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The Degradation of Distorted Performance Measures

Sloof, Randolph; van Praag, Mirjam - 2008

hinges on two characteristics: noise and distortion. These criteria, though, will only be useful in practice as long as the … noise and distortion of a performance measure can be measured. Courty and Marschke (2007) have recently developed an elegant … empirical test to detect distortion, based on the degradation of a performance measure subsequent to increasing its weight in …

Persistent link: https://www.econbiz.de/10010325988

Optimal fiscal policy with heterogeneous agents

Bassetto, Marco - In: Quantitative Economics 5 (2014) 3, pp. 675-704

The aim of this paper is to study the relationship between the intertemporal behavior of taxes and wealth distribution. The optimal-taxation literature has often concentrated on representative-agent models, in which it is optimal to smooth distortionary taxes. When tax liabilities are unevenly...

Persistent link: https://www.econbiz.de/10011599668

Law invariant convex risk measures for portfolio vectors

Rüschendorf, Ludger - In: Statistics & Risk Modeling 24 (2006) 1, pp. 97-108

multivariate distortion risk measures and relate them to multivariate quantile functionals and to an extension of the average value …

Persistent link: https://www.econbiz.de/10014621323

GROUNDNUT TRADE LIBERALIZATION: A SOUTH-SOUTH DEBATE?

Beghin, John C.; Diop, Ndiame; Matthey, Holger; … - 2003

We use a new partial-equilibrium, multi-market international model to analyze trade and agricultural policies affecting markets for peanut/groundnut products. The model covers four goods in thirteen countries/regions, including a large set of developing countries. Welfare is evaluated by looking...

Persistent link: https://www.econbiz.de/10009443106

Can Stimulus Checks Boost an Economy under COVID-19? Evidence from South Korea

Kim, Moon Jung; Lee, Soohyung - 2020

Various countries have implemented transfer programs to individuals since the Covid-19 outbreaks. However, the extent to which such transfers alleviate economic recessions is unclear. This paper analyzes a South Korean program, which provided vouchers redeemable only at small local businesses....

Persistent link: https://www.econbiz.de/10012270245

Newly discovered gold does not distort the economy: It is not a market failure

Block, Walter; Barnett, William - In: Review of Economic Perspectives 20 (2020) 3, pp. 281-288

We wish to "quibble" with Murphy (2019). We mean this literally. That is, we are in strong and enthusiastic agreement with virtually everything he writes therein, except for one point: we think him guilty of allowing the cloven hoof of market failure into the Austrian tent. Our purpose in the...

Persistent link: https://www.econbiz.de/10012384148

New families of bivariate copulas via unit lomax distortion

Abdullah-A Aldhufairi, Fadal; Samanthi, Ranadeera G.M.; … - In: Risks 8 (2020) 4, pp. 1-19

This article studies a new family of bivariate copulas constructed using the unit-Lomax distortion derived from a …

Persistent link: https://www.econbiz.de/10013200639

Substitution bias in the measurement of import and export price indices: Causes and correction

von Auer, Ludwig; Shumskikh, Alena - 2020

The import and export price indices of an economy are usually compiled by some Laspeyres type index. It is well known that such an index formula is prone to substitution bias. Therefore, also the terms of trade (ratio of export and import price index) are likely to be distorted. The underlying...

Persistent link: https://www.econbiz.de/10012651841

Testing for Distortions in Performance Measures: An Application to Residual Income Based Measures like Economic Value Added

Sloof, Randolph; van Praag, Mirjam - 2014

Distorted performance measures in compensation contracts elicit suboptimal behavioral responses that may even prove to be dysfunctional (gaming). This paper applies the empirical test developed by Courty and Marschke (2008) to detect whether the widely used class of Residual Income based...

Persistent link: https://www.econbiz.de/10010377217

Encouragement and Distortionary Effects of Conditional Cash Transfers

Bryan, Gharad; Chowdhury, Shyamal; Mobarak, Ahmed Mushfiq; … - 2021

circumstances, a larger transfer increases distortion more than that it raises benefits from stronger encouragement, implying that … travel expenses, distortion increases and CCT program outcomes deteriorate. …

Persistent link: https://www.econbiz.de/10012597472