For the evaluation of policy reforms numerous governments use, among other sources, administrative social security data. Although this data is large and contains detailed information about policy measures, it inherits several limitations due to the administrative process of generating data. This...

Many popular estimators for duration models require independent competing risks or independent censoring. In contrast, copula based estimators are also consistent in presence of dependent competing risks. In this paper we suggest a computationally convenient extension of the Copula Graphic...

Long-run economic growth is analysed in a global model with many small countries prone to national level total factor productivity shocks. The possibility of precautionary saving or dissaving is a function of the higher-order moments and the cross-moments of the factor income distributions,...

Significant amount of vertical technology transfer occurs between developed and developing country firms, yet the literature on intellectual property rights did not pay much attention to this aspect. We show that whether or not the incumbent and the entrant final goods producers are from the...

In order to confine excessive levels of temporary layoffs, US firms are taxed - albeit incompletely - according to the unemployment insurance benefits claimed by their laid off workers. In contrast, German construction firms are not charged according to their layoff history and should thus have...

Employing a large individual-level administrative dataset from Great Britain, covering the period 1999-2007, we analyse the factors influencing the length of unemployment benefits claimant periods with subsequent transition to re-employment. To this end, this individual-level data is merged with...

The CAPM can explain closed-end fund (CEF) discounts as a consequence of the higher betas on CEF shares than on their underlying portfolios. The difference in betas is much greater for international funds and for bond funds than for domestic equity funds. CEF shares carry both more idiosyncratic...

In this paper we model multiple jobholding empirically using a specially collected database for the region of Magnesia in Greece. We find that although income plays a major deterministic impact on multiple jobholding, other factors have a determining the final outcome of the individual’s...

Considering Cournot competition, this note shows that, if the firms differ in labor productivities, the equilibrium wage rates under a centralized labor union are not independent of the number of firms and product differentiation if the labor union charges a uniform wage rate. However, if the...

We show the incentive for divisionalization by a monopolist producer. In contrast to the previous literature, where divisionalization occurs for product market advantage, we show that divisionalization occurs if it provides strategic advantage in the labor market. With unionized labor market, we...