Economist-Netherlands最新文献

The Price of Flexible Jobs: Wage Differentials between Permanent and Flexible Jobs in the Netherlands 弹性工作的价格:荷兰固定工作和弹性工作的工资差异

4区经济学

Economist-Netherlands Pub Date : 2023-11-14 DOI: 10.1007/s10645-023-09429-9

Cindy Biesenbeek, Maikel Volkerink

引用次数: 0

Distortions in Investment Timing and Quantity in Real Options with Asymmetric Information 信息不对称条件下实物期权投资时机和投资数量的扭曲

4区经济学

Economist-Netherlands Pub Date : 2023-11-10 DOI: 10.1007/s10645-023-09428-w

Maarten van Oosterhout, Gijsbert Zwart

{"title":"Distortions in Investment Timing and Quantity in Real Options with Asymmetric Information","authors":"Maarten van Oosterhout, Gijsbert Zwart","doi":"10.1007/s10645-023-09428-w","DOIUrl":"https://doi.org/10.1007/s10645-023-09428-w","url":null,"abstract":"Abstract We analyze real options investment under asymmetric information on investment costs, where decisions not only involve investment timing, but also investment quantity. A principal, the regulator, offers a menu of contracts to the agent (the regulated firm). The regulated firm has better information on costs than the regulator, and the optimal regulation trades off distortions in investment decisions and informational rents left to the firm. In a non-dynamic situation, it is well known that optimal contracts involve downward distortions on investment quantity. In the dynamic, real options situation, distortions also occur in investment timing: a high-cost firm’s investment will be delayed beyond the optimal time, until revenues reach a higher investment threshold. We explore the effect on investment quantity in this real option regulation under various assumptions on the stochastic process for revenues. On the one hand, the higher investment threshold tends to increase investment quantities, whereas screening of high-cost firms would favour reducing their investment quantity. We find a simple sufficient condition for the latter, quantity-reducing, effect to dominate, and show that it is satisfied for a wide range of commonly used stochastic processes.","PeriodicalId":46156,"journal":{"name":"Economist-Netherlands","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135092380","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Call for Papers: Special Issue on "Scientific Insights to Deliver Sustainable Growth and Full Employment" 征文:“实现可持续增长和充分就业的科学见解”特刊

4区经济学

Economist-Netherlands Pub Date : 2023-10-19 DOI: 10.1007/s10645-023-09426-y

引用次数: 0

Call for Papers: Special Issue on “Inequality in the Housing Market” “房屋市场不平等现象”特刊征文

4区经济学

Economist-Netherlands Pub Date : 2023-10-13 DOI: 10.1007/s10645-023-09427-x

引用次数: 0

Foreign Supply Shocks and the Structure of Trade in a Small Open Economy 对外供给冲击与小型开放经济中的贸易结构

4区经济学

Economist-Netherlands Pub Date : 2023-10-04 DOI: 10.1007/s10645-023-09425-z

Jonas Böschemeier, Karsten Mau

引用次数: 0

EXITitis in the UK: Gravity Estimates in the Aftermath of Brexit. 英国的EXITitis：英国脱欧后的重力估计。

IF 1.6 4区经济学

Economist-Netherlands Pub Date : 2023-01-01 Epub Date: 2023-04-29 DOI: 10.1007/s10645-023-09421-3

Steven Brakman, Harry Garretsen, Tristan Kohl

引用次数: 3

Synthetic Control Method for Dutch Policy Evaluation. 荷兰政策评价的综合控制方法。

IF 1.6 4区经济学

Economist-Netherlands Pub Date : 2023-01-01 DOI: 10.1007/s10645-022-09417-5

Nils Verheuvel, Joost Witteman, Marilou Vlaanderen

{"title":"Synthetic Control Method for Dutch Policy Evaluation.","authors":"Nils Verheuvel, Joost Witteman, Marilou Vlaanderen","doi":"10.1007/s10645-022-09417-5","DOIUrl":"https://doi.org/10.1007/s10645-022-09417-5","url":null,"abstract":"We apply the synthetic control method to a case study of the Dutch State Treasury Agency's funding policy. We study empirically what effect a change in funding strategy by the Dutch treasury had on market conditions. First, our results suggest that introducing more uncertainty to the funding policy, by means of a target range for capital market issuances, does not lead to a higher risk premium on Dutch government debt. Second, our paper shows that the synthetic control method, or the related constrained regression, is more suitable than a difference-in-differences method for this particular case study. The synthetic control method and constrained regression only include control units that are similar to the Netherlands. The difference-in-differences estimator includes all control countries, even ones that are not similar to the Netherlands. The difference-in-differences estimates incorrectly suggest that introducing more uncertainty in the funding policy leads to a higher risk premium. This shows that synthetic control and constrained regression are in some cases more suitable than a standard difference-in-differences. Furthermore, the synthetic control and constrained regression results hold when time and unit placebo tests are applied, whereas difference-in-differences results are not robust for this case study.","PeriodicalId":46156,"journal":{"name":"Economist-Netherlands","volume":null,"pages":null},"PeriodicalIF":1.6,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9806815/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"10751493","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Does Automatic Wage Indexation Destroy Jobs? A Machine Learning Approach. 自动工资指数化会毁掉工作吗？机器学习方法。

IF 2.4 4区经济学

Economist-Netherlands Pub Date : 2023-01-01 Epub Date: 2023-02-16 DOI: 10.1007/s10645-023-09418-y

Gert Bijnens, Shyngys Karimov, Jozef Konings

引用次数: 0

Can the Market Economy Deal with Sustainability? 市场经济能否解决可持续性问题？

IF 2.4 4区经济学

Economist-Netherlands Pub Date : 2023-01-01 Epub Date: 2022-12-22 DOI: 10.1007/s10645-022-09416-6

Dirk Schoenmaker, Hans Stegeman

引用次数: 0

Trust and Distrust in Pension Providers in Times of Decline and Reform: Analysis of Survey Data 2004-2021. 衰退与改革时期养老金提供者的信任与不信任:2004-2021年调查数据分析。

IF 1.6 4区经济学

Economist-Netherlands Pub Date : 2022-01-01 Epub Date: 2022-09-26 DOI: 10.1007/s10645-022-09411-x

Hendrik P van Dalen, Kène Henkens

{"title":"Trust and Distrust in Pension Providers in Times of Decline and Reform: Analysis of Survey Data 2004-2021.","authors":"Hendrik P van Dalen, Kène Henkens","doi":"10.1007/s10645-022-09411-x","DOIUrl":"https://doi.org/10.1007/s10645-022-09411-x","url":null,"abstract":"Trust in pension providers by participants is essential because pension providers try to fulfill their pension promises in a fundamentally uncertain world. Reforms and crises are therefore the ultimate testing ground for pension trust. In this paper we estimate with repeated cross-sectional survey data how trust and distrust in Dutch pension funds and the government have evolved over the period 2004-2021 and what the impact of financial stability on trust in these two institutions has been. Financial stability of pension funds, measured by their funding ratio, is shown to affect trust positively, but it does not decrease distrust significantly. Based on the estimation results, achieving a situation where the majority of the adult population trusts pension funds is likely to be attained at funding ratios of 115 or higher. Financial stability of government (measured by government debt/GDP ratio) does not affect either trust or distrust levels. Underlying drivers of distrust and trust such as personal characteristics are also notable: self-employed are more prone to distrust pension funds than employees. Women are more than men likely to take a neutral position.","PeriodicalId":46156,"journal":{"name":"Economist-Netherlands","volume":null,"pages":null},"PeriodicalIF":1.6,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9510197/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"40393333","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0