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The Correlation between Health and Schooling

Grossman, Michael - 2022

discuss alternative explanations of the correlation between health and schooling. The second is to test these explanations …

Persistent link: https://www.econbiz.de/10014158867

Alcohol Abuse and Suicide Attempts Among Youth - Correlation or Causation?

Chatterji, Pinka; Dave, Dhaval; Kaestner, Robert; … - 2021

This study uses the Youth Risk Behavior Survey (YRBS) and the National Comorbidity Survey (NCS) to explore the causal relationship between alcohol abuse (binge drinking and clinically defined alcohol use disorders) and suicide attempts among youth. We use an empirical approach that allows one to...

Persistent link: https://www.econbiz.de/10013230169

Ancestry, Language and Culture

Spolaore, Enrico - 2015

We explore the interrelationships between various measures of cultural distance. We first discuss measures of genetic distance, used in the recent economics literature to capture the degree of relatedness between countries. We next describe several classes of measures of linguistic, religious,...

Persistent link: https://www.econbiz.de/10013021474

International Risk Sharing in the Short Run and in the Long Run

Baxter, Marianne - 2011

International risk-sharing has far-reaching implications both for economic policy and for basic research in economics. When countries do not share risk, individuals in those countries experience fluctuations in their consumption levels that are undesirable and possibly unnecessary. This paper...

Persistent link: https://www.econbiz.de/10013129220

On the Correlation Structure of Microstructure Noise : A Financial Economic Approach

Diebold, Francis X. - 2010

volatility estimation. In particular, we use market microstructure theory to derive the cross-correlation function between latent … returns and market microstructure noise, which feature prominently in the recent volatility literature. The cross-correlation … geometrically. If market makers are sufficiently risk averse, however, the cross-correlation pattern is inverted. Our results are …

Persistent link: https://www.econbiz.de/10013137011

Testing the Correlated Random Coefficient Model

Heckman, James J. - 2012

The recent literature on instrumental variables (IV) features models in which agents sort into treatment status on the basis of gains from treatment as well as on baseline-pretreatment levels. Components of the gains known to the agents and acted on by them may not be known by the observing...

Persistent link: https://www.econbiz.de/10013116685

The Lucas Orchard

Martin, Ian - 2011

This paper investigates the behavior of asset prices in an endowment economy in which a representative agent with power utility consumes the dividends of multiple assets. The assets are Lucas trees; a collection of Lucas trees is a Lucas orchard. The model generates return correlations that vary...

Persistent link: https://www.econbiz.de/10013118845

Estimating the Effects of Large Shareholders Using a Geographic Instrument

Becker, Bo - 2011

Large shareholders may play an important role for firm performance and policies, but identifying this empirically presents a challenge due to the endogeneity of ownership structures. We develop and test an empirical framework which allows us to separate selection from treatment effects of large...

Persistent link: https://www.econbiz.de/10013120315

Hybrid Tail Risk and Expected Stock Returns : When Does the Tail Wag the Dog?

Bali, Turan G. - 2013

We introduce a new, hybrid measure of stock return tail covariance risk, motivated by the under-diversified portfolio holdings of individual investors, and investigate its cross-sectional predictive power. Our key innovation is that this covariance is measured across the left tail states of the...

Persistent link: https://www.econbiz.de/10013075854

International Asset Allocation with Time-Varying Correlations

Bekaert, Geert - 2008

It is widely believed that correlations between international equity markets tend to increase in highly volatile bear markets. This has led some to doubt the benefits of international diversification. This article solves the dynamic portfolio choice problem of a US investor faced with a...

Persistent link: https://www.econbiz.de/10012774819

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