This paper assesses the relationship between institutions, output, and productivity, when official output is corrected for the size of the shadow economy. Our results confirm the usual positive impact of institutional quality on official output and total factor productivity, and its negative...

This paper investigates the determinants of time and money gifts. We first develop a behavioural model which accounts for both types of donations, as well as for decisions about domestic and market hours of work. We then investigate the issue empirically, using survey data for Italy. Results...

This paper introduces new data on the term in office of central bank governors in 137 countries for 1970-2004. Our panel models show that the probability that a central bank governor is replaced in a particular year is positively related to the share of the term in office elapsed, political and...

This paper analyzes whether nation-state governments can increase their credibility by becoming members of international organizations. Credibility is an important asset because it determines the real interest rate and is expected to have an important impact on investment and growth. It is...

We model annual low pay transition probabilities taking account of three potentially endogenous selections: two sample drop-out mechanisms (panel attrition, non-employment) and ?initial conditions? (base-year low pay status). This model, and variants that ignore one or more of these selection...

In this paper we investigate whether rent control affects the functioning of the labour market. Particularly, we focus on the effect of rent control on the length of individual unemployment duration. Theoretically, the effect is ambiguous. Rent control reduces housing mobility and could very...

This paper investigates the effects of home-ownership on labour mobility and unemployment duration. We distinguish between finding employment locally or by being geographically mobile. We find that home ownership hampers the propensity to move for job reasons but improves the chances of finding...

This paper analyses the drop-out and graduation behaviour of young 1st generation immigrants enrolled in a qualifying education in the period 1984-1999. The descriptive analyses show that the low educational achievements among young immigrants compared to young ethnic Danes found in other...

This paper formulates a partial search model in which unemployed individuals simultaneously search for job and location of residence. Most importantly, we show that, ceteris paribus, a decrease in current place utility increases the transition rate into a new location of residence and the...