This paper studies a dynamic model of crises with timing frictions that combines the main aspects of Morris and Shin (1998) and Frankel and Pauzner (2000). The usual arguments for existence and uniqueness of equilibrium cannot be applied. It is shown that the model has a unique equilibrium...

Considerable cross-sectional evidence has highlighted the lower employment rates and earnings amongst disabled people in Britain. But very little is known about the progression of disabled people in employment. This study uses data from the Labour Force Survey (LFS) to examine the labour market...