This paper discusses the determinants of the retirement decision and the implications of retirement on economic well-being. The main contribution of the paper is to formulate the role of individual heterogeneity explicitly. We argue that individual heterogeneity in 1) productivity of market work...

Governments in virtually all developed countries subsidise “guided preparation” for entrepreneurial activity. Despite being so widespread, the evidence that this assistance enhances venture performance remains in dispute, primarily because of a lack of consensus over statistical approaches....

ABSTRACT The literature on occupational health points to work pressure as a trigger of sickness absence. However, reliable, objective measures of work pressure are in short supply. This paper uses Danish day care teachers as an ideal case for analysing whether work pressure measured by the...

We model earnings processes allowing for lots of heterogeneity across agents. We also introduce an extension to the linear ARMA model which allows the initial convergence in the long run to be different from that implied by the conventional ARMA model. This is particularly important for unit...

In this article, we survey the literature on individual earnings dynamics with a particular focus on allowing for pervasive heterogeneity across individuals. We structure the discussion around ARMA processes with nonlinear trends for each individual. We show that allowing for pervasive and...

Availability of (partial) insurance mechanisms is arguably important for the decision of (riskaverse) workers to start up a risky entrepreneurial venture. Using administrative data from Denmark, where unemployment insurance (UI) is available to both wage earners and self-employed on a voluntary...