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Hobijn, Bart; Sahin, Aysegül - 2007

We study the effects of labor market rigidities and frictions on firm-size distributions and dynamics. We introduce a model of endogenous entrepreneurship, labor market frictions, and firm-size dynamics with many types of rigidities, such as hiring and firing costs, search frictions with vacancy...

Persistent link: https://www.econbiz.de/10010283302

Job-finding and separation rates in the OECD

Hobijn, Bart; Sahin, Aysegül - 2007

In this paper, we provide a set of comparable estimates of aggregate monthly job-finding and separation rates for twenty-seven OECD (Organisation for Economic Co-operation and Development) countries; these estimates can be used for the cross-country calibration of search models of unemployment....

Persistent link: https://www.econbiz.de/10010283485

Subsidizing job creation in the Great Recession

Kitao, Sagiri; Sahin, Aysegül; Song, Joseph - 2010

We analyze the effects of various labor market policies on job creation, job destruction, and employment. The framework … consider the equilibrium effects of a hiring subsidy, a payroll tax reduction, and an employment subsidy. While calibrating … parameters that characterize these policies, we try to mimic the policies in the Hiring Incentives to Restore Employment (HIRE …

Persistent link: https://www.econbiz.de/10010287122

Market sidedness: Insights into motives for trade initiation

Sarkar, Asani; Schwartz, Robert A. - 2007

In this paper, we infer motives for trade initiation from market sidedness. We define trading as more two-sided (one-sided) if the correlation between the numbers of buyerand seller-initiated trades increases (decreases), and assess changes in sidedness (relative to a control sample) around...

Persistent link: https://www.econbiz.de/10010283298

Common determinants of bond and stock market liquidity: The impact of financial crises, monetary policy, and mutual fund flows

Chordia, Tarun; Sarkar, Asani; Subrahmanyam, Avanidhar - 2001

We study common determinants of daily bid-ask spreads and trading volume for the bond and stock markets over the 1991-98 period. We find that spread changes in one market are affected by lagged spread and volume changes in both markets. Further, spread and volume changes are predictable to a...

Persistent link: https://www.econbiz.de/10010283309

Fifteen minutes of fame? The market impact of internet stock picks

Antunovich, Peter; Sarkar, Asani - 2003

We examine 120 Nasdaq and Over-the-Counter buy recommendations made by Internet sites from April 1999 to June 2001. The stock picks show substantial short- and long-run price and liquidity gains, although no new information is revealed about them. For example, liquidity one year after the pick...

Persistent link: https://www.econbiz.de/10010283358

The incentive effects of higher education subsidies on student effort

Sahin, Aysegül - 2004

This paper uses a game-theoretic model to analyze the disincentive effects of low-tuition policies on student effort. The model of parent and student responses to tuition subsidies is then calibrated using information from the National Longitudinal Survey of Youth 1979 and the High School and...

Persistent link: https://www.econbiz.de/10010283370

An empirical analysis of stock and bond market liquidity

Chordia, Tarun; Sarkar, Asani; Subrahmanyam, Avanidhar - 2003

This paper explores liquidity movements in stock and Treasury bond markets over a period of more than 1800 trading days. Cross-market dynamics in liquidity are documented by estimating a vector autoregressive model for liquidity (that is, bid-ask spreads and depth), returns, volatility, and...

Persistent link: https://www.econbiz.de/10010283415

Two-sided markets and intertemporal trade clustering: Insights into trading motives

Sarkar, Asani; Schwartz, Robert A. - 2006

We show that equity markets are typically two-sided and that trades cluster in certain trading intervals for both NYSE and Nasdaq stocks under a broad range of conditions-news and non-news days, different times of the day, and a spectrum of trade sizes. By “two-sided” we mean that the...

Persistent link: https://www.econbiz.de/10010283439

The joint dynamics of liquidity, returns, and volatility across small and large firms

Chordia, Tarun; Sarkar, Asani; Subrahmanyam, Avanidhar - 2005

This paper explores liquidity spillovers in market-capitalization-based portfolios of NYSE stocks. Return, volatility, and liquidity dynamics across the small- and large-cap sectors are modeled by way of a vector autoregression model, using data that spans more than 3,000 trading days. We find...

Persistent link: https://www.econbiz.de/10010283461