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Demougin, Dominique; Fluet, Claude - Centre Interuniversitaire sur le Risque, les Politiques … - 2003

We consider the cost of providing incentives through tournaments when workers are inequity averse and performance … envy depending on the costs of assessing performance. More envious employees are preferred when these costs are high, less …

Persistent link: https://www.econbiz.de/10005696268

Unemployment in East and West Europe

Münich, Daniel; Svejnar, Jan - C.E.P.R. Discussion Papers - 2007

In this paper, we use 1991-2005 panel data on the unemployed, vacancies, inflow into unemployment, and outflow from unemployment in five former communist economies and in the western part of Germany (a benchmark western economy) to examine the evolution of unemployment together with that of...

Persistent link: https://www.econbiz.de/10005656270

Why is Spanish Unemployment so High?

Dolado, Juan J.; Jimeno, Juan F - C.E.P.R. Discussion Papers - 1995

In this paper we analyse the underlying causes behind Spanish unemployment which is now at 24%. We interpret this unfortunate outcome as the result of a series of adverse shocks, compounded by disinflationary policies and by a flawed system of labour market institutions. Our aim is to explain...

Persistent link: https://www.econbiz.de/10005667046

Employment, Macroeconomic Fluctuations and Job Security

Díaz-Vázquez, María del Pilar; Snower, Dennis J. - C.E.P.R. Discussion Papers - 1996

The paper explores the influence of job security provisions on employment and unemployment. We show that this influence depends on the persistence of the macroeconomic fluctuations to which the labour market is exposed, and on employees’ bargaining power in wage negotiations. Specifically,...

Persistent link: https://www.econbiz.de/10005124142

Incentives Versus Sorting in Tournaments: Evidence from a Field Experiment

Leuven, Edwin; Oosterbeek, Hessel; Sonnemans, Joep; van … - C.E.P.R. Discussion Papers - 2008

A vast body of empirical studies lends support to the incentive effects of rank-order tournaments. Evidence comes from … tournaments may bias these non-experimental studies, whereas short task duration or lack of distracters may limit the external … where students selected themselves into tournaments with different prizes. Within each tournament the best performing …

Persistent link: https://www.econbiz.de/10005136509

Does Competition Reduce the Risk of Bank Failure?

Martinez-Miera, David; Repullo, Rafael - C.E.P.R. Discussion Papers - 2008

A large theoretical literature shows that competition reduces banks' franchise values and induces them to take more risk. Recent research contradicts this result: When banks charge lower rates, their borrowers have an incentive to choose safer investments, so they will in turn be safer. However,...

Persistent link: https://www.econbiz.de/10005124382

Public and Private Insurance with Costly Transactions

Bertola, Giuseppe; Koeniger, Winfried - C.E.P.R. Discussion Papers - 2010

We characterize how public insurance schemes are constrained by hidden financial transactions. When non-exclusive private insurance entails increasing unit transaction costs, public transfers are only partly offset by hidden private transactions, and can influence consumption allocation. We show...

Persistent link: https://www.econbiz.de/10008682880

Regulatory Competition and Bank Risk Taking

Agur, Itai - C.E.P.R. Discussion Papers - 2009

How damaging is competition between bank regulators? This paper models regulators that compete because they want to supervise more banks. Both banks' risk profiles and their access to wholesale funding are endogenous, leading to rich interactions. The sensitivity of regulatory standards to bank...

Persistent link: https://www.econbiz.de/10008577817

The Empirical Measure of Information Problems with Emphasis on Insurance Fraud and Dynamic Data

Dionne, Georges - Centre Interuniversitaire sur le Risque, les Politiques … - 2012

We discuss the difficult question of measuring the effects of asymmetric information problems on resource allocation. Three problems are examined: moral hazard, adverse selection, and asymmetric learning. One theoretical conclusion, drawn by many authors, is that information problems may...

Persistent link: https://www.econbiz.de/10010570021

Risk Classification and Health Insurance

Dionne, Georges; Rothschild, Casey G. - Centre Interuniversitaire sur le Risque, les Politiques … - 2012

Risk classification refers to the use of observable characteristics by insurers to group individuals with similar expected claims, compute the corresponding premiums, and thereby reduce asymmetric information. With perfect risk classification, premiums fully reflect the expected cost associated...

Persistent link: https://www.econbiz.de/10010693198