Showing 1 - 10 of 50
In this paper we proose the infimum of the Arrow-Pratt index of absolute risk aversion as a measure of global risk aversion of a utility function. We then show that, for any given arbitrary pair of distributions, there exists a threshold level of global risk aversion such that all increasing...
Persistent link: https://www.econbiz.de/10005708017
In this paper we study the evolution of the labor share in the OECD since 1970. We show it is essentially related to the capital-output ratio; that this relationship is shifted by factors like the price of imported materials or the skill mix; and that discrepancies between the marginal product...
Persistent link: https://www.econbiz.de/10005771979
Why was England first? And why Europe? We present a probabilistic model that builds on big-push models by Murphy, Shleifer and Vishny (1989), combined with hierarchical preferences. The interaction of exogenous demographic factors (in particular the English low-pressure variant of the European...
Persistent link: https://www.econbiz.de/10005772100
El análisis de las regiones españolas en el período 1980-1995 indica que la composición sectorial explica la mayor parte de la evolución del empleo y de las diferencias en productividad, salarios medios y participación de las rentas del trabajo. Para el VAB el componente regional es más...
Persistent link: https://www.econbiz.de/10005704972
Over the past two decades, technological progress in the United States has been biased towards skilled labor. What does this imply for business cycles? We construct a quarterly skill premium from the CPS and use it to identify skill-biased technology shocks in a VAR with long-run restrictions....
Persistent link: https://www.econbiz.de/10004969342
We study the extent of macroeconomic convergence/divergence among euro area countries. Our analysis focuses on four variables (unemployment, inflation, relative prices and the current account), and seeks to uncover the role played by monetary union as a convergence factor by using non-euro...
Persistent link: https://www.econbiz.de/10010849588
We use a Colombian TV game show to test gender differences in competitive behavior where there is no opportunity for discrimination and females face no genderspecific external constraints. Each game started with six contestants who had to answer general knowledge questions in private. There were...
Persistent link: https://www.econbiz.de/10005029664
In this paper, we present a matching model with adverse selection that explains why flows into and out of unemployment are much lower in Europe compared to North America, while employment-to-employment flows are similar in the two continents. In the model,firms use discretion in terms of whom to...
Persistent link: https://www.econbiz.de/10005572594
We consider the dynamic relationship between product market entry regulation and equilibrium unemployment. The main theoretical contribution is combining a Mortensen-Pissarides model with monopolistic competition in the goods market and individual wage bargaining. Product market competition...
Persistent link: https://www.econbiz.de/10005572619
Labor market regulations have often being blamed for high and persistent unemployment in Europe, but evidence on their impact remains mixed. More recently, attention has turned to the impact of product market regulations on employment growth. This paper analyzes how labor and product market...
Persistent link: https://www.econbiz.de/10005572630