Using a Mortensen-Pissarides search-and-matching framework, this paper investigates the importance of search frictions in determining the welfare and distributional effects of tax reforms that re-allocate the tax burden from capital to labour income. Calibrating the model to the UK economy, we...

In this paper, we develop heterogeneous agent models with equilibrium unemployment to study the optimal taxation and labour wedge. We find that the the presence of profits plays an important role in the determination of both optimal tax policy and labour wedge. Judd-Chamley optimal zero capital...

This paper evaluates the effects of policy interventions on sectoral labour markets and the aggregate economy in a business cycle model with search and matching frictions. We extend the canonical model by including capital-skill complementarity in production, labour markets with skilled and...

We extend the canonical model of search and matching frictions by including capital-skill complementarity in production, labour markets with skilled and unskilled workers and on-the-job-learning (OJL) within and across skill types. These extensions capture key characteristics of skilled and...

The vortex phases and dynamics of high-temperature and conventional amorphous superconductors are investigated over a broad frequency range. A second-order vortex-solid melting transition in both YBa2Cu3O7 single crystals with random point defects and amorphous Mo3Si films is manifested by a set...

Low-temperature magnetic properties of a Heisenberg model consisting of ferro- and antiferromagnetic layer superlattices are studied by using spin-wave theory and retarded Green's function method. The four-sublattice magnetizations and internal energy and specific heat at low temperature are...

The method of the effective-field theory with self-spin correlations and the differential operator technique is used to study the magnetic properties of the spin-3/2 Ising model with biaxial crystal-field on the honeycomb lattice. The effects of a biaxial crystal-field described by two uniaxial...

This paper formally analyzes the biases related to self-reporting in hedge fund databases by matching the quarterly equity holdings of a complete list of 13F-filing hedge fund companies to the union of five major commercial databases of self-reporting hedge funds between 1980 and 2008. We find...

This paper studies the confidential holdings of institutional investors, especially hedge funds, where the quarter-end equity holdings are disclosed with a delay through amendments to the Form 13F and are usually excluded from the standard databases. Evidence supports private information as the...

The molecular-based magnet system consists of mixed spin-2 and spin- 5/2 honeycomb lattices with ferrimagnetic interlayer coupling. Within the framework the effective-field theory with self-spin correlations and differential operator technique, the effects of the transverse field on the...