This paper investigates some common determinants of default probability changes ofindividual firms using Standard & Poor's ratings database. We analyze and quantify the re-sponses of hazard rates to changes in various economic variables, namely financial markets,business cycle and credit...

Based on administrative data from the federal employment office in Germany, we apply matching techniques to estimate the stepping-stone function of temporary agency work for the unemployed, i.e. its short-run and long-run effects on their future employment prospects. Our results show that...

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...

Im Mittelpunkt dieses Beitrag stehen Verweildauermodelle und deren Verwendung als Analyseinstrumente für die Bewertung und Berechnung von Kreditausfallrisiken. Verschiedene Möglichkeiten zur Berechnung der Dauer des Nichtausfalls eines Kredites werden dabei vorgestellt. Die hier vorgestellten...

Using data from the German Socio-Economic Panel Study (GSOEP), we analyze whethernecessity entrepreneurs differ from opportunity entrepreneurs in terms of self-employmentduration. Using univariate statistics, we find that opportunity entrepreneurs remain in selfemploymentlonger than necessity...

We analyze the duration of the patent examination process at the EuropeanPatent Office (EPO). Our data contain information related to the patent’seconomic and technical relevance, EPO capacity and workload as well as novelcitation measures which are derived from the EPO’s search reports. In...

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 assesses the impact of product market competition on job instability as proxied bythe use of fixed-term labor contracts. Using both worker data from the Spanish Labor ForceSurvey and firm data from the Spanish Business Strategies Survey, I show that job instabilityrises with...

This study examines the determinants of job-finding rates of unemployment benefit recipientsunder the Chilean program. This is a unique, innovative program that combines socialinsurance through a solidarity fund (SF) with self-insurance in the form of unemploymentinsurance savings accounts...

The evaluation of the likelihood function of the stochastic conditional duration model requires to compute an integral that has the dimension of the sample size. We apply the efficient importance sampling method for computing this integral. We compare EIS-based ML estimation with QML estimation...