To what extent, if at all, did employee-owned (EO) firms maintain jobs for workers compared to non-EO firms in the spring 2020 Covid-19 shock to the US economy? Did EO firms shift jobs from workplaces to work-from-home locations in the pandemic more or less than other firms? This paper uses a...

This paper exploits the staggered implementation of state-level paid sick leave (PSL) mandates to assess their real effects on U.S. corporations. We find that employees’ better access to sick pay leads to higher firm productivity and profitability. First, we show that the positive effects on...

This paper discusses the design and analyzes the potential benefits and costs of executive pay package policy within the US 2009 Emergency Economic Stabilization Act (EESA), commonly known "Bailout". It shows that the ultimate effect of the EESA on executive compensation is generally difficult...

This article estimates a dynamic reduced-form model of intra-firm promotions using an employer-employee panel of over 300 of the largest corporations in the U.S. in the period from 1981 to 1988. The estimation conditions on unobserved individual heterogeneity and allows for both an endogenous...

Nearly half of U.S. employers test job applicants and workers for drugs. I use variation in the timing and nature of drug testing regulation to study discrimination against blacks related to perceived drug use. Black employment in the testing sector is suppressed in the absence of testing,...

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...