A wage equation for a small open economy is derived and estimated on aggregate data for the Nordic countries. The equation is derived from a model of wage bargaining over nominal wages; hence both long run coefficients and adjustment parameters have clear economic interpretations. Wages depend...

Who is wealthy? This paper presents empirical estimates of household movements into and out of the top percents of the wealth distribution over individual life cycles. There are life-cycle motives and precautionary motives for wealth accumulation. The opportunities to accumulate wealth create...

I decompose the cross-sectional variance of male annual earnings in Sweden between 1960 and 1990 into permanent and transitory components. The transitory variance increased until the early 1970s, declined during the remainder of the decade and then rose again during the second half of the 1980s....

The cohort crowding literature suggests that the size of one’s generation, or cohort, has repercussions on the level and shape of one’s earnings profile. We estimate cohort size effects on earnings profiles and further assess whether these profiles are affected by the individuals. position...

In this paper we investigate the determinants of municipal labour demand in Sweden 1988-1995. Utilising a major grant reform in 1993, through which a switch from mainly targeted to mainly general central government grants occurred, we are able to identify which type of grants that have the...

This paper uses a panel of Swedish counties over the years 1988-99 to study the effects of unemployment on property crime rates. The period under study is characterized by great turbulence in the labor market - the variation in the unemployment rates is unprecedented in the second half of the...

Given differences in public saving programs between Sweden and the United States, an examination of household private wealth accumulation in these two countries can be enlightening. In this paper we examine wealth inequality and mobility in Sweden and the United States over the past decade. We...

This paper explores the relationship between income inequality and growth using panel data on Swedish counties from 1960-2000. Compared to standard methods of estimating this relationship yearly regional level data are used, and inequality is allowed to be endogenous. We find a significant...

We investigate the influence of financial leverage on firms' hiring decisions in the context of a hierarchy of finance model. The analysis is based on the Euler equation of employment in the presence of convex adjustment costs. We show the empirical implications of firms facing a hierarchy of...

Two different bootstrap approaches for GMM estimation have recently been suggested for use in dynamic panel data models (Brown & Newey (1995) and Hall & Horowitz (1996)) In this paper we compare the small sample properties of these estimators, suggest how sequential testing can be conducted...