We use the novel anonymized Household Labour Force Survey (HLFS) microdata to analyze job finding rates and job separation rates in New Zealand. We find that individual characteristics, including age, gender, ethnicity and education have a significant impact on job finding and separation rates,...

Intro -- Contents -- I. INTRODUCTION -- II. DATA AND METHODOLOGY -- III. INTERNATIONAL COMPARISONS -- IV. RESULTS ACROSS CANADIAN PROVINCES -- V. EXTENDING THE CANADIAN MODEL -- VI. CONCLUSIONS -- REFERENCES -- Data Appendix.

The present paper reviews key issues in pension design and pension reform encountered all across the world. The paper heavily refers to the recent U.S. Social Security reform debate in general and to the Personal Retirement Accounts proposal in particular. A particular emphasis is put on...

This paper links the current sub-prime mortgage crisis to a decline in lending standards associated with the rapid expansion of this market. We show that lending standards declined more in areas that experienced larger credit booms and house price increases. We also find that the underlying...

In episodes of significant banking distress or perceived systemic risk to the financial system, policymakers have often opted for issuing blanket guarantees on bank liabilities to stop or avoid widespread bank runs. In theory, blanket guarantees can prevent bank runs if they are credible....

This paper links the current sub-prime mortgage crisis to a decline in lending standards associated with the rapid expansion of this market. We show that lending standards declined more in areas that experienced larger credit booms and house price increases. We also find that the underlying...

We present a framework that clarifies the financial role of the IMF, the rationale for conditionality, and the conditions under which IMF-induced moral hazard can arise. In the model, traditional conditionality commits country authorities to undertake crisis resolution efforts, facilitating the...

Intro -- Contents -- I. INTRODUCTION -- II. MORAL HAZARD AND SOVEREIGN INSURANCE -- III. BASIC MODEL STRUCTURE AND THE ROLE OF INSURANCE -- IV. AN ALTRUISTIC INSURER -- V. DEFAULT BY THE COUNTRY -- VI. CONCLUSIONS -- VII. DERIVATION OF THE RESULTS -- REFERENCES.

Intro -- Contents -- I. INTRODUCTION -- II. A MODEL OF GLOBALIZATION HAZARD AND PRICE GUARANTEES -- III. CHARACTERIZING THE GLOBALIZATION HAZARD-MORAL HAZARD TRADEOFF -- IV. QUANTITATIVE ANALYSIS -- V. NORMATIVE IMPLICATIONS AND SENSITIVITY ANALYSIS -- VI. CONCLUSIONS -- REFERENCES.

International financial integration has greatly increased the scope for changes in a country's net foreign asset position through the valuation channel, namely capital gains and losses on external assets and liabilities. We examine this valuation channel in a dynamic equilibrium portfolio model...