Is Capping Executive Bonuses Useful? /
This paper develops a theoretical framework to study the impact of bonus caps on banks' risk taking. In the model, labor market price adjustments can offset the direct effects of bonus caps. The calibrated model suggests that bonus caps are only effective when bank executives' mobility is...
| Hlavní autor: | |
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| Médium: | Časopis |
| Jazyk: | English |
| Vydáno: |
Washington, D.C. :
International Monetary Fund,
2016.
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| Edice: | IMF Working Papers; Working Paper ;
No. 2016/196 |
| On-line přístup: | Full text available on IMF |