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Longevity Shocks with Age-Dependent Productivity Growth
Heijdra, Ben J. - 2015
The aim of this paper is to study the long-run effects of a longevity increase on individual decisions about education and retirement, taking macroeconomic repercussions through endogenous factor prices and the pension system into account. We build a model of a closed economy inhabited by...
Persistent link: https://www.econbiz.de/10013021702
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The Design of Pension Pay Out Options When the Health Status During Retirement is Uncertain
Kifmann, Mathias - 2021
This paper examines the optimal design of pension plans when the health status during retirement is uncertain. Assuming that the health status affects both life expectancy and the marginal utility of consumption, choice between a lump-sum payment and an annuity can be welfare-enhancing if the...
Persistent link: https://www.econbiz.de/10013316589
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Spatial and Temporal Diffusion of House Prices in the UK
Holly, Sean - 2013
effect of shocks using generalised spatio-temporal impulse responses. These highlight the diffusion of shocks both over time …
Persistent link: https://www.econbiz.de/10013095156
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Seasonality in Smoking Behaviour : Re-Evaluating the Effects of the 2005 Public Smoking Ban in Italy
Bono, Emilia Del; Grünberger, Klaus; Vuri, Daniela - 2021
This paper investigates the impact of the public smoking ban which came into effect in Italy on January 2005 on individual smoking behaviour. Current empirical evidence supports the existence of a negative effect of the Italian ban on smoking prevalence and consumption in the general population....
Persistent link: https://www.econbiz.de/10013315560
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Banking Crises and Crisis Dating : Theory and Evidence
Boyd, John H.; De Nicolo, Gianni; Loukoianova, Elena - 2021
We formulate a simple theoretical model of a banking industry that we use to identify and construct theory … systemic bank shock (SBS). We argue that disentangling the effects of systemic bank shocks and policy responses is crucial in …
Persistent link: https://www.econbiz.de/10013316186
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Forty Years of Oil Price Fluctuations : Why the Price of Oil May Still Surprise Us
Baumeister, Christiane - 2016
It has been forty years since the oil crisis of 1973/74. This crisis has been one of the defining economic events of the 1970s and has shaped how many economists think about oil price shocks. In recent years, a large literature on the economic determinants of oil price fluctuations has emerged....
Persistent link: https://www.econbiz.de/10012998728
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Paralyzed by Shock : The Portfolio Formation Behavior of Peer-to-Business Lending Investors
Dorfleitner, Gregor - 2019
default shock bias. First, we find that investors stop investing in new loans and cease from diversifying their portfolio after … experiencing a loan default. The default shock significantly worsens the risk-return profile of investors' loan portfolios. The …, but does not reduce the default shock bias. These findings have important implications not only for the behavioral finance …
Persistent link: https://www.econbiz.de/10012899204
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Shift Working and Trade in Labor Services with Time Zone Differences
Kikuchi, Toru - 2011
countries (Home and Foreign) which are located in different time zones, we highlight the impact of trade in labor services (via … the shift-working commodity is held by pairs of countries in different time zones and connected through a good …
Persistent link: https://www.econbiz.de/10013121206
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Social Norms, Cognitive Dissonance and the Timing of Marriage
Balestrino, Alessandro - 2007
We present a model of courtship in which the timing of marriage is affected by the cognitive dissonance between perceived norms and personal aims. We argue that as long as the family has been the main provider of social protection, marriage has been favoured by strongly felt social norms, and...
Persistent link: https://www.econbiz.de/10012776387
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Short Run Gravity
Anderson, James E. - 2017
of 52 countries during the globalization period 1988-2006 strongly supports the model. Results solve several time …
Persistent link: https://www.econbiz.de/10012953690