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Tourism and Economic Development : Evidence from Mexico's Coastline

Faber, Benjamin - 2016

Tourism is a fast-growing services sector in developing countries. This paper combines a rich collection of Mexican … consequences of tourism both locally and in the aggregate. We find that tourism causes large and significant local economic gains … regions, so that the national gains from trade in tourism are mainly driven by a classical market integration effect …

Persistent link: https://www.econbiz.de/10012989735

Bullying Among Adolescents : The Role of Cognitive and Non-Cognitive Skills

Sarzosa, Miguel - 2015

Bullying is a behavioral phenomenon that has received increasing attention in recent times. This paper uses a structural model with latent skills and longitudinal information from Korean youths to identify the determinants and effects of bullying. We find that, unlike cognitive skills,...

Persistent link: https://www.econbiz.de/10013013521

Covid-19 and SME Failures

Gourinchas, Pierre-Olivier; Kalemli-Ozcan, Sebnem; … - 2021

We estimate the impact of COVID-19 on business failures for small and medium sized enterprises (SMEs) using firm-level data in seventeen countries. Absent government support, the failure rate of SMEs would have increased by 9.1 percentage points, representing 4.6 percent of private sector...

Persistent link: https://www.econbiz.de/10013244116

Moderate Inflation

Dornbusch, Rudiger; Fischer, Stanley - 2021

Inflation persists at moderate rates of 15-30 percent in all the countries that successfully reduced triple digit inflations in the 1980s. Several other countries, for example Colombia, have experienced moderate inflation for prolonged periods. In this paper we first set out theories of...

Persistent link: https://www.econbiz.de/10013245721

Individual Preferences, Monetary Gambles and the Equity Premium

Barberis, Nicholas - 2009

We argue that narrow framing, whereby an agent who is offered a new gamble evaluates that gamble in isolation, separately from other risks she already faces, may be a more important feature of decision-making under risk than previously realized. To demonstrate this, we present evidence on...

Persistent link: https://www.econbiz.de/10012767726

Measuring the Output and Prices of the Lottery Sector : An Application of Implicit Expected Utility Theory

Yu, Kam - 2008

Using implicit expected utility theory, a money metric of utility derived from playing a lottery game is developed. Output of the lottery sector can be defined as the difference in utility with and without the game. Using a kinked parametric functional form, outputs of the Canadian Lotto 6/49...

Persistent link: https://www.econbiz.de/10012771827

Governance, Risk Management, and Risk-Taking in Banks

Stulz, René M. - 2014

This paper examines how governance and risk management affect risk-taking in banks. It distinguishes between good risks, which are risks that have an ex ante private reward for the bank on a stand-alone basis, and bad risks, which do not have such a reward. A well-governed bank takes the amount...

Persistent link: https://www.econbiz.de/10013051309

Leverage and Beliefs : Personal Experience and Risk Taking in Margin Lending

Koudijs, Peter - 2014

What determines risk-bearing capacity and the amount of leverage in financial markets? Using unique archival data on collateralized lending, we show that personal experience can affect individual risk-taking and aggregate leverage. When an investor syndicate speculating in Amsterdam in 1772 went...

Persistent link: https://www.econbiz.de/10013057407

Less of a Luxury : The Rise of Recreation Since 1888

Costa, Dora L. - 2022

I show that recreation has become much more egalitarian over the last hundred years by estimating recreational expenditure elasticities in 1888-1890, 1917-1919, 1935-1936, 1972-1973, and 1991. I find that expenditure elasticities have fallen from around two at the beginning of the century to...

Persistent link: https://www.econbiz.de/10014158057

Financing Outdoor Recreation

Banzhaf, H. Spencer; Smith, V. Kerry - 2022

The National Park Service and other agencies have argued that our recreation lands face a crisis of deferred maintenance. This paper evaluates two proposals for funding public lands, increasing gate fees and taxing recreational gear. It analyzes the joint welfare effects of such taxes and the...

Persistent link: https://www.econbiz.de/10013294774

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