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Private Information, Human Capital, and Optimal "Home Bias" in Financial Markets
Ehrlich, Isaac; Shin, Jong Kook; Yin, Yong - Institute for the Study of Labor (IZA) - 2011
By allowing for imperfectly informed markets and the role of private information, we offer new insights about observed deviations of portfolio concentrations in domestic relative to foreign risky assets, or "home bias", from what standard finance models predict. Our model ascribes the "bias" to...
Persistent link: https://www.econbiz.de/10009359859
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The Effects of Credit Status on College Attainment and College Completion
Gicheva, Dora; Ionescu, Felicia; Simpson, Nicole B. - Institute for the Study of Labor (IZA) - 2012
College students now use various forms of unsecured credit such as private student loans and credit cards to finance college. Access to these credit lines and the interest rates charged on these loans can vary significantly across credit scores. In this paper, we analyze if credit status, as...
Persistent link: https://www.econbiz.de/10010559021
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Risk Management among the Poor: The Case of Microfinancial Services
Arun, Thankom; Bendig, Mirko - Institute for the Study of Labor (IZA) - 2010
This paper argues that the level of financial services provision determines the risk management strategies among the poor. The paper estimates the determinants of the household’s use of one, two or all three types of microfinancial services applying ordered probit models and additionally...
Persistent link: https://www.econbiz.de/10008564688
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Local Employment Growth in West Germany: A Dynamic Panel Approach
Blien, Uwe; Suedekum, Jens; Wolf, Katja - Institute for the Study of Labor (IZA) - 2005
In this paper we study the dynamics of local employment growth in West Germany from 1980 to 2001. Using dynamic panel … local industries. Diversity has a positive effect on employment growth in the short run, which is stronger in manufacturing … growth emphasizes itself. But there is considerable inertia in this process. A positive effect of education is only found in …
Persistent link: https://www.econbiz.de/10005822374
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Schooling and Citizenship: Evidence from Compulsory Schooling Reforms
Siedler, Thomas - Institute for the Study of Labor (IZA) - 2007
This paper examines whether schooling has a positive impact on individual's political interest, voting turnout, democratic values, political involvement and political group membership, using the German General Social Survey (ALLBUS). Between 1949 and 1969 the number of compulsory years of...
Persistent link: https://www.econbiz.de/10005822476
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Transfer Fee Regulations in European Football
Feess, Eberhard; Muehlheusser, Gerd - Institute for the Study of Labor (IZA) - 2002
We analyze the impact of three different transfer fee systems on payoffs, contract lengths, training and effort incentives in European football. The different regimes, being used until 1995 ("Pre-Bosman" or P), currently in use ("Bosman" or B), and recently approved ("Monti" or M) differ with...
Persistent link: https://www.econbiz.de/10005822693
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Why Should State Government Invest in College Education? An Equilibrium Approach for the US in 2000
Shields, Michael P. - Institute for the Study of Labor (IZA) - 2008
the existence of these positive externalities for the US in 2000 in estimates using the Current Population Survey …
Persistent link: https://www.econbiz.de/10005822993
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Market Distortions and Local Indeterminacy: A General Approach
Lloyd-Braga, Teresa; Modesto, Leonor; Seegmuller, Thomas - Institute for the Study of Labor (IZA) - 2011
We provide a methodology to study the role of market distortions on the emergence of indeterminacy and bifurcations. Most of the specific market imperfections considered in the related literature are particular cases of our framework. Comparing them we obtain several equivalence results in terms...
Persistent link: https://www.econbiz.de/10008922965
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The Economics of Risky Health Behaviors
Cawley, John; Ruhm, Christopher J. - Institute for the Study of Labor (IZA) - 2011
Risky health behaviors such as smoking, drinking alcohol, drug use, unprotected sex, and poor diets and sedentary lifestyles (leading to obesity) are a major source of preventable deaths. This chapter overviews the theoretical frameworks for, and empirical evidence on, the economics of risky...
Persistent link: https://www.econbiz.de/10009024597
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Estimating Equilibrium Effects of Job Search Assistance
Gautier, Pieter A.; Muller, Paul; van der Klaauw, Bas; … - Institute for the Study of Labor (IZA) - 2012
Randomized experiments provide policy relevant treatment effects if there are no spillovers between participants and nonparticipants. We show that this assumption is violated for a Danish activation program for unemployed workers. Using a difference-in-difference model we show that the...
Persistent link: https://www.econbiz.de/10011122194