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This paper evaluates the return on equity using novel data on the consumption of luxury goods. Specifying household utility as a nonhomothetic function of the consumption of both a luxury good and a basic good, we derive and evaluate the riskiness of equity in such a world. Household survey and...
Persistent link: https://www.econbiz.de/10012470302
We examine a model of conspicuous consumption and explore the nature of competition in markets for conspicuous goods. We assume that, in addition to intrinsic utility, individuals seek status, and that perceptions of wealth affect status. Under identifiable conditions, the model generates Veblen...
Persistent link: https://www.econbiz.de/10012474805
This paper provides novel field-experimental evidence on status goods. We work with an Indonesian bank that markets platinum credit cards to high-income customers. In a first experiment, we show that demand for the platinum card greatly exceeds demand for a nondescript control product with...
Persistent link: https://www.econbiz.de/10012455267
We examine how executives' behavior outside the workplace, as measured by their ownership of luxury goods (low "frugality") and prior legal infractions, is related to financial reporting risk. We predict and find that CEOs and CFOs with a legal record are more likely to perpetrate fraud. In...
Persistent link: https://www.econbiz.de/10012460658
Tourism is a tradable service activity that could allow some African countries to generate significant growth. Tanzania, given its unique natural assets, is an ideal candidate. However, despite being so richly endowed in touristic resources, Tanzania receives very few tourists and revenues from...
Persistent link: https://www.econbiz.de/10012460756
United Kingdom and Canada: both countries experienced similar slowdowns in the rate of growth of educational attainment …
Persistent link: https://www.econbiz.de/10012471112
Were high import tariffs somehow related to the strong U.S. economic growth during the late nineteenth century? This paper examines this frequently mentioned but controversial question and investigates the channels by which tariffs could have promoted growth during this period. The paper shows...
Persistent link: https://www.econbiz.de/10012471128
This paper utilizes a unique dataset collected through site visits to extend the analysis of the relationship between the human resource management environment and establishment performance to the service sector, specifically the branch operations of a large bank. Case studies of several...
Persistent link: https://www.econbiz.de/10012471309
We present a model that shows that exchange rate pass-through is likely to be substantially altered when firms face antidumping (AD) duties and that optimal pass-through of AD duties may be up to 200 percent. We examine both pass-through issues using monthly prices across 345 U.S.- imported...
Persistent link: https://www.econbiz.de/10012471406
, from other jurisdictions. This omission is particularly disturbing in the case of Canada, which now has some of the most … occupational gender segregation in Canada and its consequences for wages. The sample period precedes many provincial pay equity … penalties in female jobs in Canada are generally much smaller than the estimates for the United States. Although there is some …
Persistent link: https://www.econbiz.de/10012471413