We use a compound option-based structural credit risk model to infer a term structure of banking crisis risk from market data on bank stocks in daily frequency. Considering debt service payments with different maturities this term structure assigns a separate estimator for short- and long-term...

In order to estimate labour supply responses among older people we have employed a very simple model of retirement decisions that can be estimated on a single cross-section sample, and still be given a structural interpretation in terms of inter-temporal decisions. The model is estimated on...

People in the Nordic countries of Denmark, Finland, Iceland and Sweden work more than the countries’ high tax rates would lead us to predict. This observation is explained by a shared belief system that emphasises women’s rights to labour market participation.

The Spanish Influenza pandemic of 1918-19 was one of the most devastating diseases in history, killing perhaps as many as 50-100 million people worldwide. In addition to the high death toll and the high general lethality, the disease had a peculiar feature: the largest increase in death rates...