Using the data from the Spanish survey on life quality at work, we examine the importance of intangible job characteristics in workers’ job and life satisfaction. Our analysis shows that on both job and life satisfaction, the combined monetary value of intangible job characteristics such as...

Usual projections of health care expenditure combine age-sex profiles of health expenditure and scenarios of population projection. However, it has been shown repeatedly that both age-sex specific health expenditures and the population structures in the future are highly uncertain and most...

In this work we study older workers’ (50—64) labor force transitions after a health/disability shock. We find that the probability of keeping working decreases with both age and severity of the shock. Moreover, we find strong interactions between age and severity in the 50—64 age range and...

As European population is becoming older, the financial foundations of Europe’s state-pension systems are beginning to crumble. European governments must face the unpalatable truth that their current pensions schemes are not sustainable, and provide all the required information to voters so...

We examine the dimension reduction method and prove that it could be isleading if we try to get some insight tinto the dynamics of the original system from the dynamics of the transformed system alone. The reduced system seemingly may give rise to a continuum multiplicity of steady states when,...

We provide a long term perspective on the individual retirement behavior and on the future of early retirement. In a cross-country sample, we find that total pension spending depends positively on the degree of early retirement and on the share of elderly in the population, which increase the...

Este trabajo propone una metodología para obtener series suficientemente largas de un indicador adecuado de capital humano. En contraste con los trabajos previos, se utilizan los datos de la Encuesta de Población Activa relativos al nivel de estudios efectivamente terminados para construir...

This paper examines the linkages between US and Latin American the stock markets during the 1995-2002 period using recently-developed cointegration techniques that allow for structural shifts in the long-run relationship. Our results suggest that, if we apply conventional cointegration tests, we...

Among the working age population, one of the most damaging individual experience is found to be unemployment. Many previous studies have confirmed devastating effects of unemployment on individual well-being, both pecuniary and non-pecuniary. Using the data from the European Community Household...

This paper examines the regime changes in the European Exchange Rate Mechanism (ERM), making use of the duration model approach covering the complete European Monetary System (EMS) history. From the nonparametric (univariate) analysis, we find that the probability of maintaining the current...