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The effect of better information on income inequality

Eckwert, Bernhard; Zilcha, Itzhak - 2003

levels is generated by random innate ability. The production of human capital depends on each individual s investment in …) 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

Business uncertainty in developing and emerging economies

Avalos, Edgar; Barrero, Jose Maria; Davies, Elwyn; … - 2024

We study business uncertainty in high- versus low-volatility environments by surveying over 31,000 managers across 41 countries. We elicit subjective probability distributions for future own-firm sales and measure firm-level uncertainty with their mean absolute deviations. Analogously, we...

Persistent link: https://www.econbiz.de/10015071152

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

Uncertainty, imperfect information, and expectation formation over the firm's life cycle

Chen, Cheng; Senga, Tatsuro; Sun, Chang; Zhang, Hongyong - 2020

' post-entry dynamics and aggregate productivity. …

Persistent link: https://www.econbiz.de/10012258487

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

One size does not fit all : TFP in the aftermath of financial crises in three European countries

Abele, Christian; Bénassy-Quéré, Agnès; Fontagné, … - 2021

-13 on firm-level productivity in France, Italy and Spain. We show that relying on a single break date in 2008 misses both …-level productivity negatively, high-leverage firms suffer more from financial constraints only in Italy, when they are relatively small … productivity. …

Persistent link: https://www.econbiz.de/10012433745

Sustainable banking and credit market segmentation

Kelly, David L.; Paik, Christopher - 2024

identify an asymmetric information problem: borrowers signal low financial risk to banks who are uncertain about borrower risk …

Persistent link: https://www.econbiz.de/10015144331

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

the literature on wage effects we add a breakdown of variances in heterogeneity and risk. …

Persistent link: https://www.econbiz.de/10014309585

How do floods affect firms' economic performance? : evidence from two cyclones in New Zealand

Prieto, Cristhian D.; Noy, Ilan - 2024

capital damage and labour displacement, rather than productivity losses, are the primary channels through which flooding …

Persistent link: https://www.econbiz.de/10015084924

Production function estimation with multi-destination firms

Barrows, Geoffrey; Ollivier, Hélène; Reshef, Ariell - 2023

We develop a procedure to estimate production functions, elasticities of demand, and productivity when firms …

Persistent link: https://www.econbiz.de/10014384034