This paper investigates the existence of a job queue for formal (registered) jobs in the Brazilian labour market in an endogenous switching regression framework. This approach aims at correctly specifying the allocation process in the presence of queuing and getting unbiased wage equation...

I show that deterministic dynamic contracts between a principal and an agent are always at least as profitable to the principal as stochastic ones, if the so-called first-order approach in dynamic mechanism design is satisfied. The principal commits, while the agent's type evolution follows a...

To simultaneously consider mixed-frequency time series, their joint dynamics, and possible structural changes, we introduce a time-varying parameter mixed-frequency VAR. To keep our approach from becoming too complex, we implement time variation parsimoniously: only the intercepts and a common...