Using an administrative data set containing daily information on individual workers' employment histories, we investigate how workers' labour market transitions are affected by international out- sourcing. In order to do so, we estimate hazard rate models for match separations, as well as for...

Pricing kernels implicit in option prices play a key role in assessing the risk aversion over equity returns. We deal with nonparametric estimation of the pricing kernel (Empirical Pricing Kernel) given by the ratio of the risk-neutral density estimator and the subjective density estimator. The...