In this paper we study the economic determinants of the joint retirement process of married couples. We propose a tractable dynamic discrete choice model for retirement decisions which allows for non-trivial saving behaviour. We estimate the model on a 1\% sample of Danish couples of potential...

The estimation of models involving discrete mixtures is a common practice in econometrics, for example to account for unobserved heterogeneity. However, the literature is relatively uninformative about the measurement of the precision of the parameters. This note provides an analytical...

This paper analyses the behaviour of TV gameshow contestants to estimate risk aversion. We are able to show that the gameshow participants are broadly representative of the population as a whole. The gameshow has a number of features that makes it well suited for our analysis: the format is...

In this note we study the implications on a bivariate normal Roy Model of two sets of monotonicity hypotheses proposed recently by Manski and Pepper (2000). In that simple context, we show that these hypotheses imply strong restrictions on the correlations structure between the decision and the...

Changes in financial policy are expected to result in the greater availability of credit as financial controls are relaxed and banking competition is increased. This ‘financial deepening’ should show up in ahigher consumption expenditure in areas where credit is often required, such as...

This paper reports on available bibliometric evidence on the performance of UK research in economics. It examines some standard and non-standard sources of bibliometric evidence and in particular evidence from the ISI and EconLit databases and the Repository of Papers in Economics (RePEc). It...

This paper establishes a theoretical framework to characterise the optimal behaviour of individuals who receive income periodically but make consumption decisions on a more frequent basis. The model incorporates price uncertainty and imperfect credit markets. The simulated numerical solution to...

We study the empirical relationship between the hiring rate, separation rate and starting wages. A practical empirical model is set up and estimated on Danish matched employer-employee longitudinal data for the period 1980--1995. We find (1) firm heterogeneity is important in all dimensions of...

This paper presents the partial analytical solution to a model of periodic consumption that incorporates imperfect capital markets and uncertainty. Our model assumes that consumption decisions occur more frequently than income receipts. We show that the week-specific consumption functions can be...