This study examines the variation in the premium implicit in the yield curve of 12-month Treasury Bills during the period 1992–2002. This premium is measured using a number of econometric methods, one of which allows for the estimated premium to react to uncertainty as measured by the variance...

We propose a simple methodology to estimate the short-term natural rate of interest (NRI) in small open economies. Following Clarida et al.(2002), the NRI depends on the expected growth of (1) domestic potential output and (2) output abroad. We use observable expectations within an estimated...

We create a longitudinal data set by matching immigrants in Israel's censuses for 1983 and 1995. These panel data reject the Immigrant Assimilation Hypothesis (IAH), which predicts that immigrants with shorter durations in 1983 should have experienced faster earnings growth between 1983 and...