From 2007, New Zealand firms must report the cost of granting employee stock options (ESOs). Market-based option pricing models assume that option holders are unconstrained in their portfolio choices and thus are indifferent ...

In this paper, we investigate efficiency differences between income and in-kind transfers as distribution mechanisms of foreign aid to weakest-link international public goods in a laboratory environment. We find that if ...

This study provides a comprehensive examination of the work and family structure incentives of public assistance, focusing on the consequences of state-determined programs. Such an approach allows state policy-makers to ...

Technology has impacted extensively on the operations of financial markets which are inhabited by a rich array of fixed-income securities, each bearing a particular rate of interest. The relationship between the yields on ...

In most countries, academic pay is independent of discipline, thus ignoring differences in labor market opportunities. Using some unique data from a comprehensive research assessment exercise undertaken in one such country ...

While several cross-sectional studies (La Porta et. al. 2002, Norton 2002) examine institutional and cultural determinants of economic freedom, changes in economic freedom remain unexamined. I find changes in voter preferences ...

A pastoral boom led to higher farm and manufacturing productivity and to New Zealand attaining the world’s highest HDI in 1913. Staple exports invigorated the land market, diffused rural land ownership, and fostered ...