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Stay in School or Start Working? - The Human Capital Investment Decision under Uncertainty and Irreversibility
Bilkic, Natasa; Gries, Thomas; Pilichowski, Margarethe - 2021
human capital investment decision. Real option theory offers a new perspective of the human capital investment decision …
Persistent link: https://www.econbiz.de/10013316303
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Estimation of Heterogeneous Agent Models : A Likelihood Approach
Parra-Alvarez, Juan Carlos - 2020
In this paper, we study the statistical properties of heterogeneous agent models with incomplete markets. Using a Bewley-Hugget-Aiyagari model we compute the equilibrium density function of wealth and show how it can be used for likelihood inference. We investigate the identifiability of the...
Persistent link: https://www.econbiz.de/10012853321
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Partially Adaptive Econometric Methods and the Modern Obesity Epidemic
Carson, Scott A. - 2018
Assumptions about explanatory variables and errors are central in regression analysis. For example, the well-known method of ordinary least squares yields consistent and efficient estimators if the underlying error terms are independently, identically, and normally distributed. Additionally, the...
Persistent link: https://www.econbiz.de/10012915193
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Are Short-Lived Jobs Stepping Stones to Long-Lasting Jobs?
Cockx, Bart - 2009
This paper assesses whether short-lived jobs (lasting one quarter or less and involuntarily ending in unemployment) are stepping stones to long-lasting jobs (enduring one year or more) for Belgian long-term unemployed school-leavers. We proceed in two steps. First, we estimate labour market...
Persistent link: https://www.econbiz.de/10012764525
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Student Loans and the Allocation of Graduate Jobs
Cigno, Alessandro - 2015
common knowledge. Graduates and graduate jobs are matched by tournament. In laissez faire, only the rich can buy enough … some of the rich buy too much education, and some of the graduates have lower ability than some of the non-graduates … the same quality are assigned to graduates with the same education but different ability. Competition among employers will …
Persistent link: https://www.econbiz.de/10013026630
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Entrepreneurship and Market Size - The Case of Young College Graduates in Italy
Di Addario, Sabrina Lucia; Vuri, Daniela - 2021
We analyze empirically the effects of urban agglomeration on Italian college graduates’ work possibilities as …
Persistent link: https://www.econbiz.de/10013316181
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Econometric Methods for Causal Evaluation of Education Policies and Practices : A Non-Technical Guide
Schlotter, Martin; Schwerdt, Guido; Woessmann, Ludger - 2021
Education policy-makers and practitioners want to know which policies and practices can best achieve their goals. But research that can inform evidence-based policy often requires complex methods to distinguish causation from accidental association. Avoiding econometric jargon and technical...
Persistent link: https://www.econbiz.de/10013316275
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Implementation of Communication Equilibria by Correlated Cheap Talk : The Two-Player Case
Vida, Peter - 2011
We show that essentially every communication equilibrium of any finite Bayesian game with two players can be implemented as a strategic form correlated equilibrium of an extended game, in which before choosing actions as in the Bayesian game, the players engage in a possibly infinitely long (but...
Persistent link: https://www.econbiz.de/10013128960
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Ageing, Government Budgets, Retirement, and Growth
Gonzalez-Eiras, Martín - 2011
We analyze the short and long run effects of demographic ageing - increased longevity and reduced fertility - on per-capita growth. The OLG model captures direct effects, working through adjustments in the savings rate, labor supply, and capital deepening, and indirect effects, working through...
Persistent link: https://www.econbiz.de/10013129861
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Emotions in Litigation Contests
Baumann, Florian - 2011
This paper introduces the concept of emotions into the standard litigation contest. Positive (negative) emotions emerge when litigants win (lose) at trial and are dependent in particular on the level of defendant fault. Our findings establish that standard results of litigation contests change...
Persistent link: https://www.econbiz.de/10013129864