Using the 1990-2 wave of the French Labour Force Survey to study the employment histories of young people I consider transitions between six labour market states: employment contracts whether ...permanent or temporary, unemployment, training, education and non-participation. I use a fixed effect estimator in a dynamic multinomial logit model which can accommodate any form of unobserved heterogeneity in levels. This analysis can be extended to Markov processes of any order. I relate heterogeneity components to individual and family characteristics by using simulated maximum likelihood methods. These procedures allow evaluation of the effects training schemes have on youth employment histories.
The Gulf War provides an opportunity to estimate the effect of work-related separations on military families. Using data from the 1992 Survey of Officers and Enlisted Personnel, the authors estimate ...the effect of Gulf War deployment on divorce rates, spousal employment, and children's disability rates. Deployment of male soldiers had no effect on marital dissolution, though it did lead soldiers' wives to work less. In contrast, deployment of female soldiers led to a large and statistically significant increase in divorce rates, suggesting deployment of women placed a marked strain on marriages. Deployment of female soldiers did not affect husbands' labor supply. Finally, the results show no statistically significant increase in disability rates among the children of deployed personnel.
Failure risk is modelled for the very turbulent economic environment of the UK in 1989–1991 using a logit estimator augmented in the case of firms that fail by macroeconomic determinants of ...insolvency. We provide robust evidence that beyond the commonly observed financial statement-based determinants, shocks in the nominal interest rate and the real exchange rate are key factors in causing large firms to fail. The results suggest that policy makers and practitioners should pay specific attention to the impact of higher than usual nominal interest rates that affect firms’ capacity to roll over debt, and to high real exchange rates.
In our generalized TOBIT analysis we identify a number of variables which have an impact on a firm's innovation "output". Among others we find that larger firms generally have a higher probability of ...selling some innovative products, although this probability increases less than proportionately with firm size. Given that a firm has some sales of innovative products, the share of such products in a firm's total sales tends to be higher in smaller firms. Moreover, a strong small business presence in a sector seems to enhance imitative innovation but has no influence on "true" innovations, whereas market concentration has no influence on innovation "output" in whatever definition. We also find evidence of regional knowledge spill-overs. Furthermore, our results are consistent with Schmookler's hypothesis that the growth of demand enhances innovation. The outcomes about the impact of R&D collaboration and technology transfer on innovation remain ambiguous.
Traditional insurance contracts do not offer protection against the replacement value of a vehicle. A replacement cost endorsement gives the opportunity to get a new vehicle in the case of a total ...theft or in the case of total destruction of the car in a road accident. This type of protection was introduced in Canada in the late 1980's. It is also offered in France and many insurers in the United States are going to move in that direction. We propose tests that separate moral hazard from adverse selection in the analysis of the effect of this additional protection on car theft. We show that holders of car insurance policies with a replacement cost endorsement have a higher probability of theft near the end of this additional protection (usually 24 months following the acquisition of a new car). Our tests indicate that this result is a form of ex post moral hazard or opportunistic insurance fraud.
Assymetric information associated with issues of transparency, governance and the country's financial, economic and political organization make it difficult to price bonds issued by sovereign ...entities. Where asymmetric information and corporate debt are concerned, the literature suggests that factors such as ratings, listing exchange, issuer type, lead manager, number of dealers and influential dealer, provide help to mitigate the problem. In this paper we test whether any of these factors are relevant for Indian eurobond prices over the period 1990–1992. We find that they do not provide much help. After accounting for changes in the risk-free term structure none of these factors contributes to explaining secondary market Indian bond prices over the period. Although rating changes are significant, taken together with changes in the risk-free term structure, the adjusted
R-squared is lower than when changes in the risk-free term structure are used alone. None of the other factors are close to being significant at any conventional level.
Problematiku jugoslavenske krize početkom 90-ih godina prošlog stoljeća moramo promatrati u kontekstu složenih promjena ukupnog sustava međunarodnih odnosa i sloma komunizma u tom vremenu, posljedica ...čega je ustrojavanje novog sustava međunarodnih odnosa. Brojni su razlozi koji su doveli do raspada SFRJ te posljedično, do razvoja novih političkih ideja, koje su se početkom 90-ih uobličile u konkretnim zahtjevima za osamostaljenjem bivših jugoslavenskih republika. Nažalost, taj je proces na ovim prostorima prerastao u otvorene oružane sukobe, prve takve na europskom tlu nakon II. svjetskog rata. Specifičan kontekst konstituiranja novih samostalnih i neovisnih država ostavio je otvorena pitanja međunarodnoga humanitarnog prava, odnosno prava oružanih sukoba. U kojem su trenutku pojedini sukobi mijenjali kvalifikaciju iz nemeđunarodnih u međunarodne, ili obratno, predmet je prijepora u znanstvenoj literaturi. Pri razmatranju povijesnog konteksta, pravnih činjenica, relevantnih dokumenata, ali i opsežne prakse Međunarodnoga kaznenog tribunala za bivšu Jugoslaviju te Međunarodnog suda u radu je iznesen pregled promjena i zaključci koji su imali utjecaja na međunarodnopravnu kvalifikaciju oružanih sukoba na području Republike Hrvatske i Bosne i Hercegovine.
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