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Chapter 1 is joint work with Günter Franke, University of Konstanz, and Markus Herrmann, HSBC London, and addresses the question how collateralized debt obligation (CDO-) transactions are designed. An important issue is the information asymmetry about the quality of securitized debt between...
Persistent link: https://www.econbiz.de/10009471846
Kooperation in einem einmaligen Spiel. Darüber hinaus finden wir keinen Hinweis darauf, dass Risikoaversion ein Faktor ist …
Persistent link: https://www.econbiz.de/10009476200
We explore the possibility that a systematic relationship exists between employment within a particular type of contract and risk preference. We exploit a set of proxies for risk preference, whereby some of the proxies capture risk loving behaviour (expenditure on gambling, smoking and alcohol)...
Persistent link: https://www.econbiz.de/10009475665
Studies on globalisation suggest that a factor in the growth of nonstandard employment in developed economies has been the growing capacity of multinational corporations to arbitrage wage differentials across countries. This analysis applies in particular to industries subject to direct import...
Persistent link: https://www.econbiz.de/10009482136
The paper deals with margins of entrepreneurship where small business owners are almost working ontheir own having no … the broad margins ofentrepreneurship but also the fluent boarders between entrepreneurship and the informal sector on … particular issue of margins of entrepreneurship not only within theconventional scope of entrepreneurship discussion but within …
Persistent link: https://www.econbiz.de/10009466404
Die zwei Ansätze sind konzeptionell gesehen zweckmäßige Berechnungswege,115um ihregesteckten Ziele zu erreichen. Um die Rentabilitätswirkung der Steuersysteme zu messenund zu vergleichen, muß bei dem Ansatz der effektiven Grenzsteuerbelastung auf eineentscheidungsneutrale...
Persistent link: https://www.econbiz.de/10009471905
The study of consumer behaviour has attracted much attention from researchers.Models have been postulated and re-postulated in many attempts to explain thedecision process of consumers as it changes over time and space, as well as indifferent environments such as culture, race and religion. The...
Persistent link: https://www.econbiz.de/10009440942
homestead wealth on use of nets purchased from the retail sector is well documented, however, the competing influence of mother … were collected at homestead, mother and child (aged < 5 years) levels. An assets-based wealth index was developed using … before the interview; 58% (327) of the nets used were purchased from the retail sector. Homestead wealth (adjusted OR = 10 …
Persistent link: https://www.econbiz.de/10009441399
This paper investigates the effects of wealth on consumer spending in the United States. A traditional life-cycle model … is estimated first. Although it does find a statistically significant wealth effect, its findings are unusable due to the … offered. First, wealth is divided into stock market and non-stock market components, second into liquid and illiquid …
Persistent link: https://www.econbiz.de/10009474974