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Does financial deregulation boost top incomes? : evidence from the Big Bang

Tanndal, Julia; Waldenström, Daniel - 2016

constructing synthetic control groups, we show that the "Big Bang"-deregulations in the United Kingdom in 1986 and Japan 1997 …-1999 increased the share of pre-tax incomes going to top earners by over 20 percent in the U.K. and over 10 percent in Japan. The … in Japan. The findings are robust to placebo tests, alternative ways to construct synthetic controls and scrutiny of post …

Persistent link: https://www.econbiz.de/10011450671

Unemployment and vacancy dynamics with imperfect financial markets

Carrillo-Tudela, Carlos; Graber, Michael; Wälde, Klaus - 2015

This paper proposes a simple general equilibrium model with labour market frictions and an imperfect financial market. The aim of the paper is to analyse the transitional dynamics of unemployment and vacancies when financial constraints are in place. We model the financial sector as a...

Persistent link: https://www.econbiz.de/10011388322

Mental models in financial markets : how do experts reason about the pricing of climate risk?

Bauer, Rob; Gödker, Katrin; Smeets, Paul; Zimmermann, … - 2024

We investigate financial experts' beliefs about climate risk pricing and analyze how those beliefs influence stock return expectations. In a comprehensive survey, we elicit experts' beliefs using both structured and open-ended questions. We establish that most experts share the view that climate...

Persistent link: https://www.econbiz.de/10014535704

Model of NGO regulation with an application to Uganda

Burger, Ronelle; Dasgupta, Indraneel; Owens, Trudy - 2011

We develop a model of regulation of service-delivery NGOs, where future grants are conditional on prior spending of some minimal proportion of current revenue on direct project-related expenses. Such regulation induces some NGOs to increase current project spending, but imposes wasteful costs of...

Persistent link: https://www.econbiz.de/10009523471

Redistributive taxation and personal bankruptcy in US states

Grant, Charles B. (contributor); … - 2005

Both personal bankruptcy and redistributive taxes can insure households' consumption risk and both vary considerably across US states. We derive sufficient conditions under which more redistributive taxation makes bankruptcy exemptions less attractive both for the intratemporal insurance and for...

Persistent link: https://www.econbiz.de/10003189633

State-level economic policy uncertainty

Baker, Scott; Davis, Steven J.; Levy, Jeffrey A. - 2022

We quantify and study state-level economic policy uncertainty. Tapping digital archives for nearly 3,500 local newspapers, we construct three monthly indexes for each state: one that captures state and local sources of policy uncertainty (ΕPU-S), one that captures national and international...

Persistent link: https://www.econbiz.de/10013170258

Financial literacy amongst young people : when does the gender gap begin?

Preston, Alison; Wright, Robert E. - 2022

Using micro-data from the Household, Income and Labour Dynamics in Australia (HILDA) Survey, and the Oaxaca-Blinder decomposition technique, this paper contributes to knowledge on gender-gaps in financial literacy (FL) via a study of teenagers, emerging adults and young adults. The analysis...

Persistent link: https://www.econbiz.de/10013198794

Bringing connections onboard: the value of political influence

Green, Colin; Homroy, Swarnodeep - 2020

In 2002, an amendment to UK parliamentary regulations removed restrictions on the participation of members of parliament (MPs) in parliamentary proceedings related to their corporate interests. Using this amendment as a quasi-natural experiment, we demonstrate gains in firm value and...

Persistent link: https://www.econbiz.de/10012239525

Monitoring costs, credit constraints and entrepreneurship

Banerji, Sanjay; Raj, Rajesh S. N.; Sen, Kunal - 2012

The vast majority of firms in developing economies are micro and small enterprises owned by families whose members also provide the labour to the units. Often, they fail to grow in size even with the relaxation of credit constraints. In this paper, we show that frictions in the labour market...

Persistent link: https://www.econbiz.de/10009548201

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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