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Systemic Risk and the Refinancing Ratchet Effect

Lo, Andrew W.; merton, robert c.; Khandani, Amir E. - National Bureau of Economic Research (NBER) - 2009

The confluence of three trends in the U.S. residential housing market---rising home prices, declining interest rates, and near-frictionless refinancing opportunities---led to vastly increased systemic risk in the financial system. Individually, each of these trends is benign, but when they occur...

Persistent link: https://www.econbiz.de/10005089229

China's Exports and Employment

Feenstra, Robert C.; Hong, Chang - National Bureau of Economic Research (NBER) - 2007

Dooley et al (2003, 2004a,b,c) argue that China seeks to raise urban employment by 10-12 million persons per year, with about 30% of that coming from export growth. In fact, total employment increased by 7.5-8 million per year over 1997-2005. We estimate that export growth over 1997-2002...

Persistent link: https://www.econbiz.de/10005775179

Can Online Learning Bend the Higher Education Cost Curve?

Goldin, Claudia; Katz, Lawrence F.; Deming, David J.; … - National Bureau of Economic Research (NBER) - 2015

We examine whether online learning technologies have led to lower prices in higher education. Using data from the Integrated Postsecondary Education Data System, we show that online education is concentrated in large for-profit chains and less-selective public institutions. Colleges with a...

Persistent link: https://www.econbiz.de/10011133520

College Admissions as Non-Price Competition: The Case of South Korea

Avery, Christopher N.; Roth, Alvin; Lee, Soohyung - National Bureau of Economic Research (NBER) - 2014

This paper examines non-price competition among colleges to attract highly qualified students, exploiting the South Korean setting where the national government sets rules governing applications. We identify some basic facts about the behavior of colleges before and after a 1994 policy change...

Persistent link: https://www.econbiz.de/10011103508

Heterogeneous Paths Through College: Detailed Patterns and Relationships with Graduation and Earnings

Andrews, Rodney; Li, Jing; Lovenheim, Michael - National Bureau of Economic Research (NBER) - 2014

A considerable fraction of college students and bachelor's degree recipients enroll in multiple postsecondary institutions. Despite this fact, there is scant research that examines the nature of the paths - both the number and types of institutions - that students take to obtain a bachelor's...

Persistent link: https://www.econbiz.de/10011105935

The Supply of and Demand for Charitable Donations to Higher Education

Brown, Jeffrey Robert; Dimmock, Stephen G.; Weisbenner, … - National Bureau of Economic Research (NBER) - 2012

shocks operate. In panel data with fixed effects to control for unobservable differences across universities, we find that … management by colleges and universities. …

Persistent link: https://www.econbiz.de/10011106379

Endowment Management Based on a Positive Model of the University

Hoxby, Caroline - National Bureau of Economic Research (NBER) - 2012

I propose a positive model of the university that generates many apparently peculiar features of universities such as … within the model: they are a necessary feature of certain universities, not an accident. The model has important implications … for the decisions that universities should make on many fronts, but I focus on the implications for financial decisions …

Persistent link: https://www.econbiz.de/10011106380

The Interaction of Spending Policies, Asset Allocation Strategies, and Investment Performance at University Endowment Funds

Brown, Keith; Tiu, Cristian - National Bureau of Economic Research (NBER) - 2013

Using data for more than 800 college and university endowment funds over 2003-2011, we provide a comprehensive analysis of the spending policies used in practice as well as how frequently and why those mandates are revised over time. Given the long-term and relatively static nature of the...

Persistent link: https://www.econbiz.de/10011106381

Efficacy vs. Equity: What Happens When States Tinker with College Admissions in a Race-Blind Era?

Black, Sandra E.; Cortes, Kalena E.; Lincove, Jane Arnold - National Bureau of Economic Research (NBER) - 2014

College admissions officers face a rapidly changing policy environment where court decisions have limited the use of affirmative action. At the same time, there is mounting evidence that commonly used signals of college readiness, such as the SAT/ACTs, are subject to race and socioeconomic bias....

Persistent link: https://www.econbiz.de/10011114862

Leveling Up: Early Results from a Randomized Evaluation of Post-Secondary Aid

Angrist, Joshua; Autor, David; Hudson, Sally; Pallais, … - National Bureau of Economic Research (NBER) - 2014

evaluation of a large privately-funded scholarship program for applicants to Nebraska's public colleges and universities. Our …

Persistent link: https://www.econbiz.de/10011119803