This paper estimates the rate of return to the High/Scope Perry Preschool Program, an early intervention program targeted toward disadvantaged African-American youth. Estimates of the rate of return to the Perry program are widely cited to support the claim of substantial economic benefits from...

This paper analyzes the effectiveness of occupational training programs for the unemployed before and after the substantial amendments in German labor market legislation known as Hartz reforms. Based on the official evaluation of the reforms, we show that program impacts vary much across...

Die Arbeitsmarktreformen der letzten Jahre haben die strukturellen Anpassungsprobleme des deutschen Beschäftigungsmodells zum Teil gelindert - allerdings sind noch längst nicht alle Schwierigkeiten überwunden. Für die Zukunft besteht die zentrale Herausforderung darin, eine...

Using the approach suggested by Gabaix (Econometrica 2011) this paper demonstrates that idiosyncratic shocks in the largest firms are important for an understanding of aggregate volatility in German manufacturing industries. The implications of this finding for theoretical and empirical research...

Previous studies report a wide range of estimates for how female labor supply responds to childcare prices. We shed new light on this question using a reform that raised the prices of public daycare. Parents respond by reducing public daycare and increasing childcare at home. Parents also reduce...

In this paper we evaluate the impact of the old-age part-time scheme (OAPT) on the Austrian labour market which was a policy to allow flexible retirement options for the elderly with an aim to increase labour supply. According to our matching estimates employment probability increases slightly,...

The retirement decision is under researched in developing and emerging countries, despite the topic's close relation to many development issues such as poverty reduction and social security, and despite the fact that population ageing will increasingly challenge the developing world. This paper...