Similar Search Results

Merz, Monika; Yashiv, Eran - Institute for the Study of Labor (IZA) - 2003

What role does labor play in firms’ market value? We explore this question using a production-based asset pricing model with frictions in the adjustment of both capital and labor. We posit that hiring of labor is akin to investment in capital and that the two interact, with the interaction...

Persistent link: https://www.econbiz.de/10005233766

What Is the Value of Entrepreneurship? A Review of Recent Research

Praag, Mirjam van; Versloot, Peter H. - Institute for the Study of Labor (IZA) - 2007

This paper examines to what extent recent empirical evidence can collectively and systematically substantiate the claim that entrepreneurship has important economic value. Hence, a systematic review is provided that answers the question: What is the contribution of entrepreneurs to the economy...

Persistent link: https://www.econbiz.de/10005822686

Inventories, Employment and Hours

Galeotti, Marzio; Maccini, Louis J.; Schiantarelli, Fabio - Institute for the Study of Labor (IZA) - 2002

The purpose of this paper is to develop a model that integrates inventory and labor decisions. We extend a model of inventory behavior to include a detailed specification of the role of labor input in the production process and of the costs associated with it. In particular, we distinguish...

Persistent link: https://www.econbiz.de/10005703129

The Political Resource Curse

Brollo, Fernanda; Nannicini, Tommaso; Perotti, Roberto; … - Institute for the Study of Labor (IZA) - 2010

politicians, both with theory and data. The theory is based on a version of the career concerns model of political agency with … implications of the theory and identify the causal effect of larger federal transfers on political corruption and the observed … features of political candidates at the municipal level. In accordance with the predictions of the theory, we find that larger …

Persistent link: https://www.econbiz.de/10008543258

Input versus Output Taxation in an Experimental International Economy

Riedl, Arno; van Winden, Frans - Institute for the Study of Labor (IZA) - 2004

This paper is concerned with a policy oriented macroeconomic experiment involving an 'international' economy with a relatively small 'home' country and a large 'foreign' country. It compares the economic performance of two alternative tax systems as a means to finance unemployment benefits: a...

Persistent link: https://www.econbiz.de/10005822243

Brain Gain: Claims about Its Size and Impact on Welfare and Growth Are Greatly Exaggerated

Schiff, Maurice - Institute for the Study of Labor (IZA) - 2005

Based on static partial equilibrium analysis, the "new brain drain" literature argues that, by raising the return to education, a brain drain generates a brain gain that is, under certain conditions, larger than the brain drain itself, and that such a net brain gain results in an increase in...

Persistent link: https://www.econbiz.de/10005233894

Trust in Public Institutions over the Business Cycle

Stevenson, Betsey; Wolfers, Justin - Institute for the Study of Labor (IZA) - 2011

We document that trust in public institutions – and particularly trust in banks, business and government – has declined over recent years. U.S. time series evidence suggests that this partly reflects the pro-cyclical nature of trust in institutions. Cross-country comparisons reveal a clear...

Persistent link: https://www.econbiz.de/10008868129

From Riches to Rags, and Back? Institutional Change, Financial Development and Economic Growth in Argentina since the 1890s

Campos, Nauro F; Karanasos, Menelaos G.; Tan, Bin - Institute for the Study of Labor (IZA) - 2014

Argentina is the only country in the world that was "developed" in 1900 and "developing" in 2000. The various competing explanations highlight, mainly, the roles of trade openness, political institutions, financial integration, financial development, and macroeconomic instability. Yet no study...

Persistent link: https://www.econbiz.de/10011095511

Growth, Volatility and Political Instability: Non-Linear Time-Series Evidence for Argentina, 1896-2000

Campos, Nauro F.; Karanasos, Menelaos - Institute for the Study of Labor (IZA) - 2007

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 time series data for Argentina from 1896 to 2000. We show...

Persistent link: https://www.econbiz.de/10005761766

Reform Redux: Measurement, Determinants and Reversals

Campos, Nauro F.; Horváth, Roman - Institute for the Study of Labor (IZA) - 2006

We construct objective measures of privatization, internal and external liberalization reform efforts, across countries over time, and investigate their determinants, reversals and macroeconomic impacts. We find that GDP growth determines external liberalization and privatization, concentration...

Persistent link: https://www.econbiz.de/10005822778