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Worker Mobility in a Global Labor Market : Evidence from the United Arab Emirates

Naidu, Suresh - 2014

In 2011, a reform in the United Arab Emirates allowed any employer to renew a migrant's visa upon contract expiration without written permission from the initial employer. We find that the reform increased incumbent migrants' earnings and firm retention of these workers. This occurs despite an...

Persistent link: https://www.econbiz.de/10013048578

Asymmetric Information and Remittances : Evidence from Matched Administrative Data

Joseph, Thomas - 2015

Using new data matching remittances and monthly payroll disbursals, we demonstrate how fluctuations in migrants' earnings in the United Arab Emirates affect their remittances. We consider three types of income fluctuations that are observable by families at home: seasonalities, weather shocks...

Persistent link: https://www.econbiz.de/10013027259

Housing Busts and Household Mobility : an Update

Ferreira, Fernando Vendramel - 2011

This paper provides updated estimates of the impact of three financial frictions - negative equity, mortgage lock-in, and property tax lock-in - on household mobility. We add the 2009 wave of the American Housing Survey (AHS) to our sample and also create an improved measure of permanent moves...

Persistent link: https://www.econbiz.de/10013120305

Corporate Governance, Debt, and Investment Policy During the Great Depression

Graham, John R. - 2011

investment, debt usage, and firm value. During the 1930-1938 Depression era, when the corporate sector was shocked by an …) and use more debt during the 1930s. We document similar effects for the number of outside directors on the board. Finally …

Persistent link: https://www.econbiz.de/10013120319

The Decline in Bank-Led Corporate Restructuring in Japan : 1981-2010

Hoshi, Takeo - 2017

Using a unique dataset on all major corporate restructuring events in Japan between 1981 and 2010, we examine how bank-led rescue operations in Japan have changed over time. The incidence of restructuring by distressed firms has become less frequent after the 1990s. When firms undergo...

Persistent link: https://www.econbiz.de/10012949406

Dynamics of Housing Debt in the Recent Boom and Great Recession

Adelino, Manuel - 2017

This paper documents a number of key facts about the evolution of mortgage debt, homeownership, debt burden and … the entire income distribution, i.e. the flow and stock of debt rose across all income groups (except for the top 5%). The … the run up in mortgage debt over the pre-crisis period was driven by rising home values and expectations of increasing …

Persistent link: https://www.econbiz.de/10012954467

A Debt Puzzle

Laibson, David I.; Repetto, Andrea; Tobacman, Jeremy - 2021

Over 60% of US households with credit cards are currently borrowing -- i.e., paying interest -- on those cards. We attempt to reconcile the high rate of credit card borrowing with observed levels of life cycle wealth accumulation. We simulate a lifecycle model with five properties that create...

Persistent link: https://www.econbiz.de/10013219688

Currency Mismatches, Debt Intolerance and Original Sin : Why They are Not the Same and Why it Matters

Eichengreen, Barry; Hausmann, Ricardo; Panizza, Ugo - 2021

crises. In this paper we discuss three concepts widely used in this literature. Two of them original sin' and debt … countries have in servicing and repaying their debts. The debt-intolerance school traces the problem to institutional weaknesses …

Persistent link: https://www.econbiz.de/10013225038

Fire Sales in Finance and Macroeconomics

Shleifer, Andrei - 2010

Fire sales are forced sales of assets in which high-valuation bidders are sidelined, typically due to debt overhang …

Persistent link: https://www.econbiz.de/10013134890

Financial Crises, Credit Booms, and External Imbalances : 140 Years of Lessons

Jorda, Oscar - 2010

Do external imbalances increase the risk of financial crises? In this paper, we study the experience of 14 developed countries over 140 years (1870-2008). We exploit our long-run dataset in a number of different ways. First, we apply new statistical tools to describe the temporal and spatial...

Persistent link: https://www.econbiz.de/10013135415