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We test for the existence of housing bubbles associated with a failure of the transversality condition that requires …
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these linked bubbles primarily focus on the irrationality of investor speculation and the corresponding stock price behavior … examine a broad cross‐section of security price data to evaluate the causes of the bubbles. Using newly collected stock prices … in 1720. Our findings are consistent with the hypothesis that financial bubbles require a plausible story to justify …
Persistent link: https://www.econbiz.de/10013039339
A substantial body of research on the UK's National Minimum Wage (NMW) has concluded that the the NMW has not had a detrimental effect on employment. This research has directly influenced, through the Low Pay Commission, the conduct of policy, including the subsequent introduction of the...
Persistent link: https://www.econbiz.de/10012868816
Excessive turnover reduces the stock of an organization's human capital. In the public sector, where wage increases are often constrained, managers need to leverage non-monetary working conditions to retain their workers. We investigate whether workers are responsive to improvements in non-wage...
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We investigate the Expectations Hypotheses of the term structure of interest rates and of the foreign exchange market using vector autoregressive methods for the U.S. dollar, Deutsche mark, and British pound interest rates and exchange rates. In addition to standard Wald tests, we formulate...
Persistent link: https://www.econbiz.de/10013232893