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Risk, institutions and growth: Why England and not China?

Greif, Avner; Iyigun, Murat; Sasson, Diego - 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://ebvufind01.dmz1.zbw.eu/10010278525

Risk, delegation, and project scope

Roider, Andreas - 2007

exogenous risk and delegation. That is, we show that only if exogenous risk is sufficiently large, the risk-neutral principal … may prefer to delegate authority over decisions to the risk-averse agent. Intuitively, for incentive reasons, the … principal may optimally want to allow the agent to reduce his risk exposure. Nevertheless, even endogenous risk may be higher …

Persistent link: https://ebvufind01.dmz1.zbw.eu/10010268503

The gender wage gap as a function of educational degree choices in an occupationally segregated EU country

Livanos, Ilias; Pouliakas, Konstantinos - 2009

in the type of degree studied can explain an additional 8.4% of the male-female pay gap. Risk-augmented earnings …

Persistent link: https://ebvufind01.dmz1.zbw.eu/10010269462

Heterogeneous life-cycle profiles, income risk and consumption inequality

Primiceri, Giorgio E.; van Rens, Thijs - 2007

Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of transitory shocks? The implications for consumption and welfare depend crucially on the answer to this question. We use CEX repeated cross-section data on consumption and income to...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10010276396

A Simulation of an Income Contingent Tuition Scheme in a Transition Economy

Vodopivec, Milan - 2004

The paper takes advantage of exceptionally rich longitudinal data on the universe of labor force participants in Slovenia and simulates the working of an income contingent loan scheme to partly recover tuition costs. The simulations show that under the base variant (where the target cost...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10010261999

A computationally practical simulation estimation algorithm for dynamic panel data models with unobserved endogenous state variables

Keane, Michael P.; Sauer, Robert M. - 2009

This paper develops a simulation estimation algorithm that is particularly useful for estimating dynamic panel data …

Persistent link: https://ebvufind01.dmz1.zbw.eu/10010271244

Simulation and Estimation of Hedonic Models

Heckman, James Joseph; Matzkin, Rosa Liliana; Nesheim, Lars - 2003

Making use of restrictions imposed by equilibrium, theoretical progress has been made on the nonparametric and semiparametric estimation and identification of scalar additive hedonic models (Ekeland, Heckman, and Nesheim, 2002) and scalar nonadditive hedonic models (Heckman, Matzkin, and...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10010275775

Measuring Labor Market Frictions: A Cross-Country Comparison

Ridder, Geert; van den Berg, Gerard J. - 2003

In this paper we define and estimate measures of labor market frictions using data on job durations. We compare different estimation methods and different types of data. We propose and apply an unconditional inference method that can be applied to aggregate duration data. It does not require...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10010261551

Profit Sharing, Credit Market Imperfections and Equilibrium Unemployment

Koskela, Erkki; Stenbacka, Rune - 2004

We investigate the interaction between labour and credit market imperfections for equilibrium unemployment in the presence of profit sharing. In a partial equilibrium with exogenous outside options increased bargaining power of banks has adverse employment effects. In a general equilibrium with...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10010261788

Life Cycle Time Allocation and Saving in an Imperfect Capital Market

Apps, Patricia; Rees, Ray - 2004

This paper combines income and expenditure with time use data to provide a unique picture of the time paths of labour supplies, saving and full consumption for two-adult households over the life cycle. These data are used to test the life cycle model presented in the paper, at the core of which...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10010261803