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A worker’s utility may increase in his own income, but envy can make his utility decline with his employer’s income. Such behavior may call for high-powered incentives, so that increased effort by the worker little increases the income of his employer. This paper uses a principal-agent model...
Persistent link: https://www.econbiz.de/10005765867
In recent years stock option plans (SOPs) have become an important component of managerial remuneration in most industrialized countries. Commonly accepted, corporate as well as individual taxes have a major impact on the costs of a SOP. In contrast, the tax influence on the benefits of a SOP...
Persistent link: https://www.econbiz.de/10005766318
macroeconomics. The current policy, however, provides a credible platform for sustainable growth. Greece has entered the process of …-se determining growth, supply-side reforms and institutional performance are; and for Greece both are better served within the EMU …
Persistent link: https://www.econbiz.de/10010948838
of the restructuring left money on the table from the perspective of Greece, created a large risk for European taxpayers …
Persistent link: https://www.econbiz.de/10010679378
We describe the evolution of the power struggle in Greece among key economic and political stakeholders, who have tried …
Persistent link: https://www.econbiz.de/10010679379
and current account deficits, which have in turn driven Greece’s foreign indebtedness to alarming levels, necessitating …
Persistent link: https://www.econbiz.de/10008572540
This paper examines the long run education and labor market effects from early-life exposure to the Greek 1941-42 famine. Given the short duration of the famine, we can separately identify the famine effects for cohorts exposed in utero, during infancy and at one year of age. We find that...
Persistent link: https://www.econbiz.de/10008583697
death), hospital utilization, and medical expenditure in Greece during the period 1995-2010. The estimates indicate that … pharmaceutical innovation. The baseline estimate of the cost per life-year gained from pharmaceutical innovation in Greece is $17 …
Persistent link: https://www.econbiz.de/10011122677
response analysis. Second, we examine the announcements effects on market volatility in a more detailed fashion by … adequately analyze both conditional mean and volatility effects. …
Persistent link: https://www.econbiz.de/10010877723
We use a new dataset on non-resource GDP to examine the impact of commodity price volatility on economic growth in a … panel of up to 158 countries during the period 1970-2007. Our main finding is that commodity price volatility leads to a … result, we show that increased commodity price volatility leads to a statistically significant and quantitatively large …
Persistent link: https://www.econbiz.de/10009352227