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Decentralized Investment Management: Evidence from the Pension Fund Industry

Blake, David; Timmermann, Allan G; Tonks, Ian; Wermers, Russ - C.E.P.R. Discussion Papers - 2010

The past few decades have seen a major shift from centralized to decentralized investment management by pension fund sponsors, despite the increased coordination problems that this brings. Using a unique, proprietary dataset of pension sponsors and managers, we identify two secular...

Persistent link: https://www.econbiz.de/10008530363

Dedicated taxes and rent capture by public employees

Cromwell, Brian A. - Federal Reserve Bank of Cleveland - 1989

A test of whether the enactment of a dedicated tax leads to higher payroll and wages for public employees, by means of survey results from the local mass-transit industry.

Persistent link: https://www.econbiz.de/10005526634

Federal grant policies and public sector scrappage decisions

Cromwell, Brian A. - Federal Reserve Bank of Cleveland - 1988

An examination of capital policies in the public and private sector through analysis of the scrappage decisions of local mass-transit providers, showing that the structure of federal grants has a direct impact on scrappage rates that leads to shorter equipment life in the local public sector.

Persistent link: https://www.econbiz.de/10005428191

Estimating the relationship between local, public and private investment

Eberts, Randall W.; Fogerty, Michael S. - Federal Reserve Bank of Cleveland - 1987

A discussion of whether public outlays influence private investment, modeling the timing and effectiveness of public infrastructure as a local policy instrument.

Persistent link: https://www.econbiz.de/10005428329

Tax-Subsidized Underpricing: Issuers and Underwriters in the Market for Build America Bonds

Cestau, Dario; Green, Richard; Schürhoff, Norman - C.E.P.R. Discussion Papers - 2012

Build America Bonds (BABs) were issued by states and municipalities for twenty months as an alternative to tax-exempt bonds. The program was part of the 2009 fiscal stimulus package. The bonds are taxable to the holder, but the federal Treasury rebates 35% of the coupon payment to the issuer....

Persistent link: https://www.econbiz.de/10011084229

The Effects of Temporary Services and Contracting Out on Low-Skilled Workers: Evidence from Auto Suppliers, Hospitals, and Public Schools

Erickcek, George; Houseman, Susan; Kalleberg, Arne - W.E. Upjohn Institute for Employment Research - 2002

We examine why employers use temporary agency and contract company workers and the implications of these practices for … outsourcing. Adverse effects on compensation are clearest when companies substitute agency temporaries or contract company workers …, organizations only contract out management functions or utilize agency temporaries for brief periods of time, with little direct …

Persistent link: https://www.econbiz.de/10005101987

The cost of contract renegotiation: Evidence from the local public sector

Gagnepain, Philippe; Ivaldi, Marc; Martimort, David - C.E.P.R. Discussion Papers - 2010

The renegotiation of regulatory contracts is known to prevent regulators from achieving the full commitment efficient outcome in dynamic contexts. However, assessing the cost of such renegotiation remains an open issue from an empirical viewpoint. To address this question, we fit a structural...

Persistent link: https://www.econbiz.de/10008684689

The Benefits Implications of Recent Trends in Flexible Staffing Arrangements

Houseman, Susan N. - W.E. Upjohn Institute for Employment Research - 2001

Workers in flexible staffing arrangements - including temporary agency, direct-hire temporary, on-call, and contract …

Persistent link: https://www.econbiz.de/10005116767

Debt Contracts, Collapse and Regulation as Competition Phenomena

Gersbach, Hans; Uhlig, Harald - C.E.P.R. Discussion Papers - 1997

lenders, which may make lending altogether unprofitable. Second, banks can have an incentive to offer a debt contract and … additional equity contracts to intermediate debtors, which is in turn dominated by a simple debt contract, only attractive for … seek to avoid the contract with the highest chance of delivery: that contract attracts all bad entrepreneurs. …

Persistent link: https://www.econbiz.de/10005661861

Leviathan Resists: The Endogenous Relationship Between Privatisation and Firm Performance.

Ulubasoglu, Mehmet; Arin, K. Peren - Deakin University, Faculty of Business and Law, School … - 2005

Using a unique panel data set of privatised cement firms in Turkey, we test the hypothesis that privatisation and firm … relationship between privatisation and firm performance, we find that: i) private sector increases the output in the medium … of labour growth on productivity is less severe during the privatised period, and iv) the likelihood of the privatisation …

Persistent link: https://www.econbiz.de/10004997878