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Blumkin, Tomer (contributor); Tsadḳah, Efrayim (contributor) - 2005

We illustrate a novel informational feature of education, which the government may utilize. Discretionary decisions of individuals to acquire education may serve as an additional signal (to earned labor income) on the underlying unobserved innate earning ability, thereby mitigating the...

Persistent link: https://www.econbiz.de/10002756339

Beyond the DSGE straitjacket

Pesaran, M. Hashem; Smith, Ron - 2011

Academic macroeconomics and the research department of central banks have come to be dominated by Dynamic, Stochastic, General Equilibrium (DSGE) models based on microfoundations of optimising representative agents with rational expectations. We argue that the dominance of this particular sort...

Persistent link: https://www.econbiz.de/10009127720

The signaling role of charitable contributions by business : a tax policy perspective

Blumḳin, Tomer; Margaliyot, Yoram; Tsadḳah, Efrayim; … - 2016

Empirical evidence suggests that charitable contributions to public goods may be driven not only by the familiar warm-glow of giving motive but also as a means for businesses to signal high product quality. Building on this finding, we present an analytical framework that characterizes the...

Persistent link: https://www.econbiz.de/10011541311

Charitable contributions by businesses : a tax policy perspective

Blumḳin, Tomer; Margaliyot, Yoram; Tsadḳah, Efrayim; … - 2019

Empirical evidence suggests that charitable contributions to public goods by businesses may be driven not only by the familiar warm-glow of giving motive but also as a means for businesses to signal high product quality. Building on this finding, we present an analytical framework that...

Persistent link: https://www.econbiz.de/10012103589

Matching for risk-taking : overconfident bankers and government-protected banks

Haufler, Andreas; Kassner, Bernhard - 2024

that have different degrees of overconfidence. The channel through which the matching occurs is the share of bonus payments … to an assortative matching between overconfident managers and banks with a larger bailout probability. We then test the …

Persistent link: https://www.econbiz.de/10015065269

An Incentive Theory of Matching

Brown, Alessio J.G. - 2009

This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are … quit decisions. This approach obviates the need for a matching function. On this theoretical basis, we argue that the … matching function is vulnerable to the Lucas critique. Our calibrated model for the U.S. economy can account for important …

Persistent link: https://www.econbiz.de/10013160145

Learning, structural instability and present value calculations

Pesaran, M. Hashem (contributor); … - 2006

Present value calculations require predictions of cash flows both at near and distant future points in time. Such predictions are generally surrounded by considerable uncertainty and may critically depend on assumptions about parameter values as well as the form and stability of the data...

Persistent link: https://www.econbiz.de/10003300967

Exponent of cross-sectional dependence : estimation and inference

Bailey, Natalia; Kapetanios, George; Pesaran, M. Hashem - 2012

An important issue in the analysis of cross-sectional dependence which has received renewed interest in the past few years is the need for a better understanding of the extent and nature of such cross dependencies. In this paper we focus on measures of cross-sectional dependence and how such...

Persistent link: https://www.econbiz.de/10009488893

A theory of wage adjustment under loss aversion

Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014

We present a new theory of wage adjustment, based on worker loss aversion. In line with prospect theory, the workers' perceived utility losses from wage decreases are weighted more heavily than the perceived utility gains from wage increases of equal magnitude. Wage changes are evaluated...

Persistent link: https://www.econbiz.de/10010465159

Unemployment Accounts and Employment Incentives

Brown, Alessio J.G; Orszag, J. Michael; Snower, Dennis J. - 2008

We explore the far-reaching implications of replacing current unemployment benefit (UB) systems by an unemployment accounts (UA) system. Under the UA system, employed people are required to make ongoing contributions to their UAs and the balances in these accounts are available to them during...

Persistent link: https://www.econbiz.de/10014058461

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