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We study the relation between households' stock purchases and stock purchases made by their neighbors. A ten percentage point increase in neighbors' purchases of stocks from an industry is associated with a two percentage point increase in households' own purchases of stocks from that industry....
Persistent link: https://www.econbiz.de/10012465452
Using data on stock purchases individual investors made through a discount broker from 1991 to 1996, we study information diffusion effects the relation between household investment choices and those made by their neighbors. A ten percentage point increase in neighbors' purchases of stocks from...
Persistent link: https://www.econbiz.de/10012468257
knowledge. This simple idea can inform cross-country income differences, international trade patterns, poverty traps, and price …
Persistent link: https://www.econbiz.de/10012464508
The behavioral revolution within economics has been largely driven by psychological insights, with the sister sciences playing a lesser role. This study leverages insights from sociology to explore the role of neighborhoods on human capital formation at an early age. We do so by estimating the...
Persistent link: https://www.econbiz.de/10012482501
The socioeconomic performance of today's workers depends not only on parental skills, but also on the average skills of the ethnic group in the parent's generation (or ethnic capital). This paper investigates the link between the ethnic externality and ethnic neighborhoods. The evidence...
Persistent link: https://www.econbiz.de/10012473992
This chapter reviews the recent debate about the role of social capital in economics. We argue that all the difficulties this concept has encountered in economics are due to a vague and excessively broad definition. For this reason, we restrict social capital to the set of values and beliefs...
Persistent link: https://www.econbiz.de/10012462807
Traditional human capital theory emphasizes a worker's investment in knowledge. However, when a worker is faced with …
Persistent link: https://www.econbiz.de/10012463031
The United States led all other nations in the development of universal and publicly-funded secondary school education and much of the growth occurred from 1910 to 1940. The focus here is on the reasons for the high school movement' in American generally and why it occurred so early and swiftly...
Persistent link: https://www.econbiz.de/10012472366
Few empirical strategies have been developed that investigate public provision under majority rule while taking explicit account of the constraints implied by mobility of households. The goal of this paper is to improve our understanding of voting in local communities when neighborhood quality...
Persistent link: https://www.econbiz.de/10012466951
Families, primarily female-headed minority households with children, living in high-poverty public housing projects in … random assignment, families offered vouchers lived in safer neighborhoods that had lower poverty rates than those of the … types and cities, that the relationship between neighborhood poverty rate and outcomes is approximately linear …
Persistent link: https://www.econbiz.de/10012467101