This study uses data for the U.S. from the May 1991 CPS and for Germany from the 1990 wave of the Socioeconomic Panel (GSOEP) to analyze when people work during the day and week. The evidence shows: 1) Work in the evenings or at night is quite common in both countries, with around 7 percent of...

We use futures instead of forward rates to study the complete maturity spectrum of the forward premium puzzle from two days to six months. At short maturities the slope coefficient is positive, but these turn negative as the maturity increases to the monthly level. Futures data allow us to...