This paper tests a smart money-noise trader model directly by seeing how well its predictions match the behavior of actual investors.

Computable general equilibrium (CGE)models require both theory and data. The theory underlying our model is standard general equilibrium theory, and details will be provided elsewhere. The sole purpose of this paper is to present in detail the data used to calibrate this model. We have...

This paper argues that trade unions have a number of distinct and possibly conflicting effects on wages. This contrasts with the vast bulk of the literature which focuses on estimating a simgl measure of the union differential or "mark-up". We use data at the work-place level for the United...

The purpose of this paper is to examine the relationship between three variables- the grant rate, the tax rate and the relative price of local costs and to establish the trade offs between these variables.

In Irish manufacturing, the foreign sector accounts for about one half of employment and some 60 per cent of gross output. The Irish experience therefore provides us with a textbook case study of the effects on an EU host economy of export-oriented FDI. We explore in this paper the structural...

This paper models the relationship between the union and its membership as a Principal Agent problem. The union sets wages subject to a labour demand curve. The level of wages is determined by union effort. The union negotiates as a monopoly union. Its utility is a risk averse function of its...

This paper considers the problem of comparing real incomes across countries. The available methods are reviewed and their performance is compared using the raw data underlying the Penn World Table.

This has demonstrated the rationale for allowing for winners and losers contingent valuation. In addition, it has shown how appropriate measures of welfare gains as well as loses can be elicited in dichotomous choice contingent valuation.

The objective of this study is to compare the effects on earnings across a pectrum of studies. Research on the topic has been very limited up to the 1990s, but the emergence of a number of comprehensive data sets has allowed considerable research into the topic. A cross paper comparison of the...

This paper analyses levels of low literacy across twelve countries using the International Adult Literacy Survey. We go beyond existing work that looks at the proportions below certain critical level of literacy. Using methods developed for the measurement of poverty we calculate measures of...