This paper analyzes the effect of unemployment insurance sanctions on the transition rate from unemployment to employment. Sanctions are punitive benefits reductions that are supposed to make recipients comply with cer­tain minimum requirements concerning search behavior. We use a unique set of...

In the past decades several features of U.S. unemployment dynamics have been investigated empirically. The original focus of research was on the duration of unemployment. In later studies the cyclicality of incidence and duration, compositional effects and duration dependence of the exit rate...

This paper provides a new strategic underpinning of the axiomatic Nash bargaining solution that is widely applied in search-matching models of the labor market. This 'intertemporal surplus sharing' (ISS) solution is usually defended as the unique subgame perfect equilibrium of a strategic...

This paper studies the event-history approach to microeconometric programevaluation. We present a mixed semi-Markov event-history model, discussits application to program evaluation, and analyze its empirical content.The results of this paper provide fundamental insights in what can be...

In the past decades several features of U.S. unemployment dynamics have been investigated empirically. The original focus of research was on the duration of unemployment. In later studies the cyclicality of incidence and duration, compositional effects and duration dependence of the exit rate...

This paper extends the static analysis of oligopoly structure into an infinite-horizon setting with sunk costs and demand uncertainty. The observation that exit rates decline with firm age motivates the assumption of last-in first-out dynamics: An entrant expects to produce no longer than any...

In a large class of hazard models with proportional unobserved heterogeneity, the distribution of the heterogeneity among survivors converges to a gamma distribution. This convergence is often rapid. We derive this result as a general result for exponential mixtures and explore its implications...

This paper considers the effects of raising the cost of entry for a potential competitor on infinite-horizon Markov-perfect duopoly dynamics with ongoing demand uncertainty. All entrants serving the model industry incur sunk costs, and exit avoids future fixed costs. We focus on the unique...

This paper analyzes ex ante and ex post moral hazard in car insurance using Dutch longitudinal micro data. We specify a dynamic model of an insuree's dynamic risk (ex ante moral hazard) and claim (ex post moral hazard) choices. We use this model to characterize the heterogeneous dynamic changes...

Ridder (1990) provides an identification result for the Generalized Accelerated Failure-Time (GAFT) model. We point out that Ridder's proof of this result is incomplete, and provide an amended proof with an additional necessary and sufficient condition that requires that a function varies...