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How Policy Changes Affect Shareholder Wealth: The Case of the Fukushima Daiichi Nuclear Disaster

Betzer, André; Doumet, Markus; Rinne, Ulf - Institute for the Study of Labor (IZA) - 2011

This paper analyzes how policy changes affect shareholder wealth in the context of environmental regulation. We exploit the unique and unexpected German reaction to the Fukushima Daiichi nuclear disaster, which involved the immediate shutdown of almost half of Germany’s nuclear reactors while...

Persistent link: https://www.econbiz.de/10009220619

Give Me Your Wired and Your Highly Skilled: Measuring the Impact of Immigration Policy on Employers and Shareholders

Lin, Carl - Institute for the Study of Labor (IZA) - 2011

The paper links finance theory to labor economics and political economy in the context of migration and immigration policy. Most research treating the impact of immigration has focused on the consequences for employees as measured by wages, earnings, and employment. Less is known about the...

Persistent link: https://www.econbiz.de/10009294984

Decomposing Excess Returns in Stochastic Linear Models

Lin, Carl - Institute for the Study of Labor (IZA) - 2011

We present a theorem helpful in estimating the mean and variance of a linear function with arbitrary multivariate randomness in its coefficients and variables. We derive a generalized decomposition result from two random linear functions in which the result can be applied to most models using...

Persistent link: https://www.econbiz.de/10009403383

Diagnosing Discrimination: Stock Returns and CEO Gender

Wolfers, Justin - Institute for the Study of Labor (IZA) - 2006

A vast labor literature has found evidence of a "glass ceiling", whereby women are underrepresented among senior management. A key question remains the extent to which this reflects unobserved differences in productivity, preferences, prejudice, or systematically biased beliefs about the ability...

Persistent link: https://www.econbiz.de/10005762168

Partisan Impacts on the Economy: Evidence from Prediction Markets and Close Elections

Snowberg, Erik; Wolfers, Justin; Zitzewitz, Eric - Institute for the Study of Labor (IZA) - 2006

Political economists interested in discerning the effects of election outcomes on the economy have been hampered by the problem that economic outcomes also influence elections. We sidestep these problems by analyzing movements in economic indicators caused by clearly exogenous changes in...

Persistent link: https://www.econbiz.de/10005703211

The Effects of Labour Tax Progression under Nash Wage Bargaining and Flexible Outsourcing

Koskela, Erkki - Institute for the Study of Labor (IZA) - 2008

This paper studies in the presence of flexible outsourcing the effects of outsourcing costs, productivity of … outsourcing, wage tax and tax exemption in an imperfectly competitive labour markets when labour unions and firms negotiate wages … demand is higher than in the case of strategic outsourcing and a decreasing function of the outsourcing cost, an increasing …

Persistent link: https://www.econbiz.de/10005822254

International Outsourcing and the Skill Structure of Labour Demand in the United Kingdom

Hijzen, Alexander; Görg, Holger; Hine, Robert C. - Institute for the Study of Labor (IZA) - 2004

This paper investigates empirically the link between international outsourcing and the skill structure of labour demand … in the United Kingdom. It is the first detailed study of this issue for the UK. Outsourcing is calculated using import … factor demands, our main results show that international outsourcing has had a strong negative impact on the demand for …

Persistent link: https://www.econbiz.de/10005822380

Winners and Losers: Fragmentation, Trade and Wages Revisited

Geishecker, Ingo; Görg, Holger - Institute for the Study of Labor (IZA) - 2004

Our paper investigates the link between outsourcing and wages utilising a large household panel and combining it with … industry level information on industries’ outsourcing activities from input-output tables. By doing so we can arguably overcome … fragmentation has had a marked impact on wages. Distinguishing three skill categories we find evidence that outsourcing reduced the …

Persistent link: https://www.econbiz.de/10005822438

How Outsourcing Affects Bilateral Political Relations

Polachek, Solomon W. - Institute for the Study of Labor (IZA) - 2004

One issue the literature neglects is how outsourcing stimulates trade (imports, exports and foreign direct investment …

Persistent link: https://www.econbiz.de/10005822680

Equilibrium Unemployment with Outsourcing under Labour Market Imperfections

Koskela, Erkki; Stenbacka, Rune - Institute for the Study of Labor (IZA) - 2007

We study both the various consequences and the incentives of outsourcing. We argue that the wage elasticity of labour … demand is increasing as a function of the share of outsourcing, which is importantly a result consistent with existing … empirical research. Furthermore, we show that a production mode with a higher proportion of outsourcing activity reduces the …

Persistent link: https://www.econbiz.de/10005822911