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A Theory of Social Impact Bonds
Tortorice, Daniel L. - 2020
Social impact bonds (SIBs) are an innovative financing mechanism for public goods. In a SIB, an investor provides capital to a service provider for a social intervention. The investor receives a return based on the outcome of the intervention relative to a predetermined benchmark. We describe...
Persistent link: https://www.econbiz.de/10012829219
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A Theory of Wage Adjustment Under Loss Aversion
Ahrens, Steffen - 2015
We present a new theory of wage adjustment, based on worker loss aversion. In line with prospect theory, the workers' perceived utility losses from wage decreases are weighted more heavily than the perceived utility gains from wage increases of equal magnitude. Wage changes are evaluated...
Persistent link: https://www.econbiz.de/10013031191
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Depression, Risk Preferences and Risk-Taking Behavior
Cobb-Clark, Deborah A. - 2019
Depression affects the way that people process information and make decisions, including those involving risk and … uncertainty. Our objective is to analyze the way that depressive episodes shape risk preferences and risk-taking behaviors. We are … the first to address this issue using large-scale, representative panel data that include both behavioral and stated risk …
Persistent link: https://www.econbiz.de/10012870197
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Hiring a Homosexual, Taking a Risk? A Lab Experiment on Employment Discrimination and Risk Aversion
Baert, Stijn - 2015
We investigate risk aversion as a driver of labour market discrimination against homosexual men. We show that more … hiring discrimination by more risk-averse employers is consistent with taste-based and statistical discrimination. To test … heterosexual or homosexual job candidate. In addition, participants are surveyed on their risk aversion and other characteristics …
Persistent link: https://www.econbiz.de/10013011165
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Distributional Consequences of Labor Demand Adjustments to a Downturn : A Model-Based Approach with Application to Germany 2008-09
Bargain, Olivier - 2010
Macro-level changes can have substantial effects on the distribution of resources at the household level. While it is possible to speculate about which groups are likely to be hardest-hit, detailed distributional studies are still largely backward-looking. This paper suggests a straightforward...
Persistent link: https://www.econbiz.de/10013137252
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High-School Dropouts and Transitory Labor Market Shocks : The Case of the Spanish Housing Boom
Aparicio Fenoll, Ainhoa - 2010
This paper addresses the implications of transitory changes in labor market conditions for low versus high educated workers on the decision to acquire education. To identify this effect, I use the improvement in the labor market prospects of low educated workers motivated by the increases in...
Persistent link: https://www.econbiz.de/10013139032
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Business Cycle Effects of Credit and Technology Shocks in a DSGE Model with Firm Defaults
Pesaran, M. Hashem - 2011
financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined … between loan and deposit rates. The effects of the credit shock tend to be highly persistent even without price rigidities and …
Persistent link: https://www.econbiz.de/10013119292
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The Labor Market Consequences of Adverse Financial Shocks
Boeri, Tito - 2012
shock. Third, we present evidence coherent with the idea that more leveraged sectors experience larger employment volatility … in normal times deep capital markets lead to tight labor markets. After an adverse liquidity shock, firms that rely much …
Persistent link: https://www.econbiz.de/10013099747
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Growing Up in a Recession : Beliefs and the Macroeconomy
Giuliano, Paola - 2009
Do generations growing up during recessions have different socio-economic beliefs than generations growing up in good times? We study the relationship between recessions and beliefs by matching macroeconomic shocks during early adulthood with self-reported answers from the General Social Survey....
Persistent link: https://www.econbiz.de/10013157021
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The German Labor Market During the Great Recession : Shocks and Institutions
Gehrke, Britta - 2018
This paper analyzes Germany's unusual labor market experience during the Great Recession. We estimate a general equilibrium model with a detailed labor market block for post-unification Germany. This allows us to disentangle the role of institutions (short-time work, government spending rules)...
Persistent link: https://www.econbiz.de/10012909849