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Fixed-Term Contracts and the Duration Distribution of Unemployment
Güell, Maia - C.E.P.R. Discussion Papers - 2002
In the mid-1980s, many European countries introduced fixed-term contracts. Since then their labour markets have become more dynamic. This Paper studies the implications of such reforms for the duration distribution of unemployment, with particular emphasis on the changes in the duration...
Persistent link: https://www.econbiz.de/10005123695
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The Effects of Globalization on Worker Training
Gersbach, Hans; Schmutzler, Armin - C.E.P.R. Discussion Papers - 2005
We examine how globalization affects firms’ incentives to provide general worker training. We consider a three-stage game. In stage 1, firms invest in productivity-enhancing training. In stage 2, they can make wage offers for each others’ workers. Finally, Cournot competition takes place....
Persistent link: https://www.econbiz.de/10005124275
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Momentum and Turnover: Evidence from the German Stock Market
Glaser, Markus; Weber, Martin - C.E.P.R. Discussion Papers - 2002
previous three to 12 months and sell stocks with low returns over the same period) and turnover (number of shares traded … more profitable among high-turnover stocks. In contrast to US evidence, this result is driven mainly by winners: high-turnover … winners have higher returns than low-turnover winners. We present various robustness checks, long-horizon results, evidence on …
Persistent link: https://www.econbiz.de/10005136650
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A Product Market Theory of Worker Training
Gersbach, Hans; Schmutzler, Armin - C.E.P.R. Discussion Papers - 2003
We develop a product market theory that explains why firms invest in general training of their workers. We consider a model where firms first decide whether to invest in general human capital, then make wage offers for each other’s trained employees and finally engage in imperfect product...
Persistent link: https://www.econbiz.de/10005498011
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Bureaucracy as a Mechanism to Generate Information
Novaes, Walter; Zingales, Luigi - C.E.P.R. Discussion Papers - 2003
managerial turnover, and it establishes a link between bureaucracy, incentive schemes, and leverage in a cross-section of firms. …
Persistent link: https://www.econbiz.de/10005504447
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Men at Work in a Land Down-under
Booth, Alison; Katic, Pamela - Research School of Economics, College of Business and … - 2008
We use new training data from waves 3-6 of the Household, Income and Labour Dynamics in Australia Survey to investigate the training and wages of full-time men. We explore the extent to which the data are consistent with the predictions of human capital theory or with recent alternative theories...
Persistent link: https://www.econbiz.de/10004971374
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Cooperation, Harassment, and Involuntary Unemployment: An Insider-Outsider Approach
Lindbeck, Assar; Snower, Dennis J. - C.E.P.R. Discussion Papers - 1987
wages of the underbidders. The resulting labor turnover costs create economic rent which the insiders tap in wage …
Persistent link: https://www.econbiz.de/10005791249
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Skewness in Stock Returns, Periodic Cash Payouts, and Investor Heterogeneity
Albuquerque, Rui - C.E.P.R. Discussion Papers - 2009
This paper analyzes the asset pricing implications of periodic cash payouts within the context of a stationary rational expectations model with heterogeneous investors. The periodicity of cash payouts provides a natural motivation for time-varying conditional volatility in stock returns. I show...
Persistent link: https://www.econbiz.de/10008491716
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Do Funds Make More When They Trade More?
Pastor, Lubos; Stambaugh, Robert F.; Taylor, Lucian - C.E.P.R. Discussion Papers - 2014
We find that active mutual funds perform better after trading more. This time-series relation between a fund’s turnover … to scale, we find evidence of industry-level decreasing returns: The positive turnover-performance relation weakens when …
Persistent link: https://www.econbiz.de/10011083863
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Getting Better or Feeling Better? How Equity Investors Respond to Investment Experience
Campbell, John Y; Ramadorai, Tarun; Ranish, Benjamin - C.E.P.R. Discussion Papers - 2014
investment performance. High trading profits increase turnover, while high returns to equity styles have a short-term negative … Indian stocks with an experienced and low-turnover investor base. …
Persistent link: https://www.econbiz.de/10011084250