... underrepresented in several SET disciplines including physics, engineering, and computer science (Congressional Commission on the ... have already lost interest in SET (American Association of University Women, 1998, 2000), and during the middle and high school years both ...
Story - wulan - 04/02/2010 - 07:01 - 0 comments - 0 attachments
This paper examines the agency problem caused by credit risk. In particular, it looks at the problem where the debt holders are taken advantage of by the shareholders in the situation where the firm should have been default but the shareholders still have the control of the firm.
The cyclicality of real wages allows us to differentiate between competing theories of the labor market. However, there has been empirical evidence put forth both for and against real wages exhibiting procyclical behavior. In this paper we provide new evidence on the cyclicality of real wages using longitudinal microdata in conjunction with a new econometric approach, that of a dynamic factor model. The dynamic factor model searches directly for the largest common cycle in wage data, alleviating the problem of defining the cycle as any particular macroeconomic variable. The use of individual level micro data allows us to determine whether the cyclicality of wages is specific to a certain subset of individuals, which alleviates the problem of composition bias.
Legislators pursue legal reform with the aim of achieving or furthering some identified public policy objective. Traditionally, legal scholars tried to assure that formal statutory provisions and rules of court produced the desired outcomes, and that deviations from such outcomes were mere errors. On the other hand, law and society scholars have asserted that this view ignores some fundamental explanations for the wide deviation between the law on the books and the law in action.
These scholars point to numerous studies that indicate substantial gaps, and at times a total disparity, between the formal substantive rules on the books and the actual implementation of the rules on the ground. In addition to the disparity between the formal laws and the laws in action, these scholars note the important, and at times, dramatic variations in the implementation of the law from one locale to another, despite the similarity in formal rules.
