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Does Everyone Use Probabilities? Intuitive and Rational Decisions about Stockholding

Binswanger, Johannes; Salm, Martin - Institute for the Study of Labor (IZA) - 2013

We investigate the relationship between subjective probabilities of future stock market returns and decisions about stockholding. Specifically, we examine whether acting upon subjective probabilities is confined to individuals with high cognitive skills. We explore this question using data from...

Persistent link: https://www.econbiz.de/10010631344

Better Means More: Property Rights and High-Growth Aspiration Entrepreneurship

Estrin, Saul; Korosteleva, Julia; Mickiewicz, Tomasz - Institute for the Study of Labor (IZA) - 2009

entrepreneurship, but has less pronounced effects for entrepreneurial entry. The availability of finance and the fiscal burden matter …

Persistent link: https://www.econbiz.de/10005015496

Performance analysis of international mutual funds incorporating market frictions

ter Horst, Jenke; Nijman, Theo; de Roon, F.A. - Tilburg University, Center for Economic Research - 1998

Persistent link: https://www.econbiz.de/10011090489

Decision Making in the Pension Fund Board Room : An Experiment with Dutch Pension Fund Trustees

van Dalen, H.P.; Henkens, K.; Koedijk, C.G.; Slager, A.M.H. - Tilburg University, Center for Economic Research - 2010

We ask how pension fund trustees deal with the booms and busts that funds encounter, and to what extent the decisions of pension fund trustees are affected by behavioral biases. We examine these issues by using a vignette-method field experiment among Dutch pension fund trustees. We find that...

Persistent link: https://www.econbiz.de/10011092529

Finance and Growth for Microenterprises : Evidence from Rural China

Beck, Thorsten; Lu, L.; Yang, R. - Tilburg University, Center for Economic Research - 2013

Abstract: Using a survey dataset of Chinese rural households, we find that access to external finance is positively … associated with the decision to become entrepreneur, the initial investment for microenterprises and the use of external finance …. Also, we find that the use of informal finance is positively associated with sales growth of microenterprises with …

Persistent link: https://www.econbiz.de/10011092482

Tobin Lives: Integrating evolving credit market architecture into flow of funds based macro-models

Muellbauer, John; Duca, John - Department of Economics, Oxford University - 2012

After the global financial crisis, there is greater awareness of the need to understand the interactions between the financial sector and the real economy and hence the potential for financial instability. Data from the financial flow of funds, previously relatively neglected, are now seen as...

Persistent link: https://www.econbiz.de/10011004428

Cross-National Differences in Wealth Portfolios at the Intensive Margin: Is There a Role for Policy?

Doorley, Karina; Sierminska, Eva - Institute for the Study of Labor (IZA) - 2014

Using harmonized wealth data and a novel decomposition approach in this literature, we show that cohort effects exist in the income profiles of asset and debt portfolios for a sample of European countries, the U.S. and Canada. We find that the association between household wealth portfolios at...

Persistent link: https://www.econbiz.de/10010959745

Towards a Measure of Financial Fragility

Tsomocos, Dimitrios P - Department of Economics, Oxford University - 2006

This paper proposes a measure of financial fragility that is based on economic welfare in a general equilibrium model calibrated against UK data. The model comprises a household sector, three active heterogeneous banks, a central bank/regulator, incomplete markets, and endogenous default. We...

Persistent link: https://www.econbiz.de/10010661361

A Time Series Analysis of Financial Fragility in the UK Banking System

Tsomocos, Dimitrios P - Department of Economics, Oxford University - 2004

This paper extends the model proposed by Goodhart, Sunirand, and Tsomocos (2003, 2004a,b) to an infinite horizon setting. Thus, we are able to assess how the model conforms with the time series data of the U.K. banking system. We conclude that, since the model performs satisfactorily, it can be...

Persistent link: https://www.econbiz.de/10010661459

A Risk Assessment Model for Banks

Tsomocos, Dimitrios P; Goodhart, Charles A.E. - Department of Economics, Oxford University - 2004

The objective of this paper is to propose a model to assess risk for banks. Its main innovation is to incorporate endogenous interaction between banks, recognising that the actual risk to which an individual bank is exposed also depends on its interaction with other banks and other private...

Persistent link: https://www.econbiz.de/10010820299

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