This is a description of the labor market sector in the dynamic medium term macroeconomic model KIMOD developed at the National Institute of Economic Research (NIER). <p> Unemployment is caused by matching inefficiencies of the type described by C. Pissarides in Equilibrium Unemployment, 2000....</p>

A political stock market (PSM) clearly beat the polls in predicting the outcome of a Swedish referendum on whether or not Sweden should join the European Union. In fact, polls were unable to make such predictions since the number of undecided respondents always far exceeded the observed YES/NO...

The robust laboratory evidence of preference reversal for lotteries has been interpreted as a threat to the general validity of standard theories of decision-making under uncertainty. This evidence is obtained from laboratory, that is, not real-world, lotteries with subjects who have not sought...