A duration model based on the time on Unemployment Insurance (UI) benefits instead of amodel based on the time till re-employment is more relevant from a cost-benefit perspective.The contribution of this paper is to extend the standard (mixed) Proportional Hazard model toaccount for an upper...

"Loayza and Rancire study the apparent contradiction between two strands of the literature on the effects of financial intermediation on economic activity. On the one hand, the empirical growth literature finds a positive effect of financial depth as measured by, for instance, private domestic...