Providing income support to unemployed education-leavers reduces the returns to investments in education because it makes the consequences of unemployment less severe. We exploit in a difference-in-differences approach a two-part policy reform in Belgium to study whether conditioning the...

Providing income support to unemployed education-leavers reduces the returns to investments in education because it makes the consequences of unemployment less severe. We evaluate a two-part policy reform in Belgium to study whether conditioning the prospective entitlement to unemployment...

Using costly-process models of war with democratic citizens and soldiers, this article explores two contrasting claims on the negative association between the probability of democratic victory and the duration of war. As a claim holds, democracies are not militarily disadvantageous in long wars....

The present paper examines the reservation wages reported by a largesample of unemployed individuals in the United States in May 1976. The majorityof unemployedindividuals report reservation wages that are at least as highas the wage they were paid on their last job. Approximately one-fourth of...

Big G typically refers to aggregate government spending on a homogeneous good. In this paper, we open up this construct by analyzing the entire universe of procurement contracts of the US government and establish five facts. First, government spending is granular, that is, it is concentrated in...

This study identifies the relative importance of certain factors in predicting firm–bank relationship termination and investigates the impact of COVID-19-induced macroeconomic shocks on the termination. We perform a nonparametric random survival forests analysis of firm–bank relationship...

In 2017, a Finnish policy reform intensified the Public Employment Services’ (PES) practice of periodically interviewing unemployed jobseekers. This study used high-quality administrative data to analyse the effect of interviews on unemployment duration. We used the difference-in-differences...

We study the effect of rent stabilization in NYC on tenant unemployment from 2002 to 2017. We show rent stabilization increases tenants’ unemployment by six percentage points, more than double the average unemployment rate during the study period. Moreover, the effect is concentrated in...

The Covid-19 pandemic has led to a surge in demand for oleochemicals, due to the increased demand for cleaning and disinfectants products. Since Malaysia is one of the world’s largest producers of palm oil, the demand for oleochemicals will be a key driver to support the Malaysian palm oil...

We investigate the effects of individuals’ name length on their labor market performance using Chinese data. The results indicate that the longer a person’s name, the higher their probability of employment but the lower their income. The optimal fullname (firstname) length with respect to...

Due to severe global competition, the project management process for one-of-a-kind production must aim for better risk management and higher efficiency. Despite being critical in order to forecast the duration of logistics processes, intra-enterprise knowledge, historical data from past projects...

It is well known that German and Spanish labour markets are quite different from a macro point of view. In this paper, we look at these markets through the lenses of individual unstable spells. These include all forms of atypical employment (such as temporary contracts and mini-jobs) as well as...

Firms often receive multiple acceptable applications for vacancies, requiring a choice among candidates. This paper contrasts equilibria when firms select workers at random and when firms select the worker with the shortest spell of unemployment, called ranking. With the filling of vacancies...

I take a control function approach to overcome the difficulty raised by the simultaneity issue in the estimation of the impact of unemployment duration on re-employment wages. I consider three alternative instruments, which are based on the rules of the potential duration of unemployment...

This paper studies the mismatch between asset managers' performance window and the time average of their benchmark dividend payouts, commonly referred to as duration. Our asset pricing equilibrium mechanism provides the first plausible theoretical foundation for the recent empirical findings...

In this paper, a theory of the natural or equilibrium rate of unemployment is built around a theory of the duration of employment. Evidence is presented that most unemployed workers became unemployed because their previous jobs came to an end; only a minority are on temporary layoff or have just...

I investigate why workers' probability of leaving unemployment has fallen since 1900 by estimating the impact of a large government transfer, the first major pension program in the United States, covering Union Army veterans of the Civil War. The pension, because of the program's rules, was a...

This paper shows that the prospect of recall to previous employer is important for a significant number of the unemployed in the United States and that taking into account the possibility of recalls has important implications for the study of unemployment spell durations. A job search model that...

The stylized fact that seniority and earnings in a cross-section are positively related, even after controlling for total labor market experience, has served as the basis for theoretical analyses of implicit labor contracts suggesting that workers post bonds in the form of deferred compensation...

Over the last four decades, banking crises around the globe have become longer. This, along with the unprecedented government responses to the Great Recession of 2007/08, has led to a critical question of whether political decisions were somehow to blame for these more prolonged crises. Despite...

In this paper, I examine whether longer duration of executive compensation influences investment decisions. I exploit a regulation designed to foster long-term orientation in executive compensation as an exogenous trigger to lengthen executives' incentive duration. I find that treated firms...

This paper estimates effects of increases in incarceration length on employment and earnings prospects of individuals after their release from prison. I utilize a variety of research designs including controlling for observable factors and using instrumental variables for incarceration length...

This paper builds on the Empirical Monte Carlo simulation approach developed by Huber et al. (2013) to study the estimation of Timing-of-Events (ToE) models. We exploit rich Swedish data of unemployed job-seekers with information on participation in a training program to simulate placebo...

Which former coworkers help displaced workers find jobs? We answer this question by studying occupational similarity in job finding networks. Using matched employer-employee data from Hungary, this paper relates the unemployment duration of displaced workers to the employment rate of their...

This paper investigates unemployment persistence in the 27 EU member states by applying fractional integration methods to quarterly data (both seasonally adjusted and unadjusted) from 2000q1 to 2020q4. The obtained evidence points to high levels of persistence in all cases. With seasonally...

This paper examines the role of illiquidity and duration factor in understanding the momentum profit in the Korean stock market. We find that the foreigner/institutional illiquidity factor explains the momentum effect. In addition, this paper finds that duration factor defined as the difference...

Despite its importance for development, long-term finance is particularly scarce in countries with lower income levels. This not only results in unrealised growth and employment creation at the national level and at the level of individual firms, but also undermines a broader shift towards...

We ran a large randomized controlled experiment among about 150,000 recipients of unemployment benefits insurance in France in order to evaluate the impact of part-time unemployment benefits. We took advantage of the lack of knowledge of job seekers regarding this program and sent emails...

Many countries have a two-tiered unemployment compensation system which provides earnings-related unemployment insurance for a limited period of time and less generous unemployment assistance thereafter. This study evaluates the effects of a reform in Finland that increased the level of...

Active labour market policy is connected with the necessity to account for the funds allocated for it. The conducted analysis forms a part of research on the evaluation of the effects of changes introduced by legal regulations. The aim of this research is to assess the impact of changes to the...

Several reasons are offered why workers will receive larger compensating wage differentials for increases in the duration of wage losses than for increases in the probability of loss that produce the same expected loss. A formal model of occupational choice is developed that shows the extent to...

This paper employs survival analysis to study the duration of US imports. We find that the median duration of exporting a product to the US is very short, on the order to two to four years. Our results also indicate that there is negative duration dependence meaning that if a country is able to...

This paper accounts for the observed increase in unemployment duration relative to the unemployment rate in the U.S. over the past thirty years, typified by the record low level of short-term unemployment. We show that part of the increase is due to changes in how duration is measured, a...