This paper evaluates the possible consequences of the forthcoming European and Monetary Union on wage behaviour. It will be shown that EMU does not influence wage policy directly, but rather indirectly through its implications on other areas of economic policy, predominantly on monetary policy....

We examine a new general class of hazard rate models for survival data, containing a parametric and a nonparametric component. Both can be a mix of a time effect and (possibly time-dependent) marker or covariate effects. A number of well-known models are special cases. In a counting process...

In a meritocratic society an individual's economic success is determined by their ability, not by their parents' socio-economic status. We assess whether meritocracy has increased in both the British education system and labour market. The richness of our longitudinal data enables us to look at...

In a meritocratic society an individual's economic success is determined by their ability, not by their parents' socio-economic status. We assess whether meritocracy has increased in both the British education system and labour market. The richness of our longitudinal data enables us to look at...

A regression model is considered where earnings are explained by schooling and ability. It is assumed that schooling is measured with error and that there are no data on ability. Regressing earnings on observed schooling then yields an estimate of the return to schooling that is subject to...