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Financial Crisis and the Paradox of Under- and Over-Regulation

Aizenman, Joshua - 2009

This paper illustrates the paradox of prudential under-regulation in an economy that adopts financial reform, a reform … probability of the crisis is updated sequentially applying Bayesian inference. Costly regulation can mitigate the probability of … the crisis. We identify conditions where the regulation level supported by the majority is positive after the reform, but …

Persistent link: https://www.econbiz.de/10012463631

The Euro and the global crises : finding the balance between short term stabilization and forward looking reforms

Aizenman, Joshua - 2012

This paper analyzes reforms and adjustments in the context of the Euro and the global financial crises. Taking the perspective of the evolutionary approach to institutions, the formation of a new currency area is not unidirectional. The process leading to the euro is an example of a common...

Persistent link: https://www.econbiz.de/10012460521

International Evidence on Vaccines and the Mortality to Infections Ratio

Aizenman, Joshua; Cukierman, Alex; Jinjarak, Yothin; … - National Bureau of Economic Research - 2021

Recent observations on countries like the UK that have accumulated a large fraction of inoculated individuals suggest that, although initially, vaccines have little effect on new infections they strongly reduce the share of mortality out of a given pool of infections. This paper examines the...

Persistent link: https://www.econbiz.de/10012696407

Optimal Wage Re-Negotiation

Aizenman, Joshua - 1984

This paper investigates an economy in which there are short-term wage contracts that are re-negotiated under certain conditions. This paper determines the optimal frequency of wage re-negotiation and shows that it depends positively on measures of aggregate variability and Phillips curve slope....

Persistent link: https://www.econbiz.de/10012477817

Wages, Experience and Training of Women over the Lifecycle

Blundell, Richard - 2019

We investigate the role of training in reducing the gender wage gap using the UK-BHPS which contains detailed records of training. Using policy changes over an 18 year period we identify the impact of training and work experience on wages, earnings and employment. Based on a lifecycle model and...

Persistent link: https://www.econbiz.de/10012479726

Changes in Assortative Matching and Inequality in Income : Evidence for the UK

Chiappori, Pierre-André - 2020

The extent to which like-with like marry is important for inequality as well as for the outcomes of children that result from the union. In this paper we present evidence on changes in assortative mating and its implications for household inequality in the UK. Our approach contrasts with others...

Persistent link: https://www.econbiz.de/10012481891

The Marriage Market, Labor Supply and Education Choice

Chiappori, Pierré-Andre - 2015

We develop an equilibrium lifecycle model of education, marriage and labor supply and consumption in a transferable utility context. Individuals start by choosing their investments in education anticipating returns in the marriage market and the labor market. They then match based on the...

Persistent link: https://www.econbiz.de/10012457593

Female Labour Supply, Human Capital and Welfare Reform

Blundell, Richard - 2013

We estimate a dynamic model of employment, human capital accumulation - including education, and savings for women in the UK, exploiting tax and benefit reforms, and use it to analyze the effects of welfare policy. We find substantial elasticities for labor supply and particularly for lone...

Persistent link: https://www.econbiz.de/10012459655

Why do emerging markets liberalize capital outflow controls? Fiscal versus net capital flow concerns

Aizenman, Joshua - 2013

In this paper, we provide empirical evidence on the factors that motivated emerging economies to change their capital outflow controls in the recent decades. Liberalization of capital outflow controls can allow emerging market economies (EMEs) to reduce net capital inflow (NKI) pressures, but...

Persistent link: https://www.econbiz.de/10012459782