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Pesaran, M. Hashem - 2011

Academic macroeconomics and the research department of central banks have come to be dominated by Dynamic, Stochastic, General Equilibrium (DSGE) models based on micro-foundations of optimising representative agents with rational expectations. We argue that the dominance of this particular sort...

Persistent link: https://www.econbiz.de/10013126144

From Shame to Game in One Hundred Years : An Economic Model of the Rise in Premarital Sex and its De-Stigmatization

Fernández-Villaverde, Jesús - 2010

Societies socialize children about many things, including sex. Socialization is costly. It uses scarce resources, such as time and effort. Parents weigh the marginal gains from socialization against its costs. Those at the lower end of the socioeconomic scale indoctrinate their daughters less...

Persistent link: https://www.econbiz.de/10013148290

Economics and Epidemics : Evidence from an Estimated Spatial Econ-Sir Model

Bognanni, Mark; Hanley, Douglas; Kolliner, Daniel; … - 2021

Economic analysis of effective policies for managing epidemics requires an integrated economic and epidemiological approach. We develop and estimate a spatial, micro-founded model of the joint evolution of economic variables and the spread of an epidemic. We empirically discipline the model...

Persistent link: https://www.econbiz.de/10013315164

Distributive Justice and CEO Compensation

Jasso, Guillermina; Meyersson Milgrom, Eva M. - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007

This paper develops a framework for studying individuals ideas about what constitutes justcompensation for chief executive officers (CEOs) and reports estimates of just CEO pay andthe principles guiding ideas of justice. The sample consists of students pursuing a Master ofBusiness Administration...

Persistent link: https://www.econbiz.de/10005861085

Trust and the Choice between Housing and Financial Assets : Evidence from Spanish Households

El-Attar, Mayssun - 2010

. We extend the analysis of the effect of trust on portfolio choice to include the dominant component of households …' portfolios, real estate. In a simple model, we show how the effect of trust on expected investment returns affects portfolio … composition, including the share of real estate. Using data from the European Social Survey, we estimate individual-level trust as …

Persistent link: https://www.econbiz.de/10013136779

Is Earnings Uncertainty Relevant for Educational Choice? An Empirical Analysis for China

Hartog, Joop - 2011

We use the method of Dominitz and Manski (1996) to solicit anticipated wage distributions for continuing to a Master degree or going to work after completing the Bachelor degree. The means of the distributions have an effect on intention to continue as predicted by theory. The dispersions in...

Persistent link: https://www.econbiz.de/10013125451

Competition and Educational Productivity : Incentives Writ Large

MacLeod, W. Bentley - 2012

Friedman (1962) suggested that in general, unfettered markets ensure the efficient provision of goods and services. Applying this logic to Education, he recommended that students be provided with vouchers and allowed to purchase schooling services in a free market ((Friedman (1955, 1962)). Hoxby...

Persistent link: https://www.econbiz.de/10013096438

Medical Marijuana Laws and Teen Marijuana Use

Anderson, D. Mark - 2013

While at least a dozen state legislatures are considering bills to allow the consumption of marijuana for medicinal purposes, the federal government has recently intensified its efforts to close medical marijuana dispensaries. Federal officials contend that the legalization of medical marijuana...

Persistent link: https://www.econbiz.de/10013090779

A Risk Augmented Mincer Earnings Equation? Taking Stock

Hartog, Joop - 2009

We survey the literature on the Risk Augmented Mincer equation that seeks to estimate the compensation for uncertainty in the future wage to be earned after completing an education. There is wide empirical support for the predicted positive effect of wage variance and the negative effect of wage...

Persistent link: https://www.econbiz.de/10013155555

Linking Individuals and Societies

Jasso, Guillermina - 2009

How do individuals shape societies? How do societies shape individuals? This paper develops a framework for studying the connections between micro and macro phenomena. The framework builds on two ingredients widely used in social science − population and variable. Starting with the simplest...

Persistent link: https://www.econbiz.de/10013158050