infonet-economy

This article calls attention to a difficulty with insurers' investment policies that seems to have been overlooked so far. There is the distinct possibility that insurers cannot satisfy the demands of different stakeholders in terms of expected returns and volatility. While using the capital asset pricing model as the benchmark, this article distinguishes two groups of...

Dienst nach Vorschrift ist auf dem Vormarsch. Möchten Firmen von den Mitarbeitern mehr freiwilliges Engagement, müssen sie ihnen mehr Wertschätzung und Mitbestimmung geben.

Conventional fMRI analyses assess the summary of temporal information in terms of the coefficients of temporal basis functions. Based on established finite impulse response (FIR) analysis methodology we show how spatiotemporal statistical parametric maps may be concatenated to form Brain Activation Movies (BAMs), dynamic activation maps representing the temporal evolution of brain...

This paper investigates the relationship between trade openness and the size ofngovernments, both theoretically and empirically. We argue that openness can increase the size of governments through two channels: (1) a terms of trade externality, whereby trade lowers the domestic cost of taxation, and (2) the demand for insurance, whereby trade raises risk and public transfers. We...

This paper studies the responses of residential property and equity prices,ninflation and economic activity to monetary policy shocks in 17 countries, using data spanning 1986-2006. We estimate VARs for individual economies and panel VARs in which we distinguish between groups of countries on the basis of the characteristics of their financial systems. The results suggest that using...

This paper analyzes the effect of trade liberalization on government spending in a general equilibrium model with a continuum of industries supplying tradable and nontradable goods under monopolistic competition. Trade liberalization is modeled as the opening up of product markets between two countries, which may differ in total factor productivity, factor endowment and fix cost...

This paper examines whether contacts between caseworkers in public employment offices and employers impact on the reemployment chances of the unemployed they counsel. This analysis is made possible through a large administrative dataset on unemployed combined
with an extensive survey of caseworkers' characteristics and their strategies. This data was created for evaluating...

We propose and empirically study a pricing model for convertible bonds based on Monte Carlo simulation. The method uses parametric representations of the early exercise decisions and consists of two stages. Pricing convertible bonds with the proposed Monte Carlo approach allows us to better capture both the dynamics of the underlying state variables and the rich set of real-world...

Important empirical information on household behavior and household finances, used heavily by researchers, central banks, and for policy consulting, is obtained from surveys. However, various interdependent factors that can only be controlled to a limited extent lead to unit and item nonresponse, and missing data on certain items is a frequent source of difficulties in statistical...