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Explaining Non-Negative Duration Dependence Among the Unemployed

Serneels, Pieter - EconWPA - 2004

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 … unemployment benefits, the existence of Active Labour Market Policies, the change in labour demand, segmentation of the labour …

Persistent link: https://www.econbiz.de/10005556022

The Nature of Unemployment in Urban Ethiopia

Serneels, Pieter - EconWPA - 2004

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 …With around 50% of the urban men between age 15 and 30 unemployed, Ethiopia has one of the highest unemployment rates …

Persistent link: https://www.econbiz.de/10005556068

The Impact of US Subsidies on the World Cotton Market: A Reassessment

Shepherd, Ben - EconWPA - 2005

Following a critical review of the existing quantitative literature on cotton subsidies, a vector autoregression (VAR) is used to model the effects of US subsidies on the world cotton market from 1965 to 2001. Surprisingly, subsidies are found to have only a limited impact on prices despite...

Persistent link: https://www.econbiz.de/10005119310

No More Rocking Horses: Trading Business-Cycle Depth for Duration Using an Economy-Specific Characteristic.

Mikhail, Ossama - EconWPA - 2004

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

Five Years of Continuous-time Random Walks in Econophysics

Scalas, Enrico - EconWPA - 2005

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

Fractional calculus and continuous-time finance II: the waiting- time distribution

Mainardi, Francesco; Raberto, Marco; Gorenflo, Rudolf; … - EconWPA - 2004

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

Fractional calculus and continuous-time finance

Scalas, Enrico; Gorenflo, Rudolf; Mainardi, Francesco - EconWPA - 2004

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

Waiting-times and returns in high-frequency financial data: an empirical study

Raberto, Marco; Scalas, Enrico; Mainardi, Francesco - EconWPA - 2004

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

Lobbying, Information Transmission, and Unequal Representation

Lagerlof, Johan; Frisell, Lars - EconWPA - 2004

We study the effects of unequal representation in the interest-group system on the degree of information transmission between a lobbyist and a policymaker. Employing a dynamic cheap-talk model in which the lobbyist cares instrumentally about his reputation for truthtelling, we show that the...

Persistent link: https://www.econbiz.de/10005076613

Output Changes and Inflationary Bias in Transition

Filer, Randall K.; Hanousek, Jan - EconWPA - 2001

. Reasonable estimates of the size of the inflationary bias in the Czech Republic suggest that conventionally reported declines in …

Persistent link: https://www.econbiz.de/10005126136