We propose and illustrate a Markov-switching multi-fractal duration (MSMD) model for analysis of inter-trade durations …

reported between interviews. Seam bias is likely to affect duration models severely since both the start date and the end date … parametric misreporting models for use in multi-state, multi-spell duration analysis; the models are identified if misreporting …

Studies of the consumption-smoothing benefits of unemployment insurance (UI) have found that the optimal benefit level … optimal benefit rate in terms of income and price elasticities of unemployment durations, directly inferring risk aversion for … income effects account for 70% of the effect of UI on unemployment durations, and yield an optimal replacement rate around 50 …

with search effort and the exit rate from unemployment, and are orthogonal to reservation wages. Overall, impatience has a …How does impatience affect job search? More impatient workers search less intensively and set a lower reservation wage …. The effect on the exit rate from unemployment is unclear. In this paper we show that, if agents have exponential time …

We incorporate reference-dependent worker behavior into a search-matching model of the labor market, in which firms …