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Hyperbolic Discounting and the Phillips Curve

Graham, Liam; Snower, Dennis J. - 2021

Using a standard dynamic general equilibrium model, we show that the interaction of staggered nominal contracts with hyperbolic discounting leads to inflation having significant long-run effects on real variables

Persistent link: https://www.econbiz.de/10013325244

Macroeconomic Policy and Unemployment by Economic Activity : Evidence from Turkey

Berument, Hakan; Dogan, Nukhet; Tansel, Aysit - 2021

This paper investigates how macroeconomic policy shocks in Turkey affect the total unemployment and provides evidence on the differential responses of the unemployment by sectors of economic activity. Our paper extends the previous work in two respects. First, we consider not only the response...

Persistent link: https://www.econbiz.de/10013325254

Household Membership Decisions of Adult Children

Chiuri, Maria Concetta; Del Boca, Daniela - 2021

While several social, economic and financial indicators point to a growing convergence among European countries, striking differences still emerge in the timing of leaving home for adult children. In Southern countries (as Spain, Italy or Portugal) in 2001 more than 70 percent of young adults...

Persistent link: https://www.econbiz.de/10013325111

The Asset Portfolios of Native-Born and Foreign-Born Households

Cobb-Clark, Deborah A.; Hildebrand, Vincent A. - 2021

This paper analyses the net worth and asset portfolios of native- and foreign-born Australian families using HILDA (wave 2) data. Specifically, we estimate a system of asset equations with an adding-up constraint imposed to control for variation in households' total net worth. Our results...

Persistent link: https://www.econbiz.de/10013325161

A Public Good Version of the Collective Household Model : An Empirical Approach with an Application to British Household Data

Klaveren, Chris van; van Praag, B.M.S; Maassen van den … - 2021

In this paper we consider an empirical collective household model of time allocation for two-earner households. The … novelty of this paper is that we estimate a version of the collective household model, where the internally produced goods and … are equally weighted in the household utility function; (3) Differences in the ratio of the partners' hourly wages are …

Persistent link: https://www.econbiz.de/10013325183

Private Wealth and Job Exit at Older Age : A Random Effects Model

Bloemen, Hans - 2021

Private wealth holdings are likely to become an increasingly important determinant in the job exit decision of elderly workers. Net wealth may correlate with worker's characteristics that also determine the exit out of a job. It is therefore important to include a rich set of observed...

Persistent link: https://www.econbiz.de/10013325304

Instrumental Variables in Models with Multiple Outcomes : The General Unordered Case

Heckman, James J.; Urzua, Sergio; Vytlacil, Edward - 2021

This paper develops the method of local instrumental variables for models with multiple, unordered treatments when treatment choice is determined by a nonparametric version of the multinomial choice model. Responses to interventions are permitted to be heterogeneous in a general way and agents...

Persistent link: https://www.econbiz.de/10013325098

Outsourcing and Labor Taxation in Dual Labor Markets

Koskela, Erkki; Poutvaara, Panu - 2021

We evaluate the effects of international outsourcing and labor taxation on wage formation and equilibrium unemployment in dual labor markets. Outsourcing promotes wage dispersion between the high-skilled and low-skilled workers. Higher domestic low-skilled wage tax, higher payroll tax and lower...

Persistent link: https://www.econbiz.de/10013325133

Is the Glass Ceiling Cracking? A Simple Test

Hu, Ting; Yun, Myeong-Su - 2021

Persistent link: https://www.econbiz.de/10013325137

Rule of Law, Institutional Quality and Information

Bruno, Randolph Luca - 2021

The focus of this paper is the analysis of the persistent lawlessness attitude observed in some transition and developing countries where an overall increase in the quality of institutions is recorded. The mechanism of information diffusion on institutional quality is explored using a model...

Persistent link: https://www.econbiz.de/10013325142