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Consistent Valuation and Cost of Capital Expressions with Corporate and Personal Taxes
Taggart, Robert A. - 2002
This paper examines three valuation methods, each of which should lead to the same value for a given asset. These are the Adjusted Present Value, Adjusted Discount Rate and Flows to Equity methods. To achieve identical valuations, however, the different methods must be implemented with cost of...
Persistent link: https://www.econbiz.de/10012787478
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Taxation, Corporate Financial Policy and the Cost of Capital
Auerbach, Alan J. - 2021
The cost of capital plays an important role in the allocation of resources among competing uses in a decentralized market system. The purpose of this paper is to organize and present what is known and what is hypothesized about the effects of taxation on the incentive to invest, via the cost of...
Persistent link: https://www.econbiz.de/10013232028
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Personality Psychology and Economics
Almlund, Mathilde - 2011
This paper explores the power of personality traits both as predictors and as causes of academic and economic success, health, and criminal activity. Measured personality is interpreted as a construct derived from an economic model of preferences, constraints, and information. Evidence is...
Persistent link: https://www.econbiz.de/10013127755
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Trends in the Transitory Variance of Male Earnings in the U.S., 1970-2004
Moffitt, Robert A. - 2011
We estimate the trend in the transitory variance of male earnings in the U.S. using the Michigan Panel Study of Income …
Persistent link: https://www.econbiz.de/10013129122
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Why is an Elite Undergraduate Education Valuable? Evidence from Israel
Lang, Kevin - 2011
In this paper we compare the labor market performance of Israeli students who graduated from one of the leading universities, Hebrew University (HU), with those who graduated from a professional undergraduate college, College of Management Academic Studies (COMAS). Our results support a model in...
Persistent link: https://www.econbiz.de/10013130976
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The War at Home : Effects of Vietnam-Era Military Service on Post-War Household Stability
Conley, Dalton - 2011
service on health and income. This research has shown that effects of veteran status on mortality and earnings that appeared …
Persistent link: https://www.econbiz.de/10013131668
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Optimal Price Indices for Targeting Inflation Under Incomplete Markets
Anand, Rahul - 2011
In models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. In this paper, we develop a two-sector two-good closed economy new Keynesian model to study the optimal choice of price index in markets with...
Persistent link: https://www.econbiz.de/10013133080
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Life at the Top : The Benefits of Height
Deaton, Angus - 2011
explained by the positive association between height and both income and education, both of which are positively linked to …
Persistent link: https://www.econbiz.de/10013134585
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The Economic Value of Higher Teacher Quality
Hanushek, Eric A. - 2010
Most analyses of teacher quality end without any assessment of the economic value of altered teacher quality. This paper combines information about teacher effectiveness with the economic impact of higher achievement. It begins with an overview of what is known about the relationship between...
Persistent link: https://www.econbiz.de/10013135061
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The Increase in Income Cyclicality of High-Income Households and its Relation to the Rise in Top Income Shares
Parker, Jonathan A. - 2010
We document a large increase in the cyclicality of the incomes of high-income households, coinciding with the rise in … their share of aggregate income. In the U.S., since top income shares began to rise rapidly in the early 1980s, incomes of … those in the top 1 percent of the income distribution have averaged 14 times average income and been 2.4 times more cyclical …
Persistent link: https://www.econbiz.de/10013135402