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Forced to be Rich? Returns to Compulsory Schooling in Britain
Devereux, Paul J.; Hart, Robert A - C.E.P.R. Discussion Papers - 2008
Do students benefit from compulsory schooling? Researchers using changes in compulsory schooling laws as instruments have typically estimated very high returns to additional schooling that are greater than the corresponding OLS estimates and concluded that the group of individuals who are...
Persistent link: https://www.econbiz.de/10005791839
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Real Wage Inequality
Moretti, Enrico - C.E.P.R. Discussion Papers - 2008
A large literature has documented a significant increase in the return to college over the past 30 years. This increase is typically measured using nominal wages. I show that from 1980 to 2000, college graduates have increasingly concentrated in metropolitan areas that are characterized by a...
Persistent link: https://www.econbiz.de/10005136498
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Rotten Kids with Bad Intentions
Netzer, Nick; Schmutzler, Armin - C.E.P.R. Discussion Papers - 2010
We examine a "Rotten Kid" model (Becker 1974) where a player with social preferences interacts with an egoistic player. We assume that social preferences are intention-based rather than outcome-based. In a very general multi-stage setting we show that any equilibrium must involve mutually unkind...
Persistent link: https://www.econbiz.de/10008468559
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Structural or Cyclical? Unemployment in Latvia Since the 2008-09 Financial Crisis
Anosova, Daria; Sonin, Konstantin; Vanags, Alf; Zasova, Anna - C.E.P.R. Discussion Papers - 2013
In terms of output decline and increase in unemployment, the economic recession in Latvia that started during the 2008-09 financial crisis was one of the most severe in the world. Using both decomposition of the unemployment rate into structural and cyclical components and Mortensen and...
Persistent link: https://www.econbiz.de/10011083363
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Consumption Over the Life-Cycle
Gourinchas, Pierre-Olivier; Parker, Jonathan A - C.E.P.R. Discussion Papers - 2000
consumption and income over the working lives of typical households across different education and occupation groups. Using these … income uncertainty. The model fits the profiles quite well. In addition to providing tight estimates of the discount rate and … of expected income. Our methodology provides a natural decomposition of saving into its precautionary and retirement …
Persistent link: https://www.econbiz.de/10005504201
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Innovative Clusters and the Industry Life Cycle
Audretsch, David B; Feldman, Maryann P - C.E.P.R. Discussion Papers - 1995
The purpose of this paper is to link the propensity for innovative activity to cluster spatially to the stage of the industry life cycle. The theory of knowledge spillovers, based on the knowledge production function for innovative activity, suggests that geographic proximity matters most in...
Persistent link: https://www.econbiz.de/10005497876
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Vanishing Third World Emigrants?
Hatton, Timothy J.; Williamson, Jeffrey G - C.E.P.R. Discussion Papers - 2009
1970 - the income gap between the US and the sending country, the education gap between the US and the sending country, the …
Persistent link: https://www.econbiz.de/10004972165
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Winners and Losers in Housing Markets
Kiyotaki, Nobuhiro; Michaelides, Alexander; Nikolov, Kalin - C.E.P.R. Discussion Papers - 2010
This paper is a quantitatively-oriented theoretical study into the interaction between housing prices, aggregate production, and household behavior over a lifetime. We develop a life-cycle model of a production economy in which land and capital are used to build residential and commercial real...
Persistent link: https://www.econbiz.de/10011083522
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Asset Market Participation and Portfolio Choice over the Life Cycle
Fagereng, Andreas; Gottlieb, Charles; Guiso, Luigi - C.E.P.R. Discussion Papers - 2013
We study the life cycle of portfolio allocation following for 15 years a large random sample of Norwegian households using error-free data on all components of households’ investments drawn from the Tax Registry. Both, participation in the stock market and the portfolio share in stocks, have...
Persistent link: https://www.econbiz.de/10011084665
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Human Capital and Optimal Positive Taxation of Capital Income
Bovenberg, A Lans; Jacobs, Bas - C.E.P.R. Discussion Papers - 2005
investment, financial savings, and labour supply with heterogenous individuals. A dual income tax with a positive marginal tax … rate on not only labour income but also capital income is optimal. The positive tax on capital income serves to alleviate … the distortions of the labour tax on human capital accumulation. The optimal marginal tax rate on capital income is lower …
Persistent link: https://www.econbiz.de/10005123828