In the financial crisis literature, it is usually argued that, contrary to the case of currency crises, building a time series index to identify banking crisis episodes is highly difficult, particularly because of the lack of reliable data on banking sector variables (non-performing loans,...

This paper employs ordered probit, partial adjustment, and vector error correction models to characterize price adjustments in the Philippine retail gasoline market since its deregulation. It finds that pricing decisions of oil firms depend significantly on eight weeks of previous changes in...

This paper attempts to provide an empirical determination of the Philippine central bank's (BSP) recent monetary policy stance, before and after its adoption of the inflation targeting framework, as revealed by its interest rate setting behavior. Employing Clarida, Gali, and Gertler's (1998,...

Using an econometric procedure that corrects for both self-selection of individuals into their preferred compensation scheme and wage endogeneity, this study investigates whether significant differences exist in the job satisfaction of individuals receiving performance- related pay (PRP)...

This paper engages in a novel comparison of differences in the perceived quality of high and low-paid jobs across six European labour markets. Utilizing data from six waves (1996-2001) of the European Community Household Panel (ECHP), and after correcting for the selectivity problem that is...

This study investigates the role of adverse working conditions in the determination of individual wages and overall job satisfaction in the Finnish labour market. The potential influence of adverse working conditions on self-reported fairness of pay at the workplace is considered as an...

In this paper we study the labour market behavior of employed individuals that have entrepreneurial aspirations in addition to aspirations to switch job. We analyze empirically these two “search processes” side-by-side and report three main findings: First, neither entrepreneurial...

In this paper we try to understand the determinants of job satisfaction. The population of US Ph.D. graduates provides a useful homogeneity - same level of education - and an interesting heterogeneity - different career outcomes, academics vs. non academics. Empirically we use the Survey of...