Using Dutch transaction-level data on international trade we find that the intensive margin drives Dutch trade growth year by year. After 6 years, new trade relations cover about 50 percent of Dutch exports. Each year 40 percent of the relations are new, but only 25 percent survives after two...

People want to live nearby consumption amenities as this saves time on commuting. This paper develops a residential location model in which the geographical range and the magnitude of amenity benefits as reflected in residential prices can ex post be assessed. First we extend a standard...

This research estimates models of the importance of conscientiousness for socio-economic outcomes. We use measures of conscientiousness at age 16 to explain adult wages and other outcomes, such as crime, health and savings behaviour. <span style="font-family: 'Calibri','sans-serif'; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi; mso-ansi-language: NL; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"><span style="color: #000000;"><span style="font-family: 'Calibri','sans-serif'; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi; mso-ansi-language: NL; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">We use several waves from the 1970 British Cohort Study. Our...</span></span></span>

Keynesian theory predicts output responses upon a fiscal expansion in a small open economy to be larger under fixed than under floating exchange rates. We analyse the effects of fiscal expansions using a New Keynesian model and find that the reverse holds in the presence of sovereign default...

This paper studies the redistribution and welfare effects of increasing the flexibility of individual pension take-up. We use an overlapping-generations model with Beveridgean pay-as-you-go pensions, where individuals differ in ability and life span. We find that introducing flexible pension...

We estimate the impact of the marginal tax rate on the ownership in risk-bearing assets and on the share in total assets. In contrast to the literature, we use instrumental variables to correct for endogeneity of the marginal tax rate on capital income. Moreover, we use the exogenous variation...

We use a panel data set of about 1.7 million hospital records in 4,000 Dutch zip code regions for the years 2006-2009. We estimate the effect of physician fees and physician density on regional variation in hospital care for nine different treatments. Our results show that a 1 percent increase...

Mirror data are observations of bilateral variables such as trade from one country to another, reported by both countries. The efficient estimation of a bilateral variable from its mirror data, for example when compiling consistent international trade statistics, requires information about the...

This paper studies the interaction between macro-economic risk and paygo social security. For this, it uses an applied general equilibrium model with overlapping generations of risk-averse households. The sources of risk are productivity shocks and depreciation shocks. The risk profile of...

In financial markets, traders deal in assets and options. There exist many types of options and the best-known are the European call and put option. These options give holders the right to buy or sell assets at a specific future time for a predetermined price. This paper examines options of...