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Epstein, Gil S.; Gang, Ira N. - 2009

present a model which incorporates elements from the theory of information cascades with the standard model of tax evasion and …

Persistent link: https://www.econbiz.de/10003832265

Undocumented worker employment and firm survival

Brown, J. David (contributor); … - 2009

. Firms are found to engage in herding behavior, being more likely to employ undocumented workers if competitors do. Rivals … marginal revenue product. The herding behavior and competitive effects are found to be much weaker in geographically broad …

Persistent link: https://www.econbiz.de/10003794077

Informational cascades and decision to migrate

Epstein, Gil S. - 2002

We introduce the idea that informational cascades can explain the observed regularity that emigrants from the same locations also tend to choose the same foreign locations. Thus informational cascades generate herd behavior. Herd behavior is compared with the network externalities explanation of...

Persistent link: https://www.econbiz.de/10011406717

Why is unemployment duration a sorting criterion in hiring?

Van Belle, Eva; Caers, Ralf; Couck, Marijke de; Di … - 2017

theory, and rational herding. We use the resulting data to estimate a multiple mediation model, in which the effect of the … mechanisms often related to the scarring effect of unemployment: general signalling theory, (perceived) skill loss, queuing … related to the scarring effect of unemployment: general signalling theory, (perceived) skill loss, queuing theory, and …

Persistent link: https://www.econbiz.de/10011704177

A steady-state model of a non-walrasian economy with three imperfect markets

Wasmer, Etienne - 2011

Unemployment may depend on equilibrium in other markets than the labor markets. This paper adresses this old idea by introducing search frictions on several markets: in a model of credit and labor market imperfections as in Wasmer and Weil (2004), I further introduce search on the goods market....

Persistent link: https://www.econbiz.de/10009308020

Financial markets, banks' cost of funding, and firms' decisions : lessons from two crises

Balduzzi, Pierluigi; Brancati, Emanuele; Schiantarelli, … - 2013

We test whether financial fluctuations affect firms' decisions, through their impact on banks' cost of funding. We exploit two shocks to Italian bank CDS spreads and equity valuations: the 2007-2009 financial crisis and the 2010-2012 sovereign debt crisis. Using newly available data linking over...

Persistent link: https://www.econbiz.de/10010229932

Market distortions and local indeterminacy : a general approach

Lloyd-Braga, Teresa; Modesto, Leonor; Seegmuller, Thomas - 2011

We provide a methodology to study the role of market distortions on the emergence of indeterminacy and bifurcations. Most of the specific market imperfections considered in the related literature are particular cases of our framework. Comparing them we obtain several equivalence results in terms...

Persistent link: https://www.econbiz.de/10009235089

Short-time work and precautionary savings

Dengler, Thomas; Gehrke, Britta - 2021

In the Covid-19 crisis, most OECD countries use short-time work schemes (subsidized working time reductions) to preserve employment relationships. This paper studies whether short-time work can save jobs through stabilizing aggregate demand in recessions. We build a New Keynesian model with...

Persistent link: https://www.econbiz.de/10012517675

The cyclical volatility of labor markets under frictional financial markets

Petrosky-Nadeau, Nicolas; Wasmer, Etienne - 2010

Financial frictions are known to raise the volatility of economies to shocks (e.g. Bernanke and Gertler 1989). We follow this line of research to the labor literature concerned by the volatility of labor market outcomes to productivity shocks initiated by Shimer (2005): in an economy with search...

Persistent link: https://www.econbiz.de/10008810695

Trading while sleepy? : circadian mismatch and excess volatility in a global experimental asset market

Dickinson, David L.; Chaudhuri, Ananish; … - 2017

Traders in global markets operate at different local times-of-day. Suboptimal times-of-day may produce sleepiness due to daily variations in sleep/wake patterns and possibly also increased accumulation of hours awake. Global asset markets imply significantly increased heterogeneity in circadian...

Persistent link: https://www.econbiz.de/10011731909

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