to socioeconomic factors, at olderages. Since the data are at a comparatively young stage, much of the analysis is at an earlystage and limited to a...