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The Macroeconomic Impact of Financial and Uncertainty Shocks
Caldara, Dario - 2016
The extraordinary events surrounding the Great Recession have cast a considerable doubt on the traditional sources of macroeconomic instability. In their place, economists have singled out financial and uncertainty shocks as potentially important drivers of economic fluctuations. Empirically...
Persistent link: https://www.econbiz.de/10012997363
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Disentangling the Channels of the 2007-2009 Recession
Stock, James H.; Watson, Mark W. - 2021
This paper examines the macroeconomic dynamics of the 2007-09 recession in the United States and the subsequent slow recovery. Using a dynamic factor model with 200 variables, we reach three main conclusions. First, although many of the events of the 2007-2009 collapse were unprecedented, their...
Persistent link: https://www.econbiz.de/10013311921
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Educational choice, initial wage and wage growth
Mazza, Jacopo; Ophem, Hans van - 2020
We investigate the major choice of college graduates where we make choice dependent on expected initial wages and expected wage growth per major. We build a model that allows us to estimate these factors semiparametrically and that corrects for selection bias. We estimate the model on the...
Persistent link: https://www.econbiz.de/10012228687
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Earnings risk and demand for higher education
Hartog, Joop; Diaz-Serrano, Luis - 2002
pivotal role of risk attitudes and the schooling gradient of earnings risk. We use Spanish data to document the gradient and … to estimate individual response to earnings risk in deciding on attending university education, by measuring risk as the … risk aversion, the response may be reversed to positive. …
Persistent link: https://www.econbiz.de/10011327826
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Risk and Returns to Education
Brown, Jeffrey R. - 2012
We analyze the returns to education in a life-cycle framework that incorporates risk preferences, earnings volatility …
Persistent link: https://www.econbiz.de/10013101828
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What option prices tell us about the ECB's unconventional monetary policies
Olijslagers, Stan; Petersen, Annelie; Vette, Nander de; … - 2018
We use a series of different approaches to extract information about crash risk from option prices for the Euro …-Dollar exchange rate, with each step sharpening the focus on extracting more specific measures of crash risk around dates of ECB … without precisely describing what exactly they entail does not move asset markets or actually increases crash risk. Also …
Persistent link: https://www.econbiz.de/10011940034
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The Labor of Division : Returns to Compulsory High School Math Coursework
Goodman, Joshua - 2017
Despite great focus on and public investment in STEM education, little causal evidence connects quantitative coursework to students' economic outcomes. I show that state changes in minimum high school math requirements substantially increase Black students' completed math coursework and their...
Persistent link: https://www.econbiz.de/10012964911
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Validating Teacher Effect Estimates Using Changes in Teacher Assignments in Los Angeles
Bacher-Hicks, Andrew - 2014
In a widely cited study, Chetty, Friedman, and Rockoff (2014a; hereafter CFR) evaluate the degree of bias in teacher value-added estimates using a novel "teacher switching" research design with data from New York City. They conclude that there is little to no bias in their estimates. Using the same...
Persistent link: https://www.econbiz.de/10013044353
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The Long Run Human Capital and Economic Consequences of High-Stakes Examinations
Lavy, Victor - 2014
Cognitive performance during high-stakes exams can be affected by random disturbances that, even if transitory, may have permanent consequences for long-term schooling attainment and labor market outcomes. We evaluate this hypothesis among Israeli high school students who took a series of high...
Persistent link: https://www.econbiz.de/10013044617
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What Do Test Scores Miss? The Importance of Teacher Effects on Non-Test Score Outcomes
Kirabo Jackson, C. - 2016
This paper extends the traditional test-score value-added model of teacher quality to allow for the possibility that teachers affect a variety of student outcomes through their effects on both students' cognitive and noncognitive skill. Results show that teachers have effects on skills not...
Persistent link: https://www.econbiz.de/10012992655