Does schooling pay off? - a seemingly straightforward question, but it is in fact a puzzle among economists. Answers would differ based on how the returns to schooling are estimated. Among the top concerns is whether such estimations have any causal connotation between the amount of schooling...

We estimate the distributional effects of freedom and income on happiness for East Asian Chinese societies through an ordinal parametric quantile regression approach. The results show that freedom and income exhibit positive and significant effects across societies and happiness levels. The...

The hedonic wage equation is the relationship between wages and job and personal attributes (such as safety and working experiences) when the labor market is in equilibrium. The estimated equations have often been used to measure marginal values of risk reduction (safety) (or the value of a...

Because of the potential for global warming, there are widespread concerns about the impact of changing climate upon the productivity of land in farming and other sectors. This paper develops a new approach for measuring the economic impact of environmental factors such as climate on production...

This paper develops a "Ricardian" approach for measuring the economic impact of environmental factors such as climate by examining the direct impact of the environmental factor on land prices. Estimating the model using cross-sectional data on climate, farm-land prices, and other economic and...