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Umbau der Finanzmärkte: Übermäßiges Vertrauen in Marktrationalität hält an
Dullien, Sebastian - In: Wirtschaftsdienst 93 (2013) Sonderheft, pp. 23-29
Governments on both sides of the Atlantic have reacted with a raft of new regulations to the US subprime mortgage crisis. The article argues that while these new rules actually touch many of the incentive and information problems which were instrumental in creating the crisis, they only address...
Persistent link: https://www.econbiz.de/10010292915
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Aggregate worker reallocation and occupational mobility in the United States: 1971 - 2000
Moscarini, Giuseppe; Vella, Francis - 2002
We investigate the evolution and the sources of aggregate employment reallocation in the United States in the 1971 … different technology. We find that the total reallocation of employment across occupations has been strongly procyclical and … these patterns, while correcting for possible worker selection into employment, we construct a synthetic panel based on …
Persistent link: https://www.econbiz.de/10010292926
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The lifecycle model of consumption and saving
Browning, Martin; Crossley, Thomas F, - 2001
The life-cycle framework is the standard way that economists think about the intertemporal allocation of time, effort and money. The framework has a venerable history in the economics profession with roots in the in…nite horizon models of Ramsey (1926) and Friedman (1957) and the …nite...
Persistent link: https://www.econbiz.de/10010292931
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The SES health gradient on both sides of the Atlantic
Banks, James; Marmot, Michael; Oldfield, Zoë; Smith, … - 2006
In this paper we investigate the size of health differences that exist among men in England and the United States and how those differences vary by Socio-Economic Status (SES) in both countries. Three SES measures are emphasized - education, household income, and household wealth - and the...
Persistent link: https://www.econbiz.de/10010292933
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Why is consumption more log normal than income? Gibrat's law revisited
Battistin, Erich; Blundell, Richard; Lewbel, Arthur - 2007
Significant departures from log normality are observed in income data, in violation of Gibrat’s law. We identify a new empirical regularity, which is that the distribution of consumption expenditures across households is, within cohorts, closer to log normal than the distribution of income. We...
Persistent link: https://www.econbiz.de/10010292940
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Competition and innovation: An inverted u relationship
Aghion, Philippe; Bloom, Nicholas; Blundell, Richard; … - 2002
This paper investigates the relationship between product market competition (PMC) and innovation. A Schumpeterian growth model is developed in which firms innovate ѳtep-by-stepҬ and where both technological leaders and their followers engage in R&D activities. In this model, competition...
Persistent link: https://www.econbiz.de/10010292944
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Survival of the best fit: Exposure to low-wage countries and the (uneven) growth of US manufacturing plants
Bernard, Andrew Barnes; Jensen, J. Bradford; Schott, … - 2003
that plant survival as well as output and employment growth are negatively associated with the share of industry imports …
Persistent link: https://www.econbiz.de/10010292945
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Consumption inequality and partial insurance
Blundell, Richard W.; Pistaferri, Luigi; Preston, Ian - 2004
This paper describes the transmission of income inequality into consumption inequality and in so doing investigates the degree of insurance to income shocks. It combines panel data on income from the PSID with consumption data from repeated CEX cross-sections and distinguishes between permanent...
Persistent link: https://www.econbiz.de/10010292960
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Judicial accountability and economic policy outcomes: Evidence from employment discrimination charges
Besley, Timothy; Payne, Abigail - 2003
.S. to investigate whether judicial selection methods affect the number of employment discrimination charges filed for the …
Persistent link: https://www.econbiz.de/10010292961
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Consequences and predictors of new health events
Smith, James P. - 2003
There is renewed interest in why people of lower socio-economic status (SES) have worse health outcomes. No matter which measures of SES are used (income, wealth, or education), the evidence that this association is large is abundant (Marmot (1999), Smith (1999)). The relation between SES and...
Persistent link: https://www.econbiz.de/10010292965