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Duration Dependence (duration + dependence)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting62%
Humanities and Social Sciences37%

Selected Abstracts

Inflow Composition, Duration Dependence and their Impact on the Unemployment Outflow Rate*

OXFORD BULLETIN OF ECONOMICS & STATISTICS, Issue 1 2003
Hélène Turon
This paper presents estimates of the components of the dynamics of the unemployment outflow rate with British data. We allow both the composition of the inflow and individual duration dependence to vary over the business cycle. We find the inflow composition to be strongly countercyclical. Individual exit rates are found to be substatntially more sensitive to the business cycle than previously thought and than the average exit rate fluctuations suggest. Cyclical variations in duration dependence are not significant. With our estimates, fluctuations in the average exit rate out of the first year of unemployment are mainly accounted for by variations of individual exit rates, variation of inflow composition, and variation in the inflow level combined with the duration dependence phenomenon. [source]

Rehires and Unemployment Duration in the Swedish Labour Market , New Evidence of Temporary Layoffs

LABOUR, Issue 2 2002
Fredrik JanssonArticle first published online: 7 JAN 200
The paper investigates temporary layoffs in the Swedish labour market. Previous reports of few temporary layoffs are rejected. About 45 percent of unemployed people who found a job returned to a previous employer. As a stock measure, 10 percent of the unemployed are on temporary layoff. Using new job and recall as distinct exits in a competing risks model, one cannot reject a horizontal duration dependence for new jobs, while the recall hazard shows a strong, negative duration dependence. Clearer predictions of the effect of education on job probabilities are also found. Further, the results probably have implications for the interpretation of several policy parameters, including labour market programme outcomes. [source]

Testing a Hazard Model for the Housing Market in New Orleans

AMERICAN JOURNAL OF ECONOMICS AND SOCIOLOGY, Issue 2 2007
Amaresh Das
The article presents a search-theoretic approach to investigate the relationship between probability of a sale and market duration in the housing market. Using a hazard model to study duration dependence, the article, on the basis of data from New Orleans, provides empirical evidence that houses do exhibit duration dependence. [source]

Inflow Composition, Duration Dependence and their Impact on the Unemployment Outflow Rate*

OXFORD BULLETIN OF ECONOMICS & STATISTICS, Issue 1 2003
Hélène Turon
This paper presents estimates of the components of the dynamics of the unemployment outflow rate with British data. We allow both the composition of the inflow and individual duration dependence to vary over the business cycle. We find the inflow composition to be strongly countercyclical. Individual exit rates are found to be substatntially more sensitive to the business cycle than previously thought and than the average exit rate fluctuations suggest. Cyclical variations in duration dependence are not significant. With our estimates, fluctuations in the average exit rate out of the first year of unemployment are mainly accounted for by variations of individual exit rates, variation of inflow composition, and variation in the inflow level combined with the duration dependence phenomenon. [source]

Submarket Dynamics of Time to Sale

REAL ESTATE ECONOMICS, Issue 3 2006
Gwilym Pryce
We argue that the rush to apply multiple regression estimation to time on the market (TOM) durations may have led to important details and idiosyncrasies in local housing market dynamics being overlooked. What is needed is a more careful examination of the fundamental properties of time to sale data. The approach promoted and presented here, therefore, is to provide an examination of housing sale dynamics using a step-by-step approach. We present three hypotheses about TOM: (i) there is nonmonotonic duration dependence in the hazard of sale, (ii) the hazard curve will vary both over time and across intra-urban areas providing evidence of the existence of submarkets and (iii) institutional idiosyncrasies can have a profound effect on the shape and position of the hazard curve. We apply life tables, kernel-smoothed hazard functions and likelihood ratio tests for homogeneity to a large Scottish data set to investigate these hypotheses. Our findings have important implications for TOM analysis. [source]

Selection Bias and Continuous-Time Duration Models: Consequences and a Proposed Solution

AMERICAN JOURNAL OF POLITICAL SCIENCE, Issue 1 2006
Frederick J. Boehmke
This article analyzes the consequences of nonrandom sample selection for continuous-time duration analyses and develops a new estimator to correct for it when necessary. We conduct a series of Monte Carlo analyses that estimate common duration models as well as our proposed duration model with selection. These simulations show that ignoring sample selection issues can lead to biased parameter estimates, including the appearance of (nonexistent) duration dependence. In addition, our proposed estimator is found to be superior in root mean-square error terms when nontrivial amounts of selection are present. Finally, we provide an empirical application of our method by studying whether self-selectivity is a problem for studies of leaders' survival during and following militarized conflicts. [source]