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Imperfect Information, Lagged Labor Adjustment and the Great Moderation
Willems, Tim; Wijnbergen, Sweder van - Tinbergen Institute - 2009
This paper first documents the increase in the time lag with which labor input reacts to output fluctuations ("the labor adjustment lag") that is visible in US data since the mid-1980s. We show that a lagged labor adjustment response is optimal in a setting where there is uncertainty about the...
Persistent link: https://www.econbiz.de/10004964451
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Simultaneous Search with Heterogeneous Firms and Ex Post Competition
Gautier, Pieter A.; Wolthoff, Ronald P. - Tinbergen Institute - 2006
In this paper we study the allocation of workers over high and low productivity firms in a labor market with coordination frictions. Specifically, we consider a search model where workers can apply to high and or low productivity firms. Firms that compete for the same candidate can increase...
Persistent link: https://www.econbiz.de/10005042233
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Continuous-Time Modelling with Spatial Dependence
Oud, Johan H.L.; Folmer, Henk; Patuelli, Roberto; … - Tinbergen Institute - 2011
(Spatial) panel data are routinely modelled in discrete time (DT). However, there are compelling arguments for continuous time (CT) modelling of (spatial) panel data. Particularly, most social processes evolve in CT, so that statistical analysis in DT is an oversimplification, gives an...
Persistent link: https://www.econbiz.de/10009201135
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The Value of Human and Social Capital Investments for the Business Performance of Start-ups
Bosma, Niels; Praag, Mirjam van; Thurik, Roy; Wit, Gerrit de - Tinbergen Institute - 2002
We investigate the manifold posed question: To what extent does investment in human and social capital, besides the effect of talent, enhance entrepreneurial performance? We distinguish between three different performance measures: survival, profits, and generated employment. On the basis of the...
Persistent link: https://www.econbiz.de/10005450787
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I can't get no Satisfaction - Necessity Entrepreneurship and Procedural Utility
Block, Joern; Koellinger, Philipp - Tinbergen Institute - 2008
self-reported satisfaction regarding their start-up. Our study identifies a new facet of procedural utility and offers new … entrepreneurs that “cannot get satisfaction” with their start-up—not because their start-up fails to deliver financial returns, but …-financial incentives of entrepreneurs. While financial success is the most important determinant of start-up satisfaction, achievement of …
Persistent link: https://www.econbiz.de/10005137385
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Level-Slope-Curvature - Fact or Artefact?
Lord, Roger; Pelsser, Antoon - Tinbergen Institute - 2005
The first three factors resulting from a principal components analysis of term structure data are in the literature typically interpreted as driving the level, slope and curvature of the term structure. Using slight generalisations of theorems from total positivity, we present sufficient...
Persistent link: https://www.econbiz.de/10005144421
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A Multi-Scenario Forecast of Urban Change: A Study on Urban Growth in the Algarve
Vaz, Eric de Noronha; Nijkamp, Peter; Painho, Marco; … - Tinbergen Institute - 2011
The Algarve region in Portugal is often considered as one of the most appealing regions for tourism in the country. Its attractive location and moderate climate have since the mid-1960s brought increasing economic prosperity. As a result of the development of mass tourism, available land-use...
Persistent link: https://www.econbiz.de/10009321848
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The Effects of Learning in Interactive Monetary Policy Committees
Berk, Jan Marc; Bierut, Beata K. - Tinbergen Institute - 2004
We develop a theoretical framework for studying the effects of interaction on the quaJity of decision-making by monetary policy committees. We show that interaction, i.e. increasing one's expertise through an exchange of views, is most likely not to result in interdependent voting...
Persistent link: https://www.econbiz.de/10005209499
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Is Transparency to no avail? Committee Decision-making, Pre-meetings, and Credible Deals
Swank, Otto H.; Visser, Bauke - Tinbergen Institute - 2007
Transparent decision-making processes are widely regarded as a prerequisite for the working of a representative democracy. It facilitates accountability, and citizens may suspect that decisions, if taken behind closed doors, do not promote their interests. Why else the secrecy? We provide a...
Persistent link: https://www.econbiz.de/10005144398
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The Outflow Ranking Method for Weighted Directed Graphs
Brink, René van den; Gilles, Robert P. - Tinbergen Institute
A ranking method assigns to every weighted directed graph a (weak) ordering
Persistent link: https://www.econbiz.de/10005144488