Life-cycle patterns in male/female differences in job search

We investigate whether women search longer for a job than men and whether these differences change over the life cycle. Our empirical analysis exploits German register data on highly attached displaced workers. We apply duration models to analyze gender differences in job search taking into account observed and unobserved worker heterogeneity and censoring. Simple survival functions show that displaced women take longer to find a new job than comparable men. Disaggregation by age groups reveals that these differences are driven by differential behavior of women in their prime-childbearing years. There is no significant difference in job search duration among the very young and older workers. These differential outcomes remain even after we control for differences in human capital and when unobserved heterogeneity is incorporated into the model.     

Sovereign credit spreads and the composition of the government budget

This paper investigates the relationship between sovereign credit spreads and the composition of the government budget. The key result of this paper is that governments that invest more and spend less on consumption have significantly lower sovereign credit spreads. This finding is in accordance with the endogenous growth theory, which predicts a positive impact of government investment and a negative impact of government consumption on the long-term growth rate. Finally, a broader tax base significantly reduces sovereign credit spreads. A possible explanation may be that governments with more tax receipts are less likely to have liquidity problems to finance their debt charges.     

Can retailers get higher prices for “end-of-life” inventory through online auctions?

Manufacturers and retailers are using online auctions to liquidate excess inventory. Using a field study of 11,879 online auctions, this paper builds upon theories of competitive processes to relate four key seller-controlled variables (starting price, day of close, auction length, and brand) to outcomes of online auction for apparel goods. Results suggest that to obtain a higher percentage of the original retail price, retailers should start with a lower price and feature national brands. These and other findings are discussed and a number of future research topics are offered.     

Health care rationing: the Oregon experiment

Oregon Medicaid reforms, passed by the state legislature in 1989, examined in light of Oregon's recent history of attempts to grapple continually rising health care costs.     

The Right Road to Monetary Union

How should European monetary coordination develop? John Chown and Geoffrey Wood argue that the European central banks should be forced to compete in providing the best monetary services.     

Governments, Firms, and National Wealth: A New Pulp and Paper Industry in Postwar New Zealand

The state played an important role as political and economicmanager in postwar New Zealand. By fostering manufacturing,governments aimed to provide paid, productive employment, conserveforeign exchange, and support a welfare state. The history ofpulp and papermaking using state-planted pine forests is a goodexample of a government-business joint venture to create a newexport industry and new national wealth. Governments of bothmajor political parties cooperated in capital formation, landuse, hydroelectricity, roads, railroads, a modern port, andtown construction. This longterm state commitment helped propelthe industry toward largescale vertical integration so thatit could achieve economies of scale and scope and compete inworld markets.