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Trading dynamics with adverse selection and search: Market freeze, intervention and recovery

Chiu, Jonathan; Koeppl, Thorsten V. - 2011

We study the trading dynamics in an asset market where the quality of assets is private information of the owner and finding a counterparty takes time. When trading of a financial asset ceases in equilibrium as a response to an adverse shock to asset quality, a large player can resurrect the...

Persistent link: https://www.econbiz.de/10010319657

Sticky prices, competition and the Phillips curve

Mikosch, Heiner Felix - 2012

weak competition. In line with the theory, prices of products, that face very strong competition, are also less likely to …This study analyzes how competition affects price stickiness at the micro level. On the theoretical side, I develop … inflation expectations. I find two opposing effects of competition on the slope of the micro Phillips curve. On the one hand …

Persistent link: https://www.econbiz.de/10010319699

The golden hello and political transitions

Aidt, Toke; Albornoz, Facundo; Gassebner, Martin - 2012

have taken place. We test this unexplored implication of the theory empirically. We find in a world sample from 1970 to …

Persistent link: https://www.econbiz.de/10010319723

Gateveys: An R toolbox for re-traceable aggregation of business tendency survey data

Bannert, Matthias - 2013

This paper describes how to use the R package gateveys to establish a transparent and reproducible aggregation work flow for longitudinal data stemming from business tendency surveys (BTS). Business tendency survey researchers are addressed in particular though the suggested work flow could also...

Persistent link: https://www.econbiz.de/10010319728

Risk-sorting and preference for team piece rates

Bäker, Agnes; Mertins, Vanessa - 2012

Incentive schemes not only influence the effort provision of workers, but might also induce sorting. As drivers of self-selection, the literature mainly focuses on measures of productivity; however, other variables, such as preferences, beliefs and personality, also play a role. With this paper,...

Persistent link: https://www.econbiz.de/10010319744

Profit sharing and relative consumption

Goerke, Laszlo - 2012

Traditionally, it has been argued that profit sharing can increase employment and welfare because it lowers marginal labour costs without reducing total cost or labour income. In this paper, we show that profit sharing can also represent a Pareto-improvement if labour supply is excessive due to...

Persistent link: https://www.econbiz.de/10010319746

Unemployment benefits as redistribution scheme for trade gains: A positive analysis

de Pinto, Marco - 2012

Trade liberalization is no Pareto-improvement - there are winners (high-skilled) and losers (low-skilled). To compensate the losers the government is assumed to introduce unemployment benefits (UB). These benefits are financed by either a wage tax, a payroll tax, or a profit tax. Using a...

Persistent link: https://www.econbiz.de/10010319750

The redistribution of trade gains and the equity-efficiency trade-off

de Pinto, Marco - 2012

The contribution of this paper is to derive an optimal redistribution scheme for trade gains in the case of a government's objective function that explicitly accounts for the equity-efficiency trade-off. The government pays unemployment benefits (UB) either financed by a wage tax, a payroll tax...

Persistent link: https://www.econbiz.de/10010319752

Relative consumption concerns or non-monotonic preferences?

Hillesheim, Inga; Mechtel, Mario - 2012

We conduct a classroom survey to investigate the willingness to sacrifice consumption in absolute terms in order to ascend above others in terms of consumption levels. In contrast to other studies using survey methodologies, participants are divided into a treatment and a control group. This...

Persistent link: https://www.econbiz.de/10010319758

Relative consumption and tax evasion

Goerke, Laszlo - 2013

Relative consumption effects or status concerns that feature jealousy (in the sense of Dupor and Liu, AER 2003) boost consumption expenditure. If consumption is financed by labour income, such status considerations increase labour supply and, hence, the tax base. A higher taxable income, in...

Persistent link: https://www.econbiz.de/10010319761