Reducing social assistance dependency is high on the political agenda; labour market and social exclusion of youth, in particular, has been considered worrisome. With these policy objectives and societal considerations in mind we set to study the association between health problems, with a specific focus on mental health, and the duration of social assistance receipt among young adults in Finland. Our analyses are based on rich register data encompassing the total population in the metropolitan area of Finland from 2005 to 2016. We follow a cohort of new social assistance recipients (n=36,728) aged 18–34 for a maximum of 60 months using Cox proportional hazard model. The results show a strong association between mental health problems and duration of social assistance receipt. The association was the strongest among those aged 18–24. Some differences in the strength of the association were found for different psychiatric diagnoses. On the other hand, somatic diagnoses were only weakly associated with duration of social assistance receipt. Mental health problems appear to be an important obstacle for exiting social assistance and this should be taken into account when governments aim to decrease welfare dependency and reform the last-resort financial aid.

In this paper, we examine reforms characterized by the establishment of mandatory funded privately-managed schemes in the social security framework. We construct a new dataset to analyze the determinants of pension reforms over 1980–2012 in about 100 medium and large economies around the world. Our results highlight the fundamental importance of economic forces in explaining the speed of reforms after adjusting for the confounding effects of demographic and geopolitical factors. Countries with greater globalization growth and a history of economic crisis experienced a shorter time until reform. These findings are robust to variations in empirical methodology.

The objectives of this study are twofold: first, we assess what factors “anchors” are keeping immigrants in their current place of residence, and what variables drive immigrants to move out of their community. Second, we also look at how the effects of these factors on migration differ by whether or not immigrants are living in ethnic enclaves and by the macro-level economic environment. We find that the conventional “anchors” of mobility are less powerful for immigrants living in co-ethnic regions. Results also show that under depressed economic conditions, migration decisions are largely driven by economic factors, and that socio-demographic factors like marital status are less consequential. Conversely, when general economic conditions are better for immigrants, marital status will weigh more heavily on migration decisions.

In this paper, we assess the characteristics of the housing market and its main determinants. Using data for 20 industrial countries over the period 1970Q1–2012Q2 and a discrete-time Weibull duration model, we find that the likelihood of the end of a housing boom or a housing bust increases over time. Additionally, we show that the different phases of the housing market cycle are strongly dependent on the economic activity, but credit market conditions are particularly important in the case of housing booms. The empirical findings also indicate that although housing booms have similar lengths in European and non-European countries, housing busts are typically shorter in European countries. The use of a more flexible specification for the hazard function that is based on cubic splines suggests that it evolves in a nonlinear way. From a policy perspective, our study can be useful for predicting the timing and the length of housing boom–bust cycles. Moreover, it highlights the importance of monetary policy by influencing lending rates and affecting the likelihood of occurrence of housing booms.