Now showing items 11-20 of 20
Wage Change and the Quit Behavior of Workers: Implications for Efficiency Wage Theory
(Southern Economic Association, 1994-07)
Arbitrage, Clientele Effects, and the Term Structure of Interest Rates
(Cambridge University Press, 1991-12)
This paper derives a new and intuitive estimation procedure for the term structure under potential tax arbitrage. No a priori assumptions regarding the equality of the prices and present values of bonds are made. The data ...
The Economic Performance of For-Profit and Not-for-Profit Hospitals
(Taylor & Francis (Routledge), 2002)
This research examines whether for-profit status or system membership is significantly related to the financial performance of hospitals. Panel data containing 573 observations of Florida hospitals for 1984 through 1987 ...
Multiple-Output Production and Pricing in Electric Utilities
(Southern Economic Association, 1986-07)
An Efficiency Wage Approach to Reconciling the Wage Curve and the Phillips Curve
This study develops an efficiency wage model that generates a wage curve at the regional level and a Phillips curve at the national level, under the assumption that workers' efficiency depends on both regional and aggregate ...
Labor Migration and Risk Aversion in Less Developed Countries
(University of Chicago Press, 1986)
In this paper we question the pioneering work of Todaro, which states that rural-to-urban labor migration in less developed countries (LDCs) is an individual response to a higher urban expected income. We demonstrate that ...
Do The Sick Retire Early? Chronic Illness, Asset Accumulation, and Early Retirement.
(Taylor & Francis (Routledge), 2007)
Our objective is to determine how chronic illness affects asset accumulation and retirement. Previous studies have found that poor health leads to early retirement, but those studies failed to look at the indirect impact ...
Super-Replication of the Best Pairs Trade in Hindsight
(Cogent Economics and Finance, 2019-01-11)
This paper derives a robust on-line equity trading algorithm that achieves the greatest possible percentage of the final wealth of the best pairs rebalancing rule in hindsight. A pairs rebalancing rule chooses some pair ...
Cover's Rebalancing Option With Discrete Hindsight Optimization
We study T. Cover’s rebalancing option (Ordentlich and Cover 1998) under discrete hindsight optimization in continuous time. The payoff in question is equal to the final wealth that would have accrued to a $1 deposit into ...
Nash Bargaining Over Margin Loans to Kelly Gamblers
I derive practical formulas for optimal arrangements between sophisticated stock market investors (namely, continuous-time Kelly gamblers or, more generally, CRRA investors) and the brokers who lend them cash for leveraged ...