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The Effects of COVID-19 on U.S. Small Businesses : Evidence from Owners, Managers, and Employees
Alekseev, Georgij; Amer, Safaa; Gopal, Manasa; Kuchler, … - 2021
We analyze a large-scale survey of owners, managers, and employees of small businesses in the United States to …
Persistent link: https://www.econbiz.de/10013315291
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Shocks, Frictions, and Inequality in US Business Cycles
Bayer, Christian - 2020
How much does inequality matter for the business cycle and vice versa? Using a Bayesian likelihood approach, we estimate a heterogeneous-agent New-Keynesian (HANK) model with incomplete markets and portfolio choice between liquid and illiquid assets. The model enlarges the set of shocks and...
Persistent link: https://www.econbiz.de/10012841741
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Will Destination-Based Taxes Be Fully Exploited When Available? An Application to the U.S. Commodity Tax System
Agrawal, David R. - 2019
-level policies that increase tax avoidance opportunities, the results of the empirical model broadly confirm our theory …
Persistent link: https://www.econbiz.de/10012892221
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Non-Linearities and Persistence in US Long-Run Interest Rates
Caporale, Guglielmo Maria; Gil-Alana, Luis A.; … - 2021
This note examines the stochastic behaviour of US monthly 10-year government bond yields. Specifically, it estimates a fractional integration model suitable to capture both persistence and non-linearities, these being two important properties of interest rates. Two series are analysed, one from...
Persistent link: https://www.econbiz.de/10013314848
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The Short and the Long of it : Stock-Flow Matching in the US Housing Market
Smith, Eric; Xie, Zoe; Fang, Lei - 2022
This paper investigates the US housing market from just before the Great Recession onward (2006-2019) and assesses the viability of stock-flow matching in generating the observed outcomes. The paper documents that the probability a house sells declines sharply after listing for two weeks....
Persistent link: https://www.econbiz.de/10014243085
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Selection into Leadership and Dishonest Behavior of Leaders : A Gender Experiment
Grosch, Kerstin - 2020
Leaders often have to weigh ethical against monetary consequences. Such situations may evoke psychological costs from being dishonest and dismissing higher monetary benefits for others. In a within-subjects experiment, we analyze such a dilemma. We first measure individual dishonest behavior...
Persistent link: https://www.econbiz.de/10012824596
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CEO Compensation : Evidence from the Field
Edmans, Alex; Gosling, Tom; Jenter, Dirk - 2021
We survey directors and investors on the objectives, constraints, and determinants of CEO pay. 67% of directors would sacrifice shareholder value to avoid controversy on CEO pay, implying they face significant constraints other than participation and incentive compatibility. These constraints...
Persistent link: https://www.econbiz.de/10013220138
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The Demand for Executive Skills
Hansen, Stephen; Sadun, Raffaella; Ramdas, Tejas; … - 2021
We use a unique corpus of job descriptions for C-suite positions to document skills requirements in top managerial occupations across a large sample of firms. A novel algorithm maps the text of each executive search into six separate skill clusters reflecting cognitive, interpersonal, and...
Persistent link: https://www.econbiz.de/10013222191
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The Market for CEOs
Cziraki, Peter; Jenter, Dirk - 2021
We study the market for CEOs of large publicly-traded US firms, analyze new CEOs’ prior connections to the hiring firm, and explore how hiring choices are determined. Firms are hiring from a surprisingly small pool of candidates. More than 80% of new CEOs are insiders, defined as current or...
Persistent link: https://www.econbiz.de/10013222199
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Discrimination, Managers, and Firm Performance : Evidence from "Aryanizations" in Nazi Germany
Huber, Kilian; Lindenthal, Volker; Waldinger, Fabian - 2021
Large-scale increases in discrimination can lead to dismissals of highly qualified managers. We investigate how … expulsions of senior Jewish managers, due to rising discrimination in Nazi Germany, affected large corporations. Firms that lost … Jewish managers experienced persistent reductions in stock prices, dividends, and returns on assets. Aggregate market value …
Persistent link: https://www.econbiz.de/10013314854