Macroeconomics is evolving from the study of aggregate dynamics to the study of the
dynamics of the entire equilibrium distribution of allocations across individual economic …

We show that firms with higher levels of organizational capital (OC) exhibit higher levels of
tax avoidance and that shareholders view tax avoidance of high OC firms as value …

To be efficient, flexible labor markets require geographically mobile workers. Otherwise firms
can take advantage of workers' immobility and extract rents at their expense. In cultures with …

Using a sample of completed US acquisition deals over the period 1984–2014, we find that
acquirer organization capital as measured by capitalized selling, general, and administrative …

This paper develops a model of job creation and job destruction in a growing economy with
embodied technical progress, which I use to analyze the political support for employment …

We develop a positive theory of the adoption of child labor laws. Workers who compete with
children in the labor market support a child labor ban, unless their own working children …

Human capital investments are not independent of the aggregate state of labor markets:
frictions and slackness of the labor market raise the returns to specific human capital …

Firing costs have two separate dimensions: a transfer from the firm to the laid‐off worker and
a tax paid outside the firm‐worker pair. To avoid the 'bonding critique'most of the existing …

We conjecture that a firm's organization capital (OC) has a substitution effect on its executive
pay-for-performance sensitivity (PPS) and empirically document a robust and significant …

In the North of Europe, club membership is higher than in the South, but the frequency of
contacts with friends, relatives and neighbors is lower. We link this fact to another one: the …