منابع مشابه
Is There a Risk-Return Trade-Off across Occupations? Evidence from Spain
Is There a Risk-Return Trade-Off across Occupations? Evidence from Spain We use data from Spain to test for an effect of earnings risk and skewness on individual wages. We carry out separate estimation for men, women, public and private sector employees. In accordance with previous evidence for the US we show the existence of a riskreturn trade-off across occupations in the Spanish labour marke...
متن کاملIs There a Risk-return Trade-off in Educational Choices? Evidence from Spain
We use data from Spain to test for an e ect of earnings variance and skewness on individual wages. We carry out separate estimations for men and women. In accordance with the scant previous evidence mainly focused on the US, we report the existence of a risk-return trade-o across educational choices in the Spanish labor market. These results are in conformity with preferences of risk-averse ind...
متن کاملIs There a Trade-off between Unemployment and Inequality?
Over the last two decades virtually every western European nation has faced high and persistent unemployment. In frustration, many European nations have looked to the United States, with its lower unemployment rates, as a model of labor market flexibility. The U.S. model has become less attractive, however, as analysts have come to recognize the extent of rising wage inequality in the United St...
متن کاملTraining and Labour Market Flexibility: Is There a Trade-off?*
This paper explores the nexus between work-related training and labour market “flexibility” (which we proxy by contract type, part-time employment, and lack of union coverage), using the first five waves of the British Household Panel Survey (BHPS) conducted over the period 1991-1995. Our results show that workers on short-term employment contracts, who are working part-time, or who are not cov...
متن کاملReference-Dependent Preferences and the Risk-Return Trade-off*
This paper studies the cross-sectional risk-return trade-off in the stock market. A fundamental principle in finance is the positive relation between risk and expected return, whereas recent empirical evidence suggests the opposite. We apply referencedependent preferences to shed light on this violation. Reference-dependent preferences (e.g., prospect theory) typically posit that when facing pr...
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ژورنال
عنوان ژورنال: Journal of Financial Economics
سال: 2005
ISSN: 0304-405X
DOI: 10.1016/j.jfineco.2004.03.008