Browsing Department of Economics (ECON) by Title
Now showing items 1-20 of 218
Next Page-
Evidence from Survival Rates in a Natural ExperimentAndersen, Steffen; Meisner Nielsen, Kasper (Frederiksberg, 2012)[More information][Less information]
Abstract: We use a natural experiment in Denmark to test the hypothesis that aspiring entrepreneurs face financial constraints because of low entrepreneurial quality. We identify 304 constrained entrepreneurs who start a business after receiving windfall wealth and examine the performance of these marginal entrepreneurs. We find that constrained entrepreneurs have significantly lower survival rates and lower profits when compared with a matched sample of unconstrained entrepreneurs. These results are consistent with the hypothesis that the marginal entrepreneur is of low quality. URI: http://hdl.handle.net/10398/8499 Files in this item: 1
Andersen_MeisnerNielsen.pdf (402.7Kb) -
Foley, Kelly; Gallipoli, Giovanni; Green, David (Bristol, 2010)[More information][Less information]
Abstract: We use a large, rich Canadian micro-level dataset to examine the channels through which family socio-economic status and unobservable characteristics a ect children's decisions to drop out of high school. First, we document the strength of observable socio-economic factors: our data suggest that teenage boys with two parents who are themselves high school dropouts have a 16% chance of dropping out, compared to a dropout rate of less than 1% for boys whose parents both have a university degree. We examine the channels through which this socio-economic gradient arises using an extended version of the factor model set out in Carneiro, Hansen, and Heckman (2003). Speci cally, we consider the impact of cognitive and non-cognitive ability and the value that parents place on education. Our results support three main conclusions. First, cognitive ability at age 15 has a substantial impact on dropping out. Second, parental valuation of education has an impact of approximately the same size as cognitive ability e ects for medium and low ability teenagers. A low ability teenager has a probability of dropping out of approximately .03 if his parents place a high value on education but .36 if their education valuation is low. Third, parental education has no direct e ect on dropping out once we control for ability and parental valuation of education. Our results point to the importance of whatever determines ability at age 15 (including, potentially, early childhood interventions) and of parental valuation of education during the teenage years. We also make a small methodological contribution by extending the standard factor based estimator to allow a non-linear relationship between the factors and a covariate of interest. We show that allowing for non-linearities has a substantial impact on estimated e ects. URI: http://hdl.handle.net/10398/8582 Files in this item: 1
Foley_2009.pdf (369.2Kb) -
Keiding, Hans; Hansen, Bodil O. (København, 2007)[More information][Less information]
Abstract: In the paper, we use the theory of mechanism design to exhibit the cost of efficient provision of healthcare, defined as the uniquely defined sum of individual side payments which would eliminate moral hazard. It is argued that this cost may be used to assess the costs arising from use of the treatment in cases where it is not appropriate from a strictly medical point of view. An example is given to indicate how this assessment might enter into practical cost-effectiveness analysis. URI: http://hdl.handle.net/10398/7626 Files in this item: 1
wp.05.07.pdf (264.4Kb) -
The Trial-and-Error Approach to OutsourcingBennedsen, Morten; Schultz, Christian (København, 2003)[More information][Less information]
-
Nielsen, Steen; Risager, Ole (København, 2001)[More information][Less information]
-
Junge, Martin; Højbjerg Jacobsen, Rasmus (Frederiksberg, 2011)[More information][Less information]
Abstract: Denne rapport afrapporterer CEBR-projektet ”Afviste ansøgere på videregående uddannelser”, som er udført af Rasmus Højbjerg Jacobsen og Martin Junge for DEA. Det overordnede formål med projektet er at beskrive og følge udvalgte årgange af ansøgere, som har søgt ind på videregående uddannelser gennem den koordinerede tilmelding (KOT-årgange). Det er så vidt vides første gang dette udføres i en dansk kontekst. I lyset af debatten om, hvad Danmark skal leve af i fremtiden, hvor uddannelse har været fremhævet som en meget vigtig kilde (se f.eks. De Økonomiske Råd, 2010), kan afviste ansøgere på den ene side være et potentielt spild, hvis de ikke opnår den uddannelse, som de gerne ville have. På den anden side kan der være et ønske om prioritere uddannelserne, så dermed kan det være rationelt, at ikke alle får deres drømmeuddannelse. URI: http://hdl.handle.net/10398/8579 Files in this item: 1
Rasmus_H_Jacobsen_2011_a.pdf (362.1Kb) -
Møllgaard, Peter (Frederiksberg, 2011)[More information][Less information]
Abstract: Forbrugerrådet og Konkurrence- og Forbrugerstyrelsen har bedt CEBR om at udarbejde studie af den eksisterende1 litteratur om sammenhængen mellem forbruger- og konkurrencepolitik og produktivitet, vækst og velfærd. Målet har været at lave en empirisk og policy-orienteret oversigt, der har leverandørskift og gennemsigtighed som de overordnede indgangsvinkler, selvom også de traditionelle typer forbrugerbeskyttelse (fx fortrydelsesret og klagesystem) som påvirker forbrugerens adfærd i købsøjeblikket behandles. Litteraturgennemgangen kortlægger de kanaler, hvormed forbrugerne påvirker økonomiens performance; identificerer de mest oplagte virkemidler for konkurrence- og forbrugerpolitik; og giver eksempler på forbrugernes rolle i forhold til økonomisk performance. Aktive og kompetente forbrugere er en forudsætning for at få konkurrencen på et marked til at fungere, så varerne bliver billigere og/eller bedre. Hvis forbrugerne ikke reagerer på pris eller kvalitet, er der ikke megen grund til, at leverandørerne skal lægge sig i selen for at levere varer med et rimeligt forhold mellem kvalitet og pris. URI: http://hdl.handle.net/10398/8577 Files in this item: 1
Moellgaard_2011.pdf (799.3Kb) -
Risager, Ole (København, 2003)[More information][Less information]
Abstract: 1. Brief Introduction The two companies D/S Svendborg and D/S 1912 have for almost a century been the parent companies of the A.P. Møller Group. These companies were founded by Mr. Arnold Peter Møller and his father Captain Peter Mærsk Møller. They were in the beginning entirely into shipping. In 1912, the fleet consisted of 6 vessels. Much has happened since the company was founded: The A.P. Møller Group has by any standards become the biggest company in Denmark. Moreover, "Svendborg" and "1912" have recently been merged into one company "A.P. Møller – Mærsk A/S". However, as we shall be concerned with the performance of the company also in the past we will repeatedly make reference to the historic parent companies. As "Svendborg" and "1912" grew bigger they expanded into a number of other businesses. It is common to split the main businesses of the APM Group into three broad categories: URI: http://hdl.handle.net/10398/7627 Files in this item: 1
wpec102003.pdf (101.2Kb) -
Schultz, Christian; Bennedsen, Morten (København, 2007)[More information][Less information]
Abstract: We analyze the economic consequences of strategic delegation of the right to decide between public or private provision of governmental service and/or the authority to negotiate and renegotiate with the chosen service provider. Our model encompass both bureaucratic delegation from a government to a privatization agency and electoral delegation from voters to a government. We identify two powerfull effects of delegation when contracts are incomplete: The incentive effect increases the incentive part of service providers’ remuneration and we show that strategic delegation may substitute formal incentive contracts. The bargaining effect improves the bargaining position vis a vis a private firm with market power and leads to a lower price for the service. Outsourcing, Strategic Delegation, Incentives, Incomplete Contracting, Market Power, Representative Democracy. URI: http://hdl.handle.net/10398/7602 Files in this item: 1
wp7-2007.pdf (625.9Kb) -
Møllgaard, Peter (København, 2006)[More information][Less information]
Abstract: The pre-insulated pipe cartel was established 1990 in Denmark, was extended to Italy and Germany during 1991 and re-organised in 1994 to cover the entire common market. Cartel members engaged in market sharing, price setting, bid rigging, coordinated predation and delaying of innovation. The European Commission fined the cartel in 1998. In 2005 four Danish municipalities successfully sued three cartel members and received large damage payments. The paper reviews the EU case, explains the economics of cartels, describes different approaches to determining damages and shows how this was done in practice. Keywords: cartel damages, pre-insulated pipes JEL: L13, L41, L61/L95 URI: http://hdl.handle.net/10398/7553 Files in this item: 1
wp10-2006.pdf (84.87Kb) -
Bennedsen, Morten; Wolfenzon, Daniel (København, 1999)[More information][Less information]
-
Andersen, Steffen; Harrison, Glenn W.; Lau, Morten Igel; Rutström, Elisabeth E. (København, 2007)[More information][Less information]
Abstract: We make the case that psychologists should make wider use of structural econometric methods. These methods involve the development of maximum likelihood estimates of models, where the likelihood function is tailored to the structural model. In recent years these models have been developed for a wide range of behavioral models of choice under uncertainty. We explain the components of this methodology, and illustrate with applications to major models from psychology. The goal is to build, and traverse, a constructive bridge between the modeling insights of psychology and the statistical tools of economists. URI: http://hdl.handle.net/10398/7571 Files in this item: 1
artikel 16.pdf (1.442Mb) -
Andersen, Steffen; Harrison, Glenn W.; Lau, Morten Igel; Rutström, Elisabet E. (, 2009)[More information][Less information]
Abstract: We make the case that psychologists should make wider use of econometric methods for the estimation of structural models. These methods involve the development of maximum likelihood estimates of models, where the likelihood function is tailored to the structural model. In recent years these models have been developed for a wide range of behavioral models of choice under uncertainty. We explain the components of this methodology, and illustrate with applications to major models from psychology. The goal is to build, and traverse, a constructive bridge between the modeling insights of psychology and the statistical tools of economists. URI: http://hdl.handle.net/10398/7800 Files in this item: 1
wp2009-4.pdf (1.471Mb) -
Højbjerg Jacobsen, Rasmus (Frederiksberg, 2010)[More information][Less information]
Abstract: I perioden januar til september 2010 har CEBR udført en analyseopgave for Mødrehjælpen. Formålet med denne analyse har været at belyse, i hvilket omfang Mødrehælpens Projekt I Gang økonomisk bidrager til, at de mødre, der deltager i projektet, klarer sig bedre. Da der ikke har været individdata til rådighed om projektets deltagere, har den nærværende analyse både haft som formål at identificere en gruppe af mødre, der er sammenlignelige med deltagerne samt belyse, hvordan denne og andre grupper af mødre klarer sig i samfundet. Den første rapport fra projektet udkom i august. Denne udgave indeholder yderligere oplysninger anvendelsen af sundhedssystemet samt brug af receptpligtig medicin. Undervejs har en række personer givet værdifulde kommentarer til projektet, og forfatteren vil gerne takke alle herfor. Særlig tak skal rettes til Martin Junge for sin store hjælpsomhed i forbindelse med dette projekt. URI: http://hdl.handle.net/10398/8576 Files in this item: 1
Rasmus_H_Jacobsen_2010.pdf (472.9Kb) -
AnalyserapportHøjbjerg Jacobsen, Rasmus (Frederiksberg, 2011)[More information][Less information]
Abstract: I perioden marts 2011 til august 2011 har CEBR udført en analyseopgave for Specialfunktionen for Ligestilling. Formålet med projektet har været at levere en mængde beskrivende statistik over, hvordan unge mødre klarer sig i Danmark fordelt på de enkelte jobcenterområder. Undervejs har en række personer givet værdifulde kommentarer til projektet, og forfatteren vil gerne takke alle herfor. Der skal også lyde en stor tak til Christine Marie Skovgaard for værdifuld assistance på projektet. URI: http://hdl.handle.net/10398/8581 Files in this item: 1
Rasmus_H_Jacobsen_2011_b.pdf (1.174Mb) -
Bennedsen, Morten; Nielsen, Kasper (København, 2002)[More information][Less information]
-
Bennedsen, Morten; Kongsted, Hans Christian; Meisner Nielsen, Kasper (København, 2004)[More information][Less information]
Abstract: Previous work on board size effects in closely held corporations has established a negative correlation between board size and firm performance. We argue that this work has been incomplete in analysing the causal relationship due to lack of ownership information and weak identification strategies in simultanous equation analysis. In the present paper we reexamine the causal relationship between board size and firm performance using a dataset of more than 5,000 small and medium sized closely held corporations with complete ownership information and detailed accounting data. We test the potential endogeneity of board size by using a new instrument given by the number of children of the founders of the firms. Our analysis shows that board size can be taken as exogenous in the performance equation. Furthermore, based on a flexible model specification we find that there is no empirical evidence of adverse board size effects in the typical range of three to six board members. Finally, we find a significantly negative board size effect in the minority of closely held firms which have comparatively large boards of seven or more members. URI: http://hdl.handle.net/10398/7566 Files in this item: 1
wpec092004.pdf (252.8Kb) -
motives and obstaclesMøllgaard, H. Peter; Schröder, Philipp (København, 1998)[More information][Less information]
-
Fuest, Clemens; Huber, Bernd; Nielsen, Søren Bo (København, 2004)[More information][Less information]
Abstract: Recent years have seen large swings in house prices in many countries. Motivated by housing price variations, proposals for taxing capital gains on housing have repeatedly been put forth. The idea seems to be that such taxes would curb the redistribution occurring between those owning houses and those trying to get into the market for owner-occupied housing. Our paper shows that at least in simple settings, a tax on real capital gains on housing will only lead to even bigger price swings and will not be able to redistribute between people appearing on either side of the housing market. Keywords: capital gains tax, housing market, price fluctuations JEL-Classification: H23, H24, R 31. Addresses: URI: http://hdl.handle.net/10398/7640 Files in this item: 1
wpec162004.pdf (178.3Kb) -
Huizinga, Harry; Nielsen, Søren Bo (København, 2005)[More information][Less information]
Abstract: Europe has seen several proposals for tax coordination only in the area of capital income taxation, leaving countries free to adjust their labor taxes. The expectation is that higher capital income tax revenues would cause countries to reduce their labor taxes. This paper shows that such changes in the mix of capital and labor taxes brought on by capital income tax coordination can potentially be welfare reducing. This reflects that in a non-cooperative equilibrium capital income taxes may be more distorting from an international perspective than are labor income taxes. Simulations with a simple model calibrated to EU public finance data suggest that countries indeed lower their labor taxes in response to higher coordinated capital income taxes. The overall welfare effects of capital income tax coordination, however, are estimated to remain positive. JEL Classification: F20, H87 URI: http://hdl.handle.net/10398/7582 Files in this item: 1
wp24-2005.pdf (343.7Kb)
Now showing items 1-20 of 218
Next Page