The paper analyses the potential impact of stock market developments on lending behaviour from different perspectives. First we scrutinize the impact of stock market movements on the banks’ and on the borrowers’ balance sheets. Subsequently we estimate aggregate credit supply and demand...

In light of nonstationary search theory (van den Berg, 1990), this paper estimates the effects of benefit entitlement periods and the size of unemployment benefits on unemployment durations and post{unemployment earnings in West Germany. For the unemployment duration, we estimate censored...

Recent labor market reforms in Germany aim, among other things, at reducing unemployment by restricting passive unemployment measures, emphasizing local labor market policies and re-structuring public employment services. This paper uses extensive individual administrative and regional aggregate...

In this paper, we estimate the effect of different macro and micro variables on thedistribution of unemployment duration in West Germany using censored quantile regressions. We analyze unemployment periods of more than 91,000 observations from the years 1981 to 1997 drawn from the IAB employment...

Unemployment information in individual level register data depends on institutional settings, administrative procedures and which registers are merged. In this paper we suggest different implementation strategies for common international and German legal unemployment definitions for the Sample...

In many econometric applications it is unclear from the very beginning whether a parametric functional of a continuous regressor should be specified as a linear, as a higher order polynomial or as a piecewise linear. Nonparametric estimators can provide relevant information as they are a...

Economic theory suggests that an extension of the maximum length of entitlement for unemployment benefits increases the duration of unemployment. Empirical results for the reform of the unemployment compensation system in Germany during the 1980s are less clear. The analysis in this paper is...

We compare information on the length of unemployment spells contained in the IAB employment subsample (IABS) and in the German Socio-Economic Panel (GSOEP). Due to the lack of information on registered unemployment in the IABS, we use two proxies of unemployment in the IABS as introduced by...