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We build a model of universities combining their real production decisions with their choice of endowment size and asset allocation. Variation in opportunity cost, that is, the productivity of internal projects, has a first-order effect on these choices. Adding the UPMIFA-mandated 7% payout...
Persistent link: https://www.econbiz.de/10013038167
Persistent link: https://www.econbiz.de/10012548252
This paper proposes a new approach to measure corporate sustainable performance called Sustainable Value Added. Value is created whenever benefits exceed costs. Current approaches to measure corporate sustainable performance take into account external costs caused by environmental and social...
Persistent link: https://www.econbiz.de/10001663592
categories are considered, namely ISEW and GPI based on corrections of GDP, sustainable or green(ed) GDP, genuine savings …
Persistent link: https://www.econbiz.de/10010430649
Persistent link: https://www.econbiz.de/10002652699
English couple households born in the 1940s. Here, 'optimal' wealth holdings are those that allow households to enjoy the same … calculate this level of wealth, and compare that with how much wealth households are observed to hold. We find that the majority … of households hold more wealth than our model suggests is optimal and that this would still be true even if housing …
Persistent link: https://www.econbiz.de/10010402537
We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel … information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The …
Persistent link: https://www.econbiz.de/10011551036
If Piketty's main theoretical prediction (r>g leads to rising wealth inequality) is taken to its radical conclusion …, then a small elite will own all wealth if capitalism is left to its own devices. We formulate and calibrate a Post …-Keynesian model with an endogenous distribution of wealth between workers and capitalists which permits such a corner solution of all …
Persistent link: https://www.econbiz.de/10011958545
If Piketty's main theoretical prediction (r>g leads to rising wealth inequality) is taken to its radical conclusion …, then a small elite will own all wealth if capitalism is left to its own devices. We formulate and calibrate a Post …-Keynesian model with an endogenous distribution of wealth between workers and capitalists which permits such a corner solution of all …
Persistent link: https://www.econbiz.de/10011927150