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Estimating persistence in the volatility of asset returns with signal plus noise models

Caporale, Guglielmo Maria; Gil-Alana, Luis A. - 2010

This paper examines the degree of persistence in the volatility of financial time series using a Long Memory Stochastic Volatility (LMSV) model. Specifically, it employs a Gaussian semiparametric (or local Whittle) estimator of the memory parameter, based on the frequency domain, proposed by...

Persistent link: https://www.econbiz.de/10010271356

Social relationships and trust

Binzel, Christine; Fehr, Dietmar - 2010

While social relationships play an important role for individuals to cope with missing market institutions, they also limit individuals' range of trading partners. This paper aims at understanding the determinants of trust at various social distances when information asymmetries are present....

Persistent link: https://www.econbiz.de/10010271364

The design of unemployment transfers: Evidence from a dynamic structural life-cycle model

Haan, Peter; Prowse, Victoria - 2010

In this paper we use a dynamic structural life-cycle model to analyze the employment, fiscal and welfare effects induced by unemployment insurance. The model features a detailed specification of the tax and transfer system, including unemployment insurance benefits which depend on an...

Persistent link: https://www.econbiz.de/10010271367

Does international outsourcing really lower workers' income?

Koskela, Erkki; König, Jan - 2010

We analyze the impact of international outsourcing on income, if the domestic labor market is imperfect. We distinguish in our analysis between the case where the parties negotiate over the wage only and where they negotiate over both wage and profit share. We find that in the first case...

Persistent link: https://www.econbiz.de/10010271390

Can training programs or rather wage subsidies bring the unemployed back to work? A theoretical and empirical investigation for Germany

Neubäumer, Renate - 2010

Our paper investigates the relative effects of wage subsidies and further vocational training on the subsequent employment prospects of previously unemployed program participants. First, we outline a theoretical approach based on a firm's hiring decision. For the relative effectiveness of both...

Persistent link: https://www.econbiz.de/10010271391

Quasiconcave Preferences and Choices on a Probability Simplex – A Nonparametric Analysis

Heufer, Jan - 2010

A nonparametric approach is presented to test whether decisions on a probability simplex could be induced by quasiconcave preferences. Necessary and sufficient conditions are presented. If the answer is affirmative, the methods developed here allow to reconstruct bounds on indifference curves....

Persistent link: https://www.econbiz.de/10010271393

In Vino Veritas: The Economics of Drinking

Heufer, Jan - 2009

context. There is a tradeoff between the efficiency gains due to the signaling effect and the loss of productivity associated … exclusive technology is efficient, social norms or laws can raise efficiency by legalizing only one drug. …

Persistent link: https://www.econbiz.de/10010271394

Monopolistic Competition and Costs in the Health Care Sector

Kumpmann, Ingmar - 2009

Competition among health insurers is widely considered to be a means of enhancing efficiency and containing costs in …

Persistent link: https://www.econbiz.de/10010271400

Knowledge Spillovers as a Central Element in Theories about Knowledge-Based Regional Development: Advancement in Theory and Obstacles for Empirical Research

Franz, Peter - 2010

As scientists and policymakers tend to interpret changes in the economy as a trend towards an increasingly knowledge-based economy, their recommendations and strategies for regional economic development frequently contain elements how to intensify the knowledge flows in the region concerned....

Persistent link: https://www.econbiz.de/10010271407

The Economic Optimality of Sanction Mechanisms in Interorganizational Ego Networks – A Game Theoretical Analysis –

Kudic, Muhamed; Banaszak, Marc - 2009

consolidated conditions in order to analyze the effectiveness and efficiency of interorganizational sanction mechanisms in an … efficiency analysis sensibilizes for discretionary elements in governance structures and demonstrates that not one single … Effektivität und Effizienz von Sanktionsmechanismen in Allianzportfolios herzuleiten. Zu diesem Zweck verwenden wir ein einfaches …

Persistent link: https://www.econbiz.de/10010271408