Showing 1 - 10 of 366
Political economists interested in discerning the effects of election outcomes on the economy have been hampered by the problem that economic outcomes also influence elections. We sidestep these problems by analyzing movements in economic indicators caused by clearly exogenous changes in...
Persistent link: https://www.econbiz.de/10010267661
Political economists interested in discerning the effects of election outcomes on the economy have been hampered by the problem that economic outcomes also influence elections. We sidestep these problems by analyzing movements in economic indicators caused by clearly exogenous changes in...
Persistent link: https://www.econbiz.de/10005703211
This paper presents evidence suggesting men's (but not women's) risk and time preferences have systematically become … for 22,579 Australian-based respondents in up to 11 surveys from 2002-2015, men respond with increased risk aversion and … since 2008. This 'happiness channel' only partially explains the link between the local unemployment rate and risk …
Persistent link: https://www.econbiz.de/10012207735
combining data from multiple surveys, we create an integrated measure of volatility in available household resources, accounting … different groups are exposed to economic risk. As the ESI derives from a data-independent conceptual foundation, it can be …
Persistent link: https://www.econbiz.de/10010289981
measurement in influencing economic decisions. They attempt to measure uncertainty by indexes of volatility of the stock market … although risk can be measured, uncertainty cannot be measured. Even though risk can be measured, a simple symmetric measure … attempt at "measuring" risk or (fundamental) uncertainty is flawed. …
Persistent link: https://www.econbiz.de/10011559672
We examine supply-side determinants of transition from the wage and salary sector to self-employment of women and men living Poland. The empirical analysis is made possible due to a unique and under explored longitudinal survey -- Social Diagnosis – that contains rare indicators such as job...
Persistent link: https://www.econbiz.de/10012141279
What is the relationship between economic growth and its volatility? Does political instability affect growth directly … or indirectly, through volatility? This paper tries to answer such questions using a power-ARCH framework with annual … legislative changes) has an indirect (through volatility) negative impact. We also find preliminary support for the idea that …
Persistent link: https://www.econbiz.de/10010268236
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/10010276682
This paper investigates the role that idiosyncratic uncertainty plays in shaping social preferences over the degree of labor market flexibility, in a general equilibrium model of dynamic labor demand where the productivity of firms evolves over time as a Geometric Brownian motion. A key result...
Persistent link: https://www.econbiz.de/10010268688
exogenous risk and delegation. That is, we show that only if exogenous risk is sufficiently large, the risk-neutral principal … may prefer to delegate authority over decisions to the risk-averse agent. Intuitively, for incentive reasons, the … principal may optimally want to allow the agent to reduce his risk exposure. Nevertheless, even endogenous risk may be higher …
Persistent link: https://www.econbiz.de/10010268503