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Decomposing Portfolio Value-at-Risk: A General Analysis
Hallerbach, Winfried G. - Tinbergen Instituut - 1999
orhistorical and Monte Carlo simulation methods. Although these approaches to overall VaR estimation have receivedsubstantial … proposed estimation approach pairs intuitiveappeal with computational efficiency. We evaluate various alternative estimation …
Persistent link: https://www.econbiz.de/10011256282
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Empirical Relevance of the Hillman Condition and Comparative Advantage
Hinloopen, Jeroen; Marrewijk, Charles van - Tinbergen Instituut - 2004
We analyze the empirical violation of the Hillman condition, a necessary and sufficient condition for the correspondence between comparative advantage and pre-trade relative prices. Our comprehensive data set allows us to investigate the Hillman condition for virtually all countries of the...
Persistent link: https://www.econbiz.de/10011257587
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Investor Sentiment and Employment
Montone, Maurizio; Zwinkels, Remco C.J. - Tinbergen Instituut - 2015
worldwide; (2) lower labor productivity, as the growth in employment is not matched by real value added growth; and (3) positive …
Persistent link: https://www.econbiz.de/10011255878
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Monitoring your Friends, not your Foes: Strategic Ignorance and the Delegation of Real Authority
Martinez, Silvia Dominguez; Sloof, Randolph; Siemens, … - Tinbergen Instituut - 2010
This discussion paper resulted in an article in 'Games and Economic Behavior' (2014). Volume 85, pages 289-305.<P> In this laboratory experiment we study the use of strategic ignorance to delegate real authority within a firm. A worker can gather information on investment projects, while a manager...</p>
Persistent link: https://www.econbiz.de/10011256411
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How Large are Search Frictions?
Gautier, Pieter A.; Teulings, Coen N. - Tinbergen Instituut - 2003
This paper shows that we can normalize job and worker characteristics so that, without frictions,there exists a linear relationship between wages on the one hand and worker and job type indiceson the other. However, for five European countries and the United States we find strong evidencefor a...
Persistent link: https://www.econbiz.de/10011256697
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Spatial Heterogeneity and the Wage Curve revisited
Longhi, Simonetta; Nijkamp, Peter; Poot, Jacques - Tinbergen Instituut - 2004
with other regions. These hypotheses are confirmed by means of an estimation of wage curves with data for 327 regions of …
Persistent link: https://www.econbiz.de/10011256886
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An Empirical Measure for Labor Market Density
Gautier, Pieter A.; Teulings, Coen N. - Tinbergen Instituut - 2000
In this paper we derive a structural measure for labor market density based on the Ellison and Glasear (1997) "Index for industry concentration". This labor market density measure serves as a proxy for the number of workers that can reach a certain work area within a reasonal amount of traveling...
Persistent link: https://www.econbiz.de/10011257204
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Performance and Relative Incentive Pay: The Role of Social Preferences
Hernandez, Pablo; Minor, Dylan B.; Sisak, Dana - Tinbergen Instituut - 2013
Under relative performance pay, other-regarding workers internalize the negative externality they impose on other workers. In one form -increased own effort reduces others' payoffs- this results in other-regarding individuals depressing efforts. In another form punishment reduces the payoff of...
Persistent link: https://www.econbiz.de/10011257464
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Family Background Variables as Instruments for Education in Income Regressions: A Bayesian Analysis
Hoogerheide, Lennart; Block, Joern H.; Thurik, Roy - Tinbergen Instituut - 2010
of the strong validity assumption affect the estimation results. We show that, in case of moderate direct effects of the …
Persistent link: https://www.econbiz.de/10011257613
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Commuters' Preferences for Fast and Reliable Travel
Koster, Paul; Koster, Hans - Tinbergen Instituut - 2013
We employ a semi-parametric estimation approach to analyse observed and unobserved heterogeneity in the value of … savings in travel time and schedule delay. Our econometric approach allows for the estimation of unobserved and observed …, we illustrate the estimation approach and find that there is substantial heterogeneity in the value of savings in travel …
Persistent link: https://www.econbiz.de/10011271951