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How risky is investment in human capital?

Hartog, Joop; Ophem, Hans van; Bajdechi, Simona Maria - 2004

The risk of investment in schooling has largely been ignored. We assess the variance in the rate of return by surveying the international empirical literature from this fresh perspective and by simulating risky earnings profiles in alternative options, choosing parameters on basis of the very...

Persistent link: https://www.econbiz.de/10011450523

Educational and wage risk : social insurance vs. quality of education

Schindler, Dirk; Weigert, Benjamin - 2008

In this model of education, where individuals are exposed both to educational risk and to wage risk within the skilled sector, successful graduation depends both on individual effort to study and on public resources. We show that insuring the present risks is a dichotomic task: Wage risk is...

Persistent link: https://www.econbiz.de/10003806025

Estimation of welfare effects in hedonic difference-in-differences : the case in school redistricting

Ding, Xiaozhou; Bollinger, Christopher R.; Clark, Michael; … - 2023

The difference-in-differences (DID) approach that identifies the capitalization of amenities through changes in housing prices has been widely used in the literature of hedonic estimation in the past decade. However, concerns have been raised about how to interpret the estimated capitalization...

Persistent link: https://www.econbiz.de/10014391280

How do school district boundary changes and new school proposals affect housing prices

Ding, Xiaozhou; Bollinger, Christopher R.; Clark, Michael; … - 2020

In the past fifty years, a voluminous literature estimating the value of schools through capitalization in home prices has emerged. Prior research has identified capitalized value using various approaches including discontinuities caused by boundaries. We use changes in school boundaries and the...

Persistent link: https://www.econbiz.de/10012158709

Why do buyers pay different prices for comparable products? : evidence from the housing market

Siebert, Ralph; Seiler, Michael J. - 2020

We focus on the housing market and examine why nonlocal home buyers (NLBs) pay 15 percent more for houses than local home buyers (LBs). We estimate a housing demand model that returns heterogeneous willingness to pay parameters for housing attributes. Our results show that NLBs are willing to...

Persistent link: https://www.econbiz.de/10012225430

Too late to buy a home? : school redistricting and the timing and extent of capitalization

Ding, Xiaozhou; Bollinger, Christopher R.; Clark, Michael; … - 2022

In the past fifty years, a voluminous literature estimating the value of schools through capitalization in home prices has emerged. Prior research has identified capitalization using a variety of approaches including discontinuities caused by boundaries. Here, we use changes in school boundaries...

Persistent link: https://www.econbiz.de/10013167220

Asymmetric information renders minimum wages less harmful

Schöb, Ronnie; Thum, Marcel - 2009

information. -- minimum wages ; unemployment ; asymmetric information ; labour market regulation …

Persistent link: https://www.econbiz.de/10003833327

Wage rigidity, institutions, and inflation

Holden, Steinar; Wulfsberg, Fredrik - 2009

, high-wage workers are replaced by young low-wage workers. DNWR may also lead to a positive growth in aggregate wages … because of changes in relative wages. We explore industry data for 19 OECD countries, over the period 19712006. We find …

Persistent link: https://www.econbiz.de/10003808631

Contracts, fairness, and incentives

Fehr, Ernst; Klein, Alexander; Schmidt, Klaus M. - 2004

We show experimentally that fairness concerns may have a decisive impact on both the actual and the optimal choice of contracts in a moral hazard context. Explicit incentive contracts that are optimal according to self-interest theory become inferior when some agents value fairness. Conversely,...

Persistent link: https://www.econbiz.de/10011449534

Wage formation under low inflation

Holden, Steinar - 2004

happened had inflation been higher. Second, wages (and prices) are given in nominal contracts, and inflation affects both how … often wages are adjusted, and to what extent wages are set in a forward-looking manner. Third, incomplete labour contracts … accept a rise in nominal wages. Fourth, if effort depends on wages relative to a reference level, and workers and firms …

Persistent link: https://www.econbiz.de/10011450344