The Eurosystem and the U.S. Federal Reserve System follow quite different approaches to the execution of monetary policy. The former institution adopts a hands-off approach that largely delegates to depository institutions the task of stabilizing their own liquidity at high frequency. The latter...

While the direct impact of geographic endowments on prosperity is present in all countries, in former colonies, geography has also affected colonization policies and, therefore, institutional outcomes. Using non-colonized countries as a control group, I re-examine the theories put forward by La...

This paper extends the transformed maximum likelihood approach for estimation of dynamic panel data models by Hsiao, Pesaran, and Tahmiscioglu (2002) to the case where the errors are cross-sectionally heteroskedastic. This extension is not trivial due to the incidental parameters problem that...

The European social-welfare model differs from the North American individualistic model in the patterns, more than the overall extent, of ethnic inclusion and exclusion. Focussing on foreigners in Germany and immigrants in Canada as illustrative cases, conventional earnings decomposition...

Die Zunahme atypischer Beschäftigung in Europa geht nicht überall auf Kosten von Vollzeitjobs. Atypische Beschäftigung variiert stark zwischen den Ländern und Bevölkerungsgruppen. In Deutschland arbeiten vor allem junge und geringqualifizierte Menschen in atypischen...

This paper aims to understand how corruption responds to financial incentives and, in particular, it is an attempt to identify the causal impact of a wage loss on the prevalence of corruption in the education sector. Specifically, we exploit the unexpected wage cut in May 2010 that affected all...

We investigate second generation migrants and native children at several stages in the German education system to analyze the determinants of the persistent native-migrant gap. One part of the gap can be attributed to differences in socioeconomic background and another part remains unexplained....

The utilization and reward of the human capital of immigrants in the labor market of the host country has been studied extensively. In the Swedish context this question is of great policy relevance due to the high levels of refugee migration and inflow of tied movers. Using Swedish register data...

This paper exploits an exogenous shift in the trade policy in India to study the impact of industrialization on son preference. Using a difference-in-differences strategy, we find that households are more likely to have a male child in regions with higher trade openness relative to regions with...

This chapter reviews the economics literature on immigrant-native differentials in occupational risk. It begins by briefly explaining the theory of compensating wage differentials. It then provides a more detailed discussion of the empirical evidence on the subject, which reaches several...