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We investigate the e?ect of studying abroad on international labor market mobility later in life for German university graduates. As a source of identifying variation, we exploit the introduction and expansion of the ERASMUS student exchange program, ...

The aim of the paper is to explore the link between agent's heterogeneity and indeterminacy in a general equilibrium economy. The framework is provided by the two-sector growth model with technological externalities of Boldrin and Rustichini (1994) ...

No abstract. ...

This paper develops a framework to estimate the probability of default (PD) implied in listed stock options. The underlying option pricing model measures PD as the intensity of a jump diffusion process, in which the underlying stock price jumps to ...

Policy towards asylum seekers has been a controversial topic for more than a decade. Rising numbers of asylum applications have been met with ever-tougher policies to deter them. Following a period of policy harmonisation, the EU has reached a ...

This paper presents the conditions under which a causal interpretation can be given to the association between childhood parental employment and subsequent education of children. In a model in which parental preferences are separable in own ...

Most labor scarce overseas countries moved decisively to restrict their immigration during the first third of the 20th century. This autarchic retreat from unrestricted and even publicly-subsidized immigration in the first global century before ...

The seasonal production of fruit and seeds resembles opening a feeding station, such as a restaurant agents/ customers will arrive at a certain rate and pick fruit (get served) at a certain rate following some appropriate processes. Therefore, ...

The complexity of the financial markets, represents a big challenge to the specialist in the area. The traditional way of coping with the analysis of such systems is the use of analytical models. However, the analytical models present some ...