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Ambiguity Aversion and Incompleteness of Financial Markets

Mukerji, Sujoy; Tallon, Jean-Marc - Department of Economics, Oxford University - 2000

It is widely thought that incomes risks can be shared by trading in financial assets. But financial assets typically carry some risk idiosyncratic to them, hence, disposing incomes risk using financial assets will involve buying into the inherent idiosyncratic risk. However, standard theory...

Persistent link: https://www.econbiz.de/10010604863

Equilibrium Analysis, Banking and Financial Instability

Tsomocos, Dimitrios P - Department of Economics, Oxford University - 2000

This paper first extends the canonical General Equilibrium with Incomplete Markets (GEI) model with money and default to allow for competitive banking and financial instability. Second, it introduces capital requirements for the banking sector to assess the short and medium term macroeconomic...

Persistent link: https://www.econbiz.de/10010661384

How Do Financial Systems Affect Economic Performance?

Mayer, Colin; Carlin, Wendy - Department of Economics, Oxford University - 1999

financial development with economic growth. A recent theoretical literature offers a way of reconciling these two sets of …

Persistent link: https://www.econbiz.de/10010661381

Finance, Investment and Growth

Mayer, Colin; Carlin, Wendy - Department of Economics, Oxford University - 1999

there is a relation in terms of both industry growth rates and shares of output devoted to R&D. Investment in R&D rather … countries` stages of economic development. For example, bank oriented systems are associated with higher growth of externally …

Persistent link: https://www.econbiz.de/10011133059

Productivity Growth in Latin America during the Twentieth Century

Fitzgerald, Valpy; Astorga, Pablo - Department of Economics, Oxford University - 2003

, Mexico, and Venezuela indicates that productivity growth was significantly higher and less volatile during the middle decades … of the century than in the opening and closing decades. The first estimate of total factor productivity (TFP) growth for …

Persistent link: https://www.econbiz.de/10010701813

Openness and Human Capital as Sources of Productivity Growth: An Empirical Investigation

Teal, Francis; Söderbom, Måns - Department of Economics, Oxford University - 2003

Do openness to trade and higher levels of human capital promote faster productivity growth? That they do is a key … implication of several versions of endogenous growth theory. To answer the question we use panel data on 93 countries spanning the … on productivity growth. If the level of openness of an economy is doubled the underlying rate of technical progress will …

Persistent link: https://www.econbiz.de/10011152494

Human Capital and Competition: Strategic Complementarities in Firm-based Training

Stevens, Margaret - Department of Economics, Oxford University - 2012

Vocational training systems differ markedly between countries. A model of firm-based human capital investment predicts equilibria characterised by particular patterns of training and job-to-job mobility, consistent with observed cross-country differences. Incentives to invest in human capital...

Persistent link: https://www.econbiz.de/10011004405

Human Capital, Investment and Innovation: What Are the Connections?

Nickell, S.; Nicolitsas, D. - Department of Economics, Oxford University - 1997

Fingold and Soskice (1988) argue that Britain is trapped in a "low-skills" equilibrium. In Redding (1996), this notion is formalized in a dynamic model which relies on strategic complementarities between firms' investments in R&D and workers' investments in human capital. In this paper, we...

Persistent link: https://www.econbiz.de/10005776252

Firm Provision of General Training and Specific Human Capital Acquisition

Casas-Arce, Pablo - Department of Economics, Oxford University - 2004

The existing literature on training is concerned with understanding the reasons why firms pay for the general skills of their workers, but without explaining which firms train which workers. This paper develops a theory that both explains the willingness of firms to pay for general training, and...

Persistent link: https://www.econbiz.de/10005090671

Information and Human Capital Management

Jewitt, Ian; Leaver, Clare; Bar-Isaac, Heski - Department of Economics, Oxford University - 2007

An increasingly important organisational design problem for many firms is to recoup general human capital rents while maintaining attractive career prospects for workers. We explore the role of information management in this context. In our model, an information management policy determines the...

Persistent link: https://www.econbiz.de/10005047782

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