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Bacchiocchi, Emanuele; Missale, Alessandro - CESifo - 2005

This paper presents a simple model in which debt management stabilizes the debt-to-GDP ratio in face of shocks to real returns and output growth and thus supports fiscal restraint in ensuring sustainability. The optimal composition of public debt is derived by looking at the relative impact of...

Persistent link: https://www.econbiz.de/10005406296

Disentangling the Sources of Pro-social Behavior in the Workplace: A Field Experiment

Tonin, Mirco; Vlassopoulos, Michael - CESifo - 2009

This paper presents evidence from a field experiment, which aims to identify the two sources of workers’ pro-social motivation that have been considered in the literature: action-oriented altruism and output-oriented altruism. To this end we employ an experimental design that first measures...

Persistent link: https://www.econbiz.de/10005013946

Are Risk Aversion and Impatience Related to Cognitive Ability?

Dohmen, Thomas; Falk, Armin; Huffman, David; Sunde, Uwe - CESifo - 2009

This paper investigates whether risk aversion and impatience are correlated with cognitive ability. We conduct incentive compatible choice experiments measuring risk aversion, and impatience over an annual time horizon, for a representative sample of roughly 1,000 German adults. A measure of...

Persistent link: https://www.econbiz.de/10005000392

Money Matters - Evidence from a Large-Scale Randomized Field Experiment with Vouchers for Adult Training

Messer, Dolores; Wolter, Stefan C. - CESifo - 2009

This paper presents the results of a randomized experiment analyzing the use of vouchers for adult training. In 2006, 2,400 people were issued with a training voucher which they were entitled to use in payment for a training course of their choice. User behavior was compared with a control group...

Persistent link: https://www.econbiz.de/10005181564

Social Interactions and Schooling Decisions

Lalive, Rafael; Cattaneo, Alejandra - CESifo - 2006

The aim of this paper is to study whether schooling choices are affected by social interactions. Such social interactions may be important because children enjoy spending time with other children or parents learn from other parents about the ability of their children. Identification is based on...

Persistent link: https://www.econbiz.de/10005196320

A Gift is not Always a Gift: Gift Exchange in a Voucher Experiment

Becker, Sascha O.; Messer, Dolores; Wolter, Stefan C. - CESifo - 2011

Different from traditional gift exchange experiments, we study a field experiment where a random subsample of participants in the Swiss Labor Force Survey was sent vouchers to be used in adult training courses. Importantly for our purposes, actual voucher redemption can be traced. This gives the...

Persistent link: https://www.econbiz.de/10009144874

Effects of Adult Education Vouchers on the Labor Market: Evidence from a Randomized Field Experiment

Schwerdt, Guido; Messer, Dolores; Woessmann, Ludger; … - CESifo - 2011

Lifelong learning is often promoted in ageing societies, but little is known about its returns or governments’ ability to advance it. This paper evaluates the effects of a large-scale randomized field experiment issuing vouchers for adult education in Switzerland. We find no significant...

Persistent link: https://www.econbiz.de/10008833939

The Impact of Dividend Taxation on Dividends and Investment: New Evidence Based on a Natural Experiment

Kari, Seppo; Karikallio, Hanna; Pirttilä, Jukka - CESifo - 2009

There is a lack of clear evidence of the ways in which dividend taxation affects dividend distributions and investment …

Persistent link: https://www.econbiz.de/10005013938

Booms, Recessions and Financial Turmoil: A Fresh Look at Investment Decisions under Cyclical Uncertainty

Chen, Yu-Fu; Funke, Michael - CESifo - 2009

The paper studies the interaction between cyclical uncertainty and investment in a stochastic real option framework … of the link between cyclical uncertainty and investment is quantified using simulations of the model. The chief …

Persistent link: https://www.econbiz.de/10005013955

Optimal Investment Strategies under Demand and Tax Policy Uncertainty

Boehm, Hjalmar; Funke, Michael - CESifo - 2000

In this paper we offer an analysis of the effects of uncertainty about future tax policy on irreversible investment …. The main message of the paper is that investment is not much affected by the degreee of tax policy uncertainty. This is … that reducing tax policy uncertainty is probably no magic bullet to increase private investment spending …

Persistent link: https://www.econbiz.de/10005765662