Famines are extreme cases of environmental stress, and have been used by a series of studies to explore the long-term consequences of the fetal or childhood environment. Results are inconsistent and do not support negative long-term effects on mortality. The authors test the hypothesis that...

This paper investigates the price-setting behavior in Japan by using the CPI micro data in the Retail Price Survey from 1989 to 2003. We establish the four facts as follows. First, the frequency of price changes for goods is high while that for services is low. The frequency of price changes for...

Worker-managed firms (WMFs) represent a marginal proportion of total firms and aggregate employment in most countries. The bulk of firms in real economies is ultimately controlled by capital suppliers. Different theoretical explanations suggest that WMFs are prone to failure in competitive...

This paper looks at labor force mobility in the formal labor market in Uruguay during 1997-2009. The study is based on a sample of longitudianal labor histories taken from the social security administrative records. Different indicators are considered : entry and exit rates, transitions across...

Using administrative panel data, this paper presents a comprehensive empirical analysis of the return of recent foreign students in the Netherlands. We focus on how individual labour market changes and marriage formation influence their decision to leave. Our model allows for correlated...

A flexible statistical approach for the analysis of time-varying dynamics of transaction data on financial markets is here applied to intra-day trading strategies. A local adaptive technique is used to successfully predict financial time series, i.e., the buyer and the seller-initiated trading...

Using a local adaptive Forward Intensities Approach (FIA) we investigate multiperiod corporate defaults and other delisting schemes. The proposed approach is fully datadriven and is based on local adaptive estimation and the selection of optimal estimation windows. Time-dependent model...

Napjaink egyik legnagyobb érdeklődést kiváltó gazdaságelméleti területe a tőzsde. Az a felismerés ugyanis, hogy különböző értékpapírok árfolyamainak mozgását jól le lehet írni egy sztochasztikus folyamattal, megnyitotta az utat a tőzsde, illetve különböző...

We develop and estimate a non-stationary job search model to evaluate a scheme that monitors job search effort and sanctions insured unemployed whose effort is deemed insufficient. The model reveals that such schemes provide incentives to the unemployed to front-load search effort prior to...

We demonstrate improvements in predictive power when introducing spline functions to take account of highly non-linear relationships between firm failure and earnings, leverage, and liquidity in a logistic bankruptcy model. Our results show that modeling excessive non-linearities yields...