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Minimum wage : many entitled employees in Germany still do not receive it

Fedorets, Alexandra; Grabka, Markus M.; Schröder, Carsten - In: DIW weekly report : economy, politics, science : a … 9 (2019) 28/29, pp. 223-231

There has been a universal statutory minimum wage in Germany for a good four years, but many employees still do not receive it. This is the finding of new calculations based on the Socio-Economic Panel (SOEP), which have updated noncompliance with the minimum wage for 2017. Even conservative...

Persistent link: https://www.econbiz.de/10012035055

Pricing High-Dimensional American Options Using Local Consistency Conditions

Schumacher, Johannes M.; Berridge, S.J. - Tilburg University, Center for Economic Research - 2004

We investigate a new method for pricing high-dimensional American options. The method is of finite difference type but is also related to Monte Carlo techniques in that it involves a representative sampling of the underlying variables.An approximating Markov chain is built using this sampling...

Persistent link: https://www.econbiz.de/10011091303

Using Localised Quadratic Functions on an Irregular Grid for Pricing High-Dimensional American Options

Schumacher, Johannes M.; Berridge, S.J. - Tilburg University, Center for Economic Research - 2004

We propose a method for pricing high-dimensional American options on an irregular grid; the method involves using quadratic functions to approximate the local effect of the Black-Scholes operator.Once such an approximation is known, one can solve the pricing problem by time stepping in an...

Persistent link: https://www.econbiz.de/10011091409

An Irregular Grid Approach for Pricing High-Dimensional American Options

Schumacher, Johannes M.; Berridge, S.J. - Tilburg University, Center for Economic Research - 2004

We propose and test a new method for pricing American options in a high-dimensional setting.The method is centred around the approximation of the associated complementarity problem on an irregular grid.We approximate the partial differential operator on this grid by appealing to the SDE...

Persistent link: https://www.econbiz.de/10011091486

Wealth dynamics in the 1980's and 1990's : Sweden and the US

Klevmarken, Anders; Lupton, Joseph P.; Stafford, Frank P. - 2000

Persistent link: https://www.econbiz.de/10001537294

Wealth Inequality in Italy : Reconstruction of 1968-75 Data and Comparison with Recent Estimates

Cannari, Luigi - 2018

those years. In this way, inequality and poverty can be estimated by using the same statistical criteria that are used today …

Persistent link: https://www.econbiz.de/10012921192

Wealth dynamics in the 1980's and 1990's : Sweden and the U.S.

Klevmarken, Anders; Lupton, Joseph P.; Stafford, Frank P. - 2000

wealth accumulation in these two countries can be enlightening. In this paper we examine wealth inequality and mobility in … Sweden and the United States over the past decade. We show that wealth inequality has been significantly greater in the U …. In addition to less inequality and a higher median wealth, we also show that wealth quintile mobility in the 1990 s has …

Persistent link: https://www.econbiz.de/10011587574

A Stochastic Model of Wealth Accumulation with Class Division

Russo, Alberto - Dipartimento di Scienze Economiche e Sociali, Facoltà … - 2012

In this paper we propose a stochastic model in which wealth accumulation depends on the role that agents play in the society: capitalists or workers. A random mechanism of class selection shapes the social structure of the economy based on wealth distribution dynamics. As a result, the society...

Persistent link: https://www.econbiz.de/10009493150

Towards a stochastic model with heterogeneous agents and class division

Russo, Alberto - Volkswirtschaftliche Fakultät, … - 2011

We present a simple stochastic model in which heterogeneous agents accumulate wealth belonging to the capitalist or the working class, with profits generated by a stochastic multiplicative process and wages by an additive one. Class selection is based on a random process depending on wealth...

Persistent link: https://www.econbiz.de/10009147678

Inequality and the Financial Accumulation Process : A Computational Economic Analysis of Income and Wealth Dynamics

Biondi, Yuri - 2015

Our computational economic analysis investigates the relationship between inequality and the financial accumulation … role as socioeconomic source of inequality, while institutional configurations play a significant role in framing and …

Persistent link: https://www.econbiz.de/10013029158