Showing 1 - 10 of 201
Persistent link: https://www.econbiz.de/10003786286
This paper examines the relationship between real estate prices during the home price boom from the late 1990s into 2005 and competition among mortgage lenders. The mortgage lending business, especially with the rise of the originate-to-distribute model, had competitors with very different...
Persistent link: https://www.econbiz.de/10003786287
In addition to their direct effects, episodes of financial instability may decrease investor confidence. Measuring the impact of a crisis on investor confidence is complicated by the fact that it is difficult to disentangle the effect of investor confidence from coincident direct effects of the...
Persistent link: https://www.econbiz.de/10003786288
Rich people, women, and healthy people live longer. We document that this heterogeneity in life expectancy is large, and we use an estimated structural model to assess its effect on the elderly’s saving. We find that the differences in life expectancy related to observable factors such as...
Persistent link: https://www.econbiz.de/10003786290
I analyze remittance behavior among new legal immigrants in the US using the 2003 New Immigrant Survey (NIS), a nationally representative survey of immigrants admitted to legal permanent residency in 2003. I use the NIS to address data limitations common to empirical remittance studies, such as...
Persistent link: https://www.econbiz.de/10003786292
One literature documents a significant, black-white gap in average test scores, while another finds a substantial narrowing of the gap during the 1980’s, and stagnation in convergence after. We use two data sources – the Long Term Trends NAEP and AFQT scores for the universe of applicants to...
Persistent link: https://www.econbiz.de/10003786294
In a seminal paper Gibbons and Katz (1991; GK) develop and empirically test an asymmetric information model of the labor market. The model predicts that wage losses following displacement should be larger for layouts than for plant closings, which was borne out by data from the Displaced Workers...
Persistent link: https://www.econbiz.de/10003773539
Structural change involves a broad set of trends: (i) sectoral reallocations, (ii) rich movements of productive activities between home and market, and (iii) an increase in the scale of productive units. After extending these facts, we develop a model to explain them within a unified framework....
Persistent link: https://www.econbiz.de/10003774088
In this article, we review the empirical evidence on the impact of education vouchers on student achievement, and briefly discuss the evidence from other forms of school choice. The best research to date finds relatively small achievement gains for students offered education vouchers, most of...
Persistent link: https://www.econbiz.de/10003774091
"This paper investigates the nature of U.S. fiscal policy in the aftermath of 9/11. We argue that the recent dramatic fall in the government surplus and the large fall in tax rates cannot be accounted for by either the state of the U.S. economy as of 9/11 or as the typical response of fiscal...
Persistent link: https://www.econbiz.de/10002685015