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The macroeconomics of labor and credit market imperfections

Wasmer, Etienne; Weil, Philippe - 2000

Labor market frictions are not the only possible factor responsible for high unemployment. Credit market imperfections, driven by microeconomic frictions and impacted upon by macroeconomic factors such as monetary policy, could also be to blame. This paper shows that labor and credit market...

Persistent link: https://www.econbiz.de/10011336864

Not so lucky any more : CEO compensation in financially distressed firms

Kang, Qiang (contributor); Mitnik, Oscar A. (contributor) - 2008

There is a debate on whether executive pay reflects rent extraction due to "managerial power" or is the result of arms-length bargaining in a principal-agent framework. In this paper we offer a test of the managerial power hypothesis by empirically examining the CEO compensation of U.S. public...

Persistent link: https://www.econbiz.de/10003779098

The market for CEOs: building legacy and feeling empowered matter

Dupuy, Arnaud; Kennes, John; Lyng, Ran Sun - 2021

We develop a two-sided multidimensional matching model of the market for CEOs that allows for both pecuniary and non-pecuniary (amenity) compensation. The model is estimated by maximum likelihood estimation using matched CEO-firm data from Denmark. We show that CEOs have preferences for building...

Persistent link: https://www.econbiz.de/10012653095

Real estate prices and corporate investment : theory and evidence of heterogeneous effects across firms

Fougère, Denis; Lecat, Rémy; Ray, Simon - 2018

In this paper, we investigate the effect of real estate prices on productive investment. We build a simple theoretical framework of firms' investment with credit rationing and real estate collateral. We show that real estate prices affect firms' borrowing capacities through two channels. An...

Persistent link: https://www.econbiz.de/10011951732

Comparative analysis of zero coupon yield curve estimation methods using JGB price data

Kikuchi, Kentaro; Shintani, Kohei - In: Monetary and economic studies 30 (2012), pp. 75-121

Persistent link: https://www.econbiz.de/10009666594

The effect of extended unemployment benefit on the job finding hazards : a quasi-experiment in Japan

Machikita, Tomohiro; Kohara, Miki; Sasaki, Masaru - 2013

This paper studies how changes in extended unemployment insurance (UI) benefit affect the duration of unemployment. We investigate this question by exploiting not only strict age thresholds but also the pre-displacement tenure and the reason for separation from the previous job in the Japanese...

Persistent link: https://www.econbiz.de/10009788791

Intergenerational earnings mobility in Japan among sons and daughters : levels and trends

Lefranc, Arnaud; Ojima, Fumiaki; Yoshida, Takashi - 2012

This paper estimates the extent of intergenerational income mobility in Japan among sons and daughters born between … intergenerational income elasticity (IGE) for both sons and daughters, in Japan lies around .35, which is an intermediate value, by …. -- intergenerational mobility ; elasticity ; correlation ; earnings differentials ; income ; inequality ; trends ; Japan ; assortative …

Persistent link: https://www.econbiz.de/10009675517

Time-varying parameter VAR model with stochastic volatility : an overview of methodology and empirical applications

Nakajima, Jouchi - In: Monetary and economic studies 29 (2011), pp. 107-142

Persistent link: https://www.econbiz.de/10009385289

Productivity and fiscal policy in Japan : short-term forecasts from the standard growth model

İmrohoroğlu, Selahattin; Sudo, Nao - In: Monetary and economic studies 29 (2011), pp. 73-106

Persistent link: https://www.econbiz.de/10009385293

Japan and her dealings with offshoring : an empirical analysis with aggregate data

Agnese, Pablo - 2011

First moves towards a real understanding of offshoring date back to very recent times. In particular for Japan, the … percentage points for services and 0.48 to 0.64 for materials. -- offshoring ; Japan ; employment ; productivity …

Persistent link: https://www.econbiz.de/10009230680