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Panel Data Estimates of the Production Function and Product and Labor Market Imperfections
Dobbelaere, Sabien - 2010
Consistent with two models of imperfect competition in the labor market, the efficient bargaining model and the monopsony model, we provide two extensions of a microeconomic version of Hall's framework for estimating price-cost margins. We show that both product and labor market imperfections...
Persistent link: https://www.econbiz.de/10013138258
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How Do Industries and Firms Respond to Changes in Local Labor Supply?
Dustmann, Christian - 2012
In this paper, we investigate how changes in the skill mix of local labor supply are absorbed by the economy. We distinguish between three adjustment mechanisms: through factor prices, through an expansion in the size of those production units that use the more abundant skill group more...
Persistent link: https://www.econbiz.de/10013112767
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Business Conditions and Default Risks Across Countries
Pflüger, Michael - 2011
The risk of default that business firms face is very significant and differs widely across countries. This paper … explores the links between countries' business conditions and international trade embedment and the default risk at the country … default risk of firms which operate in these environments. The predictions are in accord with readily available data …
Persistent link: https://www.econbiz.de/10013128748
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Decomposing Changes in Income Risk Using Consumption Data
Blundell, Richard W. - 2011
We develop a new approach to the decomposition of income risk within a nonstationary model of intertemporal choice. The … approach allows for changes in income risk over the life-cycle and with the business cycle. It requires only repeated cross … decomposing income risk. The approach is used to investigate the changes in income risk in Britain across the inequality growth …
Persistent link: https://www.econbiz.de/10013118049
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Income Risk, Income Mobility and Welfare
Krebs, Tom - 2012
consumption-saving model with labor income risk and incomplete markets to relate income dynamics to consumption and welfare, and …) welfare-neutral. A smaller part of measured income mobility is due to either welfare-reducing income risk or welfare …
Persistent link: https://www.econbiz.de/10013096445
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On the Origin of the Family
Francesconi, Marco - 2009
This paper presents an overlapping generations model to explain why humans live in families rather than in other pair groupings. Since most non-human species are not familial, something special must be behind the family. It is shown that the two necessary features that explain the origin of the...
Persistent link: https://www.econbiz.de/10013153016
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Labour Market Status and Migration Dynamics
Bijwaard, Govert E. - 2009
In this empirical paper we assess how labour market transitions and out- and repeated migration of immigrants are interrelated. We estimate a multi-state multiple spell competing risks model with four states: employed, unemployed receiving benefits, out-of-the-labour market (no benefits) and...
Persistent link: https://www.econbiz.de/10013154986
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Should Old-Age Benefits Be Earnings-Tested?
Määttänen, Niku - 2007
model with idiosyncratic labor income risk. In our model economy, even a moderate earnings testing reduces individuals …
Persistent link: https://www.econbiz.de/10012777462
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Capital Income Risk and the Dynamics of the Wealth Distribution
Khieu, Hoang - 2018
In this paper, we develop and numerically solve a model of idiosyncratic labour income and idiosyncratic interest rates to predict the evolution of a wealth distribution over time. Stochastic labour income follows a deterministic growth trend and it fluctuates between a wage and unemployment...
Persistent link: https://www.econbiz.de/10012909981
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The Likelihood of Divorce and the Riskiness of Financial Decisions
Stark, Oded - 2019
stronger distaste for low relative wealth translates into reduced relative risk aversion and, consequently, into riskier … prone to divorce exhibit risk-taking behavior that is more similar to that of single men than married men in environments …
Persistent link: https://www.econbiz.de/10012864857