By allowing for imperfectly informed markets and the role of private information, we offer newinsights about observed deviations of portfolio concentrations in domestic relative to foreignrisky assets, or “home bias”, from what standard finance models predict. Our model ascribesthe...

Many emerging markets have undertaken significant financial sector reforms especially in their banking sectors that have been quite critical for both financial development and real economic activity. In this paper, we investigate the success of banking reforms in India where significant banking...

Unlike other disability systems in developed economies, the Spanish system allows partiallydisabled individuals to work while receiving disability benefits. The puzzle is, however, thatemployment rates in this group of individuals are very low. The aim of this paper is tounderstand the...

This paper estimates a structural model of the employment decision of the firm. Ourestablishment level data displays an extreme degree of rigidity in that employment levels arelargely constant throughout our sample...

In this paper we use Portuguese data on individual (multiple) unemployment spells and applysemi-parametric duration models to investigate the effects of different types of disabilities on(re)employment probabilities. We find that disabled persons with muscular, skeletal, geriatricand sensorial...

This paper investigates the effect of sanctions of unemployment insurance benefits on theexit rate from unemployment for a sample of Danish unemployed. According to the findingsare that even moderate sanctions have rather large effects...

This survey is devoted to the statistical analysis of duration models and point processes. Thefirst section introduces specific concepts and definitions for single-spell duration models.Section two is devoted to the presentation of conditional duration models which incorporatethe effects of...

A duration model based on the time on Unemployment Insurance (UI) benefits instead of amodel based on the time till re-employment is more relevant from a cost-benefit perspective.The contribution of this paper is to extend the standard (mixed) Proportional Hazard model toaccount for an upper...

The emergence of a transitional labor market offers new opportunities to workers, but at thesame time bears the risk of (new) inequalities. This paper deals with unequal chances on thetransitional labor market in the Netherlands, in particular for workers from the four largestimmigrant groups:...

Based on a sequence of reforms in the Norwegian unemployment insurance (UI) system, weshow that activity-oriented UI regimes – i.e., regimes with a high likelihood of requiredparticipation in active labor market programs, duration limitations on unconditional UIentitlements, and high sanction...