In 1997 the new Labour government launched major initiatives in the area of financial regulation, setting up the Financial Services Authority as a comprehensive regulatory body, supported by the legislative framework of the Financial Services and Markets Act 2000. We evaluate the Labour...

This article presents a novel computational approach to solving models with both uninsurable idiosyncratic and aggregate risk that uses projection methods, simulation and perturbation. The approach is shown to be both as efficient and as accurate as existing methods on a model based on Krusell...

The aim of this paper is to investigate the influence of corporate social performance (CSP) dimensions on corporate financial performance (CFP). It contributes to the literature by exploring a new CSP dataset, by using a more fine-grained CSP measure than prior studies, by explicitly taking...

The economic literature provides ample evidence that immigration of highly skilled workers is beneficial for the host economy. Yet, when compared to countries such as the USA or Canada, Europe receives a lower share of migrants with tertiary education, raising concerns that the EU does not...

This paper analyzes econometric models of the Davis, Haltiwanger and Schuh (1996) job creation rate. In line with the most recent job creation literature, we focus on employment-weighted OLS estimation. Our main theoretical result reveals that employment-weighted OLS estimation of DHS job...

The aim of this paper is to compare the financial performance of Austrian SRI funds to the performance of Austrian conventional funds. 43 SRI and 1395 conventional funds are found for the analysis. Jensen’s alpha and Carhart’s 4-factor alpha are used to evaluate fund performance. The results...

This paper investigates the interrelated dynamics of employment, cohabitation and fertility for German women and men. Using a simultaneous hazards approach due to Lillard (1993), I estimate a five-equation model with unobserved heterogeneity. One of the contributions of this paper is to include...

Based on a unique survey, we conduct a stated choice experiment to examine the determinants of career choice in academia. Both early and later stage researchers value a balance between teaching and research, appropriate salaries, working with high-quality peers and good availability of external...

Under a deadweight loss of tax and transfer, there is tension between the optimal policy choices of a Rawlsian social planner and a utilitarian social planner. However, when with a weight greater than a certain critical value the individuals' utility functions incorporate distaste for low...

A monopolist is treated as a nexus of contracts with team production. It has one ownermanager. The owner-manager is the employer of two employees. A team production problem is present if the employer is a managerial lemon. If the team production problem is solved, the employer is a managerial...