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on Investment |
| By: | Danziger, Eliav (Simon Fraser University); Danziger, Leif (Ben Gurion University) |
| Abstract: | This paper explores how a minimum wage affects a firm's behavior with a competitive labor market and an uncertain export cost. The model provides several novel insights which are consistent with recent empirical evidence. Thus, a minimum wage increases an exporter's foreign-market size and may cause a non-exporter to start exporting. The foreign-market size may increase so much that, although the home-market size decreases, the overall firm size increases. |
| Keywords: | exports, minimum wage, firm size |
| JEL: | J30 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16846&r=inv |
| By: | Bilbiie, F. O.; Trabandt, M. |
| Abstract: | We show an equivalence result in the standard representative agent New Keynesian model after demand shocks: assuming sticky prices and flexible wages yields identical allocations for GDP, consumption, labor, inflation and interest rates to the opposite case flexible prices and sticky wages. This equivalence result arises if the price and wage Phillips curves-slopes are identical and generalizes to any pair of price and wage Phillips curve slopes such that their sum and product are identical. Nevertheless, the cyclical implications for profits and wages are substantially different. We discuss how the equivalence breaks when these factor-distributional implications matter for aggregate allocations, e.g. in New Keynesian models with heterogeneous agents, endogenous firm entry, and non-constant returns to scale in production. |
| Keywords: | inflation, Interest Rate, New Keynesian Model, Observational Equivalence, Output, Sticky Prices, Sticky Wages |
| JEL: | E10 E30 E50 |
| Date: | 2023–10–20 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camjip:2318&r=inv |
| By: | Judith K. Hellerstein; Sai Luo; Sergio S. Urzúa |
| Abstract: | Recent research concludes that wage returns to cognitive skills have declined in the U.S. We reassess this finding. Using decomposition methods, we document the pivotal role played by dynamic shifts in the distributions of pre-labor market cognitive skills. Our findings show these shifts explain the declining estimated returns to cognitive skills, especially for white men. We discard measurement error as a potential driver. Although often overlooked, grappling with changing pre-labor market skill distributions is necessary for capturing the evolution of labor market returns to cognitive skills. This may prove especially important in the future given continuing changes in skill development in recent youth cohorts. |
| JEL: | J24 J31 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:32229&r=inv |
| By: | Gayle, Philip; Harrison, Teresa |
| Abstract: | Nonprofit (NP) organizations provide key social service goods but rely on donations, obtained in a competitive environment, for that provision. Yet most research focuses on competition in the output markets without considering inter- and intra-sector competition in the markets for donations. This paper develops and estimates a model of NPs’ fundraising to secure donations. We highlight the strategic nature of the fundraising decision and show theoretically that rival NPs’ fundraising responses can be either strategic complements or strategic substitutes but find empirically that responses are predominantly strategic substitutes. We find that donors are relatively inelastic to fundraising but also that NPs have nontrivial responses to rival’s fundraising and these effects are stronger within than across sectors. However, in totality, the across sector impacts are important to consider. We find that counterfactually removing a NP from a market increases equilibrium NP-level fundraising but decreases total fundraising in the market. |
| Keywords: | Fundraising; Donative Markets |
| JEL: | L13 L22 L30 |
| Date: | 2023–12–04 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:120459&r=inv |
| By: | Effrosnyi Adamopoulou; Luis Diez-Catalan; Ernesto Villanueva |
| Abstract: | This paper studies the impact of downward wage rigidity on wage and employment dynamics after the outbreak of major recessions in Spain. Downward wage rigidity stems from collective agreements, which set province-sector-skill specific minimum wage floors for all workers. By exploiting variation in the renewal of collective contracts, we find that agreements signed before the onset of recessions settle on higher nominal negotiated wage growth than agreements signed after. Leveraging Social Security data and the distribution of the worker-level bite of minimum wage floors, we document that the negotiated wage rigidity translated into higher wage growth mainly among workers with wages close to the floors. Consequently, these workers experienced a substantial and highly persistent increase in the probability of non-employment but only if they were covered by collective agreements of long duration. Our findings highlight the interplay between rigidity at different parts of the wage distribution and labor market institutions and identify conditions under which collective contract staggering and the inability to renegotiate may amplify aggregate shocks. |
| Keywords: | Employment, Job Separation, Collective Bargaining, Wage Rigidity, Staggering, Social Security Data |
| JEL: | J23 J31 J50 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2022_379v2&r=inv |
| By: | Grunau, Philipp; Hoffmann, Florian; Lemieux, Thomas; Titze, Mirko |
| Abstract: | We study the wage and employment effects of a German place-based policy using a research design that exploits conditionally exogenous EU-wide rules governing the program parameters at the regional level. The place-based program subsidi- zes investments to create jobs with a subsidy rate that varies across labor market regions. The analysis uses matched data on the universe of establishments and their employees, establishment-level panel data on program participation, and regional scores that generate spatial discontinuities in program eligibility and generosity. These rich data enable us to study the incidence of the place-based program on different groups of individuals. We find that the program helps establishments create jobs that disproportionately benefit younger and less-educated workers. Funded establishments increase their wages but, unlike employment, wage gains do not persist in the long run. Employment effects estimated at the local area level are slightly larger than establishment-level estimates, suggesting limited spillover effects. Using subsidy rates as an instrumental variable for actual subsidies indicates that it costs approximately EUR 25, 000 to create a new job in the economically disadvantaged areas targeted by the program. |
| Keywords: | local labor market, matched employer-employee data, place-based policies |
| JEL: | D04 H25 J21 J31 J61 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iwhdps:289442&r=inv |
| By: | - |
| Abstract: | En el presente documento se analiza y caracteriza la pobreza energética en la Argentina. En él se aborda el tema mediante un enfoque flexible que considera aspectos históricos, sociales y territoriales. Se define la pobreza energética como la incapacidad de los hogares para satisfacer de manera continua y segura sus necesidades energéticas. El enfoque se desglosa en dimensiones como acceso, calidad y asequibilidad de los servicios energéticos, con indicadores específicos para medir cada una. Finalmente, el objetivo central es proporcionar una metodología de diagnóstico integral y adaptable a diferentes áreas del país. |
| Date: | 2024–02–13 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col022:68945&r=inv |
| By: | Joseph Briggs (Goldman Sachs); Andrew Chaplin (New York University, NBER); Soeren Leth-Petersen (Department of Economics, University of Copenhagen); Christopher Tonetti (Stanford Graduate School of Business, NBER) |
| Abstract: | We develop a method to identify the individual latent propensity to select into treatment and marginal treatment effects. Identification is achieved with survey data on individuals’ subjective expectations of their treatment propensity and of their treatmentcontingent outcomes. We use the method to study how child birth affects female labor supply in Denmark. We find limited latent heterogeneity and large short-term effects that vanish by 18 months after birth. We support the validity of the identifying assumptions in this context by using administrative data to show that the average treatment effect on the treated computed using our method and traditional event-study methods are nearly equal. Finally, we study the effects of counterfactual changes to child care cost and quality on female labor supply. |
| Keywords: | marginal treatment effects, survey data, expectations |
| JEL: | C32 C52 C83 J13 J22 |
| Date: | 2024–04–11 |
| URL: | http://d.repec.org/n?u=RePEc:kud:kucebi:2406&r=inv |
| By: | Shaojie Li; Xinqi Dong; Danqing Ma; Bo Dang; Hengyi Zang; Yulu Gong |
| Abstract: | Mobile Internet user credit assessment is an important way for communication operators to establish decisions and formulate measures, and it is also a guarantee for operators to obtain expected benefits. However, credit evaluation methods have long been monopolized by financial industries such as banks and credit. As supporters and providers of platform network technology and network resources, communication operators are also builders and maintainers of communication networks. Internet data improves the user's credit evaluation strategy. This paper uses the massive data provided by communication operators to carry out research on the operator's user credit evaluation model based on the fusion LightGBM algorithm. First, for the massive data related to user evaluation provided by operators, key features are extracted by data preprocessing and feature engineering methods, and a multi-dimensional feature set with statistical significance is constructed; then, linear regression, decision tree, LightGBM, and other machine learning algorithms build multiple basic models to find the best basic model; finally, integrates Averaging, Voting, Blending, Stacking and other integrated algorithms to refine multiple fusion models, and finally establish the most suitable fusion model for operator user evaluation. |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2403.14483&r=inv |
| By: | Lee, David |
| Abstract: | This paper presents a model to calculate daily returns and corresponding value changes of hedge funds. In the past, the values of hedge funds were typically available on a monthly basis. The model link daily hedge fund performance with the returns on indices selected to provide a comprehensive spectrum of possible market exposures. The model gives an estimate of the daily returns of hedge funds based on the daily values of a list of market indices. The daily return of each hedge fund is estimated as a linear combination of daily market index returns. The coefficients of this linear combination are obtained through linear regression of monthly index returns against monthly hedge fund returns. |
| Keywords: | hedge fund performance, daily return, cash flow, market index, linear regression. |
| JEL: | C1 C13 C51 G11 G12 |
| Date: | 2024–03–02 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:120350&r=inv |
| By: | Yohan Pelosse (Humanities and Social Sciences, Swansea University) |
| Abstract: | A primitive assumption underlying Aumann (1974, 1987) is that all players of a game may correlate their strategies by agreeing on a common single ’public roulette’. A natural extension of this idea is the study of strategies when the assumption of a single randomdevice common to all the players (public roulette) is dropped and (arbitrary) disjoint subsets of players forming a coalition structure are allowed to use independent randomdevices (private roulette) a la Aumann. Undermultiple independent randomdevices, the coalitionsmixed strategies forman equilibrium of the induced non-cooperative game played across the coalitions–the ’partitioned game’–when the profile of such coalitions’ strategies is a profile of correlated equilibria. These correlated equilibria which are themutual joint best responses of the coalitions are called the Nash coalitional correlated equilibria (NCCEs) of the game. The paper identifies various classes of finite and infinite games where there exists a non-empty set of NCCEs lying outside the regular correlated equilibrium distributions of the game. We notably relate the class of NCCEs to the ’coalitional equilibria’ introduced in Ray and Vohra (1997) to construct their ’Equilibrium Binding Agreements’. In a ’coalitional equilibrium’, coalitions’ best responses are defined by Pareto dominance and their existence are not guaranteed in arbitrary games without the use of correlated mixed strategies. We characterize a family of games where the existence of a non-empty set of non-trivial NCCEs is guaranteed to coincide with a subset of coalitional equilibria. Most of our results are based on the characterization of the induced non-cooperative ’partitioned game’ played across the coalitions. |
| JEL: | C72 C92 D83 |
| Date: | 2024–03–17 |
| URL: | http://d.repec.org/n?u=RePEc:swn:wpaper:2024-05&r=inv |
| By: | Maxime Liegey; Nathalie Picard |
| Abstract: | This paper aims to contribute to the analysis of the impact of employees’ working conditions on union membership by specifically examining whether being exposed to job strain (or job iso-strain) increases the propensity to join unions. The study is based on data from the REPONSE survey, carried out in France in 2011. Two-level (individual / economic sector) logistic regression models are used to analyse the individual decision of union membership while accounting for sectoral effects. The results indicate that having a job with low or medium decision latitude (as opposed to high decision latitude) is associated with a higher probability of union membership. This latter effect is stronger when support from the hierarchy is low rather than high or medium. By contrast, the level of psychological demand does not seem to have any significant influence on unionisation. The link between job iso-strain (or a certain form of iso-strain) and union membership remains significant when the potential endogeneity of this factor is taken into account. These findings lend some support to theories like the frustration-aggression approach, which relates the union membership decision to work dissatisfaction and the desire of employees to change their working conditions. |
| Keywords: | Trade unions; Union membership; Working conditions; Job strain; Economic sectors; France. |
| JEL: | C33 J31 J42 J62 R10 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:ulp:sbbeta:2024-11&r=inv |
| By: | Bruno de Melo |
| Abstract: | Performance attribution analysis, defined as the process of explaining the drivers of the excess performance of an investment portfolio against a benchmark, stands as a significant aspect of portfolio management and plays a crucial role in the investment decision-making process, particularly within the fund management industry. Rooted in a solid financial and mathematical framework, the importance and methodologies of this analytical technique are extensively documented across numerous academic research papers and books. The integration of large language models (LLMs) and AI agents marks a groundbreaking development in this field. These agents are designed to automate and enhance the performance attribution analysis by accurately calculating and analyzing portfolio performances against benchmarks. In this study, we introduce the application of an AI Agent for a variety of essential performance attribution tasks, including the analysis of performance drivers and utilizing LLMs as calculation engine for multi-level attribution analysis and question-answer (QA) exercises. Leveraging advanced prompt engineering techniques such as Chain-of-Thought (CoT) and Plan and Solve (PS), and employing a standard agent framework from LangChain, the research achieves promising results: it achieves accuracy rates exceeding 93% in analyzing performance drivers, attains 100% in multi-level attribution calculations, and surpasses 84% accuracy in QA exercises that simulate official examination standards. These findings affirm the impactful role of AI agents, prompt engineering and evaluation in advancing portfolio management processes, highlighting a significant advancement in the practical application and evaluation of AI technologies within the domain. |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2403.10482&r=inv |
| By: | Dinarte Diaz, Lelys (World Bank) |
| Abstract: | Globally, 150 million adolescents report being victims of or engaging in peer-to-peer violence in and around school. One strategy to reduce this risk is to occupy youth in after-school programs (ASP). Yet, the question remains: how does peer group composition affect the effectiveness of an ASP? I address this question by randomly assigning youths to either a control, homogeneous, or heterogeneous peer group within an ASP implemented in El Salvador. I find that, unlike homogeneous groups, heterogeneous peer groups do help students avoid violence. These results are relevant to public policy discussions on optimal group composition for violence reduction programs. |
| Keywords: | peer effects, violence, integration, tracking, after-school programs |
| JEL: | I29 K42 Z13 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16830&r=inv |
| By: | Choi, Jae Hee (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)) |
| Abstract: | 본 연구에서는 중국 전기차 배터리 시장의 현황과 중국산 배터리의 글로벌 경쟁력에 대해 살펴보고, 중국기업의 유형별 해외 진출 사례와 특징을 분석했다. 또한 중국의 대표 전기차 배터리 기업을 선정하여 해당 기업의 해외 사업 전략과 경쟁력을 파악하고, 우리 정부와 기업이 활용할 수 있는 종합적인 대응방안을 고찰했다. Chinese EV battery companies, which dominate the Chinese domestic market, are recently entering global market in earnest. The demand for Chinese batteries is also rising as the demand for batteries increases due to the rapid pace of EV conversion in major automobile markets such as Europe and the United States. As the global market share of Chinese companies rises rapidly, the market share of Korean battery companies, which previously dominated the global battery market, is falling. As competition between Korea and China is expected to intensify in the global market in the future, it can be said that identifying the types and characteristics of Chinese companies’ global expansion and analyzing the strategies and competitiveness of major companies is essential to enhancing and maintaining the global competitiveness of the Korean battery industry. Accordingly, this study aims to examine the current status of the Chinese market and the global competitiveness of Chinese batteries, and to understand the characteristics of each type of global expansion of Chinese companies. In addition, I selected China’s leading EV battery companies to analyze their strategies and competitiveness, and consider comprehensive countermeasures that the Korean government and companies can utilize. In Chapter 2, to examine the development of the Chinese EV battery industry, I examines the Chinese market in terms of supply and demand, and identified the recent oversupply phenomenon that has emerged in the Chinese market. I also compared the level of competitiveness of the Chinese battery industry with that of Korea. First of all, in terms of demand, China is already the world’s largest EV battery market, and battery demand is expected to grow continuously until 2025, reaching more than 1TWh. In the Chinese EV battery market, the demand for LFP batteries compared to ternary batteries is increasing rapidly, and LFP batteries are used in 67% of Chinese EVs in 2023. On the supply side, CATL secures a majority of the market share in the ternary battery sector, and BYD and CATL occupy more than 70% of the market in the LFP battery sector. In addition, as the production capacity of batteries in China increases rapidly, the oversupply phenomenon in the Chinese market is intensifying. (the rest omitted) |
| Keywords: | Economic security; energy industry; China; battery; electric vehicle battery; secondary battery; supply chain |
| Date: | 2024–03–27 |
| URL: | http://d.repec.org/n?u=RePEc:ris:kiepre:2023_012&r=inv |
| By: | R, Pazhanisamy |
| Abstract: | The purpose of this paper is to explore the impact of BRICS unions’ currency on the Dollar and its performances on international trade among the nations. The compound reviews of literature on the classical, neo classical and modern theories of trade reveals the non existence of research works on the multinational union currencies and its impact on the validity of the dollar and the economic gain of the nations and its influence over the trade activities for which this attempt is made. Due to lack of availability of the numerical data on the new currency and its impact over the economics through trade the graphical approach is used with the logical realistic assumptions and justified how the value of currencies of BRICS nations in international market would certainly be appreciate. It also portrays that how simultaneously the dominant dollar depreciate its value through the market forces of demand and supply changes in the global scale |
| Keywords: | BRICS currency, Alternative to Dollar, Gain from trade, Value of currency in the international market, Foreign Exchange Exploitation, Solutions to US sanction |
| JEL: | E44 E51 E58 F23 F3 F33 F36 F38 F52 F55 G15 G21 P51 |
| Date: | 2024–01–03 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:120538&r=inv |
| By: | Bilbiie, F. O.; Melitz, M. J. |
| Abstract: | Due to its impact on nominal firm profits, price rigidity amplifies the response of entry and exit to supply shocks. When those supply shocks are negative, such as those following supply chain disruptions, this “entry-exit multiplier†substantially magnifies the associated welfare losses—especially when wages are also rigid. This is in stark contrast to the benchmark New Keynesian model (NK), which predicts a positive output gap in response to that same shock under the same monetary policy. Endogenous entry-exit thus radically changes the consequences of nominal rigidities. In addition to the aggregate-demand amplification of supply disruptions, our model also reconciles the response of hours worked across the NK and RBC models. And unlike the standard NK model, our model can also be used to evaluate how monetary expansions can alleviate or even eliminate the negative output gap induced by supply disruptions. |
| Keywords: | Aggregate Demand and Supply, Entry-Exit, Monetary Policy, Recessions, Sticky Prices, Sticky Wages, Variety |
| JEL: | E30 E40 E50 E60 |
| Date: | 2023–10–20 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camjip:2317&r=inv |
| By: | Gunes Kamber; James Morley; Benjamin Wong |
| Abstract: | We revisit some popular univariate trend-cycle decomposition methods given the Covid-era data and find that only the output gap estimates from the Beveridge-Nelson filter remain both intuitive and reliable throughout the crisis and its aftermath. The real-time Hodrick-Prescott filter estimates for the output gap just prior to the pandemic are highly unreliable, although the estimated gap during the pandemic is reasonably similar to that of the Beveridge-Nelson filter. The Hamilton filter produces reliable estimates, but suffers from base effects that imply a purely mechanical spike in the output gap exactly two years after the onset of the crisis, in line with the filter horizon. Notably, unlike with the Beveridge-Nelson and Hodrick-Prescott filters, forecasts of the output gap for the Hamilton filter do not settle down to zero given plausible projected values of future output growth and display large spurious dynamics due to base effects given a simulated Covid-like shock in the projection. We also provide some refinements to the original Beveridge-Nelson filter that produce even more intuitive estimates of the output gap, while retaining the same strong revision properties. |
| Keywords: | Beveridge-Nelson decomposition, output gap, real-time reliability |
| JEL: | C18 E17 E32 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:een:camaaa:2024-24&r=inv |
| By: | N. Meltem Daysal (University of Copenhagen, CEBI, IZA, CESIfo); Mikkel Hasse Pedersen (Incentive DK); William N. Evans (University of Notre Dame, NBER); Mircea Trandafir (Rockwool Foundation Research Unit, IZA) |
| Abstract: | We investigate the effects of radiation therapy on the mortality and economic outcomes of breast cancer patients. We implement a 2SLS strategy within a difference-in-difference framework exploiting variation in treatment stemming from a medical guideline change in Denmark. Using administrative data, we reproduce results from an RCT showing the lifesaving benefits of radiotherapy. We then show therapy also has economic returns: ten years after diagnosis, treatment increases employment by 37% and earnings by 45%. Mortality and economic results are driven by results for more educated women, indicating that equalizing access to treatment may not be sufficient to reduce health inequalities. |
| Keywords: | breast cancer, medical treatments, labor market outcomes, disability |
| JEL: | I10 I18 J16 J24 |
| Date: | 2022–12–17 |
| URL: | http://d.repec.org/n?u=RePEc:kud:kucebi:2223&r=inv |
| By: | Kythreotis, Andrew P.; Hannaford, Matthew; Howarth, Candice; Bosworth, Gary |
| Abstract: | Climate risk continues to be framed ostensibly in terms of physical, socio-economic and/or ecological risks, as evidenced in the 2012 and 2017 UK Climate Change Risk Assessment (CCRA) evidence reports. This article argues that framing climate risk in this way remains problematic for the science-policy process, particularly in ensuring adequate climate risk assessment information translates into more effective adaptation decision-making. We argue how climate risk assessments need to further consider the social and political aspects of place-based climate risk to ensure more effective adaptation policy outcomes. Using a discourse analysis of the CCRA3 Technical Report methods chapter published in June 2021, we discuss three critical themes around how climate risk is currently framed within the Technical Report methods chapter. These are (i) the over-reliance on reductive methodological framing of assessing climate risk through ‘urgency scores’; (ii) the idea of what constitutes ‘opportunity’; and (iii) the framing of transformational adaptation discourses through the lens of climate risk. To conclude, we suggest that to move beyond assessing risk solely in terms of biophysical and socio-economic risk, a greater emphasis on the social and political contexts of ‘place-based’ risk needs to be central to climate change risk assessments. |
| Keywords: | climate change risk assessments; social and political risk; place-based climate action; adaptation decision-making and transformation; adaptation policy and governance; CCRA3; Andrew Kythreotis and Candice Howarth thank the British Academy and the Department of Business; Energy and Industrial Strategy for funding to continue this research in the context of the new civil politics of climate change (Ref. SRG19\190291); ES/S008381/1; 'through through the PlaceBased Climate Action Network' |
| JEL: | N0 |
| Date: | 2024–04–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:122155&r=inv |
| By: | - |
| Abstract: | Social protection systems in Latin America and the Caribbean face multiple challenges to enhance their universality, comprehensiveness, sustainability and resilience. The region must tackle structural inequalities that are reflected in the coverage, sufficiency and financial sustainability of these systems. These issues are exacerbated by additional problems related to a highly complex context. A series of cascading crises, which includes the health, economic and social impacts of the COVID-19 pandemic, has been compounded by a reconfigured social risk structure that conditions the future of social protection systems. The overall challenge is threefold and involves (i) closing the structural gaps in these systems that have existed in the region since before the pandemic, (ii) designing strategies to reverse the profound impacts of the pandemic on the population’s well-being, and (iii) preparing for a more complex reality for the future of social protection. This requires bolstering specific instruments and the systemic, comprehensive and resilient approach to social protection systems. In addition to identifying the main structural challenges of social protection systems and the social protection responses that countries implemented during the pandemic, this document seeks to characterise the current risk structure in the region. The argument is made that this risk structure conditions the future of social protection systems in terms of the design, content and institutional framework of the policies and instruments that are needed. These systems must prepare for a wider range of social risks that undermine rights and may result in the loss of welfare levels. In the current context, social protection must be strengthened to be able to transform the underlying conditions of vulnerability faced by persons, households and territories. To this end, this document lays out policy recommendations, cross-cutting priorities and guidelines for strengthening their institutional capacities. |
| Date: | 2024–03–05 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col041:69035&r=inv |
| By: | Kopp, Daniel (ETH Zurich) |
| Abstract: | Part-time work is a popular way to reconcile work and family responsibilities. This study investigates how easy it is for men and women to get part-time jobs. To assess this question, I first analyze the hiring decisions of recruiters who screen jobseekers on an online recruiting platform and estimate contact penalties for men and women seeking part-time jobs. Second, I relate the number of hours advertised in online job postings to firms' confidentially reported gender preferences. I find that recruiters prefer full-time over part-time workers, and that part-time penalties are more pronounced for men than for women. Differences in job or workplace characteristics cannot explain these results. Instead, the preponderance of evidence points to bias due to gender stereotypes. |
| Keywords: | recruitment, part-time, gender equality, hiring, online labor markets |
| JEL: | J16 J23 M51 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16845&r=inv |
| By: | Nittai K. Bergman; Nir Jaimovich; Itay Saporta-Eksten |
| Abstract: | Economies routinely experience a variety of sector-specific supply and demand shifts. Yet, the distributional welfare consequences of these shifts are not well understood. We address this gap by developing an analytical framework that jointly integrates supply-side and demand-side heterogeneity without imposing specific functional forms on consumption and production. This enables us to identify the key forces that shape the distributional welfare impact of sector-specific supply and demand shifts—in terms of consumer preferences and sectoral production functions. We estimate key parameters and quantify the heterogeneous welfare effects of sectoral shifts, revealing significant variation in their impact. |
| JEL: | E0 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:32271&r=inv |
| By: | Campolmi, Alessia (University of Verona); Fadinger, Harald (University of Mannheim and CEPR); Forlati, Chiara (University of Southampton); Stillger, Sabine (University of Mannheim); Wagner, Ulrich J. (University of Mannheim and ZEW) |
| Abstract: | This paper proposes a Leakage Border Adjustment Mechanism (LBAM) as a mechanism to tackle carbon emissions and avoid leakages. It requires no knowledge of embedded emissions and can be applied to all tradable sectors. It implements import tariffs (and, possibly, export subsidies) that sterilize the changes in imports (and exports) induced by a higher EU carbon price. |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:bda:wpsmep:wp2024/19&r=inv |
| By: | Essbaumer, Elisabeth |
| Abstract: | This paper analyzes peer effects at the University of St. Gallen (HSG) in Switzerland. The identification strategy relies on randomized student groups to investigate how graduates’ outcomes are affected by the social composition of their peer groups. The results indicate that a 10 percentage points higher share of peers with low socio-economic status (SES) leads to a 5.08% increase in graduates’ income one year after graduation. The effect is strongest on other low-SES students and functions through an adoption of job searching behavior, occupational choices and labor supply. I do not find evidence in this sample that the outcomes of low-SES students are negatively affected by high-SES peer exposure. |
| Keywords: | peer effects, social mobility, human capital, educational mobility |
| JEL: | D64 J62 I24 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:usg:econwp:2024:01&r=inv |
| By: | Julien Grandjean; Cameron M. Weber |
| Abstract: | Reading Boulding’s The Image: Knowledge in Life and Society (1956) in light of recent work in public choice homo politicus theory sheds light on today’s partisan politics. Complex depersonalized societies and limited time in the democratic process means that voters make non-logical decisions based on expressive images as simple as “good” and “bad” (Brennan 2008). We find that this work by Boulding can be related to Downs (1957). In his well-known An Economic Theory of Democracy, Downs develops the importance of political ideology in electoral processes. But what is ideology if not expressive images? In this paper, we relate these two works, written at the same time, about the same subject but without referencing each other. Both Boulding and Downs build models which place an emphasis on the role of mental ideas to overcome imperfect information in representative democracy. Additionally, both theorists find that this uncertainty is what can make democracy a fragile form of governance. |
| Keywords: | Anthony Downs, Kenneth Boulding, Political ideology, Images, Democracy. |
| JEL: | B2 B31 D72 D81 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:ulp:sbbeta:2024-14&r=inv |
| By: | Dan Ben-Moshe (BGU); David Genesove (The Hebrew University of Jerusalem) |
| Keywords: | Housing, regulation, stochastic frontier, real estate |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:bgu:wpaper:2302&r=inv |
| By: | Michael P. Leung |
| Abstract: | In settings with interference, it is common to utilize estimands defined by exposure mappings to summarize the impact of variation in treatment assignments local to the ego. This paper studies their causal interpretation under weak restrictions on interference. We demonstrate that the estimands can exhibit unpalatable sign reversals under conventional identification conditions. This motivates the formulation of sign preservation criteria for causal interpretability. To satisfy preferred criteria, it is necessary to impose restrictions on interference, either in potential outcomes or selection into treatment. We provide sufficient conditions and show that they are satisfied by a nonparametric model allowing for a complex form of interference in both the outcome and selection stages. |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2403.08183&r=inv |