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cyclical increases in income may raise mortality, even when the long-run effects of income are in the opposite direction. There … is no evidence that recent increases in inequality raised mortality beyond what it would otherwise have been …
Persistent link: https://www.econbiz.de/10013252306
We propose a dynamic production function of population health and mortality from birth onwards. Our parsimonious model … provides an excellent fit for the mortality and survival curves for both primate and human populations since 1816. The model … mortality gradients across socio-economic statuses, (ii) non-monotonic dynamic effects of in-utero shocks, (iii) persistent or …
Persistent link: https://www.econbiz.de/10014089681
Social impact bonds (SIBs) are an innovative financing mechanism for public goods. In a SIB, an investor provides capital to a service provider for a social intervention. The investor receives a return based on the outcome of the intervention relative to a predetermined benchmark. We describe...
Persistent link: https://www.econbiz.de/10013296587
Treasury bills and other near-money assets provide owners with liquidity service benefits that are reflected in prices in the form of a liquidity premium. I relate time variation in this liquidity premium to changes in the opportunity cost of money: The liquidity service benefits of near-money...
Persistent link: https://www.econbiz.de/10013051746
A large literature following Ruhm (2000) suggests that mortality falls during recessions and rises during booms. The … of the relationship between business cycles and mortality are highly sensitive to assumptions related to migration. After … adjusting for migration, we find that mortality increased during the cotton recession, but was largely unaffected by the coal …
Persistent link: https://www.econbiz.de/10012954452
individuals' subjective believes of their mortality risk. Previous studies have shown that individual responses on subjective …
Persistent link: https://www.econbiz.de/10013226056
In a model where a variable Y[sub t] is proportional to the present value, with constant discount rate, of expected future values of a variable y[sub t] the quot;spreadquot; S[sub t]= Y[sub t] - [theta sub t] will be stationary for some [theta] whether or not y[sub t]must be differenced to...
Persistent link: https://www.econbiz.de/10012763269
economic theory in which the permanent component represents real influences, while the transitory component represents …
Persistent link: https://www.econbiz.de/10013324058
verified. Then, we examine whether the non-stationary CDS and bond spreads series are bound by a cointegration relationship …. Overall the cointegration analysis confirms that the two prices should be equal to each other in equilibrium, as theory …This analysis tests the price discovery relationship between sovereign CDS premia and bond yield spreads on the same …
Persistent link: https://www.econbiz.de/10013118422
We examine whether there is a flight-to-liquidity premium in Treasury bond prices by comparing them with prices of …
Persistent link: https://www.econbiz.de/10012787067