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China's Latent Human Capital Investment: Achieving Milestones and Competing for the Top

Constant, Amelie; Meng, Jingzhou; Tien, Bienvenue; … - C.E.P.R. Discussion Papers - 2011

In this paper we provide an overview of China’s human capital strategy and educational achievements over the last two … decades. While every one acknowledges China as an economic superpower, very few are aware of or realize China’s notable … Chinese modern higher education system China has made tremendous strides in education both domestically and internationally …

Persistent link: https://www.econbiz.de/10009002385

Impoverished, but Numerate? Early Numeracy in East Asia (1550–1800) and its Impact on 20th and 21st Century Economic Growth

Baten, Jörg; Sohn, Kitae - C.E.P.R. Discussion Papers - 2014

period 1550–1630. We add evidence from Japan and China from the early modern period until 1800 to obtain a human capital …

Persistent link: https://www.econbiz.de/10011083906

Explaining Consumption: A Simple Test of Alternative Hypotheses

Bayoumi, Tamim - C.E.P.R. Discussion Papers - 1995

A method of testing the relative importance for consumption of full insurance behaviour and changes in income is proposed and estimated using data across Canadian provinces. The focus of the estimation is less on whether or not the full insurance model can be rejected than on how much each of...

Persistent link: https://www.econbiz.de/10005791682

Consumer Credit: Evidence from Italian Micro Data

Alessie, Rob; Hochguertel, Stefan; Weber, Guglielmo - C.E.P.R. Discussion Papers - 2001

In this Paper we analyse unique data on credit applications received by the leading provider of consumer credit in Italy (Findomestic). The data set covers a five year period (1995-99) during which the consumer credit market rapidly expanded in Italy and a new law came into force that set a...

Persistent link: https://www.econbiz.de/10005123988

House Prices and Risk Sharing

Hryshko, Dmytro; Luengo-Prado, Maria Jose; Sørensen, Bent E - C.E.P.R. Discussion Papers - 2010

Using data from the Panel Study of Income Dynamics, we show that homeowners are able to maintain a high level of consumption following job loss (or disability) in periods of rising local house prices while the consumption drop for homeowners who lose their job in times of lower house prices is...

Persistent link: https://www.econbiz.de/10008553068

A Dynamic Model of Housing Demand: Estimation and Policy Implications

Bajari, Patrick; Chan, Phoebe; Krueger, Dirk; Miller, Daniel - C.E.P.R. Discussion Papers - 2010

Using data from the Panel Study of Income Dynamics (PSID) we specify, estimate and simulate a dynamic structural model of housing demand. Our model generalizes previous applied econometric work by incorporating realistic features of the housing market including non-convex adjustment costs from...

Persistent link: https://www.econbiz.de/10008554234

Heterogenous Life-Cycle Profiles, Income Risk and Consumption Inequality

Primiceri, Giorgio E; van Rens, Thijs - C.E.P.R. Discussion Papers - 2006

Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of transitory shocks? The implications for consumption and welfare depend crucially on the answer to this question. We use CEX repeated cross-section data on consumption and income to...

Persistent link: https://www.econbiz.de/10005661588

Consumption and Credit Constraints: International evidence

Bacchetta, Philippe; Gerlach, Stefan - C.E.P.R. Discussion Papers - 1997

If some consumers are liquidity-constrained, aggregate consumption should be ‘excessively sensitive’ to credit conditions as well as to income. Moreover, the ‘excess sensitivity’ may vary over time. Using data for Canada, France, Japan, the United Kingdom and the United States, we find a...

Persistent link: https://www.econbiz.de/10005666583

International Trade in Exhaustible Resources: A Cartel-Competitive Fringe Model

Karp, Larry; Tahvonen, Olli - C.E.P.R. Discussion Papers - 1996

We characterize the open-loop and the Markov-Perfect Stackelberg equilibria for a differential game in which a cartel and a fringe extract a non-renewable resource. Both agents have stock dependent costs. The comparison of initial market shares, across different equilibria, depends on which firm...

Persistent link: https://www.econbiz.de/10005667091

Financial Literacy and Savings Account Returns

Deuflhard, Florian; Georgarakos, Dimitris; Inderst, Roman - C.E.P.R. Discussion Papers - 2014

Savings accounts are owned by most households, but little is known about the performance of households’ investments. We create a unique dataset by matching information on individual savings accounts from the DNB Household Survey with market data on account-specific interest rates and...

Persistent link: https://www.econbiz.de/10011083539