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Now showing items 31-42 of 42
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Keuschnigg, Christian; Nielsen, Søren Bo (København, 2007)[More information][Less information]
Abstract: In financing start-up firms, venture capitalists carefully select among alternative projects, design incentive compatible financial contracts and support portfolio companies with value enhancing managerial advice. This paper considers how venture capitalists can induce self-selection among entrepreneurial firms with different qualities by designing appropriate contracts and offering commercial support. We study the efficiency of the competitive market equilibrium with respect to the level and quality of entrepreneurship and the level of effort by entrepreneurs and venture capitalists. We also provide comparative statics results with respect to basic preference and technology parameters. Venture capital, entrepreneurship, self-selection, moral hazard. URI: http://hdl.handle.net/10398/7707 Files in this item: 1
artikel 07.pdf (407.6Kb) -
Malchow-Møller, Nikolaj; Rose Skaksen, Jan (København, 2008)[More information][Less information]
Abstract: In this paper, we show that the welfare implications of immigration which takes place in upturns, and may be partly reversed in downturns, are very different from the implications of immigration usually found in static models. Abstracting from any gains to capital owners and native workers due to complementarities, we find that (especially temporary) immigration may still benefit native workers in a European type of labour market where minimum wages may bind in downturns. However, in the presence of hiring costs, these effects may be reversed. Thus, promoting temporary immigration schemes may lead to adverse consequences if they also increase the costs of hiring foreign labour. URI: http://hdl.handle.net/10398/7700 Files in this item: 1
dp 2008-12.pdf (351.9Kb) -
Määttänen, Niku; Poutvaara, Panu (København, 2007)[More information][Less information]
Abstract: We study the welfare effects of earnings testing flat-rate old-age benefits in a quantitative overlapping generations model with idiosyncratic labor income risk. In our model economy, even a moderate earnings testing reduces individuals’ expected lifetime utility, whenever other taxes are taken into account. Moreover, it also lowers the realized lifetime utilities of those at the bottom of the lifetime utility distribution. Social security; Retirement; Means-testing URI: http://hdl.handle.net/10398/7705 Files in this item: 1
artikel 09.pdf (315.4Kb) -
Braun, Sebastian (København, 2008)[More information][Less information]
Abstract: The paper presents first empirical evidence on the effect of foreign ownership on the union wage premium. Using matched employer-employee data for Denmark, the positive effect of plant-level unionisation on wages is found to vanish in foreign-owned firm. While the estimation establishes a positive wage effect of foreign ownership of between two and four per cent for workers employed in non-unionised firms, the foreign ownership premium is close to zero for workers in highly unionised enterprises. This result might help to understand why trade unions frequently resist foreign take-overs even though the existence of a positive foreign ownership wage premium is widely acknowledged in the literature. URI: http://hdl.handle.net/10398/7715 Files in this item: 1
dp 2008-07.pdf (181.2Kb) -
Country-of-Origin or End-Use of Products.Sørensen, Anders (København, 2007)[More information][Less information]
Abstract: This paper investigates the empirical consequences for the relationship between skill upgrading and internationalization by decomposing import after country-of-origin and after the end-use of products. I find that the break-down after country-of-origin is of crucial importance, implying that international trade with low-wage countries leads to comprehensive skill upgrading, whereas international trade with high-wage countries leads to skill downgrading in Danish Manufacturing. The empirical literature on skill-upgrading and internationalization has mainly focused on international outsourcing and has to a large extent disregarded import penetration. By splitting import after country-of-origin, this reintroduces import penetration as an important explanation for skill upgrading. skill upgrading, import, country-of-origin, end-use of products URI: http://hdl.handle.net/10398/7686 Files in this item: 1
artikel 19.pdf (143.0Kb) -
Poutvaara, Panu; Siemers, Lars (København, 2007)[More information][Less information]
Abstract: We study the social interaction of non-smokers and smokers as a sequential game, incorporating insights from social psychology and experimental economics into an economic model. Social norms a®ect human behavior such that non-smokers do not ask smokers to stop smoking and stay with them, even though disutility from smoking exceeds utility from social interaction. Overall, smoking is unduly often accepted when accommodating smoking is the social norm. The introduction of smoking and non-smoking areas does not overcome this speci¯c ine±ciency. We conclude that smoking bans may represent a required (second-best) policy. smoking policy, health, social norms, guilt aversion, social interaction URI: http://hdl.handle.net/10398/7702 Files in this item: 1
artikel 14.pdf (283.5Kb) -
Konsekvenserne for løn og beskæftigelseMunch, Jakob Roland; Rose Skaksen, Jan; Malchow-Møller, Nikolaj (København, 2007)[More information][Less information]
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Omfang, udvikling og konsekvenserMalchow-Møller, Nikolaj; Rose Skaksen, Jan; Munch, Jakob Roland; Aastrup Jensen, Claus (København, 2007)[More information][Less information]
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Hougaard Jensen, Svend E.; Hagen Jørgensen, Ole (København, 2007)[More information][Less information]
Abstract: Under existing welfare arrangements, an increase in life expectancy may pose a serious threat to fiscal sustainability, and it may have dramatic effects on the intergenerational distribution of welfare. This paper finds that such effects may be countered through a policy which links the retirement age to changes in life expectancy. Fiscal Policy, Longevity Adjustment, Ageing, Pensions,Welfare Reform. URI: http://hdl.handle.net/10398/7694 Files in this item: 1
artikel 03.pdf (310.6Kb) -
Kolm, Ann-Sofie; Nielsen, Søren Bo (København, 2007)[More information][Less information]
Abstract: To examine the effects on labor market performance of government tax and enforcement policies, this paper develops an equilibrium model featuring tax evasion, matching frictions, and worker-firm wage bargains. In the wage bargains, workers and firms can agree on the amount of remuneration that should not be reported to the tax authorities. We find that increased taxation actually reduces unemployment, whereas more zealous enforcement has the opposite effect. URI: http://hdl.handle.net/10398/7699 Files in this item: 1
artikel 10.pdf (464.6Kb) -
Could Prosperity Backfire?Priks, Mikael; Poutvaara, Panu (København, 2007)[More information][Less information]
Abstract: Empirical evidence reveals that unemployment tends to increase property crime but that it has no effect on violent crime. To explain these facts, we examine a model of criminal gangs and suggest that there is a substitution effect between property crime and violent crime at work. In the model, non-monetary valuation of gang membership is private knowledge. Thus the leaders face a trade-off between less crime per member in large gangs and more crime per member in small gangs. Unemployment increases the relative attractiveness of large and less violent gangs engaging more in property crime. Violence, Crime, Gangs, Unemployment, Identity URI: http://hdl.handle.net/10398/7692 Files in this item: 1
artikel 13.pdf (172.5Kb) -
Munch, Jakob Roland; Rose Skaksen, Jan; Malchow-Møller, Nikolaj (København, 2007)[More information][Less information]
Abstract: While immigration is unlikely to affect the employment of native workers in the long run, employment of immigrants may be associated with significant short-run adjustment costs for native workers as they have to fi nd alternative employment or are temporarily pushed into unemployment. In this paper, we therefore study the impact of immigrants at the workplace on the employment of native co-workers using a rich matched worker-fi rm data set for Denmark. Estimation of a single risk duration model for job spells of native workers shows that job separation rates increase if more immigrants are hired, especially when it comes to immigrants from Eastern Europe and less developed countries (LDCs). Furthermore, in a competing risks duration model, we fi nd that while immigrants from LDCs increase the unemployment risk for native workers, immigrants from Eastern Europe instead increase the job change probability of native workers. Thus, adjustment costs for native workers are more likely in the case where LDC immigrants are hired. Finally, we fi nd that the results only apply for low-skilled native workers. URI: http://hdl.handle.net/10398/7510 Files in this item: 1
wp17-2007.pdf (729.2Kb)
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Now showing items 31-42 of 42