This paper starts from the definition that "structural unemployment occurs when workers are unable to fill available jobs because they lack the skills, do not live where jobs are available, or are unwilling to work at the wage rate offered in the market." This implies that the number of...

Canadians are increasingly concerned about permanent layoffs since many feel job instability has increased in the 1990s. This paper uses a new longitudinal data source on worker separations to address three issues. First, what are the underlying causes of most permanent layoffs? Second, has...

This paper argues that interindustry labor mobility and interregional migration are simultaneously determined processes. It estimates a bivariate probit model of migration and mobility and concludes that the interindustry mobility of labor is dominated by the availability of employment hours and...

In this paper we examine the effect of technological change on the relative demand for skilled workers across Canadian industries. We find that skill upgrading at the aggregate level is less evident in Canada than in the United States and other industrialized economies over the 1981-94 period....

Purpose – This paper aims to extend the Fama and French (FF) three‐factor model in studying time‐varying risk premiums of Sector Select Exchange Traded Funds (ETFs) under a Markov regime‐switching framework. Design/methodology/approach – First, the original FF model is augmented to...

This paper examines the risk of value investing from the point of view of a myopic loss-averse investor holding a diversified portfolio and relying on infrequent portfolio rebalancing. This closely resembles purchasing a large portfolio, such as those created by BARRA, and following a...