The Black-Scholes-Merton option valuation method involves deriving and solving a partial differential equation (PDE). But this method can generate multiple values for an option. We provide new solutions for the Cox-Ingersoll-Ross (CIR) term structure model, the constant elasticity of variance...

The Employment Cost Index measures the change in wage rates for a fixed set of jobs over time. The separate indices for industry and occupation groups grew at varying rates during the 1980s. However, their growth rates have been much more similar since then, which implies that the increase in...

The Employment Cost Index for wages and salaries is based on a comparison of the average wage rates for the same set of jobs across a three-month interval. Employment for the majority of the jobs remains the same over the three months. However, if the index were based solely on the jobs for...

We investigate the impact of tax subsidies on the firms decision to offer insurance, and on conditional firm spending on insurance. We do so using the micro-data underlying the Employee Compensation Index, which has a major advantage for this exercise: the matching of very high quality...