Showing 1 - 10 of 71
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
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
In this paper, the effects of alternatives to finance unemployment benefits on employment and wages are examined in a … model with search generated equilibrium unemployment. It is demonstrated that employment improves if a value--added tax is …
Persistent link: https://www.econbiz.de/10005125902
Using unique retail and wholesale price data for 4,532 products carried by a major Midwestern grocery retailer, we find evidence of significant retail price rigidity during the Thanksgiving through Christmas holiday period relative to the rest of the year. We suggest that this pattern of holiday...
Persistent link: https://www.econbiz.de/10005126197
The present paper proposes to employ a major shift in the legal and institutional environment to identify contractual incentives from the correlation of executive pay and firm performance. We use the reform of the German stock companies act in 1884 as such a major shift and estimate the...
Persistent link: https://www.econbiz.de/10005413146
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
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
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