Search Results

Showing results 1 to 3 of approximately 3.

(refine search)

Working Paper
Risk Choices and Compensation Design

We analyze the impact of bad-tail risks on managerial pay functions, especially the decision to pay managers in stock or in options. In contrast to conventional wisdom, we find that options are often a superior vehicle for limiting managerial incentives to take bad-tail risks while providing incentives to exert effort. Arrangements similar to collar options are able to incent the desired project choice in wider range of circumstances than call options or stock. However, information requirements appear high. We briefly explore alternatives with features similar to maluses and clawbacks, which ...
International Finance Discussion Papers , Paper 1130

Journal Article
Dissecting Wage Dispersion

Wages are substantially dispersed across workers, jobs, and employers in the U.S. economy. Although some of that dispersion is due to demographic factors, the authors found that after controlling for those differences, both ?who you are? (the permanent component of wage dispersion) and ?where you work? (the match-specific component of wagedispersion) contribute to the range of wages paid.
Economic Review , Issue Q III , Pages 35-52

Staff Pick: Declining Labor Share and U.S. Industries

In recent decades, the share of payments to labor have been trending down in several countries. Here are trends among U.S. industries.
On the Economy


FILTER BY Content Type


Bharadwaj, Asha 1 items

Cannon, Sandra A. 1 items

Carey, Mark S. 1 items

Dvorkin, Maximiliano 1 items

Mustre-del-Rio, Jose 1 items

Sun, Bo 1 items

show more (1)

FILTER BY Jel Classification

D86 1 items

G20 1 items

G34 1 items

FILTER BY Keywords