|
on Accounting and Auditing |
| By: | Martin Ljunge (University of Copenhagen and SITE) |
| Abstract: | I estimate a price elasticity of sickness absence. Sick leave is an intensive margin of labor supply where individuals are free to adjust. I exploit variation in tax rates over two decades, which provide thousands of differential incentives across time and space, to estimate the price responsiveness. High taxes provide an incentive to take more sick leave, as less after tax income is lost when taxes are high. The panel data, which is representative of the Swedish population, allow for extensive controls including unobserved individual characteristics. I find a substantial price elasticity of sick leave, -0.7, with respect to the net of tax rate. Though large relative to traditional labor supply elasticities, Swedes are half as price elastic as bike messengers, and just as elastic as stadium vendors on the margin which they can adjust freely. |
| Keywords: | sick leave, adjustable labor supply, work effort, taxes |
| JEL: | H31 I31 J22 |
| Date: | 2011–10–18 |
| URL: | http://d.repec.org/n?u=RePEc:kud:kuiedp:1127&r=acc |
| By: | Chrysanthi Balomenou; John Magridis |
| Abstract: | Our article consists of the following 4 parts: - In the first part: documented the importance of credit risk with the presentation - analysis of the growth of 6 Greek major financial institutions loan portfolio, for the period 2001 to 2008 and comparison of the loan amount with their own funds and total assets them (based on published accounts). - In the second part: we refer to the approval and monitoring procedures that should be followed by banks using the internal ratings (IRB) methods for corporate loans. Our interest is focused on linking credit ratings to the terms of financing (collateral costs) and on the importance of evaluation / assessment and collateral for the balance of exposures. For typesetting the above is estimated the Risk Weight Assets for PD rating scale (National Bank of Greece published data) and relevant Figure/diagram. - In the third part: we analyse the methodology of key criteria for evaluating the creditworthiness of companies. At the same time for a short description of Greek Business environment we used the -List Easy of Doing Business index 2010- of the World Bank and the results of the assessment of business sectors in Greece according to the model of Credit Risk Tracker Greece's Standard & Poor's, as published by the Hellastat. (The key criteria for evaluating creditworthiness of companies mainly come from research on the websites of the companies Fitch, S & P, Moody's KMV, Hellastat, Easy of Doing Business index). - In fourth part: presented, properly treated, the results of empirical research conducted through distribution of questionnaire to 25 experienced in Risk Management, executives, which was called to assess 20 companies on the basis of their specific quantitative and qualitative characteristics. Finally it is noted that in this final part are also presented all the findings and related conclusions, resulting from the scientific research throughout this paper. |
| Date: | 2011–09 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa11p946&r=acc |
| By: | Jamel Saadaoui (CEPN - Centre d'Economie de l'Université Paris Nord - Université Paris-Nord - Paris XIII - CNRS : UMR7234) |
| Abstract: | We investigate if capital account openness has played a major role in the evolution of global imbalances on the period 1980-2003. We estimate, with panel regression techniques, the impact of capital account openness on medium run current account imbalances for industrialized and emerging countries by using a de jure measure of capital account openness (the Chinn-Ito index of capital account openness, 2002, 2006) and a de facto measure of capital account openness (the gross foreign assets measured as the sum of foreign assets and foreign liabilities). By increasing the opportunities of overseas investments, the relative capital account openness has had positive impact on medium run current account balances of industrialized countries (because of downward pressures on domestic investment rates). Conversely, the relative capital account openness has had negative impact on medium run current account balances of emerging countries (because of upward pressures on domestic investment rates). The evolutions of domestic and foreign capital account openness have allowed increasing medium run current account balances in absolute value during this period. |
| Keywords: | Global Imbalances; Capital Account Openness; Chinn-Ito index |
| Date: | 2011–11–15 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cepnwp:halshs-00641456&r=acc |