TOPICS | READINGS |
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I. Moral hazard and agency | |
Moral hazard and agency | *Prendergast, C. "The Provision of Incentives in Firms." Journal of Economic Literature 37, no. 1 (March 1999): 7-63. *Acemoglu, D. "Incentives, Agency Theory, and Efficiency Wages." Part 2 of Lecture Notes for Graduate Labor Economics (mimeo). |
Static single agent models | Holmström, B. "Moral Hazard and Observability." Bell Journal of Economics 10, no. 1 (1979): 74-91. *Lazear, E. "Performance Pay and Productivity." American Economic Review 90, no. 5 (December 2000): 1346-1391. Shearer, B. "Piece Rates, Fixed Wages and Incentives: Evidence from a Field Experiment." Review of Economic Studies 71 (April 2004): 513-534. Asch, B. "Do Incentives Matter? The Case of Navy Recruiters." Industrial and Labor Relations Review 43, no. 3, Special Issue: Do Compensation Policies Matter? (1990): 89S-106S. Oyer, P. "Fiscal Year Ends and Nonlinear Incentive Contracts: The Effect on Business Seasonality." Quarterly Journal of Economics 113, no. 1 (February 1998): 149-185. Levitt, S., and B. Jacob. "Rotten Apples: An Investigation of the Prevalence and Predictors of Teacher Cheating." Quarterly Journal of Economics 118, no. 3 (August 2003): 843-877. Ackerberg, D., and M. Botticini. "Endogenous Matching and the Empirical Determinants of Contract Form." Journal of Political Economy 110, no. 3 (June 2002): 564-591. Jensen, M., and K. Murphy. "Performance Pay and Top Management Incentives." Journal of Political Economy 98, no. 2 (April 1990): 225-264. Aggarwal, R., and A. Samwick. "The Other Side of the Trade-Off: The Impact of Risk on Executive Compensation." Journal of Political Economy 107, no. 1 (February 1999): 65-105. *Prendergast, C. "The Tenuous Trade-off Between Risk and Incentives." Journal of Political Economy 110, no. 5 (October 2002): 1071-1102. |
Intrinsic motivation | Frey, B., and F. Oberholzer-Gee. "The Cost of Price Incentives: An Empirical Analysis of Motivation Crowding-Out." American Economic Review 87, no. 4 (September 1997): 746-755. Gneezy, U., and A. Rustichini. "Pay Enough or Don't Pay at All." Quarterly Journal of Economics 115, no. 3 (August 2000): 791-810. Nagin, D., J. Rebitzer, S. Sanders, and L. Taylor. "Monitoring, Motivation, and Management: The Determinants of Opportunistic Behavior in a Field Experiment." American Economic Review 92, no. 4 (September 2002): 850-873. Fehr, E., and S. Gächter. "Do Incentive Contracts Crowd Out Voluntary Cooperation?" Center for Economic Policy Research Discussion Paper No. 3017, October 2001. Falk, A., and M. Kosfeld. "The Hidden Costs of Control." American Economic Review 96, no. 5 (December 2006): 1611-1630. Besley, T., and M. Ghatak. "Competition and Incentives with Motivated Agents." American Economic Review 95, no. 3 (June 2005): 616-636. |
Multiple tasks | Kerr, S. "On the Folly of Rewarding A, While Hoping for B." Academy of Management Journal 18, no. 4 (December 1975): 769-783. Holmström, B., and P. Milgrom. "Multi-Task Principal Agent Analysis: Incentive Contracts, Asset Ownership, and Job Design." Journal of Law Economics and Organization 7, Special Issue: Papers from the Conference on the New Science of Organization (1991): 24-52. Milgrom, P., and J. Roberts. "Complementarities and Fit. Strategy, Structure, and Organizational Change in Manufacturing." Journal of Accounting and Economics 19 (March-May 1995): 179-208, especially section 5. Brickley, J., and J. Zimmerman. "Changing Incentives in a Multitask Environment: Evidence from a Top-tier Business School." Journal of Corporate Finance 7 (December 2001): 367-396. Jacob, B. "Accountability, Incentives and Behavior: Evidence from School Reform in Chicago." Journal of Public Economics 89 (2005): 761-796. Cockburn, I., R. Henderson, and S. Stern. "Balancing Incentives in Pharmaceutical Research." mimeograph, MIT, 2004. |
Multiple agents | Holmström, B. "Moral Hazard in Teams." Bell Journal of Economics 13, no. 2 (1982): 324-340. Lazear, E., and S. Rosen. "Rank-Order Tournaments as Optimum Labor Contracts." Journal of Political Economy 89, no. 5 (October 1981): 841-864. Gaynor, M., and M. Pauly. "Compensation and Productive Efficiency in Partnerships: Evidence from Medical Groups Practice." Journal of Political Economy 98, no. 3 (June 1990): 544-573. Gaynor, M., J. Rebitzer, and L. Taylor. "Physician Incentives in HMOs." Journal of Political Economy 112, no. 4 (August 2004): 915-931. Ehrenberg, R., and M. Bognanno. "The Incentive Effects of Tournaments Revisited: Evidence from the European PGA Tour." Industrial and Labor Relations Review 43, Special Issue (February 1990): 74S-88S. Eriksson, T. "Executive Compensation and Tournament Theory: Empirical Tests on Danish Data." Journal of Labor Economics 17, no. 2 (April 1999): 262-280. Gibbons, R., and K. Murphy. "Relative Performance Evaluation for CEOs." Industrial and Labor Relations Review 43, Special Issue (February 1990): 30S-51S. Duggan, M., and S. Levitt. "Winning Isn't Everything: Corruption in Sumo Wrestling." American Economic Review 92, no. 5 (December 2002): 1594-1605. Kandel, E., and E. Lazear. "Peer Pressure and Partnerships." Journal of Political Economy 100, no. 4 (1992): 801-817. Knez, M., and D. Simister. "Firm-Wide Incentives and Mutual Monitoring at Continental Airlines." Journal of Labor Economics 19, no. 4 (2001): 743-772. Hamilton, B., J. Nickerson, and H. Owan. "Team Incentives and Worker Heterogeneity: An Empirical Analysis of the Impact of Teams on Productivity and Participation." Journal of Political Economy 111, no. 3 (June 2003): 465-497. Falk, A., and A. Ichino. "Clean Evidence on Peer Effects." Journal of Labor Economics 24, no. 1 (January 2006): 39-57. Mas, A., and E. Moretti. "Peers at Work." National Bureau of Economic Research Working Paper No. 12508, September 2006, pp. 1-51. Bandiera, O., I. Barankay, and I. Rasul. "Social Preferences and the Response to Incentives: Evidence from Personnel Data." Quarterly Journal of Economics 120, no. 3 (August 2005): 917-962. |
Dynamic agency | Lazear, E. "Why Is There Mandatory Retirement?" Journal of Political Economy 87, no. 6 (December 1979): 1261-84. Holmström, B. "Managerial Incentive Schemes - A Dynamic Perspective." In Vetenskap och företagsledning: studier i ekonomi och ledarskap tillägnade Lars Wahlbeck (Essays in Economics and Management in the Honor of Lars Wahlbeck). Helsingfors, Sweden: Svenska handelshögskolan, 1982. ISBN: 9789515551580. ———. "Managerial Incentive Problems: A Dynamic Perspective." The Review of Economic Studies 66, no. 1, Special Issue: Contracts (January 1999): 169-182. Gibbons, R., and K. Murphy. "Optimal Incentive Contracts in the Presence of Career Concerns: Theory and Evidence." Journal of Political Economy 100, no. 3 (1992): 468-505. Chevalier, J., and G. Ellison. "Career Concerns of Mutual Fund Managers." Quarterly Journal of Economics 114, no. 2 (May 1999): 389-432. |
Efficiency wages | *Shapiro, C., and J. Stiglitz. "Equilibrium Unemployment as a Worker Discipline Device." American Economic Review 74, no. 3 (1984): 433-444. Bulow, J., and L. Summers. "A Theory of Dual Labor Markets with Applications to Industrial Policy, Discrimination, and Keynesian Unemployment." Journal of Labor Economics 4, no. 3 (1986): 376-415. Krueger, A. "Ownership, Agency, and Wages: An Examination of Franchising in the Fast Food Industry." Quarterly Journal of Economics 106, no. 1 (1991): 75-101. Holzer, H., L. Katz, and A. Krueger. "Job Queues and Wages." Quarterly Journal of Economics 106, no. 3 (August 1991): 739-768. Cappelli, P., and K. Chauvin. "An Interplant Test of the Efficiency Wage Hypothesis." Quarterly Journal of Economics 106, no. 3 (1991): 769-787. *Bewley, T. Why Wages Don't Fall During a Recession. Cambridge, MA: Harvard University Press, 1999, sections 7.1 and 11.2, pp. 87-92, 173-180. ISBN: 9780674952416. Fehr, E., G. Kirchsteiger, and A. Riedl. "Does Fairness Prevent Market Clearing? An Experimental Investigation." Quarterly Journal of Economics 108, no. 2 (1993): 437-460. Gneezy, U., and J. List. "Putting Behavioral Economics to Work: Field Evidence on Gift Exchange." Econometrica 74, no. 5 (September 2006): 1365-1384. |
II. Employer wage differentials | |
Industry and firm size differentials | *Krueger, A., and L. Summers. "Efficiency Wages and the Inter-industry Wage Structure." Econometrica 56, no. 2 (March 1988): 259-293. Katz, L., and L. Summers. "Industry Rents: Evidence and Implications." Brookings Papers on Economic Activity, Special Issue (1989): 209-275. Brown, C., and J. Medoff. "The Employer Size Wage Effect." Journal of Political Economy 97, no. 5 (October 1989): 1027-1059. Murphy, K., and R. Topel. "Efficiency Wages Reconsidered: Theory and Evidence." In Advances in the Theory and Measurement of Unemployment. Edited by Y. Weiss and G. Fishelson. New York, NY: St. Martin's Press, 1990. ISBN: 9780312027971. Neal, D. "Industry-Specific Human Capital: Evidence from Displaced Workers." Journal of Labor Economics 13, no. 4 (October 1995): 653-677. *Gibbons, R., and L. Katz. "Does Unmeasured Ability Explain Inter-Industry Wage Differentials?" Review of Economic Studies 59, no. 3 (July 1992): 515-535. Gibbons, R., L. Katz, T. Lemieux, and D. Parent. "Comparative Advantage, Learning, and Sectoral Wage Determination." Journal of Labor Economics 23, no. 4 (2005): 681-723. Bertrand, M., and S. Mullainathan. "Enjoying the Quiet Life? Corporate Governance and Managerial Preferences." Journal of Political Economy 111, no. 5 (October 2003): 1043-1075. Abowd, J., F. Kramarz, and D. Margolis. "High Wage Workers and High Wage Firms." Econometrica 67, no. 2 (March 1999): 251-333. |
Compensating differentials | Rosen, S. "The Theory of Equalizing Differences." In Handbook of Labor Economics. Vol. 1. Edited by Orley Ashenfelter and P. R. G. Layard. New York, NY: Elsevier, 1986. ISBN: 9780444878564. *Brown, C. "Equalizing Differences in the Labor Market." Quarterly Journal of Economics 94, no. 1 (February 1980): 113-134. Abowd, J., and O. Ashenfelter. "Temporary Layoffs, Anticipated Unemployment and Compensating Wage Differentials." In Studies in Labor Markets. Edited by S. Rosen. Chicago, IL: University of Chicago Press, 1981, pp. 141-170. ISBN: 9780226726281. Murphy, K., and R. Topel. "Unemployment, Risk, and Earnings: Testing for Equalizing Differences in the Labor Market." In Unemployment and the Structure of Labor Markets. Edited by K. Lang and J. Leonard. New York, NY: Blackwell, 1987, pp. 103-140. ISBN: 9780631153788. Gruber, J. "The Incidence of Mandated Maternity Benefits." American Economic Review 84, no. 3 (June 1994): 622-641. Fishback, P., and S. Kantor. "Did Workers Pay for the Passage of Workers' Compensation Laws?" Quarterly Journal of Economics 110, no. 3 (August 1995): 713-742. Stern, S. "Do Scientists Pay to be Scientists?" Management Science 50, no. 6 (June 2004): 835-853. Krueger, A. B., and L. H. Summers. "Reflections on the Inter-industry Wage Structure." In Unemployment and the Structure of Labor Markets. Edited by K. Lang and J. S. Leonard. New York, NY: B. Blackwell, 1987. ISBN: 9780631153788. |
III. Discrimination and differentials by race and gender | |
Discrimination and differentials by race and gender | Altonji, J., and R. Blank. "Race and Gender in the Labor Market." In Handbook of Labor Economics. Vol. 3C. Edited by O. Ashenfelter and D. Card. New York, NY: Elsevier, 1999, chapter 48, pp. 3143-3259. ISBN: 9780444501899. Becker, G. The Economics of Discrimination. 2nd ed. Chicago, IL: University of Chicago Press, 1971. ISBN: 9780226041155. Arrow, K. "The Theory of Discrimination." In Discrimination in Labor Markets. Edited by O. Ashenfelter and A. Rees. Princeton, NJ: Princeton University Press, 1973, pp. 3-33. ISBN: 9780691041704. Smith, J., and F. Welch. "Black Economic Progress after Myrdal." Journal of Economic Literature 27 (June 1989): 519-564. *Donohue III, J., and J. Heckman. "Continuous versus Episodic Change: The Impact of Civil Rights Policy on the Economic Status of Blacks." Journal of Economic Literature 29 (December 1991): 1603-1643. Chay, K. "The Impact of Federal Civil Rights Policy on Black Economic Progress: Evidence from the Equal Employment Opportunity Act of 1972." Industrial and Labor Relations Review 51, no. 4 (July 1998): 608-632. Juhn, C., K. Murphy, and B. Pierce. "Accounting for the Slowdown in Black-White Wage Convergence." In Workers and Their Wages: Changing Patterns in the United States. Edited by M. Kosters. Washington, DC: AEI Press, 1991, chapter 4, pp. 107-143. ISBN: 9780844737478. Card, D., and T. Lemieux. "Wage Dispersion, Returns to Skill and Black-White Wage Differentials." Journal of Econometrics 74 (October 1996): 319-361. Oaxaca, R. "Male-Female Wage Differentials in Urban Labor Markets." International Economic Review 14, no. 3 (October 1973): 693-709. Blinder, A. "Wage Discrimination: Reduced Form and Structural Estimates." Journal of Human Resources 8, no. 4 (1973): 436-455. Goldin, C. Understanding the Gender Gap: An Economic History of American Women. New York, NY: Oxford University Press, 1992, chapter 4, pp. 83-118. ISBN: 9780195050776. Wood, R., M. Corcoran, and P. Courant. "Pay Differentials Among the Highly Paid: The Male-Female Earnings Gap in Lawyer's Salaries." Journal of Labor Economics 11, no. 3 (1993): 417-441. Neal, D., and W. Johnson. "The Role of Premarket Factors in Black-White Wage Differences." Journal of Political Economy 104, no. 5 (1996): 869-895. Mincer, J., and S. Polacheck. "Family Investments in Human Capital: Earnings of Women." Journal of Political Economy 82, no. 2 (1974): S76-S110. Polachek, S., and S. Siebert. "Gender in the Labour Market." Chapter 6 in The Economics of Earnings. New York, NY: Cambridge University Press, 1992, pp. 137-173. ISBN: 9780521367288. Altonji, Joseph G., and C. Pierret. "Employer Learning and Statistical Discrimination." Quarterly Journal of Economics 116, no. 1 (February 2001): 313-350. Black, S., and P. Strahan. "The Division of Spoils: Rent-Sharing and Discrimination in a Regulated Industry." American Economic Review 91, no. 4 (September 2001): 814-831. List, J. "The Nature and Extent of Discrimination in the Marketplace: Evidence from the Field." Quarterly Journal of Economics 119, no. 1 (February 2004): 49-89. Fershtman, C., and U. Gneezy. "Discrimination in a Segmented Society." Quarterly Journal of Economics 116, no. 1 (February 2001): 351-377. Goldin, C., and C. Rouse. "Orchestrating Impartiality: The Impact of Blind Auditions on the Sex Composition of Orchestras." American Economic Review 90, no. 4 (September 2000): 715-41. Bertrand, M., and S. Mullainathan. "Are Emily and Brendan More Employable than Lakisha and Jamal? A Field Experiment on Labor Market Discrimination." American Economic Review 94, no. 4 (September 2004): 991-1014. Wolfers, J. "Diagnosing Discrimination: Stock Returns and CEO Gender." Journal of the European Economic Association 4, nos. 2-3 (April/May 2006): 531-541. *Babcock, L., and S. Laschever. Women Don't Ask: Negotiation and the Gender Divide. Princeton, NJ: Princeton University Press, 2003, introduction, pp. 1-16. ISBN: 9780691089409. Gneezy, U., M. Niederle, and A. Rustichini. "Performance in Competitive Environments: Gender Differences." Quarterly Journal of Economics 118, no. 3 (August 2003): 1049-1074. Niederle, N., and L. Vesterlund. "Do Women Shy Away from Competition? Do Men Compete too Much?" Forthcoming in Quarterly Journal of Economics (2007). Paserman, D. "Gender Differences in Performance in Competitive Environments: Field Evidence from Professional Tennis Players." mimeograph, Hebrew University, January 2007, pp. 1-42. (PDF)# |
IV. Changes in the wage structure and inequality | |
The facts | *Katz, L., and K. Murphy. "Changes in Relative Wages, 1963-1987: Supply and Demand Factors." Quarterly Journal of Economics 107, no. 1 (February 1992): 35-78. *Juhn, C., K. Murphy, and B. Pierce. "Wage Inequality and the Rise in Returns to Skill." Journal of Political Economy 101, no. 3 (1993): 410-442. Katz, L., and D. Autor. "Changes in the Wage Structure and Earnings Inequality." In Handbook of Labor Economics. Vol. 3A. Edited by O. Ashenfelter and D. Card. New York, NY: Elsevier, 1999, chapter 26, pp. 1463-1555. ISBN: 9780444501875. Goldin, C., and R. Margo. "The Great Compression: The Wage Structure in the United States at Mid-Century." Quarterly Journal of Economics 107, no. 1 (February 1992): 1-34. Goldin, C., and L. Katz. "The Returns to Skill in the United States across the Twentieth Century." National Bureau of Economic Research Working Paper No. 7126, May 1999, pp. 1-51. Piketty, T., and E. Saez. "Income Inequality in the United States, 1913 - 1998." Quarterly Journal of Economics 118, no. 1 (February 2003): 1-39. Frydman, C., and R. Saks. "Historical Trends in Executive Compensation, 1936 - 2003." mimeograph, MIT, 2007. *Autor, D., L. Katz, and M. Schettini Kearney. "Trends in U.S. Wage Inequality: Re-Assessing the Revisionists." National Bureau of Economic Research Working Paper No. 11627, September 2005, pp. 1-60. ———. "The Polarization of the U.S. Labor Market." American Economic Review Papers and Proceedings 96, no. 2 (May 2006): 189-194. Lemieux, T. "Increasing Residual Wage Inequality: Composition Effects, Noisy Data, or Rising Demand for Skill?" American Economic Review 96, no. 3 (June 2006): 461-498. Gottschalk, P., and R. Moffitt. "The Growth of Earnings Instability in the U.S. Labor Market." Brookings Papers on Economic Activity 2 (1994): 217-272. |
Explanations: Supply and demand for skills | *Katz, L., and K. Murphy. "Changes in Relative Wages, 1963-1987: Supply and Demand Factors." Quarterly Journal of Economics 107, no. 1 (February 1992): 35-78. *Autor, D., L. Katz, and M. Schettini Kearney. "Trends in U.S. Wage Inequality: Re-Assessing the Revisionists." National Bureau of Economic Research Working Paper No. 11627, September 2005, pp. 1-60. Card, D., and T. Lemieux. "Can Falling Supply Explain the Rising Return to College for Younger Men? A Cohort-Based Analysis." Quarterly Journal of Economics 116, no. 2 (May 2001): 705-746. |
Skill biased technical and organizational change | *Acemoglu, D. "Technical Change, Inequality and the Labor Market." Journal of Economic Literature 40 (March 2002): 7-72. ———. "Why do New Technologies Complement Skills: Directed Technical Change and Wage Inequality." Quarterly Journal of Economics 113, no. 4 (November 1998): 1055-1089. Autor, D., L. Katz, and A. Krueger. "Computing Inequality: Have Computers Changed the Labor Market." Quarterly Journal of Economics 113, no. 4 (November 1998): 1169-1213. Card, D., and J. DiNardo. "Skill Biased Technological Change and Rising Wage Inequality: Some Problems and Puzzles." Journal of Labor Economics 20, no. 4 (2002): 733-783. Autor, D., F. Levy, and R. Murnane. "The Skill Content of Recent Technological Change: An Empirical Exploration." Quarterly Journal of Economics 118, no. 4 (November 2003): 1279-1333. Bresnahan, T., E. Brynolfsson, and L. Hitt. "Information Technology, Workplace Organization and the Demand for Skilled Labor: Firm-level Evidence." Quarterly Journal of Economics 117, no. 1 (February 2002): 339-376. |
International trade and immigration | Acemoglu, D. "Patterns of Skill Premia." Review of Economic Studies 70, no. 2 (2003): 199-230. Berman, E., J. Bound, and S. Machin. "Implications of Skill-Biased Technological Change: International Evidence." Quarterly Journal of Economics 113, no. 4 (November 1998): 1245-1280. Feenstra, R., and G. Hanson. "The Impact of Outsourcing and High Technology Capital on Wages: Estimates for the United States 1979 - 1990." Quarterly Journal of Economics 114, no. 3 (August 1999): 907-940. ———. "Global Production Sharing and Rising Inequality: A Survey of Trade and Wages." National Bureau of Economic Research Working Paper No. 8372, July 2001, pp. 1-66. Krueger, A. "Labor Market Shifts and the Price Puzzle Revisited." National Bureau of Economic Research Working Paper No. 5924, February 1997, pp. 1-32. Borjas, G. "The Labor Demand Curve is Downward Sloping: Reexamining the Impact of Immigration on the Labor Market." Quarterly Journal of Economics 118, no. 4 (November 2003): 1335-1374. |
Labor market institutions and wage compression | DiNardo, J., N. Fortin, and T. Lemieux. "Labor Market Institutions and the Distribution of Wages, 1973-1992: A Semiparametric Approach." Econometrica 64, no. 5 (September 1996): 1001-1044. Lee, D. "Wage Inequality in the U.S. During the 1980's: Rising Dispersion or Falling Minimum Wage." Quarterly Journal of Economics 114, no. 3 (August 1999): 941-1024. *Autor, D., L. Katz, and M. Schettini Kearney. "Trends in U.S. Wage Inequality: Re-Assessing the Revisionists." National Bureau of Economic Research Working Paper No. 11627, September 2005, pp. 1-60. Card, D. "The Effect of Unions on the Distribution of Wages: Redistribution or Relabelling?" National Bureau of Economic Research Working Paper No. 4195, October 1992, pp. 1-61. Acemoglu, D., P. Aghion, and G. Violante. "Deunionization, Technical Change, and Inequality." Carnegie-Rochester Conference Series on Public Policy (February 2001): 1-37. |
International evidence | Organisation for Economic Co-operation and Development (OECD). "Earnings Inequality: Changes in the 1980s." Chapter 5 in OECD Employment Outlook 1993. Paris, France: OECD. pp. 157-184. Piketty, T., and E. Saez. "The Evolution of Top Incomes: A Historical and International Perspective." American Economic Review Papers and Proceedings 96, no. 2 (May 2006): 200-205. Blau, F., and L. Kahn. "International Differences in Male Wage Inequality: Institutions versus Market Forces." Journal of Political Economy 104, no. 4 (August 1996): 791-837. Leuven, E., H. Oosterbeek, and H. van Ophem. "Explaining International Differences in Male Skill Wage Differentials by Differences in Demand and Supply of Skill." Economic Journal 114 (April 2004): 466-486. Blau, F., and L. Kahn. "Do Cognitive Test Scores Explain Higher U.S. Wage Inequality?" Review of Economics and Statistics 87, no. 1 (February 2005): 184-193. Krugman, P. "Past and Prospective Causes of High Unemployment." In Reducing Unemployment: Current Issues and Policy Options, A Symposium, Jackson Hole, Wyoming, August 24-27, 1994. Kansas City, MO: Federal Reserve Bank of Kansas City, 1994, pp. 23-43. Nickell, S., and B. Bell. "The Collapse in Demand for the Unskilled and Unemployment across the OECD." Oxford Review of Economic Policy 11, no. 1 (1995): 40-62. Card, D., F. Kramarz, and T. Lemieux. "Changes in the Relative Structure of Wages and Employment: A Comparison of the United States, Canada, and France." Canadian Journal of Economics 32, no. 4 (August 1999): 843-877. Acemoglu, D. "Cross-country Inequality Trends." Economic Journal 113 (February 2003): F121-F149. Pischke, J.-S. "Labor Market Institutions, Wages, and Investment: Review and Implications." CESifo Economic Studies 51 (January 2005): 47-75. Beaudry, P., and D. Green. "Wages and Employment in the United States and Germany: What Explains the Differences?" American Economic Review 93, no. 3 (June 2003): 573-602. |