Labor market conditions, i.e. labor market tightness and prevailing wages, determine the cost of hiring new workers and thus can have a profound impact on employment growth. In this paper, I estimate firm level elasticity of labor demand with respect to changes in labor market conditions, allowing for heterogeneous response both across firms and across regions. I consider changes along two marg...

The margin system is the clearinghouse’s first line of defense against default risk. From the perspectives of a clearinghouse, the utmost concern is to have a prudential system to control the default exposure. Once the level of prudentiality is set the next concern of the clearinghouse is overcharge. It is because higher is the overcharge, greater is the investor’s opportunity cost of investing...

We focus on efficiency of assets and portfolios available to investors on financial markets. We employ diversification consistent DEA-risk models with CVaR deviations as the inputs and expected rate of return as the output. Moreover, we allow short selling and take into account margin requirements. Our model is then employed in an empirical study where selected assets from US stock market are i...

As economic conditions result in increased exposure to market volatility and margin erosion, banks are looking to exchange fixed IT cost for variable IT cost structures. This has driven a change of internal mindset towards an increased acceptance of outsourcing to achieve IT cost optimisation. This paper examines findings from two industry case studies in outsourcing on cost, risk and technolog...

This paper studies the effect of government stimulus spending on a novel aspect of the labor market: the differential impact of spending on the total wage bill versus employment. We analyze the 2009 Recovery Act via instrumental variables using a new instrument, the spending done by federal agencies that were not instructed to target funds towards harder hit regions. We find a moderate positive...

Airlines are the business of transporting passengers in which the safety and risk have always been important. We use the fuzzy CAPM and fuzzy ICAPM models to investigate the underwriting systematic risk and profit margin of aviation transportation, in which the parameters of membership function are the asymmetric triangular fuzzy number. We calculate the underwriting systematic risk and profit ...

The margin system is a clearinghouse’s first line of defense against the default risk. From the perspectives of a clearinghouse, the utmost concern is to have a prudential system to control the default exposure. Once the level of prudentiality is set, the next concern is the opportunity cost to the investors. It is because high opportunity cost discourages people from hedging futures and thus d...

In order for organizations to survive on increasingly competitive and global markets, adequate management of intellectual capital is essential. Although increasingly more information is found in electronic formats, turning this information into valuable knowledge is still the responsibility of people by applying it in professional situations to generate value. In this paper, we describe an appr...