A pervasive concern with the use of self-reported health measures in behavioural models is that individuals tend to exaggerate the severity of health problems in order to rationalize their decisions regarding labour force participation, application for disability benefits, etc. We re-examine...

We specify and estimate retirement models for singles and married couples and estimate these on data from the Dutch Socio-Economic Panel. We perform some simulations and find strong effects of retirement options in determining the retirement behaviour within different household types. Model...

This paper illustrates that, under the null hypothesis of no cointegration, the correlation of p-values from a single-equation residual-based test (i.e., ADF or <UEQN LOC="INLINE" NOTAT="TEX">$\widehat{Z}_{\alpha}$</UEQN>) with a system-based test (trace or maximum eigenvalue) is very low even as the sample size gets large. With...</ueqn>

In this study the effects of various types of rehabilitation programmes on labour market outcomes are estimated. A main feature of this study is that it jointly evaluates multiple treatments by nonparametric matching estimators. The study is based on a large sample of persons in western Sweden...

This paper estimates a structural model of family retirement using US data from the Health and Retirement Study (HRS). It provides further insight into household retirement decision making and the reasons for interdependence in the retirement decisions of each spouse. Improvements in HRS data...

This paper presents new estimates of scale economies for US hospitals. We show that the common translog specification of hospital costs is a misspecification, and employ nonparametric, local linear estimation with both continuous and discrete covariates. A bootstrap method is used to provide...

A recent article (Tse, 1998) published in this journal analysed the conditional heteroscedasticity of the yen-dollar exchange rate based on the fractionally integrated asymmetric power ARCH model. In this paper, we present replication results using Tse's (1998) yen-dollar series. We also examine...

According to the life-cycle model, mortality risk will influence both retirement and the desire to annuitize wealth. We estimate the effect of subjective survival probabilities on retirement and on the claiming of Social Security benefits because delayed claiming is equivalent to the purchase of...

Productivity of blast furnaces in India is studied by disaggregating the production process and the utilization process. A dimension-reducing nonparametric approach-projection pursuit regression-is used. We find that productivity can be increased significantly by improving the quality of coal....