type="main" xml:lang="en" <p>This paper evaluates the effects of a labor market reform in Spain that removed restrictions on fixed-term or temporary contracts. Our empirical results are based on longitudinal firm-level data that cover observations before and after the reform. We posit and estimate...</p>

In this paper, the authors present estimates of Tobin's Q for a panel of Spanish firms over the period 1983-87 and test the Q theory of investment. The results are threefold. First, Q is significant in the investment equation but a variable proxying for liquidity constraints is also significant....

The authors discuss the estimation of linear panel-data models with sequential moment restrictions using symmetrically normalized generalized method of moments (SNM) estimators and limited information maximum likelihood (LIML) analogues. These estimators are asymptotically equivalent to standard...

This paper proposes a procedure for the estimation of discrete Markov decision models and studies its statistical and computational properties. Our method is similar to Rust's Nested Fixed-Point algorithm (NFXP), but the order of the two nested algorithms is swapped. First, we prove that this...