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Smooth Income Tax Schedules : Derivation and Consequences

Estévez Schwarz, Diana - 2018

Existing tax schedules are often overly complex and characterized by discontinuities in the marginal tax burden. In this paper we propose a class of progressive smooth functions to replace personal income tax schedules. These functions depend only on three meaningful parameters, and avoid the...

Persistent link: https://www.econbiz.de/10012919519

A Job Ladder Model with Stochastic Employment Opportunities

Bradley, Jake - 2018

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

Searching for Rehabilitation in Nonparametric Regression Models with Exogenous Treatment Assignment

Henderson, Daniel J. - 2012

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

Stochastic Complementarity

Manzini, Paola - 2018

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

The Identification and Economic Content of Ordered Choice Models with Stochastic Thresholds

Cunha, Flávio - 2008

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

Testing for Restricted Stochastic Dominance

Davidson, Russell; Duclos, Jean-Yves - 2006

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

The Variability and Volatility of Sleep : An Archetypal Approach

Hamermesh, Daniel S.; Pfann, Gerard A. - 2022

individuals' sleep time exhibits both variability and volatility characterized by stationary autoregressive conditional … young children at home. Volatility is greater among parents with young children, slightly greater among men than women, but … independent of other demographics. A theory of economic incentives to minimize the dispersion of sleep predicts that higher …

Persistent link: https://www.econbiz.de/10014083924

Trading While Sleepy? Circadian Mismatch and Excess Volatility in a Global Experimental Asset Market

Dickinson, David L. - 2017

Traders in global markets operate at different local times-of-day. Suboptimal times-of-day may produce sleepiness due to daily variations in sleep/wake patterns and possibly also increased accumulation of hours awake. Global asset markets imply significantly increased heterogeneity in circadian...

Persistent link: https://www.econbiz.de/10012947730

Frictional Unemployment with Stochastic Bubbles

Vuillemey, Guillaume - 2016

Bubbles are recurrent events, which contribute to both macroeconomic and employment volatility. We introduce stochastic …

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

The Cyclical Volatility of Labor Markets Under Frictional Financial Markets

Petrosky-Nadeau, Nicolas - 2010

Financial frictions are known to raise the volatility of economies to shocks (e.g. Bernanke andGertler 1989). We follow … this line of research to the labor literature concerned by the volatility of labor market outcomes to productivity shocks … are a good candidate to solve the volatility puzzle and rejoin Pissarides (2009) in arguing that hiring costs must be …

Persistent link: https://www.econbiz.de/10013139045