Microeconomic flexibility, by facilitating the process of creative-destruction, is at the core of economic growth in modern market economies. The main reason for why this process is not infinitely fast is the presence of adjustment costs, some of them technological, others institutional. Chief...

Using information contained in a nationally representative, longitudinal survey of Russian citizens, this research analyzes the determinants of unemployment duration during the early stages of economic transition. A competing-risks, discrete-time waiting model, augmented to incorporate...