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The intrinsic value of decision rights
Bartling, Björn; Fehr, Ernst; Herz, Holger - 2014
Philosophers, psychologists, and economists have long argued that certain decision rights carry not only instrumental value but may also be valuable for their own sake. The ideas of autonomy, freedom, and liberty derive their intuitive appeal-at least partly-from an assumed positive intrinsic...
Persistent link: https://www.econbiz.de/10011282466
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The intrinsic value of decision rights
Bartling, Björn; Fehr, Ernst; Herz, Holger - 2013
Philosophers, psychologists, and economists have long argued that certain decision rights carry not only instrumental value but may also be valuable for their own sake. The ideas of autonomy, freedom, and liberty derive their intuitive appeal - at least partly - from an assumed positive...
Persistent link: https://www.econbiz.de/10010316882
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Entrepreneurship and Liquidity Constraints: Evidence from Sweden
Nykvist, Jenny - 2005
between initial wealth and entrepreneurship. However, in a recent paper Hurst and Lusardi (2004) use higher order of … polynomials in wealth and find that there is no relationship between household initial wealth and the probability of starting an … own business throughout most of the wealth distribution in the United States. In this paper we examine this relationship …
Persistent link: https://www.econbiz.de/10010321582
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Wealth Dynamics in the 1980's and 1990's: Sweden and the U.S.
Klevmarken, Anders; Lupton, Joseph; Stafford, Frank - 2000
wealth accumulation in these two countries can be enlightening. In this paper we examine wealth inequality and mobility in … Sweden and the United States over the past decade. We show that wealth inequality has been significantly greater in the U …. In addition to less inequality and a higher median wealth, we also show that wealth quintile mobility in the 1990's has …
Persistent link: https://www.econbiz.de/10010321756
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Consumption smoothing during unemployment
Kolsrud, Jonas - 2011
kink allows me to identify how UI affect the use of private wealth to finance consumption during unemployment spells. Using … significantly larger liquid wealth than men and young singles. …
Persistent link: https://www.econbiz.de/10010321386
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Academic scholarship in light of the 2008 financial crisis: Textual analysis of NBER Working Papers
Levy, Daniel; Mayer, Tamir; Raviv, Alon - 2020
Textual analysis of the NBER Working Papers published during 1999-2016 is done to assess the effects of the 2007-2009 crisis on the academic literature. The volume of crisis-related WPs is counter-cyclical, lagging the financial-instability-index. WPs by the Monetary-Economics, Asset-Pricing,...
Persistent link: https://www.econbiz.de/10012387266
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Equity capital, bankruptcy risk and the liquidity trap
Levintal, Oren - 2011
This paper explains the emergence of liquidity traps in the aftermath of large-scale financial crises, as happened in the US 1930s, Japan 1990s and recently in the US and Europe. The paper introduces a new balance sheet channel that links equity capital to the risk-free interest rate. When...
Persistent link: https://www.econbiz.de/10010335985
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The effects of the saving and banking glut on the U.S. economy
Justiniano, Alejandro; Primiceri, Giorgio E.; … - 2013
We use a quantitative equilibrium model with houses, collateralized debt and foreign borrowing to study the impact of global imbalances on the U.S. economy in the 2000s. Our results suggest that the dynamics of foreign capital flows account for between one fourth and one third of the increase in...
Persistent link: https://www.econbiz.de/10010352184
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Towards a progressive EMU fiscal governance
Álvarez Peralta, Nacho; Feigl, Georg; Koratzanis, Nasos; … - 2019
The fiscal governance of the EMU is in dire need of reform. Its current arrangements suff er from several shortcomings, most notably, the limitations they impose on national fiscal policies, steering them towards too restrictive or pro-cyclical stances; the absence of an unconditional lender of...
Persistent link: https://www.econbiz.de/10014565890
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Pushing the limits: The European Central Bank's role in restoring sustainable growth
Bibow, Jörg - 2020
The European Central Bank (ECB) is a special, even unique central bank. It is a central bank without a treasury by its side or a state behind it, just as the euro, Europe's common currency that the ECB is tasked with guarding, is a 'denationalised' currency. The euro area is a rare exception to...
Persistent link: https://www.econbiz.de/10014565903