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Capital Prices and Eurozone Competitiveness Differentials

Askenazy, Philippe - 2013

Competitiveness differentials are blamed for the instability of the Eurozone. Most of the analyses focus on labour costs or labour-market institutions. This paper explores an additional source of differentials in competitiveness: land and building prices. European countries, especially France,...

Persistent link: https://www.econbiz.de/10013086230

Nominal or Real? The Impact of Regional Price Levels on Satisfaction with Life

Deckers, Thomas - 2013

We study the effect of real versus nominal income on life satisfaction. According to economic theory real income, i.e., nominal income adjusted for purchasing power, should be the relevant source of life satisfaction. Previous work, however, has only studied the impact of nominal income. We use...

Persistent link: https://www.econbiz.de/10013083088

Regional Price Differences in Urban China 1986-2001 : Estimation and Implication

Gong, Cathy Honge; Meng, Xin - 2021

Despite the intensive efforts made by economists to examine regional income inequality in China, limited attention has been paid to disentangle the contribution of regional price differentials. This paper examines regional price differential in urban China over the period 1986 to 2001. Spatial...

Persistent link: https://www.econbiz.de/10013325065

Frictional Unemployment with Stochastic Bubbles

Vuillemey, Guillaume - 2016

Bubbles are recurrent events, which contribute to both macroeconomic and employment volatility. We introduce stochastic … bubbles in the standard search-and matching model of the labor market. The economy alternates between latent and bubbly states …, each being associated with a distinct solution for the market value of firms (respectively, stable or explosive). Bubbles …

Persistent link: https://www.econbiz.de/10012981503

Mind, Body, Bubble! Psychological and Biophysical Dimensions of Behavior in Experimental Asset Markets

Butler, David J. - 2018

Asset market bubbles and crashes are a major source of economic instability and inefficiency. Sometimes ascribed to …

Persistent link: https://www.econbiz.de/10012917090

The Global Economic Crisis : Long-Term Unemployment in the OECD

Junankar, P. N. Raja - 2011

This paper analyses the impact of the global economic crisis on unemployment and long term unemployment in the OECD. It uses simple econometric models using panel data (quarterly) and time series data. In general, we find that long term unemployment increases with the unemployment rate, there is...

Persistent link: https://www.econbiz.de/10013118778

League-Table Incentives and Price Bubbles in Experimental Asset Markets

Cheung, Stephen L. - 2011

We study experimental markets in which participants face incentives modeled upon those prevailing in markets for managed funds. Each participant's portfolio is periodically evaluated at market value and ranked in a league table according to short-term paper returns. Those who rank highly attract...

Persistent link: https://www.econbiz.de/10013124787

To See is to Believe : Common Expectations in Experimental Asset Markets

Cheung, Stephen L. - 2012

We challenge the recent claim that mispricing in the experimental asset markets introduced by Smith, Suchanek, and Williams (1988) is merely an artefact of confusion over declining fundamental value, and can be eliminated through appropriate training. We instead propose that when training is...

Persistent link: https://www.econbiz.de/10013099096

Produce or Speculate? Asset Bubbles, Occupational Choice and Efficiency

Cahuc, Pierre - 2009

We study the macroeconomic effects of rational asset bubbles in an overlapping-generations economy where asset trading … are large, the private gains associated with trading asset bubbles may lead too many workers to become speculators …, thereby causing rational bubbles to lose their efficiency properties. Moreover, if speculation can be carried out by skilled …

Persistent link: https://www.econbiz.de/10013153172

Two Heads are Less Bubbly than One : Team Decision-Making in an Experimental Asset Market

Cheung, Stephen L. - 2009

We study the effect of team decision-making on bubbles and crashes in experimental asset markets of the kind introduced …

Persistent link: https://www.econbiz.de/10013155154