This paper investigates the reservation wages of unemployed persons on the basis of a job-search model with non-static reservation wages using panel data from Germany from 1987 to 1998. The results suggest that reservation wages are relatively high in Germany compared to other countries....

We estimate the effects of initial labour market entry conditions on a range of subsequent job outcomes for men and women who entered the British labour market between 1991 and 2009, using data from the British Household Panel Survey and its successor Understanding Society. We find that the...

We investigate whether US households possess advance information about their future income and what this means for consumption insurance. Based on insights from a theoretical model, we propose a new test to detect advance information, which requires only panel data on consumption and income....

An empirical analysis of labor market transitions for spouses in couples is implemented. Object of study are transitions between the states of nonparticipation, unemployed search, and employment. Motivated by a model of household search, the emphasis is on spousal variables and interactions....

In this paper we analyze a mechanism that is particularly relevant to the workings of the Great Recession: we explain how easier home financing and higher homeownership rates increase unemployment rates. To this purpose we build a model of job search with liquid wealth accumulation and...

Studies about innovation find evidence of a positive relationship between technological advancement and firm performance, in particular when the innovative effort is continuous. This paper aims to further the analysis on the duration of R&D investment at the firm level. The contribution of this...

This paper shows that popular linear fixed-effects panel-data estimators (first-differences, within-transformation) are biased and inconsistent when applied in a discrete-time hazard setting, that is, one with the outcome variable being a binary dummy indicating an absorbing state, even if the...

Studies about innovation find evidence of a positive relationship between technological advancement and firm performance, in particular when the innovative effort is continuous. This paper aims to further the analysis on the duration of R&D investment at the firm level. The contribution of this...

The unemployed in the United States appear to allocate time to job search activities regardless of the stance of the economy. Drawing on the American Time Use Survey between 2003 and 2014, I document that the unemployed increase their search intensity only slightly if at all during recessions....

This paper proves that the Mortensen-Pissarides matching theory is nothing but a tautology. They started with an assumption and ended with the same as solution. Their assumption/solution is also at odds with the Beveridge, or the negative vacancy-unemployment relation