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Endogenous indoctrination : occupational choice, the evolution of beliefs, and the political economy of reform
Saint-Paul, Gilles - 2009
favourable to the market economy. Two parameters that govern this capacity to learn are social entropy and heritability. Social … entropy defines how predictable one's occupation is as a function of one's beliefs. Heritability is the weight of the family …'s beliefs in the determination of the priors of a new generation. Both heritability and social entropy reduce the bias and makes …
Persistent link: https://www.econbiz.de/10003902085
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Inequality and the GB2 income distribution
Jenkins, Stephen (contributor) - 2007
The generalized entropy class of inequality indices is derived for Generalized Beta of the Second Kind (GB2) income …
Persistent link: https://www.econbiz.de/10003597779
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"The double dividend of training" : labor market effects of work-related continuous education in Switzerland
Denzler, Stefan; Ruhose, Jens; Wolter, Stefan C. - 2022
market outcomes, we apply a regression-adjusted matched difference-in-differences approach with entropy balancing to account …
Persistent link: https://www.econbiz.de/10013414731
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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
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Simultaneous search and network efficiency
Gautier, Pieter; Holzner, Christian - 2011
When workers send applications to vacancies they create a network. Frictions arise because workers typically do not know where other workers apply to and firms do not know which candidates other firms consider. The first coordination friction affects network formation, while the second...
Persistent link: https://www.econbiz.de/10009310818
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Information characteristics and errors in expectations : experimental evidence
Antoniou, Constantinos; Harrison, Glenn W.; Igel Lau, Morten - 2015
We design an experiment to test the hypothesis that, in violation of Bayes Rule, some people respond more forcefully to the strength of information than to its weight. We provide incentives to motivate effort, use naturally occurring information, and control for risk attitude. We find that the...
Persistent link: https://www.econbiz.de/10011347344
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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
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Optimal spatial taxation : are big cities too small?
Eeckhout, Jan; Guner, Nezih - 2015
We analyze the role of optimal income taxation across different local labor markets. Should labor in large cities be taxed differently than in small cities? We find that a planner who needs to raise revenue and is constrained by free mobility of labor across cities does not choose equal taxes...
Persistent link: https://www.econbiz.de/10010470412
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Minimum wages and insurance within the firm
Adamopoulou, Effrosyni; Manaresi, Francesco; Rachedi, Omar - 2021
Minimum wages alter the allocation of firm-idiosyncratic risk across workers. To establish this result, we focus on Italy, and leverage employer-employee data matched to firm balance sheets and hand-collected wage floors. We find a relatively larger pass-through of firm-specific labor-demand...
Persistent link: https://www.econbiz.de/10012795332
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Distributional effects of emission pricing in a carbon-intensive economy: the case of Poland
Antosiewicz, Marek; Fuentes S. M., J. Rodrigo; … - 2020
In this paper, we assess the distributional impact of introducing a carbon tax in Poland. We apply a two-step simulation procedure. First, we evaluate the economy-wide effects with a dynamic general equilibrium model. Second, we use a microsimulation model based on household budget survey data...
Persistent link: https://www.econbiz.de/10012249650