In this paper we analyse the credit rating transitions of banks in Europe, the United States and Japan by using a competing risks model. We have distinguished two types of rating transitions: upgrading and downgrading. We have used some bank characteristics, like country of domicile, type of...

This paper examines the regime changes in the Exchange Rate Mechanism (ERM) of the European Monetary System (EMS), applying the duration model approach to weekly data of eight currencies participating in the ERM, covering the complete EMS history. When using the non-parametric (univariate)...

Recent evaluations of active labor market policies are not very optimistic about their effectiveness to bring unemployed back to work. An important reason is that unemployed get locked-in, that is they reduce their effort to find a regular job. This paper uses an administrative dataset from the...

In January 2003, the unemployment benefits in Finland were increased for workers with long employment histories. The average benefit increase was 15% for the first 150 days of the unemployment spell. At the same time severance pay system was abolished. In this paper we evaluate the effect of...

<b>RESUMEN</b><br> <br> El principal objetivo es el análisis de las medidas que las diferentes administraciones pusieron en marcha para reducir las altas tasas de desempleo en la población andaluza afectada por la paralización de la actividad pesquera como consecuencia de la finalización del Acuerdo de...

This paper starts from the hypothesis that an effective measurement of the area stability and in the labour market cannot be based only on a an indicator of labour mobility (number of job to job transitions) but requires to take into consideration the actual amount of time worked by each...

In this paper we present an empirical structural job search model with endogenously determined search intensity. The model describes both the behaviour of unemployed job searchers and on-the-job search. We use data on various indicators (or search channels) for the intensity of search, like the...