A new semiparametric proportional hazard rate model is proposed which extends standard models to include a dynamic specification. Two main problems are resolved in the course of this paper. First, the partial likelihood approach to estimate the components of a standard proportional hazard model...

In this paper we modify the method of Blanchard and Quah (1989) in order to estimate a structural VAR model appropriate for a small open economy. In this way we identify shocks to output and prices in the members of the two monetary unions that make up the African CFA Franc Zone. The costs of...

This paper considers the costs and benefits of Sweden joining the European Economic and Monetary Union (EMU).  We pay particular attention to the costs of abandoning the krona in terms of a loss of monetary policy independence.  For this purpose, we apply a cointegrated VAR framework to...

We analyze the international transmission of interest rates under pegged and non-pegged exchange rate regimes, demonstrating that transmission depends upon the informational properties of a base country`s interest rate change. We differentiate between interest rate movements which are...

In this paper, the monetary policy independence of European nations in the years before European Monetary Union (EMU) is investigated using cointegration techniques.  Daily data is used to assess pairwise relationships between individual EMU nations and 'lead' nation Germany, to assess the...

We investigate the causes of civil war, using a new data set of wars during 1960-99. We test a greed theory focusing on the ability to finance rebellion, against a grievance theory focusing on ethnic and religious divisions, political repression and inequality. We find that greed considerably...

Abstract: We consider empirical measurement of exact equivalent/compensating variation resulting from price-change of a discrete good, using individual-level data. We show that for binary and multinomial choice, the marginal distributions of EV/CV are nonparametrically point-identified solely...

For some observers, the dramatic growth of the services sector in India reflects rapid strides made by educated professionals.  Some others see it as the expansion of an employer of last resort.  Given this heterogeneity, the object of the paper is to analyze the nature of employment being...

In this paper we use a dynamic structural life-cycle model to analyze the employment, fiscal and welfare effects induced by unemployment insurance.  The model features a detailed specification of the tax and transfer system, including unemployment insurance benefits which depend on an...

The UK`s Equal Opportunities Commission has recently drawn attention to the `hidden brain drain` when women working part-time are employed in occupations below those for which they are qualified. These inferences were based on self-reporting. We give an objective and quantitative analysis of the...