Over the subsequent 20 years, India's economy has seen growth in many areas since 1990s. Information technology is one of industries that grown significantly recently. Bharat's transformation from a sluggish to top exporters information services been largely attributed sector. Since there was such huge need for skilled workers labor markets as result this boom, engineering consistently ranked a...

There is widespread dissatisfaction amongst employers with defined benefit pension schemes, and many are switching to defined contribution schemes. Career average is a form of defined benefit scheme that has a number of important advantages over final salary schemes. The comparison of career average and final salary schemes is a neglected area, and this paper offers one of the first in-depth an...

Before July 2009, salaries of the Members of the European Parliament (MEPs) were paid by their home country, and there were substantial salary differences between MEPs representing different countries. Starting in July 2009, salaries are pegged to 38.5% of a European Court judge’s salary, paid by the European Union. This created an exogenous change in salaries, the magnitude and direction of wh...

In this paper we consider the optimal management of an aggregated dynamic pension fund. There are n classes of workers whose salaries are stochastic.A portion of the salary is contributed to the funding process and the manager invests in a portfolio withm risky assets and a risk-free security. The main objective is to minimize the cost of contributions in a bounded horizon T and to maximize the...

Most graduating medical students in the United States obtain hospital residencies through the National Resident Matching Program ("NRMP"; http://www.nrmp.org/). The NRMP, or "Match" as it is usually called, is a centralized procedure that begins each year with hospitals defining residency positions, including the associated salaries. Both students and hospitals then submit rankings of potential...