Time Varying Risk Premium And Unemployment Risk Across Age Groups PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Time Varying Risk Premium And Unemployment Risk Across Age Groups PDF full book. Access full book title Time Varying Risk Premium And Unemployment Risk Across Age Groups.
Author | : Indrajit Mitra |
Publisher | : |
Total Pages | : 73 |
Release | : 2019 |
Genre | : |
ISBN | : |
Download Time-varying Risk Premium and Unemployment Risk Across Age Groups Book in PDF, ePub and Kindle
We show that time-varying risk premium in financial markets can explain a key yet puzzling feature of labor markets: the large differences in unemployment risk across worker age-groups over the business cycle. Our search model features a time-varying risk premium and learning about unobserved heterogeneity in worker productivity. Their interaction generates large real effects through firms' labor policies. Our model predicts higher unemployment risk of younger workers relative to prime-age workers when risk premium is high, and the employment ratio of prime-age to young workers to be more cyclical in high beta industries. We find empirical support for these predictions.
Author | : Maarten Meeuwis |
Publisher | : |
Total Pages | : 0 |
Release | : 2023 |
Genre | : |
ISBN | : |
Download Time-Varying Risk Premia, Labor Market Dynamics, and Income Risk Book in PDF, ePub and Kindle
Author | : William N. Goetzmann |
Publisher | : Oxford University Press |
Total Pages | : 568 |
Release | : 2006-11-16 |
Genre | : Business & Economics |
ISBN | : 0199881979 |
Download The Equity Risk Premium Book in PDF, ePub and Kindle
What is the return to investing in the stock market? Can we predict future stock market returns? How have equities performed over the last two centuries? The authors in this volume are among the leading researchers in the study of these questions. This book draws upon their research on the stock market over the past two dozen years. It contains their major research articles on the equity risk premium and new contributions on measuring, forecasting, and timing stock market returns, together with new interpretive essays that explore critical issues and new research on the topic of stock market investing. This book is aimed at all readers interested in understanding the empirical basis for the equity risk premium. Through the analysis and interpretation of two scholars whose research contributions have been key factors in the modern debate over stock market perfomance, this volume engages the reader in many of the key issues of importance to investors. How large is the premium? Is history a reliable guide to predict future equity returns? Does the equity and cash flows of the market? Are global equity markets different from those in the United States? Do emerging markets offer higher or lower equity risk premia? The authors use the historical performance of the world's stock markets to address these issues.
Author | : John H. Cochrane |
Publisher | : Now Publishers Inc |
Total Pages | : 117 |
Release | : 2005 |
Genre | : Business & Economics |
ISBN | : 1933019158 |
Download Financial Markets and the Real Economy Book in PDF, ePub and Kindle
Financial Markets and the Real Economy reviews the current academic literature on the macroeconomics of finance.
Author | : Truman Packard |
Publisher | : Human Development Perspectives |
Total Pages | : 0 |
Release | : 2019 |
Genre | : Business & Economics |
ISBN | : 9781464814273 |
Download Protecting All Book in PDF, ePub and Kindle
"This white paper focusses on the policy interventions made to help people manage risk, uncertainty and the losses from events whose impacts are channeled primarily through the labor market. The objectives of the white paper are: to scrutinize the relevance and effects of prevailing risk-sharing policies in low- and middle-income countries; take account of how global drivers of disruption shape and diversify how people work; in light of this diversity, propose alternative risk-sharing policies, or ways to augment and improve current policies to be more relevant and responsive to peoples' needs; and map a reasonable transition path from the current to an alternative policy approach that substantially extends protection to a greater portion of working people and their families. This white paper is a contribution to the broader, global discussion of the changing nature of work and how policy can shape its implications for the wellbeing of people. We use the term risk-sharing policies broadly in reference to the set of institutions, regulations and interventions that societies put in place to help households manage shocks to their livelihoods. These policies include formal rules and structures that regulate market interactions (worker protections and other labor market institutions) that help people pool risks (social assistance and social insurance), to save and insure affordably and effectively (mandatory and incentivized individual savings and other financial instruments) and to recover from losses in the wake of livelihood shocks ('active' reemployment measures). Effective risk-sharing policies are foundational to building equity, resilience and opportunity, the strategic objectives of the World Bank's Social Protection and Jobs Global Practice. Given failures of factor markets and the market for risk in particular the rationale for policy intervention to augment the options that people have to manage shocks to their livelihoods is well-understood and accepted. By helping to prevent vulnerable people from falling into poverty --and people in the poorest households from falling deeper into poverty-- effective risk-sharing interventions dramatically reduce poverty. Households and communities with access to effective risk-sharing instruments can better maintain and continue to invest in these vital assets, first and foremost, their human capital, and in doing so can reduce the likelihood that poverty and vulnerability will be transmitted from one generation to the next. Risk-sharing policies foster enterprise and development by ensuring that people can take appropriate risks required to grasp opportunities and secure their stake in a growing economy."--
Author | : Fischer S. Black |
Publisher | : MIT Press |
Total Pages | : 361 |
Release | : 2010-05-21 |
Genre | : Business & Economics |
ISBN | : 0262514095 |
Download Exploring General Equilibrium Book in PDF, ePub and Kindle
An incisive, unconventional assessment of general equilibrium theory; with a previously unpublished paper. Fischer Black is known for his brilliance as well as his sometimes controversial opinions. Highly respected for his scholarly writings in finance, he now moves into different territory with this incisive, unconventional assessment of general equilibrium theory and what that theory reveals about business cycles, growth, and labor economics. The general equilibrium approach, Black asserts, can be used to explain most of the economy's behavior. It can explain business cycles and growth without using sticky prices, irrationality, economies of scale, or imperfect competition. It can explain the volatility of consumption, output, sales, investment, and inventories with axiomatic utility and constant-returns-to-scale production. It can explain temporary layoffs, job changes with and without intervening unemployment, and the behavior of vacancies. It can explain lower wages in part-time jobs, wages that increase rapidly with time on the job, and the forces that cause migration from poor to rich countries. Although the general equilibrium approach can't be tested in conventional ways, it can be used to generate examples that explain stylized facts—generalized observations from the real world—that have preoccupied macroeconomists for the last decade. Black contrasts his interpretation of these facts with conventional interpretations. Finally, he reviews a substantial body of literature on these topics.
Author | : Sherwin Rosen |
Publisher | : University of Chicago Press |
Total Pages | : 408 |
Release | : 2007-12-01 |
Genre | : Political Science |
ISBN | : 0226726304 |
Download Studies in Labor Markets Book in PDF, ePub and Kindle
The papers in this volume present an excellent sampling of the best of current research in labor economics, combining the most sophisticated theory and econometric methods with high-quality data on a variety of problems. Originally presented at a Universities-National Bureau Committee for Economic Research conference on labor markets in 1978, and not published elsewhere, the thirteen papers treat four interrelated themes: labor mobility, job turnover, and life-cycle dynamics; the analysis of unemployment compensation and employment policy; labor market discrimination; and labor market information and investment. The Introduction by Sherwin Rosen provides a thoughtful guide to the contents of the papers and offers suggestions for continuing research.
Author | : OECD |
Publisher | : OECD Publishing |
Total Pages | : 150 |
Release | : 2006-02-06 |
Genre | : |
ISBN | : 9264035885 |
Download Ageing and Employment Policies Live Longer, Work Longer Book in PDF, ePub and Kindle
In this concluding volume in OECD's Ageing and Employment Series, the experience of OECD countries is summarised and the main lessons are presented.
Author | : Jiang Luo |
Publisher | : |
Total Pages | : 358 |
Release | : 2001 |
Genre | : Capital budget |
ISBN | : |
Download Three Essays in Finance Book in PDF, ePub and Kindle
Author | : Laurent Ferrara |
Publisher | : Springer |
Total Pages | : 300 |
Release | : 2018-06-13 |
Genre | : Business & Economics |
ISBN | : 3319790757 |
Download International Macroeconomics in the Wake of the Global Financial Crisis Book in PDF, ePub and Kindle
This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.