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Randomized field experiments designed to better understand the production of human capital have increased exponentially over the past several decades. This chapter summarizes what we have learned about various partial derivatives of the human capital production function, what important partial...
Persistent link: https://www.econbiz.de/10012456544
During the last two decades, median instructional spending per full-time equivalent (FTE) student at American 4-year colleges and universities has grown at a slower rate than median spending per FTE student in a number of other expenditure categories including academic support, student services...
Persistent link: https://www.econbiz.de/10012463433
The time that children spend in school varies across countries. Do these differences explain international gaps in pupils' academic achievements? In this paper, I estimate the effects of instructional time on students' achievement using PISA 2006 data, which includes data samples from over 50...
Persistent link: https://www.econbiz.de/10012462428
A new options-pricing formula applies to far-out-of-the money put options on the overall stock market when disaster risk is the dominant force, the size distribution of disasters follows a power law, and the economy has a representative agent with Epstein-Zin utility. In the applicable region,...
Persistent link: https://www.econbiz.de/10012456784
Fixing the investment horizon, the returns to currency carry trades decrease as the maturity of the foreign bonds increases, because the local currency term premia offset the currency risk premia. The time series predictability of foreign bond returns in dollars similarly declines as the...
Persistent link: https://www.econbiz.de/10012459038
accumulated for retirement. This paper addresses three important adjustments channels to dampen these detrimental effects of … ageing: investing abroad, endogenous human capital formation and increasing the retirement age. Although non of these … retirement age has strong effects. Under these adjustments maximum welfare losses of demographic change for households alive in …
Persistent link: https://www.econbiz.de/10012459805
social security incentives on retirement behavior in Belgium, Canada, Denmark, France, Germany, Italy, Japan, The Netherlands …
Persistent link: https://www.econbiz.de/10003851427
that Social Security's induced retirement motive is much more important for explaining differences among European countries … retirement, its generational incidence can be very different than the incidence of a pyramid scheme, even for those countries … where the induced retirement motive is not the dominant one. The possibility of induced retirement also makes it difficult …
Persistent link: https://www.econbiz.de/10012471088
Retirement Around the World. This project, which compares the experiences of a dozen developed countries, was launched in the mid … project document that social security program provisions can create powerful incentives for retirement that are strongly … affect retirement, whether there is a link between older employment and youth unemployment, and whether older individuals are …
Persistent link: https://www.econbiz.de/10012480931
Retirement Around the World. The first phase described the retirement incentives inherent in plan provisions and documented the …
Persistent link: https://www.econbiz.de/10012461938