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This paper proposes a theory of liquidity dynamics. Illiquidity results from asymmetric information. Observing the historical track record teaches agents how to interpret public information and helps overcome information asymmetry. There can be an illiquidity trap: too much asymmetric...
Persistent link: https://www.econbiz.de/10013023683
While a burgeoning literature has extolled the conceptual virtues of directly measuring the underlying job tasks that define work activities, in practice task-based approaches have been hampered by well-known data limitations. We study wage determination using data collected specifically to...
Persistent link: https://www.econbiz.de/10012941976
We study on-the-job learning among classroom teachers, especially learning skills from coworkers. Using data from a new field experiment, we document meaningful improvements in teacher job performance when high- and low-performing teachers working at the same school are paired and asked to work...
Persistent link: https://www.econbiz.de/10012998947