In this paper we investigate if the predictions of three different models of capital adjustment costs are consistent with the observed investment patterns among manufacturing firms in five African countries. We document a high frequency of zero investment episodes, which is consistent with both...

We develop a class of ARCH models for series sampled at unequal time intervals set by trade orquote arrivals. Our approach combines insights from the temporal aggregation for GARCH models discussed byDrost and Nijman (1993) and Drost and Werker (1996), and the autoregressive conditional duration...

Purpose – Using a Spanish administrative data set, the authors document the importance of recalls in labour market transitions. The authors focus on two issues: the interplay between the unemployment compensation system, the widespread use of fixed-term contracts and the layoff-rehire process;...

Purpose The purpose of this paper is to assess the probability of job separations of immigrants and natives in the UK before and during the economic crisis of 2008. Design/methodology/approach A mixed proportional hazard duration model with a semi-parametric piecewise constant baseline hazard is...

Purpose – This paper investigates whether the effect of unemployment benefits (UB) on unemployment duration is the same for individuals belonging to different wealth groups. Design/methodology/approach – Using a sample of newly unemployed individuals from Italy in 2007, we perform...