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International labour force participation rates by gender : unit root or structural breaks?

Ozdemir, Zeynel Abidin; Balcilar, Mehmet; Tansel, Aysıt - 2011

in the total, female and male labour force participation rates (LFPR) for Australia, Canada and the USA. We extend the …

Persistent link: https://www.econbiz.de/10009516900

Exponent of cross-sectional dependence : estimation and inference

Bailey, Natalia; Kapetanios, George; Pesaran, M. Hashem - 2012

An important issue in the analysis of cross-sectional dependence which has received renewed interest in the past few years is the need for a better understanding of the extent and nature of such cross dependencies. In this paper we focus on measures of cross-sectional dependence and how such...

Persistent link: https://www.econbiz.de/10009530816

Subjective discount rates, intergenerational transfers and the return to schooling

Belzil, Christian; Hansen, Jörgen - 1999

Using a dynamic programming model of schooling decisions, we investigate the relationship between subjective discount rates and the labor market ability (the discount rate bias) on a panel taken from the National Longitudinal Survey of Youth (NLSY). Given household human capital and Armed Forces...

Persistent link: https://www.econbiz.de/10011313951

Wage dynamics and unobserved heterogeneity : time preference or learning ability?

Munasinghe, Lalith (contributor); … - 2004

productivity related factors. In this paper we present a theory of career choice and derive a discriminating test between two … inherently unobservable sources of heterogeneity learning ability and workers' inter-temporal preferences (discounting) both of …

Persistent link: https://www.econbiz.de/10002529741

Predictability of asset returns and the efficient market hypothesis

Pesaran, M. Hashem - 2010

This paper is concerned with empirical and theoretical basis of the Efficient Market Hypothesis (EMH). The paper begins with an overview of the statistical properties of asset returns at different frequencies (daily, weekly and monthly), and considers the evidence on return predictability, risk...

Persistent link: https://www.econbiz.de/10003985756

Mind, body, bubble! : psychological and biophysical dimensions of behavior in experimental asset markets

Butler, David J.; Cheung, Stephen L. - 2018

Asset market bubbles and crashes are a major source of economic instability and inefficiency. Sometimes ascribed to animal spirits or irrational exuberance, their source remains imperfectly understood. Experimental methods can isolate systematic deviations from an asset's fundamental value in a...

Persistent link: https://www.econbiz.de/10011870688

Choosing monetary sequences : theory and experimental evidence

Manzini, Paola (contributor); Mariotti, Marco (contributor); … - 2006

the economics domain. In the experiment we find that: 1) traditional economic models based on discounting alone cannot …; 2) our model, despite considering only a specific (exponential) form of discounting, can explain the data much better … basic predictions of discounting theories: the deviations are not random and there are clear systematic patterns of …

Persistent link: https://www.econbiz.de/10003323162

Time discounting and the body mass index

Borghans, Lex (contributor); … - 2005

individual discount rate, this paper analyzes whether changes in time discounting can account for differences in body mass … remarkable increase in BMI experienced in recent years. We find some evidence for a link between time discounting and differences … our hypothesis the best chance, we analyze the development of the time discounting proxies that are most strongly related …

Persistent link: https://www.econbiz.de/10002805498

Testing CAPM with a large number of assets

Pesaran, M. Hashem; Yamagata, Takashi - 2012

This paper is concerned with testing the time series implications of the capital asset pricing model (CAPM) due to Sharpe (1964) and Lintner (1965), when the number of securities, N, is large relative to the time dimension, T, of the return series. In the case of cross-sectionally correlated...

Persistent link: https://www.econbiz.de/10009535779

International migration with heterogeneous agents : theory and evidence

Brücker, Herbert (contributor); … - 2006

investigation of the cointegration relationships of German migration stocks and flows since 1967. We find that (i) panel-unit root … migration stocks and the explanatory variables are all I(1) variables, and (ii) the hypothesis of cointegration cannot be … rejected for the stock model. -- international migration ; temporary migration ; panel cointegration …

Persistent link: https://www.econbiz.de/10003376850

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