ERN: Econometric Modeling in Microeconomics (Topic)最新文献_第2页

Relative Cohort Size, Relative Income, and Women’s Labor Force Participation 1968-2010 相对队列规模、相对收入和女性劳动力参与率1968-2010

ERN: Econometric Modeling in Microeconomics (Topic) Pub Date : 2011-08-22 DOI: 10.2139/ssrn.1913620

D. Macunovich

{"title":"Relative Cohort Size, Relative Income, and Women’s Labor Force Participation 1968-2010","authors":"D. Macunovich","doi":"10.2139/ssrn.1913620","DOIUrl":"https://doi.org/10.2139/ssrn.1913620","url":null,"abstract":"Relative cohort size – the ratio of young to prime-age adults – and relative income – the income of young adults relative to their material aspirations, as instrumented using the income of older families their parents' age – have experienced dramatic changes over the past 40 years. Relative cohort size has been shown to cause a decline in men's relative wages – the wages of young relative to prime-age workers – due to imperfect substitutability, and the results here show that this applies perhaps even more strongly to women's relative – and absolute – starting wage. Relative cohort size first declined by 30% and then increased by 47%. Results here show that those changes explain about 60% of the declines in women's starting wage – both relative and absolute – in the first period, and 100% of its increase in the second. Relative income is hypothesized to affect a number of demographic choices by young adults, including marriage, fertility and female labor force participation, as young people strive to achieve their desired standard of living. Older family income – the denominator in a relative income variable – increased by 58.6% between 1968 and 2000, and then declined by 9%. Its changes explain 66% of the increase in the labor force participation of women in their first five years out of school between 1968 and 2000, and 75% of its decline thereafter. The study makes use of individual-level measures of labor force participation, with instrumented wages, and employs the lagged income of older families in a woman’s year-state-race-education group to instrument parental income and hence material aspirations.","PeriodicalId":207453,"journal":{"name":"ERN: Econometric Modeling in Microeconomics (Topic)","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124902711","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 4

Hedge or Speculation? Evidence of the Use of Derivatives by Brazilian Firms During the Financial Crisis 对冲还是投机?金融危机期间巴西公司使用衍生品的证据

ERN: Econometric Modeling in Microeconomics (Topic) Pub Date : 2011-08-17 DOI: 10.2139/ssrn.1919940

J. Rossi

引用次数: 7

Opportunities to Divert, Firm Value, and Taxation: Theory and Evidence from European Firms 转移机会、企业价值与税收:来自欧洲企业的理论与证据

ERN: Econometric Modeling in Microeconomics (Topic) Pub Date : 2011-08-12 DOI: 10.2139/ssrn.1932606

Robert Kraemer, V. Lipatov

引用次数: 2

Is Leisure a Normal Good? Evidence from the European Parliament 休闲是正常的好事吗?来自欧洲议会的证据

ERN: Econometric Modeling in Microeconomics (Topic) Pub Date : 2011-08-01 DOI: 10.3386/W17329

N. Mocan, D. Altindag

引用次数: 4

Employment, Wages and Voter Turnout 就业、工资和选民投票率

ERN: Econometric Modeling in Microeconomics (Topic) Pub Date : 2011-08-01 DOI: 10.1257/APP.5.4.111

K. Charles, Melvin Stephens

{"title":"Employment, Wages and Voter Turnout","authors":"K. Charles, Melvin Stephens","doi":"10.1257/APP.5.4.111","DOIUrl":"https://doi.org/10.1257/APP.5.4.111","url":null,"abstract":"This paper argues that, since activities that provide political information are complementary with leisure, increased labor market activity should lower turnout, but should do so least in prominent elections where information is ubiquitous. Using official county-level voting data and a variety of OLS and TSLS models, we find that increases in wages and employment: reduce voter turnout in gubernatorial elections by a significant amount; have no effect on Presidential turnout; and raise the share of persons voting in a Presidential election who do not vote on a House of Representative election on the same ballot. We argue that this pattern (which contradicts some previous findings in the literature) can be fully accounted for by an information argument, and is either inconsistent with or not fully explicable by arguments based on citizens' psychological motivations to vote in good or bad times; changes in logistical voting costs; or transitory migration. Using individual-level panel data methods and multiple years' data from the American National Election Study (ANES) we confirm that increases in employment lead to less use of the media and reduced political knowledge, and present associational individual evidence that corroborates our main argument.","PeriodicalId":207453,"journal":{"name":"ERN: Econometric Modeling in Microeconomics (Topic)","volume":"91 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124670704","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 100

Destined for (Un)Happiness: Does Childhood Predict Adult Life Satisfaction? 注定(不)幸福:童年能预测成年生活满意度吗?

ERN: Econometric Modeling in Microeconomics (Topic) Pub Date : 2011-07-04 DOI: 10.2139/ssrn.1877632

P. Frijters, D. Johnston, M. Shields

{"title":"Destined for (Un)Happiness: Does Childhood Predict Adult Life Satisfaction?","authors":"P. Frijters, D. Johnston, M. Shields","doi":"10.2139/ssrn.1877632","DOIUrl":"https://doi.org/10.2139/ssrn.1877632","url":null,"abstract":"In this paper we address the question of how much of adult life satisfaction is predicted by childhood traits, parental characteristics and family socioeconomic status. Given the current focus of many national governments on measuring population well-being, and renewed focus on effective policy interventions to aid disadvantaged children, we study a cohort of children born in a particular week in 1958 in Britain who have been repeatedly surveyed for 50 years. Importantly, at four points in their adult lives this cohort has been asked about their life satisfaction (at ages 33, 42, 46, and 50). A substantive finding is that characteristics of the child and family at birth predict no more than 1.2% of the variance in average adult life satisfaction. A comprehensive set of child and family characteristics at ages 7, 11 and 16 increases the predictive power to only 2.8%, 4.3% and 6.8%, respectively. We find that the conventional measures of family socioeconomic status, in the form of parental education, occupational class and family income, are not strong predictors of adult life satisfaction. However, we find robust evidence that non-cognitive skills as measured by childhood behavioural-emotional problems, and social maladjustment, are powerful predictors of whether a child grows up to be a satisfied adult. We also find that some aspects of personality are important predictors. Adding contemporaneous adulthood variables for health and socio-economic status increases the predictability of average life satisfaction to 15.6%, while adding long-lags of life satisfaction increases the predictive power to a maximum of 35.5%. Repeating our analyses using data from the 1970 British Cohort Study confirms our main findings. Overall, the results presented in the paper point to average adult life satisfaction not being strongly predictable from a wide-range of childhood and family characteristics by age 16, which implies that there is high equality of opportunity to live a satisfied life, at least for individuals born in Britain in 1958 and 1970.","PeriodicalId":207453,"journal":{"name":"ERN: Econometric Modeling in Microeconomics (Topic)","volume":"89 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126024948","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 18

What Creates Abnormal Profits? 是什么创造了异常利润?

ERN: Econometric Modeling in Microeconomics (Topic) Pub Date : 2011-07-01 DOI: 10.1111/j.1467-9485.2011.00549.x

W. Griffiths, P. Jensen, Elizabeth Webster

引用次数: 32

A Supply and Demand Based Price Model for Financial Assets 基于供求关系的金融资产价格模型

ERN: Econometric Modeling in Microeconomics (Topic) Pub Date : 2011-06-30 DOI: 10.2139/ssrn.1875681

Takashi Kanamura

{"title":"A Supply and Demand Based Price Model for Financial Assets","authors":"Takashi Kanamura","doi":"10.2139/ssrn.1875681","DOIUrl":"https://doi.org/10.2139/ssrn.1875681","url":null,"abstract":"This paper proposes a price model for financial assets using the supply-demand relationship, referred to as a supply and demand based price (SDP) model for financial assets. The model demonstrates that stock price volatility is characterized by the downward sloping demand curve and volume fluctuation, not by another stochastic volatility process often employed in security markets. In particular, it is found that the flatter demand curve using inverse Box-Cox transformation with a positive parameter causes the asymmetric volatility, i.e., negative price return-volatility correlation, often observed in security markets. The model can also classify the asymmetric volatility into leverage effect and feedback effect examining the relationship between expected price return and volatility. We then characterize the time varying market price of risk based on the SDP model. Empirical studies using a recent decade data for many asset classes show that stock market indices, freight indices, and carbon assets possess positive inverse Box-Cox transformation parameters, resulting in asymmetric volatility while commodity-related assets tend to have negative parameters, resulting in inverse leverage effects. In contrast, using the long run data from 1950 to 2009, we illustrate the inverse leverage effect in security markets. Finally, we show that the positive risk and return relationship holds if the expected return is positive, regardless of the asset class.","PeriodicalId":207453,"journal":{"name":"ERN: Econometric Modeling in Microeconomics (Topic)","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124279323","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 6

For Benevolence and for Self-Interest: Social and Commercial Entrepreneurial Activity Across Nations 为仁与为利:跨国家的社会与商业创业活动

ERN: Econometric Modeling in Microeconomics (Topic) Pub Date : 2011-06-20 DOI: 10.2139/ssrn.1867039

S. Estrin, T. Mickiewicz, U. Stephan

引用次数: 25

Association between Reward and Employee Motivation: A Case Study Banking Sector of Pakistan 薪酬与员工激励的关系:以巴基斯坦银行业为例

ERN: Econometric Modeling in Microeconomics (Topic) Pub Date : 2011-06-03 DOI: 10.2139/ssrn.1857663

M. Shafiq, M. Naseem

引用次数: 28