Showing 1 - 10 of 30
This note identifies profit shifting in response to cross-countrydifferences in corporate tax rates as a source of productivitymismeasurement. To quantify the magnitude of mismeasurement, theprofit-shifting effect is isolated from other possible effects ofcorporatetax rates changes on real...
Persistent link: https://www.econbiz.de/10010324505
We ask individuals for their reservation price of a specified lotteryand deduce their Arrow-Pratt measure of risk aversion.This allows direct testing of common hypotheses on risk attitudes inthree datasets. We find that risk aversion indeed fallswith income and wealth. Entrepreneurs are less...
Persistent link: https://www.econbiz.de/10010324557
In this paper we derive a structural measure for labor market density based on the Ellison and Glasear (1997) Index for industry concentration. This labor market density measure serves as a proxy for the number of workers that can reach a certain work area within a reasonal amount of traveling...
Persistent link: https://www.econbiz.de/10010324590
Most measures of vulnerability are a-theoretic and essentially static. In this paper we use a stochastic Ramsey model to find a household's optimal welfare and we measure vulnerability as the shortfall from the welfare attained if the household consumed permanently at the poverty line. The...
Persistent link: https://www.econbiz.de/10010325021
The establishment of appropriate policy measures for fighting unemployment has always been difficult since causes of unemployment are hard to identify. This paper analyses an approach used mainly in the 1960s and 1970s in economics, in which classification is used as a way to deal with such a...
Persistent link: https://www.econbiz.de/10010325353
Nancy Cartwright views models as blueprints for nomological machines - machines which, if properly shielded, generate lawlike behaviour or regularities. Marcel Boumans has argued that we can look for devices inside models which enable us to measure aspects of these regularities. So, if models do...
Persistent link: https://www.econbiz.de/10010325381
This paper contributes to the productivity literature by using results from firm-level productivity studies to improve forecasts of macro-level productivity growth. The paper employs current research methods on estimating firm-level productivity to build times-series components that capture the...
Persistent link: https://www.econbiz.de/10010325710
Actual portfolios contain fewer stocks than are implied by standard financial analysis that balances the costs of diversification against the benefits in terms of the standard deviation of the returns. Suppose a safety first investor cares about downside risk and recognizes the heavytail feature...
Persistent link: https://www.econbiz.de/10010325744
We propose a first order bias correction term for the Gini index to reduce the bias due to grouping. The first order correction term is obtained from studying the estimator of the Gini index within a measurement error framework. In addition, it reveals an intuitive formula for the remaining...
Persistent link: https://www.econbiz.de/10010325812
When analysing the volatility related to high frequency financial data, mostly non-parametric approaches based on realised or bipower variation are applied. This article instead starts from a continuous time diffusion model and derives a parametric analog at high frequency for it, allowing...
Persistent link: https://www.econbiz.de/10010326060