Showing 41 - 50 of 332
In this paper, we test whether labor-hoarding environments with basic and augmented laws of motion provide an adequate explanation for observed business cycle dynamics. The basic law of motion assumes that the information set used by economic agents to forecast future forcing variables includes...
Persistent link: https://www.econbiz.de/10005572491
In this paper, we deal with female labour supply in the collective framework (Chiappori, Journal of Political Economy (1992)). We study married couples and start from the empirical observation that the husband's labour supply is generally determined by exogenous constraints. We then show that,...
Persistent link: https://www.econbiz.de/10005572492
This paper analyzes the cost and incentive properties of the standard of proof for a finding of negligence. In common law, the usual standard is for courts to decide on the basis of a so-called balance of probabilities or preponderance of the evidence. We show that, if producing information...
Persistent link: https://www.econbiz.de/10005572493
Economic fluctuations are much stronger in developing countries than in the United States. Yet, while a large literature debates what constitutes a reasonable estimate of the welfare cost of business cycles in the US, it remains an open question how large that cost is in developing countries....
Persistent link: https://www.econbiz.de/10005572494
This paper examines the efficiency of the Canadian treasury bill market as measured by the performance of the expectations model of the term structure of interest rates. In particular, market efficiency is shown to depend upon certain institutional features of the treasury bill auction process....
Persistent link: https://www.econbiz.de/10005572495
Dans cet article, nous présentons un survol de la littérature macroéconomique sur la taxation optimale. En premier lieu, nous présentons un modèle très simple à agent représentatif afin de démontrer le résultat principal de cette littérature concernant le taux de taxation sur le...
Persistent link: https://www.econbiz.de/10005572496
This study draws on a panel of Southeast Montreal workers to shed light on the intensity of job search effort among the long-term unemployed. Three specific questions are addresses: 1) how long exactly does it takes them to quit searching, 2) how does their job search intensity evolve over time...
Persistent link: https://www.econbiz.de/10005572497
Forecasting at business cycle frequencies is traditionally done with statistically estimated econometric models. This paper takes a different approach, using a calibrated dynamic general equilibrium model in line with the real business cycle literature. First attempts by others have not proven...
Persistent link: https://www.econbiz.de/10005572498
This paper contributes to the search theory of unemployment by endogenously generating matching functions for skilled and unskilled workers from a wage-posting game. The model is capable of producing a positive skill premium and a positive wage differential among homogeneous unskilled workers....
Persistent link: https://www.econbiz.de/10005572499
This paper gauges the causal relationship between external and budget deficits by using Blanchard's overlapping generations model. This model sests the twin deficits hypothesis (i.e. there is a positive relationship between the deficits) and the Ricardian equivalence hypothesis (i.e. there is no...
Persistent link: https://www.econbiz.de/10005572500