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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
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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
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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
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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
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Belief Elicitation in Experiments: Is there a Hedging Problem?
Blanco, Mariana; Engelmann, Dirk; Koch, Alexander K.; … - Institute for the Study of Labor (IZA) - 2008
existing belief elicitation results, (ii) can we avoid potential hedging confounds? Our results instill confidence regarding … both issues. We propose an experimental design that eliminates hedging opportunities, and use this to test for the … empirical relevance of hedging effects in the lab. We find no evidence for hedging, comparing the standard “hedging …
Persistent link: https://www.econbiz.de/10005761772
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Educational Homogamy: Preferences or Opportunities?
Nielsen, Helena Skyt; Svarer, Michael - Institute for the Study of Labor (IZA) - 2006
Individuals match on length and type of education. We investigate whether the systematic relationship between educations of partners is explained by opportunities (e.g. low search frictions) or preferences (e.g. complementarities in household production or portfolio optimization). We find that...
Persistent link: https://www.econbiz.de/10005703755
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Unemployment and Labor Force Participation in Turkey
Tansel, Aysit; Ozdemir, Zeynel Abidin; Aksoy, Emre - Institute for the Study of Labor (IZA) - 2015
developing country. Cointegration analysis is carried out for the aggregate and gender and age specific series. The findings …
Persistent link: https://www.econbiz.de/10011167201
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MIMIC Models, Cointegration and Error Correction: An Application to the French Shadow Economy
Buehn, Andreas; Schneider, Friedrich - Institute for the Study of Labor (IZA) - 2008
differences. Arguably, this shortcoming is rooted in the lack of an appropriate MIMIC model which considers cointegration among … variables. This paper develops a MIMIC model which estimates the cointegration equilibrium relationship and the error correction …
Persistent link: https://www.econbiz.de/10005762169
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Inflation, Minimum Wage and Other Wages: An Econometric Study on French Macroeconomic Data
L'Horty, Yannick; Rault, Christophe - Institute for the Study of Labor (IZA) - 2003
This paper examines the set of interdependences between the formation of wages, prices and the minimum wage (SMIC) through a vectorial error correction model estimated on French quarterly macroeconomic data covering the 1970-1/1999-4 period. Two periods are distinguished: the period of inflation...
Persistent link: https://www.econbiz.de/10005233863
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The Impact of Growth, Labour Cost and Working Time on Employment: Lessons from the French Experience
L’Horty, Yannick; Rault, Christophe - Institute for the Study of Labor (IZA) - 2003
To account for employment evolutions at the macro-economic level, we propose a modelling where employment is explained by added value, working time and real labour cost. Estimations using quarterly French macro-economic data are carried out in a multivariate framework for three sets of sectors....
Persistent link: https://www.econbiz.de/10005703692