We shed light on computational challenges when fitting the Nelson-Siegel, Bliss and Svensson parsimonious yield curve models to observed US Treasury securities with maturities up to 30 years. As model parameters have a specific financial interpretation, the stability of their estimated values...

This paper investigates the dynamics of immigrants' employment assimilation in comparison with the standard static assimilation model. When the effect of past employment experience on current employment possibilities differs between immigrants and natives, then the static assimilation model...

This paper investigates the dynamics of immigrants' employment assimilation in comparison with the standard static assimilation model. When the effect of past employment experience on current employment possibilities differs between immigrants and natives, then the static assimilation model...

This paper develops a model for dynamic binary choice panel data that allows for unobserved heterogeneity to be arbitrarily correlated with covariates. The model is of the exponential type. We derive moment conditions that enable us to eliminate the unobserved heterogeneity term and at the same...

This paper develops a model for dynamic binary choice panel data that allows for unobserved heterogeneity to be arbitrarily correlated with covariates. The model is of the exponential type. We derive moment conditions that enable us to eliminate the unobserved heterogeneity term and at the same...