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Why Do Women Leave Science and Engineering?

Hunt, Jennifer - C.E.P.R. Discussion Papers - 2012

from science and engineering relative to other fields. I find that the higher relative exit rate is driven by engineering … rather than science, and show that 60% of the gap can be explained by the relatively greater exit rate from engineering of … working conditions are only secondary factors. The relative exit rate by gender from engineering does not differ from that of …

Persistent link: https://www.econbiz.de/10011083913

The Catch-22 of External Validity in the Context of Constraints to Firm Growth

Fischer, Greg; Karlan, Dean S. - C.E.P.R. Discussion Papers - 2015

We document the presence of multiple and varied constraints to small and medium firm growth. This presents both a practical problem for business training programs and a challenge to academic economists trying to identify mechanisms though which these programs may affect outcomes. External...

Persistent link: https://www.econbiz.de/10011184078

The Discrete Choice Analytically Flexible (DCAF) Model of Demand for Differentiated Products

Davis, Peter - C.E.P.R. Discussion Papers - 2006

In this paper I develop the Discrete Choice Analytically Flexible (DCAF) model of demand for differentiated products. DCAF relaxes the constraints imposed on the matrix of own- and cross-price elasticities of demand by popular analytic discrete choice models such as the Multinomial Logit (MNL)...

Persistent link: https://www.econbiz.de/10005656174

Equilibrium Asset Prices and Investor Behavior in the Presence of Money Illusion

Basak, Suleyman; Yan, Hongjun - C.E.P.R. Discussion Papers - 2009

This article analyzes the implications of money illusion for investor behavior and asset prices in a securities market economy with inflationary fluctuations. We provide a belief-based formulation of money illusion which accounts for the systematic mistakes in evaluating real and nominal...

Persistent link: https://www.econbiz.de/10005048554

Liquidity Risk in Securities Settlement

Devriese, Johan; Mitchell, Janet - C.E.P.R. Discussion Papers - 2005

This paper studies the potential impact on securities settlement systems (SSSs) of a major market disruption, caused by the default of the largest player. A multi-period, multi-security model with intraday credit is used to simulate direct and second round settlement failures triggered by the...

Persistent link: https://www.econbiz.de/10005792365

On the Role of Arbitrageurs in Rational Markets

Basak, Suleyman; Croitoru, Benjamin - C.E.P.R. Discussion Papers - 2004

Price discrepancies, although at odds with mainstream finance, are persistent phenomena in financial markets. These apparent mispricings lead to the presence of ‘arbitrageurs’, who aim to exploit the resulting profit opportunities, but whose role remains controversial. This article...

Persistent link: https://www.econbiz.de/10005123691

Assessing the impact of Mali’s water privatization across stakeholders

Estache, Antonio; Grifell-Tatjé, Emili - C.E.P.R. Discussion Papers - 2011

This paper offers a unique quantitative evaluation of the distribution of the welfare of a water privatization experience in Mali among labor, investors, intermediate input providers, users and taxpayers. The assessment is based on indicator duality and production theory. The paper shows that...

Persistent link: https://www.econbiz.de/10009399719

A Theory of Regular Markov Perfect Equilibria in Dynamic Stochastic Games: Genericity, Stability, and Purification

Doraszelski, Ulrich; Escobar, Juan - C.E.P.R. Discussion Papers - 2008

This paper develops a theory of regular Markov perfect equilibria in dynamic stochastic games. We show that almost all dynamic stochastic games have a finite number of locally isolated Markov perfect equilibria that are all regular. These equilibria are essential and strongly stable. Moreover,...

Persistent link: https://www.econbiz.de/10005497794

Can the learnability criterion ensure determinacy in New Keynesian Models?

Minford, Patrick; Srinivasan, Naveen - C.E.P.R. Discussion Papers - 2012

Forward-looking RE models such as the popular New Keynesian (NK) model do not provide a unique prediction about how the model economy behaves. We need some mechanism that ensures determinacy. McCallum (2011) says it is not needed because models are learnable only with the determinate solution...

Persistent link: https://www.econbiz.de/10011083805

Democracy Undone. Systematic Minority Advantage in Competitive Vote Markets

Casella, Alessandra; Turban, Sébastien - C.E.P.R. Discussion Papers - 2012

We study the competitive equilibrium of a market for votes where voters can trade votes for a numeraire before making a decision via majority rule. The choice is binary and the number of supporters of either alternative is known. We identify a sufficient condition guaranteeing the existence of...

Persistent link: https://www.econbiz.de/10011084259