Blundell, Richard; Magnac, Thierry; Meghir, Costas - In: Journal of Business & Economic Statistics 15 (1997) 2, pp. 153-64
A model is developed that allows for a lay-off rate and a job arrival rate in the intertemporal choice of consumption and labor market state. The identification of such a model is established without recourse to dynamic programming solutions and the minimum date requirements for estimation are...