... to the important role that Central Bank independence plays regarding credit booms length and outcome. Considering ongoing credit booms as the base outcome (and normalizing the respective coefficients to zero, as is standard in the multinomial logit model), the specific ‘destination’ hazard function can...

... and falls short of explaining the underlying dynamics of observed transitions. In order to examine the nature of labor mobility patterns in more detail, we estimate multinomial logit (MNL) models of the likelihood of possible transitions by adopting a number of individual, household and job characteristics...

... a multinomial logit model to see the youth distribution across different employment status changes as a result of an increase in the minimum wage. Five categories of youth employment statuses are examined including self-employed; unpaid family workers; paid employees in the covered sector; paid employees...