Showing 21 - 30 of 574
Environmental factors add complexity to the comparison between specific activities or entire entities. Decision making units with an inferior performance are tempted to invoke that their organization is different from the others in the data set. By reinterpreting and extending the metafrontier...
Persistent link: https://www.econbiz.de/10005503852
The paper studies the relationship between exchange rates and asset prices. It takes the approach of order ows to exchange rates. Specifically, it focuses on the effect of time-dependent risk aversion. The switch in the parameter causes the equilibrium of the system to alternate between two...
Persistent link: https://www.econbiz.de/10005503853
Over time, inspection agencies gather information about firms that cause harmful externalities. This information may allow agencies to differentiate their monitoring strategies in the future, since inspections can be influenced by firms' past performance relative to other competitors in the...
Persistent link: https://www.econbiz.de/10005503854
This paper examines the effects of tmporary jobs in a matching model with ranking. If firms and workers are uncertain about the worker's actual productivity level at the moment of hiring and if long unemployment durations increase the probability of having low productivity, firms will be...
Persistent link: https://www.econbiz.de/10005503855
The paper compares the di¤erent timing and magnitude of mon-etary shocks across European countries. The problem the European Central Bank faces in setting a single monetary policy rule is analyzed starting from the di¤erences in the monetary transmission mechanism across EMU members. The...
Persistent link: https://www.econbiz.de/10005503856
This paper examines the relation between cash-flow availability and investment spending in the Netherlands. In particular, we are interested whether managerial discretion and/or asymmetric information underpin the positive relation between cash-flow and investment spending. This relation is...
Persistent link: https://www.econbiz.de/10005503857
We propose a mechanism which implements a unique solution to the bargaining problem with two players in subgame-perfect equilibrium. Players start by making claims and accept a compromise only if they cannot gain by pursuing their claim in an ultimatum. The player offering the lowest resistance...
Persistent link: https://www.econbiz.de/10005503858
It is puzzling that socioeconomic background greatly affects educational choice. Distinguished from the explanations based on expected utility theory, this paper attempts to explore the psychological mechanisms of generating educational identity1 and schooling choice. It offers a self-signaling...
Persistent link: https://www.econbiz.de/10005503859
We study the behaviour of the information matrix (IM) test when maximum likelihood estimators are replaced with robust estimators. The latter may unmask outliers and hence improve the power of the test. We investigate in detail the local asymptotic power of the IM test in the normal model, for...
Persistent link: https://www.econbiz.de/10005503860
Persistent link: https://www.econbiz.de/10005503861