Showing 1 - 10 of 1,308
Persistent link: https://www.econbiz.de/10009687378
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/10012463318
We test for the existence of housing bubbles associated with a failure of the transversality condition that requires …
Persistent link: https://www.econbiz.de/10012458510
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...
Persistent link: https://www.econbiz.de/10014030196
We study three centuries of U.K. fiscal history. Before WW-I, when the U.K. dominated global bond markets, the U.K.'s government debt was not always fully backed by its future surpluses, even after accounting for the seigniorage revenue from convenience yields. As predicted by theories of safe...
Persistent link: https://www.econbiz.de/10013210087
We study cointegrating relationships among fiscal variables and output and use them to introduce a new measure of the government's fiscal position. In the US since World War II, we find that the primary surplus-GDP ratio and the government debt-GDP ratio are nonstationary, which invalidates...
Persistent link: https://www.econbiz.de/10014287325
Persistent link: https://www.econbiz.de/10012518652
Persistent link: https://www.econbiz.de/10010234995
Persistent link: https://www.econbiz.de/10012820029