James R. Thompson - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T10:34:14+00:00Capital Structure, Pay Structure and Job Termination
https://www.bankofcanada.ca/2016/03/staff-working-paper-2016-12/
We develop a model to analyze the link between financial leverage, worker pay structure and the risk of job termination. Contrary to the conventional view, we show that even in the absence of any agency problem among workers, variable pay can be optimal despite workers being risk averse and firms risk neutral.2016-03-22T11:27:10+00:00enCapital Structure, Pay Structure and Job Termination2016-03-22Financial institutionsLabour marketsStaff Working Paper 2016-12https://www.bankofcanada.ca/wp-content/uploads/2016/03/swp2016-12.pdfCapital Structure, Pay Structure and Job TerminationJason AllenJames R. ThompsonMarch 2016GG2G24JJ3J33