Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/71752
Authors: 
MacLeod, William Bentley
Parent, Daniel
Year of Publication: 
2013
Series/Report no.: 
Discussion Paper Series, Forschungsinstitut zur Zukunft der Arbeit 7306
Abstract: 
In this paper we adapt the model of MacLeod (2007) to provide one way to formally implement some of Williamson's ideas regarding the effect of transactions costs upon employment relationship. We then explore the empirical implications of this model with a data set that measures job characteristics using the Dictionary of Occupational Titles (DOT), and merge this data set with the Panel Study on Income Dynamics (PSID). We find that viewing the data through the lens of transactions costs economics provide a useful way to organize the data on compensation in the US labor market.
Subjects: 
compensation
transactions costs
labor markets
JEL: 
J33
Document Type: 
Working Paper

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