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Real Options and Human Capital Investment

Jacobs, Bas - 2007

This paper extends the standard human capital model with real options. Real options influence investment behavior when risky investments in human capital are irreversible and individuals can affect the timing of the investment. Option values make individuals more reluctant to invest in human...

Persistent link: https://www.econbiz.de/10012776903

Land Collateral and Labor Market Dynamics in France

Kaas, Leo; Pintus, Patrick A.; Ray, Simon - CESifo - 2014

The value of land in the balance sheet of French firms correlates positively with their hiring and investment flows. To explore the relationship between these variables, we develop a macroeconomic model with firms that are subject to both credit and labor market frictions. The value of...

Persistent link: https://www.econbiz.de/10010948812

No Guarantees, No Trade: How Banks Affect Export Patterns

Niepmann, Friederike; Schmidt-Eisenlohr, Tim - CESifo - 2014

This study provides evidence that shocks to the supply of trade finance have a causal effect on U.S. exports. The identification strategy exploits variation in the importance of banks as providers of letters of credit across countries. The larger a U.S. bank’s share of the trade finance market...

Persistent link: https://www.econbiz.de/10010948822

Pareto Improvement through Unilateral Matching of Public Good Contributions: The Role of Commitment

Buchholz, Wolfgang; Cornes, Richard; Peters, Wolfgang; … - CESifo - 2014

When providing public goods through voluntary contributions, a donor may introduce unilateral matching in order to … reduce underprovision of the public good and thus inefficiency. By itself, however, matching benefits the donor but harms the …

Persistent link: https://www.econbiz.de/10010877815

Households, Markets and Public Choice

Gersbach, Hans; Haller, Hans - CESifo - 2014

favorable conditions for matching on the one hand, and for global collective decisions on the other hand. We establish …

Persistent link: https://www.econbiz.de/10010889986

Regional Equilibrium Unemployment Theory at the Age of the Internet

Lutgen, Vanessa; Linden, Bruno Van der - CESifo - 2015

This paper studies equilibrium unemployment in a two-region economy with matching frictions, where workers and jobs are …. Search-matching externalities are amplified by the latter possibility and by the fact that some workers can simultaneously … receive a job offer from each region. The rest of the framework builds upon Moretti (2011). Increasing the matching …

Persistent link: https://www.econbiz.de/10011272629

Wages, Rents, Unemployment, and the Quality of Life

Wrede, Matthias - CESifo - 2012

Combining a spatial equilibrium model with a matching unemployment model, this paper analyzes the regional quality of …

Persistent link: https://www.econbiz.de/10010546957

Flipping a Coin: Theory and Evidence

Dwenger, Nadja; Kübler, Dorothea; Weizsäcker, Georg - CESifo - 2014

We investigate the possibility that a decision-maker prefers to avoid making a decision and instead delegates it to an external device, e.g., a coin flip. In a series of experiments the participants often choose lotteries between allocations, which contradicts most theories of choice such as...

Persistent link: https://www.econbiz.de/10010757728

The Effect of Firms' Partial Retirement Policies on the Labour Market Outcomes of their Employees

Huber, Martin; Lechner, Michael; Wunsch, Conny - CESifo - 2013

In this paper, we assess the impact of firms introducing part-time work schemes for gradual labour market exit of elderly workers on their employees’ labour market outcomes. The analysis is based on unique linked employer-employee data that combine high-quality survey and administrative data....

Persistent link: https://www.econbiz.de/10010681219

Endogeneous Matching in University-Industry Collaboration: Theory and Empirical Evidence from the UK

Banal-Estañol, Albert; Macho-Stadler, Ines; … - CESifo - 2013

We develop a two-sided matching model to analyze collaboration between heterogeneous academics and firms. We predict a … positive assortative matching in terms of both scientific ability and affinity for type of research, but negative assortative …

Persistent link: https://www.econbiz.de/10010681221