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Transition Models in a Non-stationary Environment

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  • Imbens, G W

Abstract

An alternative form of the proportional hazard model is proposed. It allows one to introduce correlation between exit rates at the same (calendar) time for different individuals. One can, in the context of this model, still allow for, and estimate, duration effects. These should be parametrized. These modifications to the original Cox model are possible by reversing the roles of duration and calendar time. It is argued that flexibility with respect to the effects of these macro processes is of particular relevance in economic models. An example using Dutch data on labor market transitions illustrates the idea that to ignore calendar time effects may have severe consequences for the estimation of duration dependence. Copyright 1994 by MIT Press.

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Bibliographic Info

Article provided by MIT Press in its journal Review of Economics & Statistics.

Volume (Year): 76 (1994)
Issue (Month): 4 (November)
Pages: 703-20

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Handle: RePEc:tpr:restat:v:76:y:1994:i:4:p:703-20

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Cited by:
  1. Brigitte Dormont & Denis Fougère & Ana Prieto, 2001. "L'effet de l'allocation unique dégressive sur la reprise d'emploi," Économie et Statistique, Programme National Persée, vol. 343(1), pages 3-28.
  2. Boockmann, Bernhard & Fries, Jan & Göbel, Christian, 2012. "Specific measures for older employees and late career employment," ZEW Discussion Papers 12-059, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  3. Kalwij, Adriaan, 2001. "Individuals' Unemployment Durations over the Business Cycle," IZA Discussion Papers 369, Institute for the Study of Labor (IZA).
  4. Guido W. Imbens & Lisa M. Lynch, 1993. "Re-Employment Probabilities over the Business Cycle," NBER Working Papers 4585, National Bureau of Economic Research, Inc.
  5. Charles W. Calomiris & Joseph R. Mason, 2001. "Causes of U.S. bank distress during the depression," Proceedings 714, Federal Reserve Bank of Chicago.
  6. Hesselius, Patrik, 2007. "Does sickness absence increase the risk of unemployment?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 36(2), pages 288-310, April.
  7. Gordon Wilkinson, 1997. "A Micro Approach to the Issue of Hysteresis in Unemployment: Evidence from the 1988­1990 Labour Market Activity Survey," Working Papers 97-12, Bank of Canada.
  8. van den Berg, Gerard J & van der Klaauw, Bas, 2000. "Combining Micro and Macro Unemployment Duration Data," CEPR Discussion Papers 2494, C.E.P.R. Discussion Papers.
  9. Hesselius, Patrik, 2003. "Does Sick Absence Increase the Risk of Unemployment?," Working Paper Series 2003:15, Uppsala University, Department of Economics.
  10. Dohmen, Thomas J. & Pfann, Gerard A., 2004. "Worker separations in a nonstationary corporate environment," European Economic Review, Elsevier, vol. 48(3), pages 645-663, June.
  11. Mark Yuying An & Ming Liu, 2000. "Using Indirect Inference To Solve The Initial-Conditions Problem," The Review of Economics and Statistics, MIT Press, vol. 82(4), pages 656-667, November.
  12. Kalwij, Adriaan, 2001. "Individuals' Unemployment Experiences: Heterogeneity and Business Cycle Effects," IZA Discussion Papers 370, Institute for the Study of Labor (IZA).
  13. van Ommeren, Jos & Rietveld, Piet & Nijkamp, Peter, 2002. "A bivariate duration model for job mobility of two-earner households," European Journal of Operational Research, Elsevier, vol. 137(3), pages 574-587, March.

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