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Learning to Take Risks? The Effect of Education on Risk-Taking in Financial Markets

Black, Sandra; Devereux, Paul J.; Lundborg, Petter; … - C.E.P.R. Discussion Papers - 2015

We investigate whether acquiring more education when young has long-term effects on risk-taking behavior in financial markets and whether the effects spill over to spouses and children. There is substantial evidence that more educated people are more likely to invest in the stock market....

Persistent link: https://www.econbiz.de/10011249373

The Evolution of the Racial Gap in Education and the Legacy of Slavery

Bertocchi, Graziella; Dimico, Arcangelo - C.E.P.R. Discussion Papers - 2011

We study the evolution of racial educational inequality across US states from 1940 to 2000. We show that throughout this period, despite evidence of convergence, the racial gap in attainment between blacks and whites has been persistently determined by the initial gap. We obtain these results...

Persistent link: https://www.econbiz.de/10009399722

The Tower of Babel in the Classroom: Immigrants and Natives in Italian Schools

Ballatore, Rosario Maria; Fort, Margherita; Ichino, Andrea - C.E.P.R. Discussion Papers - 2015

We exploit rules of class formation to identify the causal effect of increasing the number of immigrants in a classroom on natives test scores, keeping class size constant (Pure Composition Effect). We explain why this is a relevant policy parameter although it has been neglected so far. We show...

Persistent link: https://www.econbiz.de/10011145440

Segregation in Education and Labour Market Discrimination: The Role of Peer Beliefs

Levy, Gilat; Razin, Ronny - C.E.P.R. Discussion Papers - 2015

In this paper we examine the long term effects of socialization and segregation in schools, on labour market outcomes. We incorporate a model of “informational” peer influence by which beliefs of pupils are affected by exposure to other pupils’ posterior beliefs. Specifically, we focus on...

Persistent link: https://www.econbiz.de/10011165664

Heterogeneity in Expected Longevities

Pijoan-Mas, Josep; Ríos-Rull, José-Víctor - C.E.P.R. Discussion Papers - 2012

We develop a new methodology to compute differences in the expected longevity of individuals who are in different socioeconomic groups at age 50. We deal with the two main problems associated with the standard use of life expectancy: that people's socioeconomic characteristics evolve over the...

Persistent link: https://www.econbiz.de/10011084175

The Illusion of School Choice: Empirical Evidence from Barcelona

Calsamiglia, Caterina; Güell, Maia - C.E.P.R. Discussion Papers - 2014

School choice aims to improve (1) the matching between children and schools and (2) students’ educational outcomes. Yet …

Persistent link: https://www.econbiz.de/10011084223

Who Chooses Which Private Education? Theory and International Evidence

Bertola, Giuseppe; Checchi, Daniele - C.E.P.R. Discussion Papers - 2013

Private school students do not always perform better in standardized tests. We suggest that this may be explained by … choice of private schooling by less capable students in countries where government schools are better suited to talented … students. To assess the empirical relevance of this mechanism, we exploit cross-country variation in the PISA 2009 survey of …

Persistent link: https://www.econbiz.de/10011084397

Optimal Student Loans and Graduate Tax under Moral Hazard and Adverse Selection

Gary-Bobo, Robert J.; Trannoy, Alain - C.E.P.R. Discussion Papers - 2013

We completely characterize the set of second-best optimal "menus" of student-loan contracts in a simple economy with risky labour-market outcomes, adverse selection, moral hazard and risk aversion. The model combines structured student loans and an elementary optimal income-tax problem à la...

Persistent link: https://www.econbiz.de/10011084475

The Role of Social Networks and Peer Effects in Education Transmission

Bervoets, Sebastian; Calvó-Armengol, Antoni; Zenou, Yves - C.E.P.R. Discussion Papers - 2012

We propose a dynastic model in which individuals are born in an educated or uneducated environment that they inherit from their parents. We study the role of social networks on the correlation in the parent-child educational status independent of any parent-child interaction. We show that the...

Persistent link: https://www.econbiz.de/10011084558

The desegregating effect of school tracking

De Fraja, Gianni; Martinez Mora, Francisco - C.E.P.R. Discussion Papers - 2012

This paper makes the following point: “detracking” schools, that is preventing them from allocating students to classes …

Persistent link: https://www.econbiz.de/10011084711