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Household Finances and Social Interaction: Bayesian Analysis of Household Panel Data
Brown, Sarah; Ghosh, Pulak; Taylor, Karl - Institute for the Study of Labor (IZA) - 2014
the household balance sheet, i.e. liabilities and assets. Additionally, we allow the influence of social interaction on … types of debt and financial assets held conditional on holding the different types of debt and assets. The analysis suggests … assets and liabilities. Our analysis also suggests that social interaction is associated with households holding larger …
Persistent link: https://www.econbiz.de/10010959752
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Separating Uncertainty from Heterogeneity in Life Cycle Earnings
Cunha, Flavio; Heckman, James; Navarro, Salvador - Institute for the Study of Labor (IZA) - 2004
This paper develops and applies a method for decomposing cross section variability of earnings into components that are forecastable at the time students decide to go to college (heterogeneity) and components that are unforecastable. About 60% of variability in returns to schooling is...
Persistent link: https://www.econbiz.de/10005822068
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A New Framework for the Analysis of Inequality
Cunha, Flavio; Heckman, James - Institute for the Study of Labor (IZA) - 2007
earnings variability are due to uncertainty and which components are due to components of human diversity that are forecastable …
Persistent link: https://www.econbiz.de/10005822493