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Marriage and Employment Participation with Wage Bargaining in Search Equilibrium
Bonilla, Roberto - 2017
. A worker's bargaining position reflects their own productivity, and also the employment status and conditions of their …
Persistent link: https://www.econbiz.de/10012951689
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Market Transparency and Fragility
Cespa, Giovanni - 2019
We show that dealers' limited market participation, coupled with an informational friction resulting from lack of market transparency, can make liquidity demand upward sloping, inducing strategic complementarities: traders demand more liquidity when the market becomes less liquid, fostering...
Persistent link: https://www.econbiz.de/10012902334
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Reputational Herding in Financial Markets : A Laboratory Experiment
Roider, Andreas - 2015
employers. Employers can observe investment behavior, but not investors' ability types. Thereby, reputational incentives may … are no reputational incentives. In a setting where there are reputational concerns, they do not seem to create substantial …
Persistent link: https://www.econbiz.de/10013029493
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Predictability of Asset Returns and the Efficient Market Hypothesis
Pesaran, M. Hashem - 2010
This paper is concerned with empirical and theoretical basis of the Efficient Market Hypothesis (EMH). The paper begins with an overview of the statistical properties of asset returns at different frequencies (daily, weekly and monthly), and considers the evidence on return predictability, risk...
Persistent link: https://www.econbiz.de/10013141185
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Shall We Keep the Highly Skilled at Home? The Optimal Income Tax Perspective
Simula, Laurent - 2011
interaction between the incentive-compatibility and participations constraints may cause countervailing incentives. In important …
Persistent link: https://www.econbiz.de/10013130418
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Climate Effects of Carbon Taxes, Taking into Account Possible Other Future Climate Measures
Habermacher, Florian - 2013
The increase of fuel extraction costs as well as of temperature will make it likely that in the medium-term future technological or political measures against global warming may be implemented. In assessments of a current climate policy the possibility of medium-term future developments like...
Persistent link: https://www.econbiz.de/10013093629
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Opting-In to Prosocial Incentives
Schwartz, Daniel - 2018
Prior work has demonstrated that prosocial incentives – where individuals' effort benefits a charitable organization … – can be more effective than standard incentives, particularly when the stakes are low. Yet, little is known about the … effectiveness of prosocial incentives on people's decisions to participate or opt-in to the incentivized activity in the first place …
Persistent link: https://www.econbiz.de/10012926542
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Implicit vs. Explicit Incentives : Theory and a Case Study
Demougin, Dominique - 2009
We derive the optimal contract between a principal and a liquidity-constrained agent in a stochastically repeated environment. The contract comprises a court-enforceable explicit bonus rule and an implicit fixed salary promise that must be self-enforcing. Since the agent's rent increases with...
Persistent link: https://www.econbiz.de/10013159705
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Yardstick Competition, Corruption, and Electoral Incentives
Van Long, Ngo - 2008
This paper investigates the relationship between electoral incentives, institutions and corruption. We assume that …. Under relative performance evaluation, dynamic incentives impose more restriction on rent appropriation in comparison to the …
Persistent link: https://www.econbiz.de/10012771407
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A Theory of Tax Avoidance -- Managerial Incentives for Tax Planning in a Multi-Task Principal-Agent Model
Ewert, Ralf - 2014
We derive determinants of tax avoidance by means of a multi-task principal-agent model. We extend prevailing models by integrating both corporate and individual income taxation as well as by including tax planning effort in the agent's action portfolio. Our model shows novel and apparently...
Persistent link: https://www.econbiz.de/10013051278