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Belief Elicitation in Experiments: Is there a Hedging Problem?

Blanco, Mariana; Engelmann, Dirk; Koch, Alexander K.; … - Institute for the Study of Labor (IZA) - 2008

existing belief elicitation results, (ii) can we avoid potential hedging confounds? Our results instill confidence regarding … both issues. We propose an experimental design that eliminates hedging opportunities, and use this to test for the … empirical relevance of hedging effects in the lab. We find no evidence for hedging, comparing the standard “hedging …

Persistent link: https://www.econbiz.de/10005761772

Efficient probit estimation with partially missing covariates

Conniffe, Denis; O'Neill, Donal - 2009

A common approach to dealing with missing data is to estimate the model on the common subset of data, by necessity throwing away potentially useful data. We derive a new probit type estimator for models with missing covariate data where the dependent variable is binary. For the benchmark case of...

Persistent link: https://www.econbiz.de/10010269313

Efficient Probit Estimation with Partially Missing Covariates

Conniffe, Denis; O'Neill, Donal - Institute for the Study of Labor (IZA) - 2009

Persistent link: https://www.econbiz.de/10005703303

Foreign Capital and Economic Growth

Prasad, Eswar S.; Rajan, Raghuram Govind; Subramanian, … - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007

We document the recent phenomenon of uphill flows of capital from nonindustrial toindustrial countries and analyze whether this pattern of capital flows has hurt growth innonindustrial economies that export capital. Surprisingly, we find that there is a positivecorrelation between current...

Persistent link: https://www.econbiz.de/10005861353

The Subjective Inflation Expectations of Households and Firms: Measurement, Determinants, and Implications

Weber, Michael; D’Acunto, Francesco; Gorodnichenko, Yuriy - 2022

Households' and firms' subjective inflation expectations play a central role in macroeconomic and intertemporal microeconomic models. We discuss how subjective inflation expectations are measured, the patterns they display, their determinants, and how they shape households' and firms' economic...

Persistent link: https://www.econbiz.de/10013351930

Macroeconomic Effects of UI Extensions at Short and Long Durations

Acosta, Miguel; Mueller, Andreas I.; Nakamura, Emi; … - 2023

We study the macroeconomic effects of unemployment insurance (UI) benefit extensions in the United States at short and long durations. To do this, we develop a new state level dataset on trigger variables for UI extensions and a "UI benefit calculator" based on detailed legislative and...

Persistent link: https://www.econbiz.de/10014377303

Generational accounting, solidarity and pension losses

Teulings, Coen N.; de Vries, Casper G. - 2003

The creeping stock market collapse eroded the wealth of funded pension systems. This led to political tensions between generations due to the fuzzy definition of property rights on the pension funds wealth. We argue that this problem can best be resolved by the introduction of generational...

Persistent link: https://www.econbiz.de/10010261654

The shift to services : a review of the literature

Schettkat, Ronald; Yocarini, Lara - 2003

The present paper provides an overview of literature on the shift to services. It follows the three dimensions of structural change - final demand, the inter-industry division of labor and inter-industry productivity differences. It first looks at the ?classics?, however (Fisher (1935), Clark...

Persistent link: https://www.econbiz.de/10010261657

Institutions in the Economic Fitness Landscape: What Impact Do Welfare State Institutions Have on Economic Performance?

Schettkat, Ronald - 2003

This paper uses data from 20 OECD countries to investigate the impact of welfare state institutions (especially employment protection, wage bargaining and work incentives) on the functioning of the labour market both theoretically and empirically. It shows that the impact of welfare state...

Persistent link: https://www.econbiz.de/10010262103

From Severance Pay to Self-Insurance: Effects of Severance Payments Savings Accounts in Colombia

Kugler, Adriana D. - 2002

In 1990 Colombia replaced its traditional system of severance payments with a new system of severance payments savings accounts (SPSAs). Although severance payments often are justified on the grounds that they provide insurance against earnings loss, they also increase costs for employers and...

Persistent link: https://www.econbiz.de/10010262813