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these channels, we conduct laboratory consumption/saving experiments. A novel feature of our experiments is that we tie them … to a real-effort style task. In four treatments, we turn on and off the two channels for consumption smoothing: saving … consumption; (iv) saving and time shifting are substitutes, though not perfect substitutes. …
Persistent link: https://www.econbiz.de/10012195562
these channels, we conduct laboratory consumption/saving experiments. A novel feature of our experiments is that we tie them … to a real-effort style task. In four treatments, we turn on and off the two channels for consumption smoothing: saving … consumption; (iv) saving and time shifting are substitutes, though not perfect substitutes. …
Persistent link: https://www.econbiz.de/10012175734
Our paper aims at testing the intertemporal substitution hypothesis (ISH) for small and medium enterprises (SMEs) in Bosnia and Herzegovina. The hypothesis predicts a positive relationship between the hours worked and the transitory changes in wages. We tested the hypothesis using the data on...
Persistent link: https://www.econbiz.de/10011840852
We consider a broad class of intertemporal economic problems and we characterize the short and long-run response of the demand for a good to a permanent increase in its market price. Depending on the interplay between self-productivity and time discounting, we show that dynamic substitution...
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We argue that using wage data alone, it is virtually impossible to identify whether Assortative Matching between worker and firm types is positive or negative. In standard competitive matching models the wages are determined by the marginal contribution of a worker, and the marginal contribution...
Persistent link: https://www.econbiz.de/10012764675
We propose a search-matching model of the marriage market that extends Shimer and Smith (2000) to allow for labor supply. We characterize the steady-state equilibrium when exogenous divorce is the only source of risk. The estimated matching probabilities that can be derived from the steady-state...
Persistent link: https://www.econbiz.de/10013119348