Economic Journal

最新文章

• Non-expected utility, saving and portfolios AI翻译
  作者：Haliassos, M; Hassapis, C
  作者单位：University of Cyprus
  摘要：Despite increased stockholding opportunities, standard expected-utility models overpredict household participation and stock holdings. It has been suggested that departures from expected utility could resolve both puzzles. We investigate three measurable departures: (i) Kreps-Porteus preferences, (ii) Yaari's Dual Theory, and (iii) Quiggin's Rank-dependent Utility. Improvements tend to occur in predicted portfolio composition rather than participation, They are limited under (i), questionable ...
• New growth theory: An applied perspective. AI翻译
  作者：Agliardi, E
  作者单位：University of Bologna
• Trust and growth AI翻译
  作者：Zak, PJ; Knack, S
  作者单位：Claremont Colleges; Claremont Graduate University; The World Bank
  摘要：Why does trust vary so substantially across countries? This paper presents a general equilibrium growth model in which heterogeneous agents transact and face a moral hazard problem. Agents may trust those with whom they transact, but they also have the opportunity to invest resources in verifying the truthfulness of claims made by transactors. We characterise the social, economic and institutional environments in which trust will be high, and show that low trust environments reduce the rate of...
• The theory of money and financial institutions, vol 1 AI翻译
  作者：Bailey, RE
  作者单位：University of Essex
• Market integration, regionalism and the global economy. AI翻译
  作者：Robson, P
  作者单位：University of St Andrews
• Happiness, economy and institutions AI翻译
  作者：Frey, BS; Stutzer, A
  作者单位：University of Zurich
  摘要：Institutional factors in the form of direct democracy (via initiatives and referenda) and federal structure (local autonomy) systematically and sizeably raise self-reported individual well-being in a cross-regional econometric analysis. This positive effect can be attributed to political outcomes closer to voters' preferences, as well as to the procedural utility of political participation possibilities. Moreover, the results of previous microeconometric well-being functions for other countrie...
• Subsidised training and youth employment: Distinguishing unobserved heterogeneity from state dependence in labour market histories AI翻译
  作者：Magnac, T
  摘要：Using the 1990-2 wave of the French Labour Force Survey to study the employment histories of young people I consider transitions between six labour market states: employment contracts whether permanent or temporary, unemployment, training, education and non-participation. I use a fixed effect estimator in a dynamic multinomial logit model which can accommodate any form of unobserved heterogeneity in levels. This analysis can be extended to Markov processes of any order. I relate heterogeneity ...
• Screening by the company you keep: Joint liability lending and the peer selection effect AI翻译
  作者：Ghatak, M
  作者单位：University of Chicago
  摘要：We look at an economic environment where borrowers have some information about the nature of each other's projects that lenders do not. We show that joint-liability lending contracts, similar to those used by credit cooperatives and group-lending schemes, will induce endogenous peer selection in the formation of groups In a way that the instrument of joint liability can be used as a screening device to exploit this local information. This can improve welfare and repayment rates if standard scr...
• Handbook of applied econometrics, vol 1, Macroeconomics. AI翻译
  作者：Chambers, MJ
  作者单位：University of Essex
• Monetary policy and the great inflation in the United States: The federal reserve an the failure of macroeconomic policy, 1965-79. AI翻译
  作者：Minford, P
  作者单位：Cardiff University