In dynamic discrete choice analysis, controlling for unobserved heterogeneity is an important issue, and finite mixture models provide flexible ways to account for unobserved heterogeneity. This paper studies nonparametric identifiability of type probabilities and type-specific component...

This paper analyzes the stability of monetary regimes in an economy where fiat money is endogenously created by the government, information about its value is imperfect, and learning is decentralized. We show that monetary stability depends crucially on the speed of information transmission in...

This paper investigates whether firms innovate persistently or discontinuously over time using an innovation panel data set on German manufacturing and service firms for the period 1994?2002. We find that innovation behaviour is permanent at the firm?level to a very large extent. Using a dynamic...

In dynamic discrete choice analysis, controlling for unobserved heterogeneity is an important issue, and finite mixture models provide flexible ways to account for unobserved heterogeneity. This paper studies nonparametric identifiability of type probabilities and type-specific component...

The issues of persistence in the observed labour market status of men are investigated using the British Household Panel Survey for the period 1991-97. The paper extends previous work in many directions. In particular, problems of endogenous initial conditions, and unobserved heterogeneity, are...

The issues of persistence in the observed labour market status of men are investigated using the British Household Panel Survey for the period 1991-97. The paper extends previous work in many directions. In particular, problems of endogenous initial conditions, and unobserved heterogeneity, are...

This paper examines the extent of state dependence in unemployment and the role played in this by intervening low-wage employment. A range of dynamic random and fixed effects estimators are compared. Low-wage employment is found to have almost as large an adverse effect as unemployment on future...

The issues of persistence in the observed labour market status of men are investigated using the British Household Panel Survey for the period 1991-97. The paper extends previous work in many directions. In particular, problems of endogenous initial conditions, and unobserved heterogeneity, are...

This study examines the extent state dependence among unemployed Danish immigrants in a dynamic discrete choice framework. Three alternative methodologies are employed to control for the problem of the initial condition. The empirical findings show that there is a considerable correlation...

This paper investigates whether firms innovate persistently or discontinuously over time using an innovation panel data set on German manufacturing and service firms for the period 1994?2002. We find that innovation behaviour is permanent at the firm?level to a very large extent. Using a dynamic...