An often heard view is that exchange rate variability will decrease for a country that joins the EMU. This is not necessarily true. Both real and nominal exchange rate variability increase under certain circumstances when asymmetric demand shocks occur inside or outside the union. These results...

This paper provides empirical evidence on life-cycle patterns in the asset allocation of Swedish households. Data on household portfolio allocation are collected from the HINK surveys for the period 1982-1992, and portfolio shares of different asset categories are regressed on age, period, and...

Many countries consider the residential concentration among immigrants a problem. This paper studies the factors influencing individual location decisions and evaluates a Swedish attempt to change the residential distribution of refugee immigrants in the late 1980's. Despite common perceptions,...

Earlier studies estimating the demand for local public services by means of the median voter model have typically assumed exogenous regressors and static set-ups. Furthermore, the commonly used log-linear specification of the demand function has in most cases not been supported by a well-defined...

We construct a model of a financially constrained firm making pricing and investment decisions. The firm operates in a market where customers respond slowly to price changes and there are implementation lags in investment (time to build). Our model implies that the markup over marginal cost is...

Many developed countries, e.g. the UK, Germany, and Sweden, use or have used settlement policies to direct the inflow of new immigrants away from immigrant dense metropolitan areas. We evaluate a reform of Swedish immigration policy that featured dispersion of refugee immigrants across the...

The basic idea in this paper is that labor supply can be viewed as a function of the entire budget set, so that one way to account non-parametrically for a nonlinear budget set is to estimate a nonparametric regression where the variable in the regression is the budget set. In the special case...

This paper examines the synchronous leisure of spouses and the extent to which spouses spend time together. The time budget data set used in this paper allows for a distinction between simultaneous time-use of spouses and the actual time that spouses meet. A comparison between couples and...

The first part of the paper reports the results from a sequence of laboratory experiments comparing the bidding behavior for multiple contracts in three different sealed bid auction mechanisms; first-price simultaneous, first-price sequential and first-price combinatorial bidding. The design of...