Globalization and Executive Compensation

TL;DR: In this paper, the authors compare two growth regimes that differ in three aspects: labour relations, competition and consumption patterns, and find that regime one exhibits significantly lower inequality, higher output and productivity and lower unemployment compared to regime two, and that both institutional and structural features explain these differences.

TL;DR: In this article, the authors examined the effect of changes in tariffs on the demand for managers relative to non-managers and found that a decrease in input tariffs increases the relative demand for manager, primarily due to incentive-based pay structures and firms' vertical expansion.

TL;DR: The authors explored the extent to which firm-level temporal flexibility and corporate culture can explain the gender differences among top business executives using a large executive-employer matched data set spanning the last quarter century.

TL;DR: In this article, the authors use the Patents (Amendment) Act, 2002 in India as a quasi-natural experiment to identify the causal effect of higher incentives for innovation on a firm's compensation structure.

TL;DR: In this article, the role of imperfect information in a principal-agent relationship subject to moral hazard is considered, and a necessary and sufficient condition for imperfect information to improve on contracts based on the payoff alone is derived.

TL;DR: In this paper, a dynamic industry model with heterogeneous firms is proposed to explain why international trade induces reallocations of resources among firms in an industry and contributes to a welfare gain.

TL;DR: This paper found that trade has a quantitatively large and robust, though only moderately statistically significant, positive effect on income and that countries' geographic characteristics have important effects on trade, and are plausibly uncorrelated with other determinants of income.

TL;DR: The authors showed that the large shocks that capital owners experienced during the Great Depression and World War II have had a permanent effect on top capital incomes and argued that steep progressive income and estate taxation may have prevented large fortunes from fully recovering from these shocks.