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The equity premium follows a pronounced v-shape pattern around the beginning of recessions. It sharply drops into negative territory just before business cycle peaks and then strongly recovers as the recession unfolds. Recessions are preceded by an inverted yield curve. Thus probit models using...
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As skills of labor-market entrants are usually not directly observed by employers, individuals acquire skill signals. To study which signals are valued by employers, we simultaneously and independently randomize a broad range of skill signals on pairs of resumes of fictitious applicants among...
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decision-making process of hiring committees within a large private company. In the hiring process, committee members first … conduct independent one-to-one interviews and give individual recommendations before deliberating on a collective hiring … decision. We find that committees' final hiring decisions are systematically less aligned with the initial recommendations of …
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large-scale data from high-stakes admission and hiring processes, where candidates are quasi-randomly assigned to evaluators …' votes of up to 40% and distorting final admission and hiring decisions. Our findings are in line with a contrast effect …
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