This paper uses data on a sample of Australian teenagers to test for neighbourhood effects on school dropout rates. The data allows us to test for neighbourhood effects at two different spatial scales. We find that educational composition of the larger neighbourhood can influence the dropout...

This paper creates a pseudo cohort of individuals who left school in the mid-1990s, using Labour Force Survey. The extent of low achievement at school amongst this group is documented, and then the impact of such low achievement on labour force status is estimated. The main focus of the paper is...

Children who grow up in deprived neighborhoods underperform at school and later in life but whether there is a causal link remains contested. This study estimates the short-term effect of very deprived neighborhoods, characterized by a high density of social housing, on the educational...

The skill gap in geographical mobility is entirely driven by workers who report moving for a new job. A natural explanation lies in the large expected surplus accruing to skilled job matches. Just as large surpluses ease the frictions which impede job search in general, they also help overcome...

This paper solves for optimal international portfolio choice in the presence of liquidity constraints and undiversifiable labor income risk. Optimal portfolios are internationally diversified while positive correlation between domestic stock market returns and permanent labor income shocks can...

The most striking difference in corporate-governance arrangements between rich and poor countries is that the latter rely much more heavily on the dynastic family firm, where ownership and control are passed on from one generation to the other. We argue that if the heir to the family firm has no...

The high school exit exam (HSEE) is rapidly becoming a standardized assessment procedure for educational accountability in the United States. I use a unique state-specific dataset to identify the effect of failing the HSEE on the likelihood that a student drops out early based on a Regression...