Stationary job search theory is used as a starting point for an empirical analysis of search durations. Data have been derived from the Dutch Socio-economic Panel and cover the period 1985-87. They are particularly interesting since the reservation wage and the conditional expected wage are...

In a single-equation error correction model, two alternative formulations of a linear hypothesis on the long-run parameters and associated Wald test statistics are shown to arise from the covariance matrix estimator. A choice between the statistics is based on invariance properties and on lack...

In van Ours and Ridder (1992), the authors showed that employers use a nonsequential search strategy when filling job vacancies. In this paper, they explicitly decompose a vacancy duration into an applicant period and a selection period. The authors formulate a simple theory for the...

This paper analyzes Danish firms' demand for skilled and unskilled labor. The main focus is on the degree of long-run substitutability and the paper, therefore, applies the cointegration method. The paper finds that there is a high degree of substitutability between the two types of labor....

The redistributive potential of state intervention is limited by the ability of individuals to contract-out of public provision. This issue is examined in the context of the UK pension scheme, using evidence for a cohort of men drawn from a sample of over 30,000 simulated individual lifetime...