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Learning to Take Risks? The Effect of Education on Risk-Taking in Financial Markets

Black, Sandra; Devereux, Paul J.; Lundborg, Petter; … - C.E.P.R. Discussion Papers - 2015

We investigate whether acquiring more education when young has long-term effects on risk-taking behavior in financial markets and whether the effects spill over to spouses and children. There is substantial evidence that more educated people are more likely to invest in the stock market....

Persistent link: https://www.econbiz.de/10011249373

The Aggregate Labour Market Effects of the Swedish Knowledge Lift Program

Albrecht, James; den Berg, Gerard J van; Vroman, Susan - C.E.P.R. Discussion Papers - 2006

The Swedish adult education program known as the Knowledge Lift (1997--2002) was unprecedented in its size and scope …

Persistent link: https://www.econbiz.de/10005123553

Risk Aversion and Human Capital Investment: A Structural Econometric Model

Brodaty, Thomas; Gary-Bobo, Robert J.; Prieto, Ana - C.E.P.R. Discussion Papers - 2006

We propose to model individual educational investments as a rational decision, maximizing expected utility, conditional on some characteristics observed by the student, under the combined risks affecting future wages and schooling duration. Assuming that students' attitudes toward risk can be...

Persistent link: https://www.econbiz.de/10005123629

Increasing Returns to Education: Theory and Evidence

Booth, Alison L; Coles, Melvyn G; Gong, Xiaodong - C.E.P.R. Discussion Papers - 2007

We model educational investment and labour supply in a competitive economy with home and market production. Heterogeneous workers are assumed to have different productivities both at home and in the workplace. Following Rosen (1983), we show that there are private increasing returns to education...

Persistent link: https://www.econbiz.de/10005497970

The Education, Labour Market and Health Consequences of Child Labour

Beegle, Kathleen; Dehejia, Rajeev H; Gatti, Roberta - C.E.P.R. Discussion Papers - 2004

Though there is a large literature on the determinants of child labour and many initiatives aimed at combating this phenomenon, there is limited evidence on the consequences of child labour for socioeconomic outcomes such as education, occupational choice, wages, and health. Using panel data...

Persistent link: https://www.econbiz.de/10005067577

Sheepskin Effects in Japan

Bauer, Thomas; Dross, Patrick J; Haisken-DeNew, John P - C.E.P.R. Discussion Papers - 2002

Using data for the 1990s, this Paper examines the role of sheepskin effects in the returns to education for Japan. Our estimations indicate that sheepskin effects explain about 50% of the total returns to schooling. We further find that sheepskin effects are only important for workers in small...

Persistent link: https://www.econbiz.de/10005656206

Returns to Education: Evidence from UK Twins

Bonjour, Dorothe; Cherkas, Lynn; Haskel, Jonathan; … - C.E.P.R. Discussion Papers - 2002

We use a new sample of UK female identical twins to estimate private economic returns to education. We report findings in three areas. First, we use identical twins, to control for family effects and genetic ability bias, and the education reported by the other twin to control for schooling...

Persistent link: https://www.econbiz.de/10005662039

Productivity Spillovers Through Labor Mobility

Heggedal, Tom-Reiel; Moen, Espen R; Preugschat, Edgar - C.E.P.R. Discussion Papers - 2014

imitate by hiring a worker from a firm that has already innovated. We show that if innovation firms can commit to long … contracts, there is too little innovation and too much imitation in equilibrium. Our model is tractable and allows us to analyze … welfare effects of various policies in the limited commitment case. We find that subsidizing innovation and taxing imitation …

Persistent link: https://www.econbiz.de/10011171780

Innovation Beyond Patents: Technological Complexity as a Protection against Imitation

Henry, Emeric; Ruiz-Aliseda, Francisco - C.E.P.R. Discussion Papers - 2012

A large portion of innovators do not patent their inventions. This is a relative puzzle since innovators are often perceived to be at the mercy of imitators in the absence of legal protection. In practice, innovators however invest actively in making their products technologically hard to...

Persistent link: https://www.econbiz.de/10011084053

Does Microsoft Stifle Innovation? Dominant Firms, Imitation and R&D Incentives

Cabral, Luís M B; Polak, Ben - C.E.P.R. Discussion Papers - 2004

firm's incentives for R&D. These changes influence the probability of innovation through two effects: changes in total R … shift from the rival firm to the dominant firm is a good thing as it decreases the likelihood of duplicate innovation (we … rights are strong. That is, firm dominance is good for innovation when (but only when) property rights are strong. We also …

Persistent link: https://www.econbiz.de/10005789049