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Attention economies
Falkinger, Josef - 2003
surviving the contest for attention. Application of the equilibrium analysis to changes in information technologies and …
Persistent link: https://www.econbiz.de/10011511091
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Macro-financial linkages in the high-frequency domain : the effects of uncertainty on realized volatility
Caporale, Guglielmo Maria; Karanasos, Menelaos; Yfanti, … - 2019
This paper estimates a bivariate HEAVY system including daily and intra-daily volatility equations and its macro-augmented asymmetric power extension. It focuses on economic factors that exacerbate stock market volatility and represent major threats to financial stability. In particular, it...
Persistent link: https://www.econbiz.de/10012158736
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The effect of better information on income inequality
Eckwert, Bernhard; Zilcha, Itzhak - 2003
which is used for updating beliefs. Thus, a better information system affects the distribution of human capital in each …) If the relative measure of risk aversion is less (more) than 1 then more information raises (reduces) income inequality …. (b) When a risk sharing market is available better information results in higher inequality regardsless of the measure …
Persistent link: https://www.econbiz.de/10011507996
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Legal uncertainty as a welfare enhancing screen
Lang, Matthias - 2016
Consider legal uncertainty as uncertainty about the legality of a specific action. In particular, suppose that the threshold of legality is uncertain. I show that this legal uncertainty raises welfare. Legal uncertainty changes deterrence in opposite directions. The probability of conviction...
Persistent link: https://www.econbiz.de/10011557794
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Endogenous growth, the distribution of wealth, and optimal policy under incomplete markets and idiosyncratic risk
Clemens, Christiane; Heinemann, Maik - 2012
This paper combines the standard incomplete markets model of uninsurable idiosyncratic risks and borrowing constraints with the Arrow/Romer approach to endogenous growth to analyze the interaction of risk, growth, and inequality, the latter also endogenously determined in equilibrium. We derive...
Persistent link: https://www.econbiz.de/10009540768
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Guaranteed renewable life insurance under demand uncertainty
Hoy, Michael; Mirza, Afrasiab; Sadanand, Asha B. - 2018
Guaranteed renewability is a prominent feature in many health and life insurance markets. It is well established in the literature that, when there is (only) risk type uncertainty, the optimal GR contract with renewal price set at the actuarially fair price for low risk types provides full...
Persistent link: https://www.econbiz.de/10011864322
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Unpacking economic uncertainty : measuring the firm, sector and aggregate components
Mohades, Siavash; Piccillo, Giulia; Treibich, Tania - 2024
We introduce a novel method for measuring economic uncertainty at the firm, sector, and aggregate levels using sales volatility and validate it by comparison with existing macroeconomic uncertainty measures. We use Compustat firms data in the period 2000-2022 to construct our uncertainty...
Persistent link: https://www.econbiz.de/10014486791
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Risk and heterogeneity in benefits from vocational versus general secondary-education : estimates for early and mature career stages in Portugal
Hartog, Joop; Raposo, Pedro; Reis, Hugo - 2023
We estimate a dynamic model of individual labour market careers (turnover and search, wage development) on Portuguese panel data of graduates from vocational and general secondary education. We find that vocational graduates benefit more from the internal labour market than from the external...
Persistent link: https://www.econbiz.de/10014309585
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Business decision-making under uncertainty : evidence from employment and number of businesses
Ghosal, Vivek; Ye, Yang - 2013
Using the framework provided by the asymmetric-information and real-options theories, we examine the impact of …
Persistent link: https://www.econbiz.de/10009764986
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Uncertainty and the employment dynamics of small and large businesses
Ghosal, Vivek; Ye, Yang - 2014
We examine the impact of uncertainty on employment dynamics. Alternative measures of uncertainty are constructed based on the survey of professional forecasters, and regression-based forecasting models for GDP growth, inflation, S&P500 stock price index, and fuel prices. Our results indicate...
Persistent link: https://www.econbiz.de/10010428770