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This paper analyses theoretically and empirically how employment subsidies should be targeted. We contrast measures involving targeting workers with low incomes/abilities and targeting the unemployed under the criteria of "approximate welfare efficiency" (AWE). Thereby we can identify policies...
Persistent link: https://www.econbiz.de/10013316994
Does the availability of internal finance constrain firm growth? Or does it foster it? To answer these questions, we use a panel of 407,096 Chinese firms over the period 2000-2005. We estimate dynamic assets growth equations augmented with cash flow, and find that the growth of state owned...
Persistent link: https://www.econbiz.de/10013324808
We set up a model with on-the-job search in which firms infrequently post vacancies for which workers occasionally apply. The model nests the standard job ladder and stock-flow models as special cases while remaining analytically tractable and easy to estimate from standard panel data sets....
Persistent link: https://www.econbiz.de/10012911194
This paper offers some new directions in the analysis of nonparamertric models with exogenous treatment assignment. The nonparametric approach opens the door to the examination of potentially different distributed outcomes. When combined with cross-validation, it also identifies potentially...
Persistent link: https://www.econbiz.de/10013099687
The Hicksian definition of complementarity and substitutability may not apply in contexts in which agents are not utility maximisers or where price or income variations, whether implicit or explicit, are not available. We look for tools to identify complementarity and substitutability satisfying...
Persistent link: https://www.econbiz.de/10012928499
This paper extends the widely used ordered choice model by introducing stochastic thresholds and interval-specific outcomes. The model can be interpreted as a generalization of the GAFT (MPH) framework for discrete duration data that jointly models durations and outcomes associated with...
Persistent link: https://www.econbiz.de/10012773457
Asymptotic and bootstrap tests are studied for testing whether there is a relation of stochastic dominance between two distributions. These tests have a null hypothesis of nondominance, with the advantage that, if this null is rejected, then all that is left is dominance. This also leads us to...
Persistent link: https://www.econbiz.de/10014059083
demographic dividend (DD), a boost to per capita income that operates through a chain of causality related to declining fertility …
Persistent link: https://www.econbiz.de/10013061442
stock market returns. We instrument the actual capital gains and dividend payments with past portfolio weights. Unrealized … a flat 5 percent for the rest of the distribution. Households' consumption is significantly more responsive to dividend …
Persistent link: https://www.econbiz.de/10012925516
We assess Africa's prospects for enjoying a demographic dividend. While fertility rates and dependency ratios in Africa … Northern America. This projection suggests Africa has considerable potential to enjoy a demographic dividend. Whether and when …
Persistent link: https://www.econbiz.de/10012983914