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Life in Shackles? The Quantitative Implications of Reforming the Educational Loan System
Heijdra, Ben J.; Kindermann, Fabian; Reijnders, Laurie S. M. - CESifo - 2014
In this paper we conduct a quantitative analysis of a number of stylized educational loan systems. We develop a stochastic general equilibrium model of a closed economy with a competitive firm sector and a government that levies taxes and administers educational loans. Individuals are...
Persistent link: https://www.econbiz.de/10010948864
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The Return to College: Selection Bias and Dropout Risk
Hendricks, Lutz; Leukhina, Oksana - CESifo - 2014
This paper estimates the effect of graduating from college on lifetime earnings. Motivated by the fact that nearly half of all college students fail to earn a bachelor’s degree, we study a model of risky college completion. The central idea is that students drop out of college mainly because...
Persistent link: https://www.econbiz.de/10010757731
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How Risky is College Investment?
Hendricks, Lutz; Leukhina, Oksana - CESifo - 2015
This paper is motivated by the fact that nearly half of U.S. college students drop out without earning a bachelor’s degree. Its objective is to quantify how much uncertainty college entrants face about their graduation outcomes. To do so, we develop a quantitative model of college choice. The...
Persistent link: https://www.econbiz.de/10011165502
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Central School Exit Exams and Labor-Market Outcomes
Piopiunik, Marc; Schwerdt, Guido; Woessmann, Ludger - CESifo - 2012
market and, on rigid labor markets, for unemployment. Exploiting variation in exit-exam systems across German states, we find … market, as well as with lower unemployment. …
Persistent link: https://www.econbiz.de/10010691259
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Unemployment, Growth and Speed of Transition in China
Fidrmuc, Jan; Huang, Shuo - CESifo - 2013
We investigate the relationship between unemployment and growth in China. We find considerable differences in the … find a hump-shaped relationship between unemployment and our proxy for the speed of reform. The current unemployment in …
Persistent link: https://www.econbiz.de/10010877790
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Unemployment and Endogenous Reallocation over the Business Cycle
Carrillo-Tudela, Carlos; Visschers, Ludo - CESifo - 2013
unemployment and its underlying duration distribution. We develop an analytically and computationally tractable stochastic … equilibrium model with heterogenous labor markets. In this model three different types of unemployment arise: search, rest and … reallocation unemployment. We document new evidence on unemployed workers’ gross occupational mobility and use it to calibrate the …
Persistent link: https://www.econbiz.de/10010877858
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The Distributional Consequences of Tax Reforms under Market Distortions
Angelopoulos, Konstantinos; Jiang, Wei; Malley, Jim - CESifo - 2011
In this paper we examine the importance of imperfect competition in product and labour markets in determining the long-run welfare effects of tax reforms assuming agent heterogeneity in capital holdings. Each of these market failures, independently, results in welfare losses for at least a...
Persistent link: https://www.econbiz.de/10009325806
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Unemployment and Finance: How do Financial and Labour Market Factors Interact?
Gatti, Donatella; Rault, Christophe; Vaubourg, Anne-Gael - CESifo - 2009
interact to determine unemployment by estimating a dynamic panel model using the system generalized method of moments (GMM). We … as well as decreased banking concentration reduce unemployment if the level of labour market regulation, union density …
Persistent link: https://www.econbiz.de/10008596580
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Labour Market Institutions and Unemployment. An International Comparison
Flaig, Gebhard; Rottmann, Horst - CESifo - 2011
This paper deals with the effects of labour market institutions on unemployment in a panel of 19 OECD countries for the … of the unemployment rate. Our novel contribution is the estimation of panel models where we allow for heterogeneous … effects of institutions on unemployment. Our main results are that on the average a tighter employment protection, a higher …
Persistent link: https://www.econbiz.de/10009278129
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Imperfect Competition, General Equilibrium and Unemployment
Gersbach, Hans; Schniewind, Achim - CESifo - 1999
levels of unemployment. We consider a general equilibrium model where firms in one sector compete à la Cournot and a real … wage rigidity leads to unemployment. If firms consider only partial equilibrium effects when choosing quantities, the …
Persistent link: https://www.econbiz.de/10005766055