Standard macroeconomic forecasting indicators and techniques perform poorly in predicting inflation in the short-run. In contrast, the present paper shows that microeconomic price data placed in an empirical framework rooted in (S,s) pricing theory convey extra information on inflation dynamics....

Shortage of nurses is a problem in several countries. It is an unsettled question whether increasing wages constitute a viable policy for extracting more labor supply from nurses. In this paper we use a unique matched panel data set of Norwegian nurses covering the period 1993-1997 to estimate...

In a "fixed-effect" panel data model with a nonparametric regression function \rho(x_{it}), the usual first-differencing yields a nonparametric regression function \mu(x_{it},x_{i,t+1}) with the restriction \mu(x_{it},x_{i,t+1}) = \rho(x_{i,t+1}) - \rho(x_{it}). Although \mu(x_{it},x_{i,t+1})...

This paper considers a panel duration model that has a proportional hazards specification with fixed effects. The paper shows how to estimate the baseline and integrated baseline hazard functions without assuming that they belong to known, finite dimensional families of functions. Existing...

In this paper we analyze the importance of intertemporal non-separabilities for consumption decisions using household data. We follow the test suggested by Meghir and Weber (1996), so we exploit the variability of the within-period marginal rate of substitution (MRS) between commodities. We also...