Using data from the Workplace Industrial Relations Surveys of 1980, 1984, and 1990, the authors investigate processes of job creation and job destruction in Britain. They find that rates of employment growth, job creation, and job destruction were higher at the end of the 1980s than at the beginning. Bothjob creation and job destruction were extremely concentrated: about 50% of each was account...

The present study evaluated a new 30-day Web-based contingency management program for smoking abstinence with 4 daily-smoking adolescents. Participants made 3 daily video recordings of themselves giving breath carbon monoxide (CO) samples at home that were sent electronically to study personnel. Using a reversal design, participants could earn money for continued abstinence during the treatment...

Warren Buffett famously stated two rules for investing: Rule #1. Never lose money, and Rule #2. Never forget Rule #1. Recent Peer Lending opportunities provide the individual investor to earn an interest rate significantly higher than that of a savings account. However, a default on the loan by the borrower means the investor will lose her entire principal. In this paper, we will use Machine Le...

The Stability and Growth Pact, originally designed to protect the integrity of monetary union based on price stability and fiscal discipline, has created a rift between states and institutions. Larger states like Germany and France have repeatedly violated the terms of the pact, while smaller states like the Netherlands and Austria have steadfastly defended it. This paper explores how size has ...

Guillermo Calvo Columbia University and NBER www.columbia.edu/~gc2286 July 23, 2012 Abstract. Fiat money contains the seeds of its own destruction. It has no intrinsic value and, yet, it can be exchanged for valuable consumption and production goods. As Hahn (1965) shows, this situation puts fiat money's market value or liquidity premium at the brink of collapse. In this paper I will argue th...

In this paper we examine the effect of innovation on job creation and job destruction in Spanish manufacturing. Our empirical analysis is based on firm-level longitudinal data from which we have information on employment and innovation activity. The estimation approach consists of a two-step procedure that takes into account the fact that firms endogenously choose positive, negative or zero gro...

This paper provides a non-steady state general equilibrium foundation for the transactions demand for money going back to Baumol (1952) and Tobin (1956). In our economy, money competes against real capital as a store of value. We prove existence of a monetary general equilibrium in which both real capital and at money are voluntarily held over time. The demand for money is generated by xed tran...

Discussion regarding sports and athletes is somewhat contradictory. On one hand, professional athlete is thought of as a profession that brings high financial returns for an individual. On the other hand, it seems that there is a severe lack of money for many Finnish elite athletes. As each individual is different, so is each sports career. Yet, there are certain similarities that apply for mos...

Abstract This paper is concerned with a model in econophysics, the subfield of statistical physics that applies concepts from traditional physics to economics. In our model, economical agents are represented by the vertices of a connected graph and are characterized by the number of coins they possess. Agents independently spend one coin at rate one for their basic need, earn one coin at a rate...