We estimate a dynamic discrete choice model of Registered Nurses’ labor supply with random terms. A distinguished feature of our model is that random terms are correlated over time and jobs (habit persistence). Past options and not only the past optimal choices matter for the current choices....

Using recent advances in panel data estimation techniques, we .find that an appreciation of the US dollar exchange rate leads to a significant decline in oil demand for a sample of 65 oil-importing countries. The estimated effect turns out to be considerably larger than the impact of a shift in...

Housing tenure is a key determinant of geographical mobility. We estimate several probit models to explain the probability that households move, using Belgian longitudinal PSBH and EU-SILC datasets which together cover the period 1994-2009. We confirm the general conclusion in previous...

This paper investigates spatial variations in product prices using an exhaustive micro dataset on fish transactions. The data record all transactions between vessels and wholesalers that occur on local fish markets in France during the year 2007. Spatial disparities in fish prices are sizable,...

The paper analyses the global spillovers of the Federal Reserve’s unconventional monetary policy measures since 2007. First, we find that Fed measures in the early phase of the crisis (QE1), but not since 2010 (QE2), were highly effective in lowering sovereign yields and raising equity markets...

Using Bayesian Markov chain clustering analysis we investigate career paths of Austrian women after their first birth. This data-driven method allows characterizing long-term career paths of mothers over up to 19 years by transitions between parental leave, non-employment and different forms of...

Although apprenticeship training has been praised for its effectiveness in smoothing the school-to-work transition of non-college bound students, most studies rely on cross country or cross track comparisons. This study compares apprenticeship training students with non-apprentices within...

This paper explores the robustness of behavioural equilibrium exchange rate (BEER) models, focusing on a panel specification with Swiss franc real bilateral rates as dependent variables. We use Bayesian model averaging to illustrate model uncertainty, and employ real exchange rates computed from...