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Testing CAPM with a Large Number of Assets

Pesaran, M. Hashem - 2012

This paper is concerned with testing the time series implications of the capital asset pricing model (CAPM) due to … evidence against Sharpe-Lintner CAPM is found mainly during the recent financial crisis. Furthermore, a strong negative …

Persistent link: https://www.econbiz.de/10013107698

Flexibility at the Margin and Labor Market Volatility in OECD Countries

Sala, Hector; Silva, José I.; Toledo, Manuel - 2021

achieve similar volatility than fully deregulated labor markets. Flexibility at the margin produces a gap in separation costs … de labor market volatility. This increased volatility is partially reverted when limitations in the duration and number … explain the similar volatility observed in many regulated OECD labor markets with flexibility at the margin vis-à-vis the …

Persistent link: https://www.econbiz.de/10013324855

The Effect of Immigration on the School Performance of Natives : Cross Country Evidence Using PISA Test Scores

Brunello, Giorgio - 2011

We study whether a higher share of immigrant pupils affects the school performance of natives using aggregate multi-country data from PISA. We find evidence of a negative and statistically significant relationship. The size of the estimated effect is small: doubling the share of immigrant pupils...

Persistent link: https://www.econbiz.de/10013129941

Solow or Lucas? Testing Speed of Convergence on a Panel of OECD Countries

Arnold, Jens Matthias - 2010

We test whether the growth experience of a sample of 21 OECD countries over the past three decades is more consistent with the augmented Solow model or the Uzawa-Lucas model, by exploiting the different non-linear restrictions implied by them as regards the relationship between factor shares and...

Persistent link: https://www.econbiz.de/10013136719

Immigration, Growth and Unemployment : Panel VAR Evidence from OECD Countries

Boubtane, Ekrame - 2012

This paper examines empirically the interaction between immigration and host country economic conditions. We employ panel VAR techniques to use a large annual dataset on 22 OECD countries over the period 1987-2009. The VAR approach allows to addresses the endogeneity problem by allowing the...

Persistent link: https://www.econbiz.de/10013098455

Redistributive Preferences, Redistribution, and Inequality : Evidence from a Panel of OECD Countries

Kuhn, Andreas - 2012

This paper describes individuals' inequality perceptions, distributional norms, and redistributive preferences in a panel of OECD countries, primarily focusing on the association between these subjective measures and the effective level of inequality and redistribution. Not surprisingly, the...

Persistent link: https://www.econbiz.de/10013103481

The Role of Income and Immigration Policies in Attracting International Migrants

Ortega, Francesc - 2012

This paper makes two contributions to the literature on the determinants of international migration flows. First, we compile a new dataset on annual bilateral migration flows covering 15 OECD destination countries and 120 sending countries for the period 1980-2006. We also collect data on...

Persistent link: https://www.econbiz.de/10013104662

Dismissal Protection and Worker Flows in OECD Countries : Evidence from Cross-Country/Cross-Industry Data

Bassanini, Andrea - 2012

Exploiting a unique dataset including cross-country comparable hiring and separation rates by type of transition for 24 OECD countries, 23 business-sector industries and 13 years, we study the effect of dismissal regulations on different types of gross worker flows, defined as one-year...

Persistent link: https://www.econbiz.de/10013106637

Income Inequality and Saving

Alvarez-Cuadrado, Francisco - 2013

Over the last three decades, average income for the bottom half of the US distribution increased by 8% while their average saving rate decreased by eight percentage points. Over the same period the US experienced a substantial increase in inequality and a continuous decrease in the aggregate...

Persistent link: https://www.econbiz.de/10013088975

Are Labor Force Participation Rates Really Non-Stationary? Evidence from Three OECD Countries

Ozdemir, Zeynel Abidin - 2014

This paper shows that the structural breaks are an important characteristic of the monthly labor force participation rate (LFPR) series of Australia, Canada and the USA. Therefore we allow for endogenously determined multiple structural breaks in the empirical specifications of fractionally...

Persistent link: https://www.econbiz.de/10013065313

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