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Fruit and vegetable sectors are principally seen as sectors where small producers are able to participate due to their low demand on land and their high labor requirements. However, the concerns exists that small producers' participation in the international fruit and vegetable trade could be...
Persistent link: https://www.econbiz.de/10009302570
We solve the problem of optimal securitization for an issuer facing heterogeneous investorswith arbitrary time and risk preferences. We show that the optimal securitizationis characterized by multiple nonlinear tranches, and each investor gets a portfolio of thesetranches. In particular, when...
Persistent link: https://www.econbiz.de/10009305109
Economists have forcefully argued for the introduction and use of property derivatives as a hedge against house price risk (e.g. Shiller and Weiss, 1999). The rationale for these financial instruments seems clear, as many households are heavily invested in housing and standard financial...
Persistent link: https://www.econbiz.de/10005858211
Like many financial contracts, derivatives are subject to default risk. A very popular mechanism in derivatives markets to mitigate the risk of non-performance on contracts is margining. By attaching collateral to a contract, margining supposedly reduces default risk. The broader impacts of the...
Persistent link: https://www.econbiz.de/10005858762
The paper investigates the determinants of trade credit and its interactions with borrowing constraints and the input combination of the firm, within an incomplete contract setting in which firms use a two-input technology and collateralised credit contracts. Assuming that the supplier is better...
Persistent link: https://www.econbiz.de/10005858766
In this paper, we explore the relationship between non-compliance with bargained minimum wages and employment. We … firms choose their desired levels of employment and non-compliance. We show that when employers internalize the expected … costs of non-compliance, the effect of deviating from the bargained minimum wages on employment levels are modest, or null …
Persistent link: https://www.econbiz.de/10012294327
Unternehmen erwirtschaften über die Absatzmärkte mit ihren Angeboten Umsätzeund Gewinne. Je besser dabei die Kundenwünsche durch die Unternehmenbedient werden, umso höher sind die Umsätze und Gewinne. Das Produkt- undProgrammmanagement ist also eine der wesentlichen Aufgaben der...
Persistent link: https://www.econbiz.de/10005868888
Using a unique micro panel data set we investigate whether active labor market programs improve employment prospects and increase mobility in the longer run. We consider two prototype programs: job creation programs and training programs. We find that both programs reduce the chances of finding...
Persistent link: https://www.econbiz.de/10010321597
This paper implements a method to identify and estimate treatment effects in a dynamic setting where treatments may occur at any point in time. By relating the standard matching approach to the timing-of-events approach, it demonstrates that effects of the treatment on the treated at a given...
Persistent link: https://www.econbiz.de/10010273915
We extend the standard evaluation framework to allow for interactions between individuals within segmented markets. An individual's outcome depends not only on the assigned treatment status but also on (features of) the distribution of treatments in his market. To evaluate how the distribution...
Persistent link: https://www.econbiz.de/10010273977