September 15, 2008
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156
result(s)
The Effect of the Sarbanes-Oxley Act on CEO Pay for Luck
Staff Working Paper 2008-20
Teodora Paligorova
According to the rent-extraction hypothesis, weak corporate governance allows entrenched CEOs to capture the pay-setting process and benefit from events outside of their control – get paid for luck.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Labour markets
JEL Code(s):
G,
G3,
G38,
J,
J3,
J33,
M,
M5,
M52
Driving Forces of the Canadian Economy: An Accounting Exercise
Staff Working Paper 2008-14
Simona Cociuba,
Alexander Ueberfeldt
This paper analyses the Canadian economy for the post 1960 period. It uses an accounting procedure developed in Chari, Kehoe, and McGrattan (2006). The procedure identifies accounting factors that help align the predictions of the neoclassical growth model with macroeconomic variables observed in the data.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Labour markets,
Potential output,
Productivity
JEL Code(s):
E,
E2,
E24,
E6,
E65,
O,
O4,
O41,
O5,
O51
June 17, 2007
Trend Labour Supply in Canada: Implications of Demographic Shifts and the Increasing Labour Force Attachment of Women
While demographic change has been an ongoing process in Canada, labour market implications of an aging population will become more acute in coming years. This article discusses the anticipated slowing in the growth of trend labour input over the coming decades with the aging of the baby boomers, declining fertility rates, and the stabilization of the labour force attachment of women. As the pool of labour shrinks, employers and governments will be looking for ways to address barriers to continued labour force participation and firms will have a greater incentive to find ways of improving labour productivity.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Economic models,
Labour markets,
Potential output
Exporting and FDI with Endogenous Productivity
Staff Working Paper 2007-14
Oana Secrieru,
Marianne Vigneault
This paper provides an analysis of how a firm’s decision to serve a foreign market by exporting or by engaging in foreign direct investment (FDI) affects firm productivity, when productivity is endogeneous as a function of training. The main result of our paper is that, with endogeneous productivity, exporting results in lower productivity than does FDI, but exporting may result in higher or lower employment and output than does FDI.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
International topics,
Labour markets,
Productivity
JEL Code(s):
F,
F2,
F22,
F23
Schooling, Inequality and Government Policy
Staff Working Paper 2007-12
Oleksiy Kryvtsov,
Alexander Ueberfeldt
This paper asks: What is the effect of government policy on output and inequality in an environment with education and labor-supply decisions? The answer is given in a general equilibrium model, consistent with the post 1960s facts on male wage inequality and labor supply in the U.S. In the model, education and labor-supply decisions depend on progressive income taxation, the education system, the social security system, and technology-driven wage differentials.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Labour markets,
Potential output,
Productivity
JEL Code(s):
H,
H5,
H52,
J,
J3,
J31,
J38
Education and Self-Employment: Changes in Earnings and Wealth Inequality
Staff Working Paper 2006-40
Yaz Terajima
The author quantitatively studies the interaction between education and occupation choices and its implication for the relationship between the changes in earnings inequality and the changes in wealth inequality in the United States over the 1983–2001 period.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Labour markets
JEL Code(s):
D,
D3,
D31,
I,
I2,
I21,
J,
J2,
J23
Working Time over the 20th Century
Staff Working Paper 2006-18
Alexander Ueberfeldt
From 1870 to 2000, the workweek length of employed persons decreased by 41 per cent in industrialized countries.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Labour markets,
Productivity
JEL Code(s):
E,
E1,
E13,
E2,
E24,
O,
O1,
O11
Intertemporal Substitution in Macroeconomics: Evidence from a Two-Dimensional Labour Supply Model with Money
Staff Working Paper 2005-30
Ali Dib,
Louis Phaneuf
The hypothesis of intertemporal substitution in labour supply has a history of empirical failure when confronted with aggregate time-series data.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Econometric and statistical methods,
Labour markets
JEL Code(s):
C,
C5,
C52,
E,
E2,
E24,
E3,
E32,
J,
J2,
J22
A Search Model of Venture Capital, Entrepreneurship, and Unemployment
Staff Working Paper 2005-24
Robin Boadway,
Oana Secrieru,
Marianne Vigneault
The authors develop a search model of venture capital in which the number of successful matches of entrepreneurs and venture capitalists (VCs) at any moment in time is a function of the number of entrepreneurs searching for funds, the number of VCs searching for entrepreneurs, and the number of vacancies posted by each VC.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial markets,
Fiscal policy,
Labour markets
JEL Code(s):
D,
D8,
D82,
G,
G1,
G18,
G2,
G24,
H,
H2,
H21,
J,
J6,
J64