Venture capitalists enjoy incentive-laden compensation schemes where they are paid a fixed amount (management fees) plus a share of profit (success fees). This scheme is of course intended to provide venture capitalists with strong incentives under the heavy information asymmetry (Sahlman, 1982,...

This paper analyzes the development and effects of intra-provincial regional disparities in China between 1989 and 2001. A decomposition analysis shows that intraprovincial disparities contribute significantly to total regional inequality. In the second part of the paper, the impact of the...

This paper examines the hypothesis that a greater stock of migrants in New Zealand from a particular country leads to more trade between that country and New Zealand. The literature suggests that migrants can stimulate trade by lowering transaction costs, and by bringing with them preferences...

In this paper we investigate if there was a causal effect of changes in current and 'permanent' income on the health of East Germans in the years following reunification. Reunification was completely unanticipated and therefore can be seen as a providing some exogenous variation, which resulted...

Sickness incidence and recovery are likely to be affected not only by characteristics of individual workers, but also by the conditions under which they work. Large register data bases have been available for researchers in several countries for some years now, allowing detailed research on how...

This paper examines the determinants of inflation forecast uncertainty using a panel of density forecasts from the Survey of Professional Forecasters (SPF). We show that previous studies based on aggregate data are biased due to heterogeneity of individual forecasts. Instead, we estimate a...

Most immigrant groups experience higher rates of unemployment than the host countries native population, but it is as yet unclear whether differences in job search behaviour, or its success, can help explain this gap. In this paper, we investigate how the job search methods of unemployed...

In this paper we analyse contributions to a public good within an inter-generational framework where at the end of each session one generation of subjects leave advice for the succeeding generation via free form messages. Such advice can be private (advice left by one player in generation is...

Empirical studies of economic growth across countries are abundant and rich in conclusions, some of them widely accepted. This is not the case, however, with the empirics of business cycles. Particularly, there exists little evidence explaining why some countries take more time than others...

This paper considers the extension to panel data of models that are specified cross-sectionally in terms of a likelihood. It considers specifically the estimation of stochastic frontier models but the same issue arises in many other models. The model can be estimated for any single value of the...