This paper is concerned with testing the time series implications of the capital asset pricing model (CAPM) due to … evidence against Sharpe-Lintner CAPM is found mainly during the recent financial crisis. Furthermore, a strong negative …

SOEP for West Germany, and the PSID for the USA, a factor decomposition method described by Shorrocks (1982) is applied … contribution to overall inequality in relation to its share in disposable income. This applies to Germany and the USA in particular …

-occupied housing) have become increasingly important sources of economic inequality in Germany over the last two decades. Whereas the … effects to increase over time. The analyses presented here, exemplified for Germany, make a clear case for the joint …

paper offers a solution to this disagreement, suggesting that volatility carries a positive direct effect, but also a … volatility is then ambiguous. The paper reveals the underlying endogeneity of government size in a balanced panel of 95 countries … increase of volatility lowers growth by up to 0.57 percentage points in a democracy, but raises growth by 1.74 percentage …

What is the relationship between economic growth and its volatility? Does political instability affect growth directly … or indirectly, through volatility? This paper tries to answer such questions using a power-ARCH framework with annual … legislative changes) has an indirect (through volatility) negative impact. We also find preliminary support for the idea that …

.g., cabinet changes) has an indirect (through volatility) impact on growth; (iii) the effect of financial development is positive … and, surprisingly, not via volatility; (iv) the informal instability effects are much larger in the short- than in the …

achieve similar volatility than fully deregulated labor markets. Flexibility at the margin produces a gap in separation costs … de labor market volatility. This increased volatility is partially reverted when limitations in the duration and number … explain the similar volatility observed in many regulated OECD labor markets with flexibility at the margin vis-à-vis the …

individual effects on economic growth and volatility using the power-ARCH framework with annual data since the 1890s. The results …