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Implied rates of return, the discount rate effect, and market risk premia

Breuer, Wolfgang; Gürtler, Marc - 2010 - This Version: 2010-10-22

We show analytically under quite general conditions that implied rates of return based on analysts' earnings forecasts are only a downward biased estimator for future expected one-period returns and therefore not suited for computing market risk premia. The extent of this bias is substantial as...

Persistent link: https://www.econbiz.de/10009487229

Open labor markets and firms' substitution between training apprentices and hiring workers

Aepli, Manuel; Kuhn, Andreas - 2019

In this paper, we study whether Swiss employers substitute between training apprentices and hiring cross-border workers. Because both training apprentices and hiring skilled workers are costly for firms, we hypothesize that (easier) access to cross-border workers will lead some employers to...

Persistent link: https://www.econbiz.de/10012036439

German FDI in the Czech Republic : employment effects in the home country

Schäffler, Johannes; Moritz, Michael - 2018

Instituts für Arbeitsmarkt- und Berufsforschung (IAB) wurde diese Datenbank nun mit den IAB-Beschäftigungsdaten verknüpft. Da …

Persistent link: https://www.econbiz.de/10011795276

The use of flexible working contracts in West Germany : evidence from an establishment panel

Boockmann, Bernhard; Hagen, Tobias - 2001

This paper investigates under which conditions firms use fixed-term contracts, subcontracted and freelance work. Using a probit model which accounts for unobserved heterogeneity, we find that positive changes in expected or actual turnover are associated with a higher probability of employing...

Persistent link: https://www.econbiz.de/10011446246

Job and worker flows : new stylized facts for Germany

Bachmann, Ruediger; Bayer, Christian; Merkl, Christian; … - 2017

We study the relationship between cyclical job and worker flows at the establishment level using the new German AWFP dataset spanning from 1975–2014. We find that worker turnover moves more procyclical than job turnover. This procyclical worker churn takes place along the entire employment...

Persistent link: https://www.econbiz.de/10011585890

The changing situation of labor market entrants in Germany

Reinhold, Mario; Thomsen, Stephan L. - In: Journal for labour market research 50 (2017) 1, pp. 161-174

Jüngere empirische Evidenz für den US-amerikanischen Arbeitsmarkt zeigt, dass gleichzeitig mit dem stetigen Anstieg des … Ergebnisse bestätigen daher einige Ähnlichkeiten zwischen dem deutschen und dem US-amerikanischen Arbeitsmarkt bezüglich … US-amerikanischen Arbeitsmarkt vor allem College-Absolventen von diesen Änderungen betroffen sind, sind in Deutschland …

Persistent link: https://www.econbiz.de/10011840545

IABSE-ADIAB : IAB job vacancy survey data linked to administrative data

Lochner, Benjamin - In: Jahrbücher für Nationalökonomie und Statistik 244 (2024) 1/2, pp. 159-165

The IABSE-ADIAB dataset provides the linkage between the most recent case of a hire from the IAB Job Vacancy Survey and the administrative data of the hired person. The data comprise the entire working history of persons who were identified as IAB Job Vacancy Survey hires from 2010 to 2020. The...

Persistent link: https://www.econbiz.de/10014515583

Asset returns, the business cycle, and the labor market : a sensitivity analysis for the German economy

Heer, Burkhard; Maußner, Alfred - 2011

We review the labor market implications of recent real-business-cycle models that successfully replicate the empirical equity premium. We document the fact that all models considered in this survey with the exception of Boldrin, Christiano, and Fisher (2001) imply a negative correlation of...

Persistent link: https://www.econbiz.de/10009011127

Stock Return Predictability and Variance Risk Premia : Statistical Inference and International Evidence

Bollerslev, Tim - 2012

Recent empirical evidence suggests that the variance risk premium predicts aggregate stock market returns. We demonstrate that statistical finite sample biases cannot “explain” this apparent predictability. Further corroborating the existing evidence of the U.S., we show that country...

Persistent link: https://www.econbiz.de/10013109053

A High-Frequency Investigation of the Interaction between Volatility and DAX Returns

Masset, Philippe; Wallmeier, Martin - 2023

One of the most noticeable stylized facts in finance is that stock index returns are negatively correlated with changes in volatility. The economic rationale for the effect is still controversial. The competing explanations have different implications for the origin of the relationship: Are...

Persistent link: https://www.econbiz.de/10014257347

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