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This paper analyses the formation of international environmental agreements (IEAs) under uncertainty, focusing on the … of IEA formation when countries are risk neutral and another that explores the implications of uncertainty and risk …
Persistent link: https://www.econbiz.de/10010736746
Persistent link: https://www.econbiz.de/10005443400
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This paper develops and applies a method for decomposing cross section variability of earnings into components that are forecastable at the time students decide to go to college (heterogeneity) and components that are unforecastable. About 60% of variability in returns to schooling is...
Persistent link: https://www.econbiz.de/10005822068
Although economic agents routinely face various types of economic uncertainty, their effects are often unclear and hard … to assess, in part due to the absence of suitable measures of uncertainty. Because of the numerous and very substantial … their periods of uncertainty, moreover, these countries have experienced sharply falling fertility rates. Some have argued …
Persistent link: https://www.econbiz.de/10005822407
earnings variability are due to uncertainty and which components are due to components of human diversity that are forecastable …
Persistent link: https://www.econbiz.de/10005822493
Optimal layoff rules in closed form are derived for all workers in a firm that downsizes under uncertainty and faces … aircraft building company that went bankrupt in 1996 shows that workers with high uncertainty associated with higher than …
Persistent link: https://www.econbiz.de/10005822776
We specify a structural life-cycle model of consumption, labour supply and job mobility in an economy with search frictions that allows us to distinguish between different sources of risk and to estimate their effects. The sources of risk are shocks to productivity, job destruction, the process...
Persistent link: https://www.econbiz.de/10005822852
We construct and estimate by maximum likelihood an equilibrium search model where wages are set by Nash bargaining and idiosyncratic productivity follows a geometric Brownian motion. The proposed framework enables us to endogenize job destruction and to estimate the rate of learning-by-doing....
Persistent link: https://www.econbiz.de/10005822961
The increase of fuel extraction costs as well as of temperature will make it likely that in the medium-term future technological or political measures against global warming may be implemented. In assessments of a current climate policy the possibility of medium-term future developments like...
Persistent link: https://www.econbiz.de/10008914276