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On the Persistent Financial Losses of U.S. Airlines : A Preliminary Exploration
Borenstein, Severin - 2011
U.S. airlines have lost nearly $60 billion (2009 dollars) in domestic markets since deregulation, most of it in the last decade. More than 30 years after domestic airline markets were deregulated, the dismal financial record is a puzzle that challenges the economics of deregulation. I examine...
Persistent link: https://www.econbiz.de/10013130786
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The Welfare Economics of Default Options in 401(K) Plans
Bernheim, B. Douglas - 2011
Default contribution rates for 401(k) pension plans powerfully influence workers' choices. Potential causes include opt-out costs, procrastination, inattention, and psychological anchoring. We examine the welfare implications of defaults under each of these theories. We show how the optimal...
Persistent link: https://www.econbiz.de/10013118423
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Enhancing the Efficacy of Teacher Incentives Through Loss Aversion : A Field Experiment
Fryer, Roland G. - 2012
this paper, we demonstrate that exploiting the power of loss aversion--teachers are paid in advance and asked to give back … arm, identical to the loss aversion treatment but implemented in the standard fashion, yields smaller and statistically … insignificant results. This suggests it is loss aversion, rather than other features of the design or population sampled, that leads …
Persistent link: https://www.econbiz.de/10013103529
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The Political Risks of Fighting Market Failures : Subversion, Populism and the Government Sponsored Enterprises
Glaeser, Edward L. - 2012
There are many possible ways of reforming the Government-Sponsored Enterprises that insure mortgages against default, including a purely public option, complete privatization or a hybrid model with private firms and public catastrophic insurance. If the government is sufficiently capable and...
Persistent link: https://www.econbiz.de/10013106080
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Winning by Losing : Evidence on the Long-Run Effects of Mergers
Malmendier, Ulrike - 2012
Do acquirors profit from acquisitions, or do CEOs overbid and destroy shareholder value? We propose a novel approach to measuring the long-run returns to mergers. In a new data set of close bidding contests we use losers' post-merger performance to construct the counterfactual performance of...
Persistent link: https://www.econbiz.de/10013107194
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The Effects of the Length of the Tax-Loss Carryback Period on Tax Receipts and Corporate Marginal Tax Rates
Graham, John R. - 2009
We investigate how the length of the net operating loss carryback period affects corporate liquidity and marginal tax … financial industries. Extending the carryback period would increase the marginal tax rate of loss firms by more than 200 basis …
Persistent link: https://www.econbiz.de/10013157762
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Understanding U.S. Corporate Tax Losses
Altshuler, Rosanne - 2010
Recent data present a puzzle: the ratio of corporate tax losses to positive income was much higher around 2001 than in earlier recessions. Using a comprehensive 1982-2005 sample of U.S. corporation tax returns, we explore a variety of potential explanations for this surge in tax losses, taking...
Persistent link: https://www.econbiz.de/10012758277
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Slow Moving Capital
Mitchell, Mark L. - 2010
We study three cases in which specialized arbitrageurs lost significant amounts of capital and, as a result, became liquidity demanders rather than providers. The effects on security markets were large and persistent: Prices dropped relative to fundamentals and the rebound took months. While...
Persistent link: https://www.econbiz.de/10012760410
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Covering Up Trading Losses : Opportunity-Cost Accounting as an Internal Control Mechanism
Kane, Edward J. - 2010
This paper analyzes the methods of loss concealment used by rogue traders in the Barings and Daiwa scandals. The … traders to build credits that generate a high level of accounting profits. Constructing opportunity-cost measures of profit … to identify the true sources of accounting profit and to challenge counterfeit earnings …
Persistent link: https://www.econbiz.de/10012763823
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Loan Prospecting and the Loss of Soft Information
Agarwal, Sumit - 2014
We study a controlled experiment in which a bank's loan officers were incentivized based on originated loan volume to encourage prospecting for new business. While treated loan officers did attract new applications, both extensive and intensive margins of loan origination expanded (+31% new...
Persistent link: https://www.econbiz.de/10013057822