There is a literature that examines the statistical properties of earnings dynamics by testing heterogeneous growth against random walk. This test is of great consequence because rejection of heterogeneous growth has often been interpreted as rejection of a key role for heterogeneity in human capital investment over the life-cycle. This paper shows that optimal life-cycle investment behavior im...

Because of transactions costs and investor/manager information asymmetries, internally generated funds should be less costly than funds raised by issuing shares. This suggests that as firms use more internal funds relative to external equity, their costs of equity capital will fall and the rate the market uses to discount unexpected earnings of such firms will be lower. We hypothesize that (1) ...

This study is motivated by the idea that the racial gap in earnings is generated not only by individual differences but also by systematic variation in the occupational structure that attenuates or exacerbates the effects of race. Using data from the 1990 census and the Dictionary of Occupational Titles, a hierarchical linear modeling approach is employed that allows the simultaneous exploratio...

The increase in earnings inequality among men in particular in Canada has been well documented. This paper adds to our knowledge of inequality trends by addressing three issues. First, what has happened to earnings inequality among the employed population in the 1990s? We find that earnings inequality and polarization increased little in the population of all workers (men and women combined) be...

This study is motivated by the idea that the racial gap in earnings is generated not only by individual differences but also by systematic variation in the occupational structure that attenuates or exacerbates the effects of race. Using data from the 1990 census and the Dictionary of Occupational Titles, a hierarchical linear modeling approach is employed that allows the simultaneous exploratio...

Dr. Nowak is the director of the Institute and Outpatient Clinic for Occupational and Environmental Medicine at the Ludwig Maximilians University and a deputy for Occupational and Environmental Medicine at Technical University — both in Munich, Germany. Kassirer JP. Managed care and the morality of the marketplace. N Engl J Med 1995; 333:50-2. Bramley-Harker E, Barham L. Comparing physicians’ e...

Although trends in many physical characteristics and cognitive capabilities of modern humans are well-documented, less is known about how personality traits have evolved over time. We analyze data from a standardized personality test administered to 79% of Finnish men born between 1962 and 1976 (n = 419,523) and find steady increases in personality traits that predict higher income in later lif...

In this article, we extend an early agent-based spatial model of the prediction market by taking into account the heterogeneities of agents in their tolerance capacity (tolerance to neighbors with different political identities) and in their exploration capacity (exploration of the political identities of other agents). We then study the effects of these heterogeneities on the behavior of the p...

This paper examines the relation between corporate earnings and cash in US on annual basis period 2002 to 2022. We document that both holdings are non-stationary therefore we use Granger representation theorem methods of cointegration analysis make an attempt model these company variables. a negative sign coefficient estimate is statistically significant. The statistical significance confirms c...

Article history: Received 7 February 2014 Received in revised form 27 July 2014 Accepted 28 July 2014 Available online 5 August 2014 This paper discusses the issue of informal employment and its effect on the income distribution in China using datasets from the China Urban Labour Surveys of 2005 and 2010. Based on a new definition of informal employment, we estimated the proportion of informal ...