I use Swedish establishment-level panel data to test Bertola and Rogerson's (1997) hypothesis of a positive relation between the degree of wage compression and job reallocation. Results indicate that the effect of wage compression on job turnover is positive and significant in the manufacturing...

I analyze the matching process in the Spanish labor market from 1994-2005. I use monthly registered unemployment data and refer solely to public employment intermediation. This period reflects an upward movement along a downward sloping Beveridge curve; therefore, major changes in the process...

I analyze the matching process in the Spanish labor market from 1994-2005. I use monthly registered unemployment data and refer solely to public employment intermediation. This period reflects an upward movement along a downward sloping Beveridge curve; therefore, major changes in the process...

We give a simple explicit formula for turnover reduction when a large number of alphas are traded on the same execution platform and trades are crossed internally. We model turnover reduction via alpha correlations. Then, for a large number of alphas, turnover reduction is related to the largest...

Wir konstruieren ein neues Modell unbeobachteter Komponenten mit Markov-Switching zur Analyse von Hysterese-Effekten, also der Verfestigung ursprünglich zyklischer Fluktuationen. Das Modell kombiniert die Bestandteile einer Trend-Zyklus Zerlegung, der Identifikation von gegenseitigen...

Dynamic discrete-choice models are an important tool in studies of state dependence in benefit receipt. A common assumption of such models is that benefit receipt sequences follow a conditional Markov process. This property has implications for how estimated period-to-period benefit transition...