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Individual Rationality and Learning: Welfare Expectations in East Germany Post-Reunification

Frijters, Paul; Haisken-DeNew, John P.; Shields, Michael A. - 2002

large shock to the future prospects of the inhabitants of the former East Germany. We therefore take it as a 'natural … and those with children. However, expectations and realizations of life satisfaction in East Germany had converged by 1995 …

Persistent link: https://www.econbiz.de/10010262741

Cultural transmission and discrimination

Sáez-Martí, María; Zenou, Yves - 2005

Each worker belongs to either the majority or the minority group and, irrespective of the group she belongs to, can have good or bad work habits. These traits are transmitted from one generation to the next through a learning and imitation process which depends on parents' purposeful investment...

Persistent link: https://www.econbiz.de/10010267690

Produce or speculate? Asset bubbles, occupational choice and efficiency

Cahuc, Pierre; Challe, Edouard - 2009

We study the macroeconomic effects of rational asset bubbles in an overlapping-generations economy where asset trading … are large, the private gains associated with trading asset bubbles may lead too many workers to become speculators …, thereby causing rational bubbles to lose their efficiency properties. Moreover, if speculation can be carried out by skilled …

Persistent link: https://www.econbiz.de/10010269510

To see is to believe: Common expectations in experimental asset markets

Cheung, Stephen L.; Hedegaard, Morten; Palan, Stefan - 2012

We challenge the recent claim that mispricing in the experimental asset markets introduced by Smith, Suchanek, and Williams (1988) is merely an artefact of confusion over declining fundamental value, and can be eliminated through appropriate training. We instead propose that when training is...

Persistent link: https://www.econbiz.de/10010289899

An Experimental Study of the POUM Hypothesis

Checchi, Daniele; Filippin, Antonio - 2003

The ?prospect of upward mobility? (POUM) hypothesis formalised by Benabou and Ok (2001a) finds explicit assumptions under which some individuals that are poorer than the average optimally choose to oppose redistribution policies. The underlying intuition is that these individuals rationally...

Persistent link: https://www.econbiz.de/10010261622

Forecasting errors: yet more problems for identification?

Contini, Bruno - 2009

Forecasting errors pose a serious problem of identification, often neglected in empirical applications. Any attempt of estimating choice models under uncertainty may lead to severely biased results in the presence of forecasting errors even when individual expectations on future events are...

Persistent link: https://www.econbiz.de/10010271221

Exchange Rate Volatility Effects on the German Labour Market: A Survey of Recent Results and Extensions

Buscher, Herbert S.; Mueller, Claudia - 1999

In this paper, a survey on theoretically expected and empirically proved impacts of exchange rate volatility is given. With regard to the West German unemployment, the effects of volatility are empirically analysed using three different volatility measures and four country groups. In...

Persistent link: https://www.econbiz.de/10010262270

Employment, exchange rates and labour market rigidity

Alexandre, Fernando; Bação, Pedro; Cerejeira, João; … - 2010

There is increasing evidence that the interaction between shocks and labour market institutions is crucial to understanding the dynamics of employment. In this paper, we show that the inclusion of labour adjustment costs in a trade model affects the impact of exchange rate movements on...

Persistent link: https://www.econbiz.de/10010269855

Are Nascent Entrepreneurs Jacks-of-All-Trades? A Test of Lazear's Theory of Entrepreneurship with German Data

Wagner, Joachim - 2003

economic importance of the jack-of-all-trades theory. …

Persistent link: https://www.econbiz.de/10010261621

Norm-Based Trade Union Membership: Evidence for Germany

Goerke, Laszlo; Pannenberg, Markus - 2003

for social custom effects in the determination of union membership. Using panel data for Germany, we find evidence for …

Persistent link: https://www.econbiz.de/10010261655

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