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This paper connects two branches of economics in a study of the price formation of industrial commodities. The first branch is the theory of irreversible investment under uncertainty, the second the theory of competitive speculation in stocks. A model which combines these two elements is...
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We use administrative data for Norway to estimate an incomplete-market life-cycle model of retired singles and couples …
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model requires only cross section data and is estimated on survey data for Italy and register data for Norway. The estimates … cuts in pension benefits in Norway than in Italy. …
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We consider the early labour market experience of young persons. Using a large data sample of Norwegian individuals finishing education in 1989-91, we analyse the transition from school to work and the duration of the first job. We allow the search duration, the accepted wage, and the job...
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