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Worker self-selection and the profits from cooperation
Kosfeld, Michael (contributor);  … - 2008
different firms and firms employing cooperative workers make strictly positive profits. Profit differences across firms persist …
Persistent link: https://www.econbiz.de/10003784391
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Using firm optimization to evaluate and estimate returns to scale
Gorodnichenko, Yuriy (contributor) - 2008
often inconsistent with profit maximization or imply implausibly large profits. The puzzle arises because popular estimators … the restrictions imposed by profit maximization (cost minimization) so that estimators are inconsistent or poorly … rather than production functions and demonstrates that the profit share in revenue is a robust non-parametric economic …
Persistent link: https://www.econbiz.de/10003656928
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Employment, exchange rates and labour market rigidity
Alexandre, Fernando; Bação, Pedro; Cerejeira, João; … - 2010
There is increasing evidence that the interaction between shocks and labour market institutions is crucial to understanding the dynamics of employment. In this paper, we show that the inclusion of labour adjustment costs in a trade model affects the impact of exchange rate movements on...
Persistent link: https://www.econbiz.de/10003959141
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Resolving puzzles of monetary policy transmission in emerging markets
Ha, Jongrim; Kim, Dohan; Kose, M. Ayhan; Prasad, Eswar S. - 2024
Conventional empirical models of monetary policy transmission in emerging market economies produce puzzling results: monetary tightening often leads to an increase in prices (the price puzzle) and depreciation of the currency (the FX puzzle). We show that incorporating forward-looking...
Persistent link: https://www.econbiz.de/10015084194
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Generational accounting, solidarity and pension losses
Teulings, Coen N. (contributor);  … - 2003 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001875426
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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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Warrant economics, call-put policy options and the fallacies of economic theory
Hatgioannides, John; Karanassou, Marika - 2011
In this paper we aim to trace the roots of the ongoing economic mayhem and to unmask the chorus of the tragedy which plays on the world stage. The main thesis of our work is that, despite the triumphant rhetoric praising the merits of perfect competition, the global fields of the dysfunctional...
Persistent link: https://www.econbiz.de/10009524338
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Fiscal policy, sovereign default, and bailouts
Jüßen, Falko; Schabert, Andreas - 2013
This paper examines fiscal policy without commitment and the effects of conditional bailout loans. The government relies on distortionary taxation and decides between full debt repayment and costly default. It tends to overborrow due to myopia, which induces default to be a relevant policy...
Persistent link: https://www.econbiz.de/10010225902
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The labor market consequences of adverse financial shocks
Boeri, Tito; Garibaldi, Pietro; Moen, Espen R. - 2012
The recent financial crises, alongside a dramatic rise in unemployment on both sides of the Atlantic, suggest that financial shocks do translate into the labor markets. In this paper we first document that financial recessions amplify labor market volatility and Okun's elasticity over the...
Persistent link: https://www.econbiz.de/10009613676
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What do unions do for economic performance?
Hirsch, Barry T. (contributor) - 2003 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001799708