Introduction: finance as a working rich observatory -- The size of bonuses -- The distribution of bonuses -- Property rights in the firm -- The sense of ownership of profit -- Assets and power -- A hold-up case -- Towards a model of hold-up -- The labour market as asset transfer -- What do heads...

Wage Dispersion and Efficiency. It is often assumed that markets generate efficient allocations, but these are not necessarily fair. The widening of wage differentials that is currently observed is interpreted in this manner: Skill-biased technological progress increases demand for skilled work...

Increased wage inequality between skilled and unskilled workers is a stylized fact, which can be observed in many developed countries. Among the explanations advanced for this phenomenon is the increasing globalization, a skill-biased technical progress, restructuring of the firms, and last but...

Diese Studie beschäftigt sich mit drei Herausforderungen, mit denen die Lohnpolitik an der Schwelle des nächsten Jahrtausends konfrontiert wird: Ein technischer Fortschritt, der insbesondere gering qualifizierte Arbeit freisetzt, die zunehmende internationale Integration der Arbeits- und...