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Bailout Uncertainty in a Microfounded General Equilibrium Model of the Financial System
Cukierman, Alex; Izhakian, Yehuda - C.E.P.R. Discussion Papers - 2011
between risk and uncertainty is implemented by applying the Gilboa-Schmeidler maxmin with multiple priors framework to lenders …, ultimate lenders and financial intermediaries. The model is used to investigate the impact of uncertainty about the likelihood … include: (i) An unanticipated increase in bailout uncertainty raises interest rates, the volume of defaults in both the real …
Persistent link: https://www.econbiz.de/10009144737
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Macroinsurance for Microenterprises: A Randomized Experiment in Post-Revolution Egypt
McKenzie, David - C.E.P.R. Discussion Papers - 2014
Firms in many developing countries cite macroeconomic instability and political uncertainty as major constraints to … their growth. Economic theory suggests uncertainty can cause firms to delay investments until uncertainty is resolved. We … macroeconomic and political uncertainty. Demand for macroeconomic shock insurance was high; 36.7 percent of microentrepreneurs in …
Persistent link: https://www.econbiz.de/10011084029
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The Flattening Firm and Product Market Competition
Guadalupe, Maria; Wulf, Julie - C.E.P.R. Discussion Papers - 2009
This paper establishes a causal effect of product market competition on various characteristics of organizational design. Using a unique panel dataset on firm hierarchies of large U.S. firms (1986-1999) and a quasi-natural experiment (trade liberalization), we find that increasing competition...
Persistent link: https://www.econbiz.de/10005792092
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Inequality of Earnings
Snower, Dennis J. - C.E.P.R. Discussion Papers - 1999
This paper surveys major empirical regularities concerning changes in earnings inequality in Europe and the US over the past 25 years. Next, it indicates which of these regularities can be explained within the competitive demand-supply framework of analysis and what is left unexplained. Finally,...
Persistent link: https://www.econbiz.de/10005792213
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Technological Change, Organizational Change, and Job Turnover
Bauer, Thomas; Bender, Stefan - C.E.P.R. Discussion Papers - 2002
This Paper uses a German employer-employee matched panel dataset to investigate the effect of organizational and technological changes on gross job and worker flows. The empirical results indicate that organizational change is skill-biased because it reduces predominantly net employment growth...
Persistent link: https://www.econbiz.de/10005792471
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Flexible Wages Systems and the Structure of Wages: Evidence from Matched Employer-Employee Data
Bauer, Thomas; Bender, Stefan - C.E.P.R. Discussion Papers - 2001
A growing theoretical and empirical literature is concerned with the effects of flexible workplace systems or High Performance Work Organizations (HPWOs) on wages. Existing theoretical literature suggests that these forms of organization should lead to higher inequality across firms, increased...
Persistent link: https://www.econbiz.de/10005504382
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Multitasking and Wages
Görlich, Dennis; Snower, Dennis J. - C.E.P.R. Discussion Papers - 2013
This paper sheds light on how changes in the organization of work can help to understand increasing wage inequality. We present a theoretical model in which workers with a wider span of competence (higher level of multitasking) earn a wage premium. Since abilities and opportunities to expand the...
Persistent link: https://www.econbiz.de/10011084040
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The Anatomy of French Production Hierarchies
Caliendo, Lorenzo; Monte, Ferdinando; Rossi-Hansberg, … - C.E.P.R. Discussion Papers - 2012
We use a comprehensive dataset of French manufacturing firms to study their internal organization. We first divide the employees of each firm into `layers' using occupational categories. Layers are hierarchical in that the typical worker in a higher layer earns more, and the typical firm...
Persistent link: https://www.econbiz.de/10011084412
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Green innovations and organisational change: making better use of environmental technology
Hottenrott, Hanna; Rexhäuser, Sascha; Veugelers, Reinhilde - C.E.P.R. Discussion Papers - 2012
The literature on within-firm organizational change and productivity suggests that firms can make more efficient use of certain technologies if complementary forms of organization are adopted. This issue may be of even greater importance for the case of greenhouse gas (GHG) abatement...
Persistent link: https://www.econbiz.de/10011084545
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Personal Pensions with Risk sharing: Affordable, Adequate and Stable Private Pensions in Europe
Bovenberg, A Lans; Nijman, Theo E - C.E.P.R. Discussion Papers - 2015
withdrawal of employers and external insurers as risk bearers of systematic financial and longevity risks. Partly because of … pension: the Personal Pension with Risk sharing (PPR). By unbundling and valuing the investment, (dis)saving, insurance and … risk-sharing functions of pensions, PPRs allow risk management and (dis)saving to be customized to the specific features of …
Persistent link: https://www.econbiz.de/10011252616