Showing 1 - 10 of 867
Recent theoretical contributions depart from the usual practice of treating individual attitude endowments as a black box, by assuming that these are shaped by the attitudes of parents and other role models. Attitudes include fundamental preferences such as risk preference, and crucial beliefs...
Persistent link: https://www.econbiz.de/10010264365
countries, but the effect on aggregate variables remains disputed. Using data for hourly nominal wages, we explore the existence … of DNWR on wages at the industry level in 19 OECD countries, over the period 1973-1999. Based on a novel method, we …
Persistent link: https://www.econbiz.de/10010264139
Politicians seeking reelection need voters to know what they have done for them. Thus, incentives may arise to spend more money where media coverage is higher. We present a simple model to explain the allocation of public spending across jurisdictions contingent on media activity. An incumbent...
Persistent link: https://www.econbiz.de/10010264514
We consider a mean-variance general equilibrium economy where the expected returns for controlling and non-controlling shareholders are different because the former are able to divert a fraction of the profits. We find that when investor protection is poor, asset return correlation affects...
Persistent link: https://www.econbiz.de/10010261366
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
strength matter for consistent estimation of risk premia and subsequent inference, thus an estimate of factor strength is …
Persistent link: https://www.econbiz.de/10013239328
U3, the official unemployment rate, is an inadequate gauge of labor-market slack and the extent to which it misinforms varies substantially over the business cycle. The U6 unemployment rate is usually about 4 percentage points above U3. However, during the Great Recession it exceeded U3 by 7...
Persistent link: https://www.econbiz.de/10012859048
inequality. Using rich matched employer-employee data from Norway, we find that profit-shifting firms pay higher wages …. CEOs particularly gain, with their wages rising nearly 10%. These results thus suggest that profit shifting by …-of-the-envelope calculations suggest these higher wages would generate additional income tax revenues which would offset around 3% of the fall in …
Persistent link: https://www.econbiz.de/10013299336
downward rigidity of real wages in OECD countries overall, as well as for regions and time periods. There is some evidence that …
Persistent link: https://www.econbiz.de/10010264120
time, the model predicts that foreign investors deduct the economic value of learning from wages of inexperienced workers …
Persistent link: https://www.econbiz.de/10010264239