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Gambling and the Use of Credit: An Individual and Household Level Analysis

Brown, Sarah; Dickerson, Andy; McHardy, Jolian; Taylor, Karl - Institute for the Study of Labor (IZA) - 2010

We explore the relationship between gambling and other forms of risk-taking behaviour, i.e. exposure to debt and the … Expenditure and Food Surveys (EFS), 2001 to 2007. Gambling and the use of credit are shown to be positively correlated at the … household level. While both the incidence and amount of gambling vary according to household income, the positive association …

Persistent link: https://www.econbiz.de/10008562538

A Survey of the Economics of Fair Trade

Dammert, Ana C.; Mohan, Sarah - Institute for the Study of Labor (IZA) - 2014

Fair Trade has spread in developing countries as an initiative aimed at lifting poor smallholder farmers out of poverty by providing them with premium prices, availability of credit, and improved community development and social goods. Fair Trade is also viewed as a niche market for high value...

Persistent link: https://www.econbiz.de/10010959823

Testing CAPM with a Large Number of Assets

Pesaran, M. Hashem; Yamagata, Takashi - Institute for the Study of Labor (IZA) - 2012

This paper is concerned with testing the time series implications of the capital asset pricing model (CAPM) due to Sharpe (1964) and Lintner (1965), when the number of securities, N, is large relative to the time dimension, T, of the return series. In the case of cross-sectionally correlated...

Persistent link: https://www.econbiz.de/10010550527

Formal Education Versus Learning-by-Doing

Gavrel, Frédéric; Lebon, Isabelle; Rebiere, Therese - Institute for the Study of Labor (IZA) - 2014

The efficiency of educational choices is studied in a search-matching model where individuals face a tradeoff: acquiring formal education or learning while on the job. When their education effort is successful, newcomers directly obtain a high-skill job; otherwise, they begin with a low-skill...

Persistent link: https://www.econbiz.de/10010812517

Predictability of Asset Returns and the Efficient Market Hypothesis

Pesaran, Hashem - Institute for the Study of Labor (IZA) - 2010

This paper is concerned with empirical and theoretical basis of the Efficient Market Hypothesis (EMH). The paper begins with an overview of the statistical properties of asset returns at different frequencies (daily, weekly and monthly), and considers the evidence on return predictability, risk...

Persistent link: https://www.econbiz.de/10008466034

Accounting for Imputed and Capital Income Flows in Income Inequality Analyses

Frick, Joachim R.; Grabka, Markus M. - Institute for the Study of Labor (IZA) - 2009

Using representative and consistent microdata from the German Socio-Economic Panel Study (SOEP) from 1985-2007, we illustrate that capital income (CI = return on financial investments) and imputed rent (IR = return on investments in owner-occupied housing) have become increasingly important...

Persistent link: https://www.econbiz.de/10008558933

The Impact of Household Capital Income on Income Inequality: A Factor Decomposition Analysis for Great Britain, Germany and the USA

Fräßdorf, Anna; Grabka, Markus M.; Schwarze, Johannes - Institute for the Study of Labor (IZA) - 2008

This paper analyses the contribution of capital income to income inequality in a cross-national comparison. Using micro-data from the Cross-National Equivalent File (CNEF) for three prominent panel studies, namely the BHPS for Great Britain, the SOEP for West Germany, and the PSID for the USA, a...

Persistent link: https://www.econbiz.de/10005762379