We provide evidence on the impact of globalization on labor market outcomes analyzing pay differences between foreign-acquired and domestically-owned firms. For this purpose, we use firm level data from 16 European countries over the time period 1999 to 2006. Applying propensity score matching...

This paper deals with the analysis of price-setting in U.S. manufacturing industries. Recent studies have heavily criticized the ability of the New Keynesian Phillips curve (NKPC) to fit aggregate inflation [see, e.g., Rudd and Whelan, 2006, Can Rational Expectations Sticky-Price Models Explain...

In this paper, we re-examine Mendelson’s model for the equilibrium price of a double-blind Dutch auction with Poisson-distributed stochastic demand and supply. We present a number of new results. We focus on the various ways that demand and supply cross. We identify four different categories...

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The purpose of this paper is to investigate the dynamics and statistics of style rotation based on the Barberis-Shleifer model of style switching. Investors in stocks regard the forecasting of style-relative performance, especially style rotation, as highly desirable but difficult to achieve in...

This paper investigates the form and magnitude of a variety of state dependence effects for prime-aged men in Germany. I differentiate between three labor market states: employment, unemployment, and out of labor force. Results indicate that all forms of state dependence are present in the data,...

Not only the colonial period, but also the pre-colonial times might have influenced later development patterns. In this study we assess a potential "pre-colonial legacy" hypothesis for the case of the Andean region. In order to analyze the hypothesis, we study the human capital of Inca Indios,...