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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

Investigating the Asymmetric Impact of Oil Prices on GCC Stock Markets

Cheikh, Nidhaleddine Ben; Ben Naceur, Samy; Kanaan, … - 2021

This paper investigates the presence of asymmetric relationship between oil price movements and Gulf Cooperation Council (GCC) stock markets. We propose the implementation of nonlinear vector smooth transition regression (VSTR) models which offer a greater flexibility when modelling the possible...

Persistent link: https://www.econbiz.de/10013314986

Equilibrium Wage and Employment Dynamics in a Model of Wage Posting Without Commitment

Coles, Melvyn Glyn - 2011

A rich but tractable variant of the Burdett-Mortensen model of wage setting behavior is formulated and a dynamic market equilibrium solution to the model is defined and characterized. In the model, firms cannot commit to wage contracts. Instead, the Markov perfect equilibrium to the wage setting...

Persistent link: https://www.econbiz.de/10013121547

Minimum Wage and Financially Distressed Firms : Another One Bites the Dust

Alexandre, Fernando - 2020

Since late 2014, Portuguese Governments adopted ambitious minimum wage policies. Using linked employer-employee data, we provide an econometric evaluation of the impact of those policies. Our estimates suggest that minimum wage increases reduced employment growth and profitability, in particular...

Persistent link: https://www.econbiz.de/10012827335

Business Conditions and Default Risks Across Countries

Pflüger, Michael - 2011

The risk of default that business firms face is very significant and differs widely across countries. This paper explores the links between countries' business conditions and international trade embedment and the default risk at the country level from a theoretical point of view. Our main...

Persistent link: https://www.econbiz.de/10013128748

Asymmetric Labor Market Institutions in the Emu and the Volatility of Inflation and Unemployment Differentials

Abbritti, Mirko - 2012

volatility of both inflation and unemployment differentials. Finally, we show that it is important to take into account the …

Persistent link: https://www.econbiz.de/10013107467

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

Government Deficit Shocks and Okun's Coefficient Volatility : New Insights on the Austerity Versus Growth Debate

Binh Thai Pham - 2019

This paper connects two salient economic features: (i) Fiscal shocks have asymmetric effects across business cycle phases (Gechert et al., 2019); (ii) Okun's coefficient is time varying and may be unstable. The intertwined dynamic behavior of fiscal shocks and unemployment-output trade-offs are...

Persistent link: https://www.econbiz.de/10012864881

Why is Old Workers' Labor Market More Volatile? Unemployment Fluctuations Over the Life-Cycle

Hairault, Jean-Olivier - 2014

Since the last recession, it is usually argued that older workers are less affected by the economic downturn because their unemployment rate rose less than the one of prime-age workers. This view is a myth: older workers are more sensitive to the business cycle. We document volatilities of...

Persistent link: https://www.econbiz.de/10013055568

Flexibility at the Margin and Labor Market Volatility in OECD Countries

Sala, Hector; Silva, José Ignacio; 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

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