Narrow search
Showing 1 - 10 of 830
Cover Image
World Equity Premium Based Risk Aversion Estimates
Pozzi, Lorenzo - 2013
The equity premium puzzle holds that the coefficient of relative risk aversion estimated from the consumption based CAPM under power utility is excessively high. Moreover, estimates in the literature vary considerably across countries. We gauge the uncertainty pertaining to the country risk...
Persistent link: https://www.econbiz.de/10013094420
Cover Image
Firms' Exports, Volatility and Skills : Evidence from France
Bas, Maria - 2019
’ export activity and job stability across employment skills. Relying on detailed firm-level data from France for the period …
Persistent link: https://www.econbiz.de/10012892069
Cover Image
Mimic Models, Cointegration and Error Correction : An Application to the French Shadow Economy
Buehn, Andreas; Schneider, Friedrich - 2021
short run dynamics, thereby retaining information for the long run. Using France as our example, we demonstrate that this …
Persistent link: https://www.econbiz.de/10013316608
Cover Image
Techies and Firm Level Productivity
Harrigan, James; Reshef, Ariell; Toubal, Farid - 2023
We study the impact of techies—engineers and other technically trained workers—on firm-level productivity. We first report new facts on the role of techies in the firm by leveraging French administrative data and unique surveys. Techies are STEM-skill intensive and are associated with...
Persistent link: https://www.econbiz.de/10014348039
Cover Image
Remittances, banking status and the usage of insurance schemes
Crayen, Dorothee; Hainz, Christa; Ströh de Martínez, … - 2010
can be used to self-insure, substituting for both formal and informal insurance. We investigate this question using a … remittances, which supports the idea that remittances act as (self-) insurance. We also show that purchasing formal funeral cover … is influenced by other risk management strategies and that determinants of informal insurance differ from those of formal …
Persistent link: https://www.econbiz.de/10010270469
Cover Image
Minority voting and long-term decisions
Gersbach, Hans; Fahrenberger, Theresa - 2008
In this paper we propose minority voting as a scheme that can partially protect individuals from the risk of repeated exploitation. We consider a committee that meets twice to decide about projects where the first-period project may have a long-lasting impact. In the first period a simple open...
Persistent link: https://www.econbiz.de/10010264290
Cover Image
Discounting the long-distant future: a simple explanation for the Weitzman-Gollier-puzzle
Buchholz, Wolfgang; Schumacher, Jan - 2008
In this paper, we reconsider the debate on Weitzman's (1998) suggestion to discount the long-run future at the lowest possible rate, referring to Gollier (2004) and Hepburn & Groom (2007). We show that, while Weitzman's use of the present value approach may indeed seem questionable, its outcome,...
Persistent link: https://www.econbiz.de/10010264404
Cover Image
How changing prudence and risk aversion affect optimal saving
Bauer, Christian; Buchholz, Wolfgang - 2008
We show how optimal saving in a two-period model is affected when prudence and risk aversion of the underlying utility function change. Increasing prudence alone will induce higher savings only if, for certain combinations of the interest rate and the pure time discount rate, there is...
Persistent link: https://www.econbiz.de/10010264467
Cover Image
Apportioning of risks via stochastic dominance
Eeckhoudt, Louis; Schlesinger, Harris; Tsetlin, Ilia - 2008
Consider a simple two-state risk with equal probabilities for the two states. In particular, assume that the random wealth variable Xi dominates Yi via ith-order stochastic dominance for i = M,N. We show that the 50-50 lottery [XN + YM, YN + XM] dominates the lottery [XN + XM, YN + YM] via (N +...
Persistent link: https://www.econbiz.de/10010264492
Cover Image
Reference points and effort provision
Abeler, Johannes; Falk, Armin; Götte, Lorenz; Huffman, … - 2009
A key open question for theories of reference-dependent preferences is what determines the reference point. One candidate is expectations: what people expect could affect how they feel about what actually occurs. In a real-effort experiment, we manipulate the rational expectations of subjects...
Persistent link: https://www.econbiz.de/10010264587