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Time Varying Risk Aversion
Guiso, Luigi - 2013
response (fear) triggered by a scary experience. To show the plausibility of this conjecture, we conduct a lab experiment. We …
Persistent link: https://www.econbiz.de/10013077968
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Reaching for Yield in the Bond Market
Becker, Bo - 2013
Reaching-for-yield--investors' propensity to buy riskier assets in order to achieve higher yields--is believed to be an important factor contributing to the credit cycle. This paper presents a detailed study of this phenomenon in the corporate bond market. We show that insurance companies, the...
Persistent link: https://www.econbiz.de/10013084730
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First Cabin Fares from New York to the British Isles, 1826-1914
Dupont, Brandon - 2016
We present a continuous time series on first cabin passenger fares for ocean travel from New York to the British Isles … covering nearly a century of time. We discuss the conceptual and empirical difficulties of constructing such a time series, and … movement of the revenue-based fares. We also find that advertised fares declined over time, roughly paralleling the drop in …
Persistent link: https://www.econbiz.de/10012986306
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International Risk Sharing in the Short Run and in the Long Run
Baxter, Marianne - 2011
International risk-sharing has far-reaching implications both for economic policy and for basic research in economics. When countries do not share risk, individuals in those countries experience fluctuations in their consumption levels that are undesirable and possibly unnecessary. This paper...
Persistent link: https://www.econbiz.de/10013129220
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Worker Absence and Productivity : Evidence from Teaching
Herrmann, Mariesa A - 2010
A significant amount of work time is lost each year due to worker absence, but evidence on the productivity losses from …
Persistent link: https://www.econbiz.de/10013136022
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On the Timing and Pricing of Dividends
van Binsbergen, Jules H. - 2010
We recover prices of dividend strips on the aggregate stock market using data from derivatives markets. The price of a k-year dividend strip is the present value of the dividend paid in k years. The value of the stock market is the sum of all dividend strip prices across maturities. We study the...
Persistent link: https://www.econbiz.de/10013137025
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Investing in Our Young People
Cunha, Flavio - 2010
This paper reviews the recent literature on the production of skills of young persons. The literature features the multiplicity of skills that explain success in a variety of life outcomes. Noncognitive skills play a fundamental role in successful lives. The dynamics of skill formation reveal...
Persistent link: https://www.econbiz.de/10013140990
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Competing on Speed
Philippon, Thomas - 2011
Two forces have reshaped global securities markets in the last decade: Exchanges operate at much faster speeds and the trading landscape has become more fragmented. In order to analyze the positive and normative implications of these evolutions, we study a framework that captures (i) exchanges'...
Persistent link: https://www.econbiz.de/10013117526
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Weekends and Subjective Well-Being
Helliwell, John F. - 2011
size and likely determinants of the weekend effects for emotions. Weekend effects are twice as large for full-time paid … differences in the amount of time spent with friends or family between weekends and weekdays (7.1 vs. 5.4 hours). The extra daily … social time of 1.7 hours in weekends raises average happiness by about 2% …
Persistent link: https://www.econbiz.de/10013122657
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Staggered Boards and the Wealth of Shareholders : Evidence from Two Natural Experiments
Bebchuk, Lucian A. - 2011
While staggered boards have been documented to be negatively correlated with firm valuation, such association might be due to staggered boards either bringing about lower firm value or merely reflecting the tendency of low-value firms to have staggered boards. In this paper, we use two natural...
Persistent link: https://www.econbiz.de/10013123700