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Uncertainty and Stock Returns in Energy Markets: A Quantile Regression Approach
Cedic, Samir; Mahmoud, Alwan; Manera, Matteo; Uddin, … - 2021
The aim of this paper is to analyze the relationship between different types of uncertainty and stock returns of the … uncertainty increases. …
Persistent link: https://www.econbiz.de/10012501729
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Carnegie visits Nobel: Do inheritances affect labor and capital income?
Elinder, Mikael; Erixson, Oscar; Ohlsson, Henry - 2011
The objective of this paper is to study when and how much labor supply and savings of heirs respond to inheritances. We estimate fixed effects models following direct heirs, inheriting in 2004, during the years 2000 - 2008 using Swedish panel data. Our first main result is that the more the heir...
Persistent link: https://www.econbiz.de/10010321389
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Investment and Uncertainty: A Theory-Based Empirical Approach
Carlsson, Mikael - 2004
This paper provides empirical evidence on the dynamic effects of uncertainty on firm-level capital accumulation. A … novelty in this paper is that the firm-level uncertainty indicator is motivated and derived from a theoretical model, the …-correction approach is employed. I find a negative effect of uncertainty on capital accumulation, both in the short and the long run. This …
Persistent link: https://www.econbiz.de/10010321549
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On Environmental Taxation under Uncertainty
Blomquist, Sören; Aronsson, Thomas - 1999
and treated as a random variable by policy makers. The main purpose is to analyze how additional uncertainty about this … good that is causing damage to the environment. …
Persistent link: https://www.econbiz.de/10010321768
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The growth effects of institutional instability
Berggren, Niclas; Bergh, Andreas; Bjørnskov, Christian - 2009
Both institutional quality and institutional stability have been argued to stimulate economic growth. But to improve institutional quality, a country must endure a period of institutional change, which implies at least a little and possibly a lot of institutional instability. We investigate the...
Persistent link: https://www.econbiz.de/10013208542
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Ordering ambiguous acts
Jewitt, Ian; Mukerji, Sujoy - 2017
We investigate what it means for one act to be more ambiguous than another. The question is evidently analogous to asking what makes one prospect riskier than another, but beliefs are neither objective nor representable by a unique probability. Our starting point is an abstract class of...
Persistent link: https://www.econbiz.de/10011927995
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Components of Uncertainty
Larsen, Vegard Høghaug - 2017
Uncertainty is acknowledged to be a source of economic fluctuations. But, does the type of uncertainty matter for the … economy's response to an uncertainty shock? This paper offers a novel identification strategy to disentangle different types … of uncertainty. It uses machine learning techniques to classify different types of news instead of specifying a set of …
Persistent link: https://www.econbiz.de/10012143904
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Contest success functions: The common-pool perspective
Ewerhart, Christian - 2015
The axiomatic route to the foundation of contest success functions (CSF) has proved to be both useful and prolific. The standard approach in the literature is based on the decision-theoretic notion that choice probabilities should be independent of irrelevant alternatives (Skaperdas, Economic...
Persistent link: https://www.econbiz.de/10011282529
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Distortionary, non-distortionary, and distributional properties of environmental taxes: Extension of Sandmo's observation
Page, Talbot; Zhang, Qinghua - 2003
We find a limited parallel between lump-sum taxes and environmental taxes. Corollary 2, which extends Sandmo’s observation, shows that appropriated corrective revenues have the same non-distortionary effects as lump-sum taxes, the result reducing to the original observation when the...
Persistent link: https://www.econbiz.de/10010318913
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Economics of Multifunctional Forestry in the Sámi People Homeland Region
Parkatti, Vesa-Pekka; Tahvonen, Olli - 2020
We study forestry in the Sámi people homeland region to understand an ongoing conflict between conventional forest logging and maintaining forests as reindeer pastures for indigenous people. We use a detailed model that simultaneously includes timber production, carbon storage in living...
Persistent link: https://www.econbiz.de/10012419726