Ekonomická a finančná matematika
http://www.iam.fmph.uniba.sk/studium/efm/forum/

Bratislava Economic Seminar 22.6.2015
http://www.iam.fmph.uniba.sk/studium/efm/forum/viewtopic.php?f=30&t=724
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Autor:  chladna [ Uto Jún 02, 2015 8:41 am ]
Predmet príspevku:  Bratislava Economic Seminar 22.6.2015

Vážení kolegovia,

pozývame Vás na Bratislava Economic Seminar, ktorý je spoločným projektom CEF FMFI UK,
Národnej banky Slovenska a Katedry hospodárskej politky Národohospodárskej fakulty EUBA. Oznámenie o podujatí je v prílohe.

Seminár sa uskutoční uskutoční v pondelok 22. júna 2015 o 15:00 v posluchárni C, na Fakulte matematiky, fyziky a informatiky UK, Mlynská dolina, Bratislava a jeho náplňou bude prednáška:

Katarína Borovičková
Department of Economics, New York University

Decomposing Duration Dependence in a Stopping Time Model

Abstrakt:
We develop a simple dynamic model of a worker's transitions between employment and non-employment. Our model implies that a worker finds a job at an optimal stopping time, when a Brownian motion with drift hits a barrier. The model has structural duration dependence in the job finding rate, in the sense that the hazard rate of finding a job changes during a non-employment spell for a given worker. In addition, we allow for arbitrary parameter heterogeneity across workers, so dynamic selection also affects the average job finding rate at different durations. We show that our model has testable implications if we observe at least two completed non-employment spells for each worker. Moreover, we can nonparametrically identify the distribution of a subset of our model's parameters using data on the duration of repeated non-employment spells. We use a large panel of social security data for Austrian workers to test and estimate the model. Our model is not rejected by the data, while a mixed proportional hazard model with arbitrary heterogeneity and an arbitrary baseline hazard rate is rejected using the same data set. Our parameter estimates indicate that dynamic selection is important for the decline in the job finding rate at short durations, while structural duration dependence drives most of the decline in the job finding rate at long durations.


Tešíme sa na Vašu účasť,

CEF.

Prílohy:
BratislavaEconomicSeminar-invitation-22jun2015-Borovickova.pdf [159.53 KiB]
615 krát

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