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We use a static framework characterized by both moral hazard and holdup problems. In the model the optimal allocation of bargaining power balances these frictions. We examine the impact of improved monitoring on that optimal allocation and its impact upon effort, investment, profits and rents....
Persistent link: https://www.econbiz.de/10005858082
We compare the effect of legal and institutional competition for the design of labor institutions in an environment characterized by holdup problems in human and physical capital. We compare autarky with the two country case, assuming that capital is perfectly mobile and labor immobile. We...
Persistent link: https://www.econbiz.de/10005858086
Using an administrative data set containing daily information on individual workers' employment histories, we investigate how workers' labour market transitions are affected by international outsourcing. In order to do so, we estimate hazard rate models for match separations, as well as for...
Persistent link: https://www.econbiz.de/10005860576
Berufsanfängern und vormalig Beschäftigten einen alternativen Weg in den Arbeitsmarkt. Der vorliegende Aufsatz analysiert die … Arbeitsmarkt. Sinkende Löhne bei steigenden Beschäftigungsanteilen deuten auf eine Ventilfunktion für den regulären Arbeitsmarkt …
Persistent link: https://www.econbiz.de/10005861877
, which ignore certain sources of uncertainty, may yield misleadingly sure predictions. Totest the forecast ability of our …
Persistent link: https://www.econbiz.de/10005860485
to forecast nonlinear ARMA model based simulated data and real data of financial returns. The forecasting ability of the … focus on fit in-sample, but SVR considers both fit and forecast out-of-sample which endows SVR with an excellent forecasting …
Persistent link: https://www.econbiz.de/10005860490
Measuring and modeling financial volatility is the key to derivative pricing, asset allocation and risk management. The recent availability of high-frequency data allows for refined methods in this field. In particular, more precise measures for the daily or lower frequency volatility can be...
Persistent link: https://www.econbiz.de/10005860514
Stock picking is the field of financial analysis that is of particular interest for many professional investors and researchers. In this study stock picking is implemented via binary classification trees. Optimal tree size is believed to be the crucial factor in forecasting performance of the...
Persistent link: https://www.econbiz.de/10005860532
approach over different forecast horizons. We find that sales comparison values provide better long-term forecaststhan cost …
Persistent link: https://www.econbiz.de/10005860577
employ autoregressive models (AR) to forecast principal components which, in turn, are used to forecast swap rates. Arguing …. To evaluate ex-ante forecastingperformance for particular rates, different forecast features such as mean squared errors … offers additional forecast accuracy in terms of directional accuracy and big hit ability. …
Persistent link: https://www.econbiz.de/10005860579