China hosts the world's largest secondary education sector: more than 14 million adolescents enrol in secondary academic or vocational schools every year. Despite the large literature on returns to education, little evidence exists as to how these two streams compare in the country. Using 2013...

In 2020, the world was shaken by a very unexpected development, an unseen virus which could kill millions and spread without control. To reduce the impact of the pandemic and before the vaccine was created, lockdown and other safety measures were implemented. In this context, the socio-economic...

We apply the growth-at-risk model of Adrian et al. (2019) to the German commercial real estate (CRE) market. We derive a distribution for CRE price growth four quarters ahead conditional on macro-financial variables. This approach allows us to make probability statements about the downside risk...

Our research interest is in the existence and size of possible peer effects in pay or whether a worker may get a higher salary because another worker does rather than being related to a change in the worker's productivity or market forces. Previous research, which has concentrated on executive...