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Skill and Fees in Active Management
Stambaugh, Robert F. - 2019
Greater skill of active investment managers can mean less fee revenue in a general equilibrium. Although more …-skilled managers earn more revenue than less-skilled managers, greater skill for active managers overall can imply less revenue for … their industry. Greater skill allows managers to identify mispriced securities more accurately and thereby make better …
Persistent link: https://www.econbiz.de/10012479976
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Learning about CEO Ability and Stock Return Volatility
Pan, Yihui - 2013
When there is uncertainty about a CEO's quality, news about the firm causes rational investors to update their expectation of the firm's profitability for two reasons: Updates occur because of the direct effect of the news, and also because the news can cause an updated assessment of the CEO's...
Persistent link: https://www.econbiz.de/10012459779
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Foreign-Affiliate Activity and U.S. Skill Upgrading
Blonigen, Bruce A. - 1999
There has been little analysis of the impact of inward foreign direct investment (FDI) on U.S. wage inequality, even though the presence of foreign-owned affiliates in the United States has arguably grown more rapidly in significance for the U.S. economy than trade flows. Using data across U.S....
Persistent link: https://www.econbiz.de/10012471760
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Skills, Degrees and Labor Market Inequality
Blair, Peter Q.; Debroy, Papia; Heck, Justin - National Bureau of Economic Research - 2021
Over the past four decades, income inequality grew significantly between workers with bachelor's degrees and those with high school diplomas (often called "unskilled"). Rather than being unskilled, we argue that these workers are STARs because they are skilled through alternative routes--namely...
Persistent link: https://www.econbiz.de/10012599281
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Trading Up and the Skill Premium
Jaimovich, Nir - 2019
We study the impact on the skill premium of increases in the quality of goods consumed by households ("trading up"). Our empirical work shows that high- quality goods are more intensive in skilled labor than low-quality goods and that household spending on high-quality goods rises with income....
Persistent link: https://www.econbiz.de/10012479881
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Techies, Trade, and Skill-Biased Productivity
Harrigan, James - 2018
We study the impact of firm level choices of ICT, R&D, exporting and importing on the evolution of productivity and its bias towards skilled occupations. We use a novel measure of the propensity of a firm to engage in technology investment and adoption: its employment of workers with STEM...
Persistent link: https://www.econbiz.de/10012480946
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Business Cycle Fluctuations and the Life Cycle : How Important is On-The-Job Skill Accumulation?
Hansen, Gary D. - 2007
We study the effects of on-the-job skill accumulation on average hours worked by age and the volatility of hours over the life cycle in a calibrated general equilibrium model. Two forms of skill accumulation are considered: learning by doing and on-the-job training. In our economy with learning...
Persistent link: https://www.econbiz.de/10012465043
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Learning on the Quick and Cheap : Gains from Trade Through Imported Expertise
Markusen, James R. - 2004
Gains from productivity and knowledge transmission arising from the presence of foreign firms has received a good deal of empirical attention, but micro-foundations for this mechanism are weak . Here we focus on production by foreign experts who may train domestic unskilled workers who work with...
Persistent link: https://www.econbiz.de/10012468090
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What Explains Skill Upgrading in Less Developed Countries?
Pavcnik, Nina - 2000
Although many developing countries have experienced growing income inequality and an increase in the relative demand for skilled workers during the 1980s, the sources of this trend remain a puzzle. This paper examines whether investment and adoption of skill-biased technology have contributed to...
Persistent link: https://www.econbiz.de/10012470897
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Digitalization in the German labor market : analyzing demand for digital skills in job vacancies
Kane, Layla O; Narasimhan, Rohit; Burning, Julia Nania,; … - Bertelsmann Stiftung - 2020
Persistent link: https://www.econbiz.de/10012521693