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Fire Sales in a Model of Complexity
Caballero, Ricardo J.; Simsek, Alp - 2011
In this paper we present a model of fire sales and market breakdowns, and of the financial amplification mechanism that follows from them. The distinctive feature of our model is the central role played by endogenous uncertainty. As conditions deteriorate, more “banks” within the financial...
Persistent link: https://www.econbiz.de/10014201970
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Omitted-Ability Bias and the Increase in the Return to Schooling
Blackburn, McKinley L. - 1991
use both a signaling model and a human capital model to explore how the relationship between ability and schooling could …
Persistent link: https://www.econbiz.de/10012475313
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Spatial Mismatch or Racial Mismatch?
Hellerstein, Judith K. - 2007
We contrast the spatial mismatch hypothesis with what we term the racial mismatch hypothesis - that the problem is not a lack of jobs, per se, where blacks live, but a lack of jobs where blacks live into which blacks are hired. We first report new evidence on the spatial mismatch hypothesis,...
Persistent link: https://www.econbiz.de/10012465492
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Matching and sorting in a global economy
Grossman, Gene M.; Helpman, Elhanan; Kircher, Philipp - 2013
Persistent link: https://www.econbiz.de/10010206913
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Are OLS Estimates of the Return to Schooling Biased Downward? Another Look
Blackburn, McKinley L. - 1993
We examine evidence on omitted-ability bias in estimates of the economic return to schooling, using proxies for unobserved ability. We consider measurement error in these ability proxies and the potential endogeneity of both experience and schooling, and examine wages at labor market entry and...
Persistent link: https://www.econbiz.de/10012474703
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Complexity and Financial Panics
Caballero, Ricardo J. - 2016
, banks normally collect information about their trading partners which assures them of the soundness of these relationships …. At some point, the cost of information gathering becomes too unmanageable for banks, uncertainty spikes, and they have no …
Persistent link: https://www.econbiz.de/10013009283
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Cross Sectional Efficiency and Labor Hoarding in an Matching Model of Unemployment
Bertola, Giuseppe - 1993
We study positive and normative aspects of steady-state equilibrium in a market where firms of endogenous size experience idiosyncratic shocks and undergo a costly search process to hire their workers. The stylized model we propose highlights interactions between job-security provisions and...
Persistent link: https://www.econbiz.de/10012474474
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Matching and Sorting in a Global Economy
Grossman, Gene M. - 2013
diminishing returns to the number of workers. We examine the sorting of factors to sectors and the matching of factors within …
Persistent link: https://www.econbiz.de/10012459150
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Gender Reveals in the Labor Market : Evidence on Gender Signaling and Statistical Discrimination in an Online Health Care Market
He, Haoran - 2024
different gender, race, or ethnic groups and how they evolve as buyers obtain more information about seller quality. We consider … using doctors' choices about signaling their gender. We find evidence of statistical discrimination against female doctors … female- and male-dominated fields the gender gap in signaling decreases with number of customer reviews of doctors. More …
Persistent link: https://www.econbiz.de/10015072871
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Training and the Growth of Wage Inequality
Constantine, Jill - 1994
Shifts in the incidence of various types of training over the 1980s favored more-educated, more-experienced workers. Coupled with the fact that this training is associated with higher wages, these shifts suggest that training may have contributed to the growth of wage inequality in this period....
Persistent link: https://www.econbiz.de/10012474196