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affects job search behavior. We look at the effect of wealth at the entry into unemployment on the exit rate from unemployment …
Persistent link: https://www.econbiz.de/10012242926
We introduce and solve a new class of quot;downward-recursivequot; static portfolio choice problems. An individual simultaneously chooses among ranked stochastic options, and each choice is costly. In the motivational application, just one may be exercised from those that succeed. This often...
Persistent link: https://www.econbiz.de/10012774490
Persistent link: https://www.econbiz.de/10015116929
In this paper we identify optimal strategies for the investment in power generation assets. The investments are characterized by multiple available technologies whose economic value is driven by a technology-specific combination of several underlying assets, such as the price of fuel,...
Persistent link: https://www.econbiz.de/10013062910
Persistent link: https://www.econbiz.de/10010193232
A dynamic model featuring a stochastic technology frontier shows significant impact of technology adoption for asset prices. In equilibrium, firms operating with old capital are riskier because costly technology adoption restricts their flexibilities in upgrading to the latest technology, making...
Persistent link: https://www.econbiz.de/10010531879
Persistent link: https://www.econbiz.de/10003468444
affects job search behavior. We look at the effect of wealth at the entry into unemployment on the exit rate from unemployment …
Persistent link: https://www.econbiz.de/10012829227
precautionary saving and a shift toward safer assets in the years leading up to unemployment, and depletion of savings during … unemployment. This suggests that at least some households can foresee and prepare for upcoming unemployment, which indicates that … private savings can to some extent serve as a substitute for publicly provided unemployment insurance. …
Persistent link: https://www.econbiz.de/10010319696
An empirical regularity in the US business cycles is that in recessions men's unemployment rate rises faster than women … of real personal consumption expenditures, we are able to show a correspondence between gender unemployment dynamics and … segregation based on occupational economic risk, which , in turn is realized in terms of the likelihood of unemployment spells. We …
Persistent link: https://www.econbiz.de/10013231493