In this Paper we extend the standard human capital earnings function to include dispersion in the rate of return to schooling by treating the return as a random coefficient. One motivation is that if dipping further into the ability distribution has brought about the increase in supply of...

This paper examines the empirical analysis of treatment effects on duration outcomes from data that contain instrumental variation. We focus on social experiments in which an intention to treat is randomized and compliance may be imperfect. We distinguish between cases where the treatment starts...

Instrumental variables methods (IV) are widely used in the health economics literature to adjust for hidden selection biases in observational studies when estimating treatment effects. Less attention has been paid in the applied literature to the proper use of instrumental variables if treatment...

This paper studies the link between productivity, innovation and research and development investments at the firm level. We introduce three new features: (i) A structural model that explains productivity by innovation output, and innovation output by research and development investments; (ii)...

In this paper an econometric analysis of the domestic tourism demand of households in Sweden is performed. To model the demand for tourism of households within Sweden, a two-staged budgeting model is used. The micro-economic data that are used come from the Tourism and Travel Database, which is...

The objectives of this paper are to examine the traditional determinants of interregional migration between regions of Germany after reunification in 1989. The period considered is 1993-95 as the high average migratory flows of the earlier period, 1989-92, had settled down to a level of about...

This paper analyzes the relationship between capital structure, corporate taxation and firm age. We adapt a standard model of optimal capital structure choice under corporate taxation, focusing on the financing and investment decisions a young firm is typically faced with. Our model allows to...

Most of the existing literature on the optimal shape of income tax has a common result - decreasing marginal tax rates. This result stands in sharp contrast with real world income tax systems that are characterized by increasing marginal tax rates. Diamond (1998) made explicit the factors that...

The great majority of the theoretical analysis about electoral cycles has considered the national space as the territory of interest for the study of the economic consequences of an electoralist behaviour by the central government. This fact, in conjunction to the nature of the data most...