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on Labour Economics |
| By: | Alok Kumar (Department of Economics, University of Victoria); Herbert J. Schuetze (Department of Economics, University of Victoria) |
| Abstract: | We develop a model of self-employment in the search and matching frame-work of Mortensen and Pissarides. We integrate two strands of theoretical literature: models of self-employment and models of unemployment. Our model explains many empirical findings which are not explained by the existing models of self-employment. In our model, higher minimum wage and unemployment benefits have negative effect on self-employment. These results are supported by empirical evidence. In addition, in our model self-employed earn less, on average, than wage employed workers in equilibrium due to frictions in the labor market. Thus our model provides a novel explanation to one of the key puzzles identified in the empirical literature. We also find that a higher business tax and a lower wage tax reduce self-employment. |
| Keywords: | Self-employment, occupational choice, unemployment, search and matching, wage tax, business tax, minimum wage, unemployment benefits, job-creation |
| JEL: | J23 J58 J64 |
| Date: | 2007–10–05 |
| URL: | http://d.repec.org/n?u=RePEc:vic:vicddp:0704&r=lab |
| By: | Noritaka Kudoh (Department of Economics, Hokkaido University); Masaru Sasaki (Department of Economics, Osaka University) |
| Abstract: | This paper develops a dynamic model of the labor market in which the degree of substitution between employment and hours of work is determined as part of a search equilibrium. Each firm chooses the demand for working hours and the number of vacancies, and the hourly wage rate is determined by Nash bargaining. A firm increases the demand for hours as recruitment becomes more costly. Labor market tightness influences the composition of labor demand through its impact on the wage rate. Restricting working hours can expand employment, but doing so is not necessarily efficient. When there are two industries that differ in their equipment costs, workers employed by firms with higher equipment costs work longer and earn more. |
| Keywords: | employment, hours of work, search frictions. |
| JEL: | J21 J23 J31 J64 |
| Date: | 2007–10 |
| URL: | http://d.repec.org/n?u=RePEc:osk:wpaper:0735&r=lab |
| By: | Nathalie Havet (University of Lyon, Lyon, F-69003, France; CNRS, UMR 5824, GATE, Ecully, F-69130, France; ENS LSH, Lyon, F-69007, France ; Centre Leon Berard, Lyon, F-69003, France); Catherine Sofer (Université Paris1-Panthéon-Sorbonne, and Paris School of Economics) |
| Abstract: | The aim of this paper is to explain the growing wage differentials between men and women during their working careers. We provide a dynamic model of statistical discrimination, which integrates specific human capital decisions: on-the-job training investment and wages are endogenously determined. We reveal a small wage differential at the beginning of women’s career, followed by a larger wage differential; this is partly due to a lower level of human capital investment by women and partly because firms smooth training costs between different periods. |
| Keywords: | gender gaps, gender wage gap, specific human capital, statistical discrimination |
| JEL: | J16 J24 J31 J62 J71 |
| Date: | 2007–10 |
| URL: | http://d.repec.org/n?u=RePEc:gat:wpaper:0722&r=lab |
| By: | Dennis Görlich; Andries de Grip |
| Abstract: | This study investigates the relation between human capital depreciation during family-related career interruptions and occupational choice of women in the (West) German labour market. In contrast to other studies that do not explicitly focus on family-related career interruptions, we find that short-term human capital depreciation during these career interruptions is significantly lower in female occupations than in male occupations. This holds for both high- and low-skilled occupations. Our findings support the self-selection hypothesis with respect to occupational sex segregation, i.e., women might deliberately choose female occupations because of lower short-term wage penalties for family-related career interruptions. Moreover, we find that particularly men employed in high-skilled male occupations face large short-run as well as long run wage penalties when they have a family related career break. |
| Keywords: | skills obsolescence, occupational segregation, GSOEP, parental leave |
| JEL: | J24 J13 D13 |
| Date: | 2007–09 |
| URL: | http://d.repec.org/n?u=RePEc:kie:kieliw:1379&r=lab |
| By: | Ichino, Andrea; Schwerdt, Guido; Winter-Ebmer, Rudolf; Zweimüller, Josef |
| Abstract: | We use firm closure data from social security records for Austria 1978-1998 to investigate the effect of age on employment prospects. We rely on exact matching to compare workers displaced due to firm closure with similar non-displaced workers. We then use a difference-in-difference strategy to analyze employment and earnings of older relative to prime-age workers in the displacement and non-displacement groups. Results suggest that immediately after plant closure the old have lower re-employment probabilities as compared to prime-age workers but later they catch up. While among the young the employment prospects of the displaced remain persistently different from those of the non-displaced, among the old the effect of displacement fades away, and actually disappears even immediately after plant closure when the effect of tenure based severance payment is controlled for. Our evidence suggests that increasing the retirement age does not necessarily produce individuals who are “too old to work but too young to retire”. |
| Keywords: | Aging; Employability; Matching; Plant Closures |
| JEL: | J14 J65 |
| Date: | 2007–10 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:6510&r=lab |
| By: | Richard W P Holt |
| Abstract: | This paper focusses on the reallocation of labour resources in a New Keynesian environment with labour market search and endogenous separations. We show that introduction of variation in hours per worker alters the incentives for intertemporal substitution in a way that generates a more steeply downward sloping Beveridge curve and reduces the tendency to synchronise gross job flows. This also enables the New Keynesian model to capture the interaction of hours and employment at business cycle frequencies. We show that the impact of labour supply elasticity on the slope of the Beveridge curve and the correlation of gross job flows is determined primarily by variation in the response to monetary shocks. When hours variation is suppressed the comovement of job creation with job destruction and of unemployment with vacancies are strongly positive in response to monetary shocks. Whereas with variation in hours both measures of reallocation take on the correct negative sign. We also note that frictions in price adjustment make it possible to account a large part of the variation in unemployment observed in US data, despite the absence of wage rigidity or departures from the Hosios condition which have been proposed to resolve the unemployment variability puzzle identified by Shimer (2005). |
| Date: | 2007–10–04 |
| URL: | http://d.repec.org/n?u=RePEc:edn:esedps:172&r=lab |
| By: | Strawinski, Pawel |
| Abstract: | In the article private rate of return to higher education in the 1998-2004 period is considered. The model is based on comparative advantage theory and extended Mincerian wage equation. The extension is made to account for non-random decision to undertake studies at university level. The estimate of private rate of return in Poland is roughly 9.5%, and it is among the highest in Europe. In addition, the unexpected rise in rate of return is observed. This change has been linked to labour market transformation and Skill Bias Technological Change phenomenon. Also the influence of financing tertiary education is considered. The rate of return to higher education has risen and graduation has positively affected the obtained wages. |
| Keywords: | Return to education; private returns; skill biased technical change; sample selection |
| JEL: | I22 |
| Date: | 2007–08–15 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:5185&r=lab |
| By: | Luca Flabbi (Department of Economics, Georgetown University) |
| Abstract: | Earnings differentials between men and women have experienced a stable convergence during the 1980s, following a process started in the late 1970s. However, in the 1990s the convergence has almost stopped. The first objective of the paper is to evaluate if discrimination, defined as explicit prejudice, may have a role in explaining this slowdown in the converge. The second objective is to assess whether the prediction of a decrease in the proportion of prejudiced employers implied by the Becker's model of taste discrimination is taking place and if so at what speed. These objectives are achieved by developing and estimating a search model of the labor market with matching, bargaining, employer's prejudice and worker's participation decisions. The results show that the proportion of prejudiced employers is estimated to be decreasing at an increasing speed, going from about 69% in 1985 to about 32% in 2005. Therefore prejudice does not seem a relevant factor in explaining the slower convergence between male and female earnings in the 1990s. The results are consistent with the Becker's model of taste discrimination if one is willing to assume a very slow adjustment process. Classification-JEL Codes: C51; J7; J64 |
| Keywords: | gender differentials; discrimination; search models; maximum likelihood estimation; structural estimation |
| Date: | 2007–07–07 |
| URL: | http://d.repec.org/n?u=RePEc:geo:guwopa:gueconwpa~07-07-07&r=lab |
| By: | Edward P. Lazear; Paul Oyer |
| Abstract: | In this review of the personnel economics literature, we introduce key topics of personnel economics, focus on some relatively new findings that have emerged since prior reviews of some or all of the personnel economics literature, and suggest open questions in personnel economics where future research can make valuable contributions to the literature. We explore five aspects of the employment relationship - incentives, matching firms with workers, compensation, skill development, and the organization of work - reviewing the main theories, empirical tests of those theories, and the open questions in each area. |
| JEL: | J3 J41 M5 |
| Date: | 2007–10 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:13480&r=lab |
| By: | Noritaka Kudoh (Department of Economics, Hokkaido University); Masaru Sasaki (Department of Economics, Osaka University) |
| Abstract: | This paper studies firmsf job creation decisions in a labor market with search frictions. A simple labor market search model is developed in which a firm can search for a second employee while producing with a first worker. A firm expands employment even if the instantaneous payoff to a large firm is less than that of staying small--a firm has a precautionary motive to expand its size. In addition, this motive is enhanced by a greater market tightness. Because of this effect, firmsf decisions become interdependent--a firm creates a vacancy if it expects other firms to do the same, creating strategic complementarity among firms and thereby self-fulfilling multiple equilibria. |
| Keywords: | labor demand, firm size distribution. |
| JEL: | E24 J23 |
| Date: | 2007–10 |
| URL: | http://d.repec.org/n?u=RePEc:osk:wpaper:0734&r=lab |
| By: | Ariane Szafarz (Centre Emile Bernheim, Solvay Business School, Université Libre de Bruxelles, Brussels, and DULBEA, Université Libre de Bruxelles.) |
| Abstract: | This paper offers a new representation of discrimination on the job market based on the most recent findings in the socio-psychological academic literature about human behaviour. Put it simply, it is assumed that the agents prefer working with people like themselves. This "affinity" principle is modelled through a distance between an individual (the candidate for a job) and the staff of the firm. Contrary to the classical view according to which discrimination results from asymmetric information, this new model provides a rationale for the presence of discriminative attitudes on the job market even when full information is available on the skill levels of all candidates for a working position. |
| Keywords: | discrimination, affinity, skill |
| JEL: | J71 J70 |
| Date: | 2007–10 |
| URL: | http://d.repec.org/n?u=RePEc:sol:wpaper:07-021&r=lab |
| By: | Shubham Chaudhuri; John McLaren |
| Abstract: | We study a simple, tractable model of labor adjustment in a trade model that allows us to analyze the economy's dynamic response to trade liberalization. Since it is a neoclassical market-clearing model, we can use duality techniques to study the equilibrium, and despite its simplicity a rich variety of properties emerge. The model generates gross flows of labor across industries, even in the steady state; persistent wage differentials across industries; gradual adjustment to a liberalization; and anticipatory adjustment to a pre-announced liberalization. Pre-announcement makes liberalization less attractive to export-sector workers and more attractive to import-sector workers, eventually making workers unanimous either in favor of or in opposition to liberalization. Based on these results, we identify many pitfalls to conventional methods of empirical study of trade liberalization that are based on static models. |
| JEL: | F16 F23 J60 J7 |
| Date: | 2007–10 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:13464&r=lab |
| By: | Petri, Böckerman |
| Abstract: | This paper analyses polytechnic graduate placement in Finnish manufacturing. The paper uses a register-based data source covering white-collar manufacturing workers over the period 1995-2004. Taken together, the results show that wages and job classification are higher for polytechnic graduates, once other covariates are controlled for. Despite this, almost 20% of graduates from polytechnics have been forced to take a position in manufacturing in which they can be considered to be ‘overeducated’. Interestingly, Bachelors of Business Administration are not as well placed as Bachelors of Engineering. |
| Keywords: | Polytechnic education reform; placement; job quality |
| JEL: | A23 I21 |
| Date: | 2006–12–29 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:5159&r=lab |
| By: | Aliprantis, Dionissi |
| Abstract: | In their justification for using entrance cutoff dates and compulsory education laws as a natural experiment, the authors of Angrist and Krueger (1991) rightly give much attention to the effectiveness of compulsory attendance laws. However, the authors do not give proper attention to the decisions made by parents. If redshirting is commonplace and nonrandom, as it is in the ECLS-K data set, then the identifying assumption of monotonicity does not hold, and their identification scheme does not work. This problem is distinct from those discussed in Bound and Jaeger (2000). |
| JEL: | I20 I21 |
| Date: | 2007–10–05 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:5168&r=lab |
| By: | Mohamed Ali Ben Halima (University of Lyon, Lyon, F-69003, France; CNRS, UMR 5824, GATE, Ecully, F-69130, France; ENS LSH, Lyon, F-69007, France ; Centre Leon Berard, Lyon, F-69003, France); Jean-Yves Lesueur (University of Lyon, Lyon, F-69003, France; CNRS, UMR 5824, GATE, Ecully, F-69130, France; ENS LSH, Lyon, F-69007, France ; Centre Leon Berard, Lyon, F-69003, France) |
| Abstract: | Nous présentons un modèle simple permettant d'interpréter la transition d'un CDD à un CDI à partir d'un mécanisme de tournoi dans lequel la promotion vers le CDI est basée sur une norme de productivité. Les propriétés d'équilibre du modèle montrent que l'écart de salaire entre CDI et CDD est positivement corrélé à l'incertitude qui accompagne la sélection sous le statut de CDD. Cette propriété est soumise à estimation économétrique à partir de l'enquête Emploi historique couvrant la période 1990 - 2002. Nous estimons un modèle d'équations de salaire à double régime (CDI - CDD) avec contrôle du biais de sélection qui caractérise le dépassement de la norme de productivité. Une décomposition des écarts de salaires permet d'identifier la contribution relative des inobservables ayant conditionné l'accès au CDI sur l'écart de salaire. Afin de contrôler l'influence de l'incertitude qui accompagne la compétition entre les salariés pour l'accès au CDI nous avons retenu comme variable proxy la taille de l'entreprise. Les résultats montrent que, dans les PME, les caractéristiques qui contribuent à la sélection tendent à compresser, toutes choses égales par ailleurs, la dispersion des salaires entre CDI et CDD. Dans les grandes entreprises en revanche, l'effet de la sélection augmente l'écart moyen de salaire entre CDI et CDD et ce de l'ordre de 9,3\%. Ce résultat ne semble pas infirmer la propriété de statique comparative du modèle selon laquelle une augmentation de l'incertitude lors de la sélection conduit à un renforcement de l'écart de salaire entre promus et non - promus. |
| Keywords: | individual transition, job contract, Oaxaca Blinder decomposition, permanent job, switching endogenous model, temporary job, wage differential |
| JEL: | C3 C5 J3 J7 |
| Date: | 2007–09 |
| URL: | http://d.repec.org/n?u=RePEc:gat:wpaper:0721&r=lab |
| By: | Kangni Kpodar |
| Abstract: | This paper analyzes the determinants of labor market performance in Algeria. When the model is estimated with panel data on a sample of MENA and transition countries for 1995- 2005, the results suggest that lower growth in labor productivity in Algeria is associated with higher unemployment than the sample average, though recent positive terms of trade shocks have helped Algeria reduce the differential. Labor market rigidities and labor taxation do not seem to explain why unemployment is higher in Algeria than in other countries. The results are robust to various panel econometric methods and instrumental variable estimates. |
| Keywords: | Unemployment , Algeria , Labor markets , Taxation , Working Paper , |
| Date: | 2007–08–30 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:07/210&r=lab |
| By: | Jeffrey Grogger; Lynn Karoly |
| Abstract: | Transfer payments to poor families are increasingly conditioned on work, either via wage subsidies available only to workers or via work requirements in more traditional welfare programs. Although the effects of such programs on employment are fairly well understood, relatively little is known about their effects on marriage or child well-being. We review a small number of studies that provide such information here. Our discussion of marriage is couched in terms of a theoretical model that draws from the efficient-household literature. The model is consistent with the wide range of effects that we observe and suggests an explanation for some of the observed differences. The theoretical framework in which we couch our review of results on children is likewise consistent with the observed variation between programs and among children of different ages. |
| JEL: | I3 J0 |
| Date: | 2007–10 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:13485&r=lab |
| By: | Michele Moretto (Università di Padova); Sergio Vergalli (Università di Brescia) |
| Abstract: | This paper look at why most migration flows include observable jumps, a phenomenon that is in line with migration irreversibility. We have presented a real option model where the migration choice depends on both the wage differential between the host country and the country of origin, and on the probability of full integration into the host country. The optimal migration decision of an individual consists of waiting to migrate in a (coordinated) mass of individuals. The size of the migration flow depends on the behavioural characteristics of the ethnic groups: the more "sociable" they are, the larger the wave and the lower the wage differential required. The second part of the paper is devoted to calibrating the model and simulating migration flows into Italy over the last decade. The calibration can replicate the migration jumps in the short term. In particular, the calibrated model is able to project the induced labour demand elasticity level of the host country and the behavioural rationale of the migrants. |
| Keywords: | Migration, Real Option, Labour Market, Network Effect |
| JEL: | F22 J61 O15 R23 |
| Date: | 2007–10 |
| URL: | http://d.repec.org/n?u=RePEc:pad:wpaper:0053&r=lab |
| By: | Marco Francesconi; Helmut Rainer; Wilbert van der Klaauw |
| Abstract: | This paper examines the effects of theWorking Families’ Tax Credit (WFTC) on couples in Britain. We develop a simple model of household decisions which explicitly accounts for the role played by the tax and benefit system. Its main implications are then tested using panel data from the British Household Panel Survey collected between 1991 and 2002. Overall, the financial incentives of the reform had negligible effects on a wide range of married mothers’ decisions, such as eligible (working at least 16 hours per week) and full-time employment (working at least 30 hours per week), employment transitions, childcare use, and divorce rates. Women’s responses, however, were highly heterogeneous, depending on their partners’ labour supply and earnings. Mothers married to low- income men showed larger responses in employment, especially if they had younger children. They were more likely to remain in the labour force and had higher rates at which they entered it. While more likely to receive the tax credit, they also experienced a greater risk of divorce. We find virtually no effect for women with higher-income husbands. Likewise, there are no statistically significant responses among married men. |
| Keywords: | Tax credit, household labour supply, intrahousehold bargaining, divorce |
| JEL: | D19 |
| Date: | 2007–09 |
| URL: | http://d.repec.org/n?u=RePEc:san:crieff:0709&r=lab |
| By: | Marit Rønsen and Torbjørn Skarðhamar (Statistics Norway) |
| Abstract: | This paper presents results from an evaluation of a Norwegian initiative to combat poverty launched in 2003. Central to the plan is a broad spectrum of rehabilitation and activation measures intended to help long-term social security recipients from welfare to work. We illuminate short-term effects up to the end of 2004, taking a dual approach: First, we analyse transitions to work among participants in the programme and study the determinants of this process by means of survival analysis and multivariate hazard rate regression. Second, we address the question of programme effects adopting a quasi-experimental design based on propensity score matching. We find that the mean programme effect is positive, but only when work is defined fairly broadly. However, the impact varies by target group. For immigrants and single mothers, there is no impact whether we use a strict or less strict definition of work. For youth, the effect is even estimated to be negative, implying that they would have been better off without this initiative. The only significant effect in the desired direction is found among other long-term social security recipients, and applies for both the strict and less strict definition of employment. Moreover, this effect is fairly large. |
| Keywords: | Active labour market programmes; social security recipients; programme evaluation; propensity score matching. |
| JEL: | C41 H55 I38 J64 |
| Date: | 2007–10 |
| URL: | http://d.repec.org/n?u=RePEc:ssb:dispap:519&r=lab |
| By: | Cuccia, Tiziana; Cellini, Roberto |
| Abstract: | This paper shows that the standard result according to which labour-managed firms produce a lower amount of output, as compared to profit-maximising firms, is reversed if production per se gives utility and the workers’ membership of labour-managed firms is set prior to market decisions. Under the same hypotheses, the labour-managed firms set a higher product quality than the profit-oriented ones, ceteris paribus. The considered hypotheses are particularly relevant for the case of the performing arts sector, so that the presence of labour-managed firms should be particularly welcomed in this sector. |
| Keywords: | workers'enterprises; labour managed firms; arts |
| JEL: | L82 L23 |
| Date: | 2007–10 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:5192&r=lab |
| By: | Hernan J. Moscoso Boedo |
| Abstract: | Skill intensive technologies seem to be adopted by rich countries rather than poor ones. Related to that observation, the ratio of wages of skilled to unskilled workers - the skill premium - shows two important features over time and across countries. In the US the skill premium decreased during the first half of the 20th century and it increased after 1950, evolving according to a U shaped pattern. On the other hand, the same measure across countries around 1990 is hump shaped when countries are ordered by GDP per worker. By modeling the decisions for factor accumulation and technology adoption, this paper gives a systematic explanation as to why we see ever more skill intensive technologies being adopted both over time in the US and across countries. The model developed here endogenously generates predictions for the skill premium that are consistent with both the US and international observations under the same set of parameter values |
| Keywords: | skill biased technological change; skill premium,endogenous technology; inequality |
| JEL: | E25 J24 N32 O33 O57 |
| Date: | 2007–04 |
| URL: | http://d.repec.org/n?u=RePEc:vir:virpap:370&r=lab |
| By: | Aliprantis, Dionissi |
| Abstract: | This paper estimates the average treatment effect (ATE) of delaying children's enrollment in kindergarten by six months using the variation in birth dates that is exogenous in the ECLS-K data set. Estimates of the Math and Reading test score ATE start in the fall of kindergarten at 0.28 and 0.13 standard deviations and decline to 0.05 and 0.10 standard deviations by the spring of fifth grade. Unlike estimating the Local Average Treatment Effect (LATE) as done in the recent literature, estimating the ATE allows us to examine the effect of delaying enrollment by demographic characteristics. These estimates indicate that delayed enrollment could help explain the racial test score gap, and provide support for the hypothesis that the production of test scores is a cumulative process. |
| JEL: | J13 J24 I28 I21 |
| Date: | 2007–10–07 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:5196&r=lab |
| By: | Mari Rege, Kjetil Telle and Mark Votruba (Statistics Norway) |
| Abstract: | Using Norwegian register data we estimate how children’s school performance is affected by their parents’ exposure to plant closure. Fathers’ exposure leads to a substantial decline in children’s graduation-year grade point average, but only in municipalities with mediocre-performing job markets. The negative effect does not appear to be driven by a reduction in father’s income and employment, an increase in parental divorce, or the trauma of relocating. In contrast, mothers’ exposure leads to improved school performance. Our findings appear to be consistent with sociological “role theories,” with parents unable to fully shield their children from the stress caused by threats to the father’s traditional role as breadwinner, and mothers responding to job loss by allocating greater attention towards child rearing. |
| Keywords: | educational outcomes; downsizing; job loss; layoffs; plant closure |
| JEL: | I20 J63 J65 |
| Date: | 2007–10 |
| URL: | http://d.repec.org/n?u=RePEc:ssb:dispap:517&r=lab |
| By: | Carneiro, Pedro; Meghir, Costas; Parey, Matthias |
| Abstract: | We study the intergenerational effects of maternal education on children's cognitive achievement, behavioural problems, grade repetition and obesity. We address endogeneity of maternal schooling by instrumenting with variation in schooling costs when the mother grew up. Using matched data from the female participants of the National Longitudinal Survey of Youth 1979 (NLSY79) and their children, we can control for mother's ability and family background factors. Our results show substantial intergenerational returns to education. For children aged 7-8, for example, our IV results indicate that an additional year of mother's schooling increases the child's performance on a standardized math test by almost 0.1 of a standard deviation, and reduces the incidence of behavioural problems. Our data set allows us to study a large array of channels, which may transmit the effect of maternal education to the child, including family environment and parental investments at different ages of the child. We find that income effects, delayed childbearing, and assortative mating are likely to be important, and we show that maternal education leads to substantial differences in maternal labour supply. We investigate heterogeneity in returns, and we present results focusing both on very early stages in the child's life as well as adolescent outcomes. We present a falsification exercise to support the validity of our instruments, and our results are found to be robust in a sensitivity analysis. We discuss policy implications and relate our findings to intergenerational mobility. |
| Keywords: | Child Development; Education; Intergenerational Mobility |
| JEL: | J31 |
| Date: | 2007–10 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:6505&r=lab |