Showing 1 - 10 of 108
Many scholars have argued that once “basic needs” have been met, higher income is no longer associated with higher in subjective well-being. We assess the validity of this claim in comparisons of both rich and poor countries, and also of rich and poor people within a country. Analyzing...
Persistent link: https://www.econbiz.de/10014157982
This study experimentally analyses traders' choices, with and without asymmetric information, based on the riding-bubble model. While asymmetric information has been necessary to explain a bubble in past theoretical models, our experiments show that traders have an incentive to hold a bubble...
Persistent link: https://www.econbiz.de/10012965451
Using sector-level survey data for the universe of Japanese firms, we establish the positive co-movement in the firm’s expectations about aggregate and sector-specific demand shocks. We show that a simple model with imperfect information on the current aggregate and sector-specific components...
Persistent link: https://www.econbiz.de/10013241100
Attempts by governments to stop bubbles by issuing warnings seem unsuccessful. This paper examines the effects of public warnings using a simple model of riding bubbles. We show that public warnings against a bubble can stop it if investors believe that a warning is issued in a definite range of...
Persistent link: https://www.econbiz.de/10013060850
Progress in closing differences in many objective outcomes for blacks relative to whites has slowed, and even worsened, over the past three decades. However, over this period the racial gap in well-being has shrunk. In the early 1970s data revealed much lower levels of subjective well-being...
Persistent link: https://www.econbiz.de/10014155539
We investigate if greater electricity availability helps countries ascend to faster economic growth trajectories. This is an important question for many developing countries that are currently prioritizing infrastructure investments. Using cross-sectional and panel regressions with...
Persistent link: https://www.econbiz.de/10014113073
Shocks to net migration matter for the business cycles of some countries. Using an estimated dynamic stochastic general equilibrium (DSGE) model of a small open economy and a structural vector autoregression, we find that migration shocks account for a considerable proportion of the variability...
Persistent link: https://www.econbiz.de/10014114264
This paper is an examination of adoption of distributed ledgers in financial services. We review more than one hundred initiatives and a large practitioner literature, considering fourteen areas of application and seven case studies, in order to provide both a conceptual analysis of these...
Persistent link: https://www.econbiz.de/10014102024
Recent climate change negotiations have emphasised the need for developing countries to take the lead by undertaking economy-wide absolute emission reduction targets but also the obligation of developed countries to provide financial resources to assist them in their mitigation efforts. This...
Persistent link: https://www.econbiz.de/10013250906
institutions in their long-term growth performance. Using annual data over the period 1981-2014, we employ the Cross …
Persistent link: https://www.econbiz.de/10012963315