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Fiscal Policy, Interest Rate Spreads, and the Zero Lower Bound

Bredemeier, Christian; Juessen, Falko; Schabert, Andreas - Institute for the Study of Labor (IZA) - 2015

This paper questions unconventional fiscal policy effects when the monetary policy rate is at the zero lower bound. We provide evidence for the US that the spread between the policy rate and the US-LIBOR, which is more relevant for private sector transactions, increases with government...

Persistent link: https://www.econbiz.de/10011265653

Inflation Persistence and the Phillips Curve Revisited

Karanassou, Marika; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2007

A major criticism against staggered nominal contracts is that they give rise to the so called "persistency puzzle" - although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly asserted that, in the context of the new Phillips...

Persistent link: https://www.econbiz.de/10005703349

External Monetary Shocks and Monetary Integration: Evidence from the Bulgarian Currency Board

Minea, Alexandru; Rault, Christophe - Institute for the Study of Labor (IZA) - 2011

Starting July the 1st 1997, Bulgaria adopted a Currency Board (CB) monetary system. This paper aims at investigating if the adoption of the CB monetary system, which involves the cost of loosing monetary autonomy, has provided a relatively better (with respect to other CEEC) monetary integration...

Persistent link: https://www.econbiz.de/10009147299

Default Options and Training Participation

Borghans, Lex; Golsteyn, Bart H.H. - Institute for the Study of Labor (IZA) - 2013

the size of the default effect varies with employees' personality and skill-deficiencies. We perform an experiment in … default package of courses, we identify the default effect. Default courses are chosen approximately three times more often … consider the default to be an advice. Women choose default courses more often than men. Women with less self-confidence and men …

Persistent link: https://www.econbiz.de/10010773916

Framing Effects in an Employee Savings Scheme: A Non-Parametric Analysis

Kooreman, Peter; Melenberg, Bertrand; Prast, Henriëtte M. - Institute for the Study of Labor (IZA) - 2013

Studies have found evidence that seemingly irrelevant details of an income component such as its label have an effect on how it is used. Using a data set with more than one million employee-month observations, we investigate the role of functional form assumptions and time aggregation in the...

Persistent link: https://www.econbiz.de/10010604672

Shifting Perspectives in Pensions

Góra, Marek; Palmer, Edward - Institute for the Study of Labor (IZA) - 2004

This paper addresses the questions of what is an economically efficient pension system, what are the externalities and what are the risks of the four alternative pension systems: financial defined contribution (FDC), notional or non-financial defined contribution (NDC), financial defined benefit...

Persistent link: https://www.econbiz.de/10005703380

Pension Plan Characteristics and Framing Effects in Employee Savings Behavior

Card, David E.; Ransom, Michael R. - Institute for the Study of Labor (IZA) - 2007

In this paper we document the importance of framing effects in the retirement savings decisions of college professors. Pensions in many post-secondary institutions are funded by a combination of an employer contribution and a mandatory employee contribution. Employees can also make tax-deferred...

Persistent link: https://www.econbiz.de/10005703794

Crowdfunding, Cascades and Informed Investors

Parker, Simon C. - Institute for the Study of Labor (IZA) - 2014

Do higher proportions of (a) informed investors and (b) high-quality projects increase the number of good projects that are ultimately financed via crowdfunding? A simple model and simulation reveals the answers to both questions to be: 'not necessarily'.

Persistent link: https://www.econbiz.de/10010747357

The Wider Economic Impacts of High-Skilled Migrants: A Survey of the Literature

Nathan, Max - Institute for the Study of Labor (IZA) - 2013

In recent years, the economics of migration literature has shown a substantial growth in papers exploring host country impacts beyond the labour market. Specifically, researchers have begun to shift their attention from labour market and fiscal changes, towards exploring what we might call...

Persistent link: https://www.econbiz.de/10010796455

Do Women Manage Smaller Funds?

Hübler, Olaf; Menkhoff, Lukas - Institute for the Study of Labor (IZA) - 2010

Based on a sample of 467 asset managers from four countries we robustly find that women manage smaller funds than men, despite tough competition in this industry. Interestingly, the gender gap exists only for managers of smaller funds, i.e. at the lower end of the hierarchy, as quantile...

Persistent link: https://www.econbiz.de/10008615436