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We investigate why we observe non-negative duration dependence among young unemployed men in urban Ethiopia. Assuming … that genuine duration dependence is negative, there are five explanations for a non-decreasing hazard: the presence of … is the only convincing one. We also establish that genuine duration dependence is indeed negative in the long run. …
Persistent link: https://www.econbiz.de/10005556022
incidence and duration and find that most variables have the same effect on both. Unemployment is concentrated among relatively … well-educated first time job seekers who come from the middle classes. Mean duration of unemployment is close to four years … Addis are less likely to become unemployed, and ethnicity has no effect. We find that both the incidence and duration of …
Persistent link: https://www.econbiz.de/10005556068
In this paper we present a rather general phenomenological theory of tick-by-tick dynamics in financial markets. Many well-known aspects, such as the Lévy scaling form, follow as particular cases of the theory. The theory fully takes into account the non-Markovian and non-local character of...
Persistent link: https://www.econbiz.de/10005561606
In financial markets, not only prices and returns can be considered as random variables, but also the waiting time between two transactions varies randomly. In the following, we analyse the statistical properties of General Electric stock prices, traded at NYSE, in October 1999. These properties...
Persistent link: https://www.econbiz.de/10005561736
This paper is a short review on the application of continuos-time random walks to Econophysics in the last five years.
Persistent link: https://www.econbiz.de/10005134725
We complement the theory of tick-by-tick dynamics of financial markets based on a continuous-time random walk (CTRW) model recently proposed by Scalas et al [4], and we point out its consistency with the behaviour observed in the waiting-time distribution for BUND future prices traded at LIFFE,...
Persistent link: https://www.econbiz.de/10005134750
Regarding the trade-off between the depth and the duration of recessions, there exists a mounting empirical evidence of … GDP in depth and a relative difference of 3 years duration can be attributed to this parameter. Overlooked for decades …
Persistent link: https://www.econbiz.de/10005076708
The article presents an analysis of welfare effects in Slovenia, an analysis of macroeconomic effects of the Slovenian pension reform and an analysis of effects of the pension fund deficit on sustainability of Slovenian public finances with a dynamic OLG general equilibrium model. It has been...
Persistent link: https://www.econbiz.de/10005125636
This work considers effects of energy market liberalisation in the countries of the former Soviet Union (FSU). Our analysis is based on a computable general equilibrium (CGE) model called the Global Trade Analysis Project (GTAP). This specialised model makes it possible to evaluate effects in a...
Persistent link: https://www.econbiz.de/10005412653
In this paper, we investigate incentives other than altruism that developed countries have in improving technologies specific to developing countries. We propose a simple model of international trade between two regions, in which all individuals have similar preferences over an inferior good and...
Persistent link: https://www.econbiz.de/10005118686