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Political pressures and monetary mystique

Geraats, Petra Maria - 2007

Central bank independence and transparency have become best practice in monetary policy. This paper cautions that transparency about economic information may not be beneficial in the absence of central bank independence. The reason is that it reduces monetary uncertainty, which could make the...

Persistent link: https://www.econbiz.de/10010274038

How Chicagoan are Gary Becker's economic models of marriage?

Grossbard, Shoshana Amyra - 2009

models. At the market level, Becker offers two major types of models: partial equilibrium models based on Price Theory as … possible intellectual influences on Becker's theory of marriage, compares Becker's research on marriage with that of some …

Persistent link: https://www.econbiz.de/10010274047

The political economy of sin taxes

Haavio, Markus; Kotakorpi, Kaisa Ilona - 2009

We analyse the determination of taxes on harmful goods when consumers have self-control problems. We show that under reasonable assumptions, the socially optimal corrective tax exceeds the average distortion caused by self-control problems. Further, we analyse how individuals with self-control...

Persistent link: https://www.econbiz.de/10010274049

Non-profit organizations in a bureaucratic environment

Grout, Paul A.; Schnedler, Wendelin - 2008

How does the environment of an organization influence whether workers voluntarily provide effort? We study the power relationship between a non-profit unit (e.g. university department, NGO, health trust), where workers care about the result of their work, and a bureaucrat, who supplies some...

Persistent link: https://www.econbiz.de/10010274068

Two-Sided Learning, Labor Turnover and Worker Displacement

Pfann, Gerard A.; Hamermesh, Daniel S. - 2001

We construct a general dynamic structural model of two-sided learning between a firm and its workers. We estimate an empirical version of the model using personnel data from Fokker Aircraft that cover the path of layoffs and quits through its bankruptcy. We find that the firm learns about its...

Persistent link: https://www.econbiz.de/10010274098

Financial liberalization in a small open economy

von Hagen, Jürgen; Zhang, Haiping - 2006

We analyze the long-run and short-run implications of financial liberalization in a small open economy. Our main results are as follows. First, whether financial deregulation in one sector can improve production efficiency may depend on financial regulation in other sectors. Second, financial...

Persistent link: https://www.econbiz.de/10010274156

A rise by any other name?: sensitivity of growth regressions to data source

Hanousek, Jan; Hájková, Dana; Filer, Randall - 2007

Measured rates of growth in real per capita income differ drastically depending on the data source. This phenomenon occurs largely because data sets differ in whether and how they adjust for changes in relative prices across countries. Replication of several recent studies of growth determinants...

Persistent link: https://www.econbiz.de/10010274158

The damage from clean floats: From an anti-inflationary monetary policy

Pope, Robin; Selten, Reinhard; Kaiser, Johannes; Kube, … - 2007

embeds a new theory of exchange rate determination involving the uncontroversial power of fully cooperating central banks to … totally fix the exchange rate. The new model is within a broader theory that includes risk effects normally excluded, SKAT …, the Stages of Knowledge Ahead Theory. We use SKAT to analyse outliers in our experimental results, and indicate some new …

Persistent link: https://www.econbiz.de/10010274161

The default risk of firms examined with Smooth Support Vector Machines;

Härdle, Wolfgang Karl; Lee, Yuh-Jye; Schäfer, Dorothea; … - 2007

In the era of Basel II a powerful tool for bankruptcy prognosis is vital for banks. The tool must be precise but also easily adaptable to the bank's objections regarding the relation of false acceptances (Type I error) and false rejections (Type II error). We explore the suitability of Smooth...

Persistent link: https://www.econbiz.de/10010274162

The demand for variety: a household production perspective

Hamermesh, Daniel S.; Gronau, Reuben - 2007

Economists have devoted substantial attention to firms’ supply of variety, but little to consumers' demand for variety. Employing the framework of home production, we trace differences in demand to differences in the opportunity costs of activities, which are associated with investments in...

Persistent link: https://www.econbiz.de/10010274172