Empirical research has shown that inexperienced fund managers yield significantly higher returns than their more experienced colleagues. If the portfolios of inexperienced are not more risky, this result would contradict the hypothesis of market efficiency. Therefore, it is an important question...

Our paper investigates the link between international outsourcing and wages utilising a large household panel and combining it with industry level information on industries? outsourcing activities from input-output tables. By doing so we can arguably overcome the potential aggregation bias as...

Ukrainian exports can be explained by standard demand theory in the long run. Using the Johansen procedure the data do not reject the hypothesis of a unit foreign-production elasticity of Ukrainian exports, which are rather price-elastic inputs for foreign producers. It is argued that due to...

Real effective exchange rates and economic activity in trading partner countries have a considerable impact on real exports of the G7-countries. Using an errorcorrection framework we find that the short-run and the long-run effects differ substantially between the countries. The relative...

We examine peer effects in welfare use among immigrants to Sweden by exploiting a governmental refugee placement policy. We distinguish between the quantity of contacts? the number of individuals of the same ethnicity?and the quality of contacts – welfare use among members of the ethnic group....

This paper examines the effects of unemployment insurance on escape rates from unemployment using data from the 1998 Displaced Worker Survey. Transitions from unemployment to employment are modeled using a flexible representation of the baseline hazard function and allowing for discrete changes...

In this paper we study the relationship between ethnic exclusion and earnings in Urban Peru. Our approach to the concept of ethnicity involves the usage of instruments in many of its several dimensions: mother tongue, parental background, religion, migration events and race. In order to...

Since the inequality of earnings in East Germany has approached West German levels in the late 1990s, the standard Roy model predicts that a positive selection bias of East-West migrants should disappear. Using a switching regression model and data from the IABemployment sample, we find however...