This paper examines how the unemployment benefit (UB) affects the intensity or search effort of the unemployed, which is measured by the workin conditions of a new job resultin from search behavior, controllin for the endo eneity of the duration of unemployment. Estimation results show that the...

This paper investigates regression quantiles (RQ) for unstable autoregressive models. The unifoem Bahadur representation of the RQ process is obtained. The joint asymptotic distribution of the RQ process is derived in a unified manner for all types of characteristic roots on or outside the unit...

Using a dynamic optimization model with status preference this paper shows that depending on the object of people's status preference an economy exhibits a completely opposite performance; permanent growth or persistent stagnation. If the object is a producible asset (viz. real capital), new...

We examine the current account effect of a terms-of-trade deterioration for a small country model, incorporating weakly nonseparable preference a la Shi (1994) under endogenous time preference.