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Galor, Oded - 2018

This research explores the origins of loss aversion and the variation in its prevalence across regions, nations and ethnic group. It advances the hypothesis and establishes empirically that the evolution of loss aversion in the course of human history can be traced to the adaptation of...

Persistent link: https://www.econbiz.de/10012910744

Temperature and Joint Time Use

Cosaert, Sam; Nieto, Adrián; Tatsiramos, Konstantinos - 2023

We combine exogenous variation in temperature at the county-day level in the U.S. with daily time use data to examine the effect of temperature on joint time use. We show that low temperatures reduce time spent with friends but increase time spent with family. Conversely, high temperatures...

Persistent link: https://www.econbiz.de/10014348455

Risk Sharing Within and Outside the Firm : The Disparate Effects of Wrongful Discharge Laws on Expected Stock Returns

Mahlstedt, Robert; Weber, Rüdiger - 2021

We study the interrelation between two types of risk sharing -- within the firm and on capital markets -- by analyzing … the effect of wrongful-discharge laws (WDLs) on stock returns. Consistent with rational, risk-based pricing, the effect on … returns is linked to how shareholders and workers share systematic risk via distinct channels of employment and wage …

Persistent link: https://www.econbiz.de/10013246408

Risk Sharing within and Outside the Firm : The Disparate Effects of Wrongful Discharge Laws on Expected Stock Returns

Mahlstedt, Robert; Weber, Rüdiger - 2021

on the exact design of the law. Consistent with rational, risk-based pricing, the effect on returns seems to be linked to … how firms share systematic risk with their employees under the respective laws. Firms in states with WDLs prohibiting … employers from acting in bad faith have more intra-firm risk sharing and lower expected returns. Vaguer legislation that …

Persistent link: https://www.econbiz.de/10013314816

Financial Development and Economic Growth : Evidence from Ten New EU Members

Caporale, Guglielmo Maria - 2014

This paper reviews the main features of the banking and financial sector in ten new EU members, and then examines the relationship between financial development and economic growth in these countries by estimating a dynamic panel model over the period 1994-2007. The evidence suggests that the...

Persistent link: https://www.econbiz.de/10013047876

Two to Tangle : Financial Development, Political Instability and Economic Growth in Argentina (1896-2000)

Campos, Nauro; Karanasos, Menelaos; Tan, Bin - 2021

This paper investigates the effects of financial development and political instability on economic growth in a power-ARCH framework with data for Argentina from 1896 to 2000. Our findings suggest that (i) informal or unanticipated political instability (e.g., guerrilla warfare) has a direct...

Persistent link: https://www.econbiz.de/10013324919

Risk, Institutions and Growth : Why England and Not China?

Greif, Avner - 2011

We analyze the role of risk-sharing institutions in transitions to modern economies. Transitions requires individual …-level risk-taking in pursuing productivity-enhancing activities including using and developing new knowledge. Individual …-level, idiosyncratic risk implies that distinct risk-sharing institutions - even those providing the same level of insurance - can lead to …

Persistent link: https://www.econbiz.de/10013127725

Fertility Changes in Latin America in the Context of Economic Uncertainty

Adserà, Alícia - 2009

We explore the relation between fertility and the business cycle in Latin American countries taking advantage of the existing cross-country and within-country differences in both fertility and macroeconomic conditions. First, we use a panel of 18 nations for over 45 years to study how different...

Persistent link: https://www.econbiz.de/10012764660

International Specialization and the Return to Capital

Batista, Catia - 2010

How does factor accumulation affect the pattern of international specialization and returns to capital? We provide a new integrated treatment to this question using a panel of 44 developing and developed countries over the period 1976-2000. We confirm the Heckscher-Ohlin prediction that, with...

Persistent link: https://www.econbiz.de/10013148352

Thresholds in the Process of International Financial Integration

Kose, M. Ayhan - 2009

The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications for growth, especially for developing countries. The empirical literature has not been able to conclusively establish the presumed growth benefits of financial integration....

Persistent link: https://www.econbiz.de/10013160313