While results are starting to emerge, not much is known yet about the dynamics of the labormarkets of the former Eastern economies, especially in the context of the current FinancialCrisis. Arguably, this is mainly due to paucity of (panel) data. By examining labor markettransitions, earnings...

By allowing for imperfectly informed markets and the role of private information, we offer newinsights about observed deviations of portfolio concentrations in domestic relative to foreignrisky assets, or “home bias”, from what standard finance models predict. Our model ascribesthe...