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Did US Consumers 'Save for a Rainy Day' Before the Great Recession?

Anundsen, André Kallåk; Nymoen, Ragnar - CESifo - 2015

The ‘saving for a rainy day’ hypothesis implies that households’ saving decisions reflect that they can (rationally) predict future income declines. The empirical relevance of this hypothesis plays a key role in discussions of fiscal policy multipliers and it holds under the null that the...

Persistent link: https://www.econbiz.de/10011278934

How Strong is the Case for Dollarization in Costa Rica? A Note on the Business Cycle Comovements with the United States

Lindenberg, Nannette; Westermann, Frank - CESifo - 2009

We evaluate the proposal for official dollarization in Costa Rica by applying a new approach to measure the business cycle comovements with the United States. While the literature often focuses on the correlation of shocks, we point out that the response of each country to the shocks is also an...

Persistent link: https://www.econbiz.de/10008583698

Socio-Political Conflict and Economic Performance in Bolivia

Evia, Jose-Luis; Laserna, Roberto; Skaperdas, Stergios - CESifo - 2008

away from production, tends to reduce investment and could therefore reduce economic growth. We first review the … trade – and economic growth that is due to productive investment. Growth due to external factors tends to be positively … related to conflict, whereas growth due to productive investment should be negatively related to conflict. Finally, we discuss …

Persistent link: https://www.econbiz.de/10005405932

The Impact of an Unexpected Wage Cut on Corruption: Evidence from a "Xeroxed" Exam

Borcan, Oana; Lindahl, Mikael; Mitrut, Andreea - CESifo - 2012

This paper aims to understand how corruption responds to an income loss. We exploit an unexpected 25% wage cut incurred in 2010 by all Romanian public sector employees, including the public education staff. We investigate a corruptible high-stake exam taking place shortly after the wage...

Persistent link: https://www.econbiz.de/10010598916

Cross-Country Evidence on Teacher Performance Pay

Woessmann, Ludger - CESifo - 2010

The general-equilibrium effects of performance-related teacher pay include long-term incentive and teacher-sorting mechanisms that usually elude experimental studies but are captured in cross-country comparisons. Combining country-level performance-pay measures with rich PISA-2003 international...

Persistent link: https://www.econbiz.de/10008511595

Music in the Air: Estimating the Social Return to Cultural Amenities

Falck, Oliver; Fritsch, Michael; Heblich, Stephan; … - CESifo - 2015

If being around smart people makes us smarter and more productive, what can regions do to attract smart people? This paper considers endogenous cultural amenities as a location factor for high-skilled workers. To overcome selection in the provision of cultural amenities, we exploit the variation...

Persistent link: https://www.econbiz.de/10011155376

'High' Achievers? Cannabis Access and Academic Performance

Marie, Olivier; Zölitz, Ulf - CESifo - 2015

This paper investigates how legal cannabis access affects student performance. Identification comes from an exceptional policy introduced in the city of Maastricht which discriminated legal access based on individuals’ nationality. We apply a difference-in-difference approach using...

Persistent link: https://www.econbiz.de/10011257664

Lobbying for Education in a Two-sector Model

Gioacchino, Debora Di; Profeta, Paola - CESifo - 2011

In a two-period model, firms specialized in two different sectors lobby to induce the government to subsidize the type of education complementary to their production. Lobbying is endogenous. We show that, if lobbying is not costly, both sectors will lobby in equilibrium and education policy will...

Persistent link: https://www.econbiz.de/10009020097

Shutting the Stable Door after the Horse Has Bolted? On Educational Risk and the Quality of Education

Schindler, Dirk; Weigert, Benjamin - CESifo - 2011

We analyze whether a redistributive government should provide ex ante insurance against unfortunate outcomes or whether it should instead rely on transfers for redistributing income ex post. To this end, we develop a model of education in which individuals face educational risk and wage...

Persistent link: https://www.econbiz.de/10009021236

Does School Autonomy Make Sense Everywhere? Panel Estimates from PISA

Hanushek, Eric A.; Link, Susanne; Woessmann, Ludger - CESifo - 2011

Decentralization of decision-making is among the most intriguing recent school reforms, in part because countries went in opposite directions over the past decade and because prior evidence is inconclusive. We suggest that autonomy may be conducive to student achievement in well-developed...

Persistent link: https://www.econbiz.de/10009371359

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