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Assets bubbles, unemploymen, and financial market frictions

Hashimoto, Ken'ichi; Im, Ryonghun; Kunieda, Takuma; … - 2020

A tractable model with infinitely lived agents is constructed for the examination of bubbles and unemployment. It is … demonstrated that the presence of bubbles stimulates capital accumulation and reduces unemployment. The presence of bubbles also … changes the effects of government policies that target unemployment and welfare conditions in the labor market. The main …

Persistent link: https://www.econbiz.de/10012254416

Is An Informative Stock Price Used Less in Incentive Contracts?

Swan, Peter L. - 2019

II address the way agency incentives evolve, from listed equity with low liquidity to highly liquid stocks with active informed speculators. I conclude that, as the informativeness of stock price about the manager's actions improves, less weight needs to be given to both equity and non-price...

Persistent link: https://www.econbiz.de/10012889282

Investor Sentiment and Stock Option Vesting Terms

Huang, Shawn X. - 2020

Using the details of vesting terms, we document that stock options granted in high sentiment periods tend to have shorter vesting period/duration, and are more likely to vest completely or have a significantly larger fraction vested within one year of the grant date relative to low sentiment...

Persistent link: https://www.econbiz.de/10012856228

Employment protection and stock price crash risk : evidence from China’s introduction of the labor contract law

Zhuo, Qianru; Lin, Yuanfeng; Qiu, Yajie; Shen, Zhe; … - In: Research in international business and finance 71 (2024), pp. 1-22

Persistent link: https://www.econbiz.de/10015061714

Countercyclical Fluctuations in Uncertainty are Endogenous

Bernstein, Joshua; Plante, Michael; Richter, Alexander W.; … - 2021

This paper uses a battery of calibrated and estimated structural models to determine the causal drivers of the negative correlation between output and aggregate uncertainty. We find the transmission of uncertainty shocks to output is weak, while aggregate uncertainty endogenously responds to...

Persistent link: https://www.econbiz.de/10013219154

Search Intensity and Asset Prices

Luo, Ding; Tong, Jincheng - 2022

Job search decisions of unemployed workers are forward-looking and respond to expected returns from the search process. When expected returns (or discount rates) are high, the discounted benefits from the search process are low. Thus unemployed workers search less intensively for jobs. We build...

Persistent link: https://www.econbiz.de/10014235643

The demographics of innovation and asset returns

Garleanu, Nicolae; Kogan, Leonid; Panageas, Stauros - 2009

Persistent link: https://www.econbiz.de/10003908887

High discounts and high unemployment

Hall, Robert Ernest - 2014

Persistent link: https://www.econbiz.de/10010253995

Asset Bubbles, Unemployment, and Financial Market Frictions

Hashimoto, Ken-Ichi - 2020

Persistent link: https://www.econbiz.de/10012826419

Asset Prices and Unemployment Fluctuations

Kehoe, Patrick - 2019

Recent critiques have demonstrated that existing attempts to account for the unemployment volatility puzzle of search … reproduces the observed fluctuations in unemployment because hiring a worker is a risky investment with long-duration surplus … benefit from creating new matches greatly drops, leading to a large decline in job vacancies and an increase in unemployment …

Persistent link: https://www.econbiz.de/10012857716

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