Formal schooling increases earnings and provides other individual benefits. However, societal benefits of education may exceed individual benefits. Research finds that increased average education levels in an area are correlated with higher earnings, even for locals with relatively little...

This study examines the influence of off-farm employment on production efficiency of farm household in Southwest Nigeria. The study was based on primary data collected from a cross-section of 489 rural farm households, drawn by multi-stage random sampling from Ogun and Oyo States, in Southwest...

Regression models of a dependent variable that take on qualitative values 0 and 1 cannot be interpreted as conventional regression models. The fact that the dependent variable takes on two different values causes some problems in the model. These problems include the fact that the model’s...

While Denmark has fairly flexible labour and product markets in most respects, the housing market stands out with large direct and indirect subsidies for all types of housing and a highly regulated rental market hindering mobility, probably resulting in a mismatch between housing needs and use....

Using a rich database of non-prime mortgages from New York City, we find that census tract level neighborhood characteristics are important predictors of default behavior, even after controlling for an extensive set of controls for loan and borrower characteristics. First, default rates increase...

We use annual, quarterly and monthly data from the US to show that the correlation between housing prices and transaction volume (number of existing houses sold) differs across different frequencies. While the correlation is high at the low frequencies it declines to the levels close to zero at...

This paper analyzes the role of stochastic uncertainty in a multi-sector housing model with financial frictions. We include time varying uncertainty (i.e. risk shocks) in the technology shocks that affect housing production and provide estimates of the time-series properties of risk shocks by...

The subject of this study is income polarization, an important but neglected dimension of income distribution. Estimates of two measures of income polarization are obtained for the population, rural, and urban sectors using household survey data on expenditures per capita for a sample of Asian...

In direct contrast to conventional wisdom and most economic models of marital age gaps, we present robust evidence that men and women who are married to differently aged spouses are negatively selected. Empirical results show lower cognitive ability, lower educational attainment, lower...

We investigate how prenatal economic fluctuations affected birth weight in Argentina during the period from January 2000 to December 2005 and document its procyclicality. We find evidence that the birth weight of children born to low-educated (less than high school) mothers is sensitive to...