This paper provides the first step of a planned econometric analysis of the factors influencing the remigration decisions of Turkish guest-workers in the FRG back to their home-land: the specification of a decisiontheoretically founded sequential discrete-choice model. At this it is presupposed...

The paper deals with existence and properties of temporary migration equilibria with an overlapping generations structure in a two-country-world. Individuals are living for two periods. As a young individual they are supposed to be incompletely informed about wage rates and the quality of life...

Starting from a sequential decision of international migration under incomplete information (see (1)) a Markov process for the number of in- and out-migrants from country j to country o is modeled. The parameters of this process involve the degree of uncertainty of the migrants about the quality...

Do incentives and policy choices of public officials depend on whether they are appointed by an elected body or directly elected by voters? I investigate this question using the example of state grants for highly visible municipal investment projects. To attract these grants, mayors must prepare...

We investigate non-linearities in the stock return - trading volume relationship by using daily data for 16 European countries in an asymmetric vector autoregressive model. In this framework, we test for asymmetries and analyze the dynamic relationship using a simulation based procedure for...

This paper explores the role of public debt and fiscal deficits on factor productivity in an economy with credit market frictions and heterogeneous firms. When credit market conditions are sufficiently weak, low interest rates permit the government to run Ponzi schemes so that permanent primary...

In many groups heterogeneous incentives induce people to make unequal contributions to a common pool. This paper studies whether people consider the random assignment of such unequal incentives as unequal opportunities and demand more egalitarian distributions of the pool. The aggregate...

We develop and analyze a labor market model in which heterogeneous firms operate under decreasing returns and compete for labor by posting long-term contracts. Firms achieve faster growth by offering higher lifetime wages, which allows them to fill vacancies with higher probability, consistent...