This paper estimates the probabilities of occupational choices for a panel of British children as a function of earnings and socioeconomic background variables. Copyright 1990 by Royal Economic Society.

With diminishing returns to the peer group, it is optimal social policy to mix children in schools. We consider what happens when, contrary to the outcome being determined by a social planner, schools and children are free to seek each other out: with some caveats, this leads to perfect...

This paper describes a method for estimating panels by imposing a factor structure on the residuals. The method allows SUR estimation of panel models by providing a full-rank estimator of the system covariance matrix when the usual estimate is rank-deficient. We charactersie completely the...

This paper investigates the effect of minimum wages on employment using a panel of US state-based data. We estimate a minimalist dynamic version of the specification implied by neo-classical theory. We find statistically and economically significant effects of minimum wages on youth employment....

We study the biases that are likely to arise in practice with panel data when parameters vary across individuals, but this is not allowed for in estimation. We consider both stationary and non-stationary regressors. We find that biases can be severe for relatively small parameter variation, and...

This paper derives the ex ante paths of the future expected short (one period) real interest rates at quarterly frequency from observations on the prices of a set of U.K. index-linked bonds. These rates are used to investigate the impact of monetary policy and the nature of expectations...

This paper estimates an educational production function. Educational attainment is a function of peer group, parental input and schooling. Conventional measures of school quality are not good predictors for academic attainment, once we control for peer group effects; parental qualities also have...

This paper characterises completely the circumstances in which maximum likelihood estimation of the factor model is feasible when the sample covariance matrix is rank deficient. This situation will arise when the number of variables exceeds the number of observations.

This paper considers the effect of how children pass time before entrance to school on attainment in primary school. We find in National Child Developement Study data that Children perform marginally better at 7 and 11 if they spent time with their mother, or at a prre-school, rather than in...