type="main" xml:lang="en" <title type="main">Abstract</title> <p>Building on non-stationary search theory (<link href="#b35">Mortensen, 1977</link>; <link href="#b45">Van den Berg, 1990</link>), this article estimates the effects of UB on unemployment durations and future earnings using unique administrative data in Germany. We apply censored Box–Cox quantile regression....</p>

type="main" xml:lang="en" <title type="main">Abstract</title> <p>This paper sheds light on interdependencies in multinational activity that are brought about by (horizontal) trade in final goods and (vertical) trade in intermediate goods (within and between host countries). We use a panel data set of US foreign affiliate...</p>

type="main" xml:lang="en" <title type="main">Abstract</title> <p>We use instrumental variable methods to investigate whether the impact of parental smoking habits on their children's smoking decisions is a causal one. We find suggestive evidence of same-sex role models in two-parent households: mothers play a more crucial...</p>

type="main" xml:lang="en" <title type="main">Abstract</title> <p>Although economic theory assumes that risk is of central importance in financial decision making, it is difficult to measure the uncertainty faced by investors. Commonly used empirical proxies for risk (such as the moving standard deviation of the returns on an...</p>

type="main" xml:lang="en" <title type="main">Abstract</title> <p>We specify a structural asymmetric vector error-correction model to identify and estimate the demand and supply functions in hourly day-ahead wholesale electricity markets. In doing so, we provide, inter alia, new insights into a well-established but...</p>

This article investigates the extent to which exam performance at the end of compulsory education has been affected by three major education reforms: the introduction of a quasi-market following the Education Reform Act (1988); the specialist schools initiative introduced in 1994; and the Excellence...

We show how differences in aggregate human development outcomes over time and space can be additively decomposed into a pure mean income (growth) component, a component attributed to differences in the distribution of income, and components attributed to 'non-income' factors and differences in...