Model selection and model averaging are popular approaches for handling modeling uncertainties. The existing literature offers a unified framework for variable selection via penalized likelihood and the tuning parameter selection is vital for consistent selection and optimal estimation. Few...

Parents invest in their children's human capital in several ways. We investigate the extent to which the levels and composition of parent-child time varies across countries with different welfare regimes: Finland, Germany and the United States. We test the hypothesis of parentchild time as a...