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Dual Track or Academic Route for Auditors

Jonker, Nicole; van Ophem, Hans; Hartog, Joop - 2002

of differently educated auditors are supported by the estimation results in this paper. The part-time, dual track appears …

Persistent link: https://www.econbiz.de/10010324997

Income Satisfaction Inequality and its Causes

Ferrer-i-Carbonell, Ada; Praag, Bernard M.S. Van - 2002

In this paper, the concept of Income Satisfaction Inequality is operationalized on the basis of individual responses to … an Income Satisfaction question posed in the German Socio-Economic Panel (GSOEP). Income satisfaction is the subjective … method to decompose Income Satisfaction Inequality according to the contributions from variables such as income, education …

Persistent link: https://www.econbiz.de/10010325001

House Prices, Second Mortgages and Household Savings; An Empirical Investigation for the Netherlands, 1987-1994

Rouwendal, Jan; Alessie, Rob - 2002

Since the beginnings of the eighties house prices in the Netherlands haveincreased steadily and considerably. In this paper we study the effect of this developmenton the demand for second mortgages and on the savings of Dutch households. We use the dataof the Dutch socio-economic panel for the...

Persistent link: https://www.econbiz.de/10010325002

Pro-Cyclicality, Empirical Credit Cycles, and Capital Buffer Formation

Koopman, Siem Jan; Lucas, André; Klaassen, Pieter - 2002

We model 1927-1997 U.S. business failure rates using a time series approach based on unobserved components. Clear evidence is found of cyclical behavior in default rates. The cycle has a period of around 10 years. We also detect longer term movements in default probabilities and default...

Persistent link: https://www.econbiz.de/10010325004

Earnings Risk and Demand for Higher Education

Hartog, Joop; Serrano, Luis Diaz - 2002

We develop a simple human capital model for optimum schooling length when earnings are stochastic, and highlight the pivotal role of risk attitudes and the schooling gradient of earnings risk. We use Spanish data to document the gradient and to estimate individual response to earnings risk in...

Persistent link: https://www.econbiz.de/10010325016

Gibrat's Law and the Firm Size / Firm Growth Relationship in Italian Services

Piergiovanni, R.; Santarelli, E.; Klomp, L.; Thurik, A.R. - 2002

Several surveys on intra-industry dynamics have recently reached the conclusion from a large body of evidence that Gibrat's Law does not hold, i.e., the main finding is that firm growth decreases with firm size. However, almost all of these studies have been based on manufacturing. In this paper...

Persistent link: https://www.econbiz.de/10010325020

Vulnerability in a Stochastic Dynamic Model

Elbers, Chris; Gunning, Jan Willem - 2003

Most measures of vulnerability are a-theoretic and essentially static. In this paper we use a stochastic Ramsey model to find a household's optimal welfare and we measure vulnerability as the shortfall from the welfare attained if the household consumed permanently at the poverty line. The...

Persistent link: https://www.econbiz.de/10010325021

Ordering the Preference Hierarchies for Internal Finance, Bank Loans, Bond and Share Issues

de Haan, Leo; Hinloopen, Jeroen - 2002

We estimate the incremental financing decision for a sample of some 150Dutch companies for the years 1984 through 1997, thereby distinguishinginternal finance and three types of external finance: bank borrowing, bondissues and share issues. First, we estimate a multinomial logit model...

Persistent link: https://www.econbiz.de/10010325022

Pricing and Hedging Guaranteed Annuity Options via Static Option Replication

Pelsser, Antoon - 2002

In this paper we derive a market value for Guaranteed Annuity Optionusing martingale modeling techniques. Furthermore, we show how to construct a static replicating portfolio of vanillainterest rate swaptions that replicates the Guaranteed Annuity Option. Finally, we illustrate with historical...

Persistent link: https://www.econbiz.de/10010325024

An Empirical Study of Cash Payments

Kippers, Jeanine; van Nierop, Erjen; Paap, Richard; … - 2002

Anytime an individual makes a cash payment, s/he needs to think about theamount to be paid, the coins and notes which are available, and the amount ofchange. For central banks and retail stores, for example, it is of interest to un-derstand how this individual choice process works. The...

Persistent link: https://www.econbiz.de/10010325068