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First, we give a closed-form formula for first passage time of a reflected Brownian motion with drift. This corrects a formula by Perry et al. (2004). Second, we show that the maximum before a fixed drawdown is exponentially distributed for any drawdown, if and only if the diffusion...
Persistent link: https://www.econbiz.de/10012127939
aligning these blocks into a bootstrap sample. Recently, several matching schemes for the block bootstraps have been suggested … to improve its performance by reduction of bias [Bernoulli 4 (1998), 305]. The matching schemes are usually achieved by … aligning with higher likelihood those blocks which match at their ends. The kernel matching scheme we consider here takes some …
Persistent link: https://www.econbiz.de/10014072946
I analyze the matching process in the Spanish labor market from 1994-2005. I use monthly registered unemployment data … queuing model, which is the most relevant description of the labor market matching process in Spain, according to the …
Persistent link: https://www.econbiz.de/10012994789
I analyze the matching process in the Spanish labor market from 1994-2005. I use monthly registered unemployment data … queuing model, which is the most relevant description of the labor market matching process in Spain, according to the …
Persistent link: https://www.econbiz.de/10011452859
In this paper we estimate aggregate matching functions taking advantage of a rich data base that enables us to compute … observations on the variables in the matching function at (virtually) any frequency to assess the importance of the time … stock-slow matching. Finally, we assess the contribution of labour market programme participants to matching.Our evidence …
Persistent link: https://www.econbiz.de/10010317924
Die Entwicklung von Arbeitslosigkeit und Beschäftigung wird maßgeblich von den Übergängen auf dem Arbeitsmarkt beeinflusst. Daniela Nordmeier analysiert die Übergänge von Arbeitskräften, also Einstellungen und Entlassungen, im konjunkturellen Kontext. Dabei stützt sie sich auf...
Persistent link: https://www.econbiz.de/10014433964
This paper addresses the choice of an optimal smoothing parameter for local polynomial matching. A version of Empirical … Bias Bandwidth Selection (EBBS) proposed by Ruppert (1997) is applied to account for the MSE computation of the matching … estimator. Thereby, an estimator for the large sample variance of the local polynomial matching estimator is also provided. A …
Persistent link: https://www.econbiz.de/10012726981
strong approximation theory of sample averages of serially dependent random vectors with dimensions growing with the sample …–Pissarides search and matching model for equilibrium unemployment, and shed new light on the unemployment volatility puzzle from an …
Persistent link: https://www.econbiz.de/10012117544