Using data from the RAND American Life Panel, I investigate differences in households' investments in foreign assets with special emphasis on financial literacy. The results indicate that American households overweigh their portfolio with domestic assets and that financially literate households...

On-the-job search is increasingly recognized as an important potential driver of labor market dynamics over the business cycle. Using the UK Labor Force Survey, we find robust empirical evidence that on-the-job search is countercyclical, and that the cyclical fluctuations have important...