Using panel data on micro-enterprises from Peru, we find evidence suggesting that firm dynamics explain 'formality', i.e. the decision to participate in societal institutions. In particular, we find that participation increases with firm size and age, implying transition of firms to formality as...

This paper investigates the incremental information content of earnings and other macroeconomic variables for share prices within the ‘prices leading earnings’ framework. We find evidence supporting the phenomenon of ‘prices leading earnings’ for the Kuwait Stock Exchange (KSE) after...

One of the important aspects in the design of social protection is coverage. In Peru, as in most Latin American countries, social security participation is compulsory only for workers in the formal sector. There is a large sector of the population for which participation is voluntary. This paper...

Applying bootstrapped quantile regression to the Russian Longitudinal Monitoring Survey (RLMS) data, we examine the channels through which individuals experience and seek to cope with changes in consumption. We find that married individuals living in small households, with educated heads in...

Applying quantile regression techniques to Russian data we investigate the channels through which individuals experience changes in their well being. We find that married individuals in non-rural households with university-educated heads are less vulnerable to severe welfare shocks. For the most...

type="main" <p>The <fr>Railways Act 1993</fr> privatised the British railways industry resulting in the separation of ownership and control of the railway infrastructure (track, signals and stations) from that of passenger train operations. The Great North Eastern Railway (GNER), a major train operator, was...</p>

Using the RLMS, this paper re-examines the gender wage gap in Russia from 1994 to 1998. We find that the average gender wage gap was fairly stable during 1994-1996 but that it became wider following the financial crisis of 1998. In particular, low-income female employees were hardest hit by the...