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We derive a model in which a standard international capital asset pricing (ICAPM) model is nested within an ICAPM model with market imperfections. In the latter model an idiosyncratic stochastic factor affects the return of risky assets (over a risk-free rate) on top of the systematic component...
Persistent link: https://www.econbiz.de/10010325654
The initial purpose of this study was to establish the effect of childhood conditions on longevity from the Brabant … individuals born around 1940 in the Dutch province of North Brabant. Proportional hazard analysis confirms the known association …
Persistent link: https://www.econbiz.de/10010326427
The Brabant Data Set, now freely accessible, contains informationon a sample cohort of 3,000 individuals born around …
Persistent link: https://www.econbiz.de/10010326478
This technical note consists of three parts. The first describes theorigins of the Brabant data set, the later surveys …
Persistent link: https://www.econbiz.de/10010326549
We ask individuals for their reservation price of a specified lotteryand deduce their Arrow-Pratt measure of risk aversion.This allows direct testing of common hypotheses on risk attitudes inthree datasets. We find that risk aversion indeed fallswith income and wealth. Entrepreneurs are less...
Persistent link: https://www.econbiz.de/10010324557
In this paper we estimate, for the 1989-93 period in Belgium, the effect of vocational classroom training on therate of transition out of unemployment. We show that rationing of the demand for training increases theunemployment duration of non-participants, an effect neglected in programme...
Persistent link: https://www.econbiz.de/10010324504
This paper studies the effect of urban trees on house prices in Amsterdam by utilizing a detailed data set of trees that were cut-down near the house. By using exogenous reasons the tree was cut-down such as disease or storm, unobserved heterogeneity can be dealt with, and a causal effect...
Persistent link: https://www.econbiz.de/10014469538
We combine data from the Amsterdam secondary-school match with register data and survey data to estimate the effects of not being assigned to one's first-ranked school on academic outcomes and on a wide range of other outcomes. For identification we use that secondaryschool assignment in...
Persistent link: https://www.econbiz.de/10014469645
A large literature has emerged focusing on the post-entry performance of firms and, in particular, on thelinks between firm growth, survival, size and age. While these studies have resulted in findings that aresufficiently consistent as to constitute Stylized Facts, virtually all of these...
Persistent link: https://www.econbiz.de/10010324693
When firms decide to change office space use, in many instances this involves relocation. Relocation involves sizablecosts to the firm that can to a large extent be characterized as lump sum, i.e. independent of the change in demand. Inthis paper we propose and solve a model of the demand for...
Persistent link: https://www.econbiz.de/10010324696