Narrow search
Showing 1 - 10 of 150
Cover Image
Going-Concern Debt of Financial Intermediaries
Ma, Yueran; Scheinkman, José - 2022
We study asset and debt characteristics of US bank holding companies. We show that financial institutions, especially large institutions, are not just about holding discrete assets. Services and going-concern values are important, and capital market debt against going-concern values accounts for...
Persistent link: https://www.econbiz.de/10014090770
Cover Image
The Effect of Evaluation on Performance : Evidence from Longitudinal Student Achievement Data of Mid-Career Teachers
Taylor, Eric S. - 2011
The effect of evaluation on employee performance is traditionally studied in the context of the principal-agent problem …. Evaluation can, however, also be characterized as an investment in the evaluated employee's human capital. We study a sample of … mid-career public school teachers where we can consider these two types of evaluation effect separately. Employee …
Persistent link: https://www.econbiz.de/10013128610
Cover Image
Estimation and Evaluation of DSGE Models : Progress and Challenges
Schorfheide, Frank - 2011
advances in the estimation and evaluation of DSGE models, discusses current challenges, and provides avenues for future …
Persistent link: https://www.econbiz.de/10013130259
Cover Image
Estimation and Evaluation of Conditional Asset Pricing Models
Nagel, Stefan - 2010
We find that several recently proposed consumption-based models of stock returns, when evaluated using an optimal set of managed portfolios and the associated model-implied conditional moment restrictions, fail to capture key features of risk premiums in equity markets. To arrive at these...
Persistent link: https://www.econbiz.de/10013137023
Cover Image
Life-Cycle Consumption and the Age-Adjusted Value of Life
Kniesner, Thomas J. - 2012
Our research examines empirically the age pattern of the implicit value of life revealed from workers' differential wages and job safety pairings. Although aging reduces the number of years of life expectancy, aging can affect the value of life through an effect on planned life-cycle...
Persistent link: https://www.econbiz.de/10013115884
Cover Image
Regression Discontinuity Designs with an Endogenous Forcing Variable and an Application to Contracting in Health Care
Bajari, Patrick - 2011
Regression discontinuity designs (RDDs) are a popular method to estimate treatment effects. However, RDDs may fail to yield consistent estimates if the forcing variable can be manipulated by the agent. In this paper, we examine one interesting set of economic models with such a feature....
Persistent link: https://www.econbiz.de/10013117577
Cover Image
How Reliable are De Facto Exchange Rate Regime Classifications?
Eichengreen, Barry - 2011
We analyze disagreements over de facto exchange-rate-regime classifications using three popular de facto regime data series. While there is a moderate degree of concurrence across classifications, disagreements are not uncommon, and they are not random. They are most prevalent in middle-income...
Persistent link: https://www.econbiz.de/10013121069
Cover Image
Aggregation of Consumer Ratings : An Application to Yelp.Com
Dai, Daisy - 2012
Because consumer reviews leverage the wisdom of the crowd, the way in which they are aggregated is a central decision faced by platforms. We explore this "rating aggregation problem" and offer a structural approach to solving it, allowing for (1) reviewers to vary in stringency and accuracy, (2)...
Persistent link: https://www.econbiz.de/10013097277
Cover Image
Mismeasurement of Pensions Before and after Retirement : The Mystery of the Disappearing Pensions with Implications for the Importance of Social Security as a Source of Retirement...
Gustman, Alan L. - 2012
A review of the literature suggests that when pension values are measured by the wealth equivalent of promised DB pension benefits and DC balances for those approaching retirement, pensions account for more support in retirement than is suggested when their contribution is measured by incomes...
Persistent link: https://www.econbiz.de/10013097779
Cover Image
A New Approach to the Valuation of Intangible Capital
Cummins, Jason G. - 2012
In this paper, I argue that intangible capital is not a distinct input to production like physical capital or labor but rather it is the glue that creates value from other inputs. This perspective naturally leads to an empirical model in which intangible capital is defined in terms of adjustment...
Persistent link: https://www.econbiz.de/10013102059