In the absence of typical exclusion restrictions, covariance restrictions are used to obtain estimates of the effects of children on household behaviour. Using data from the PSID on two age samples, children are found to have a significant impact on many household decisions. However, while in...

China has recently undergone a series of reforms on higher education aimed at raising the level of human capital. However, relatively little is known about returns to higher education (i.e. college premium) and how it varies across population in China over time. In this paper, we contribute to...

This paper studies the impact of mortgages on consumer debt and on debt on durable goods. Outstanding debt, representing mortgages, affects positively consumer debt, and the debt on durable goods. This hypothesis is empirically tested for the U.S. using PSID 2005 wave. Our results are striking....

We compare several income distributions in urban China in the late 1980s and mid-1990s using tests for stochastic dominance in order to decompose gender differentials. Examination of the entire distribution gives insight into the uniformity of such differentials across the distribution....

Are elected politicians primarily motivated by holding office, thus choosing environmental policies accordingly? Or are they motivated by the chance to implement their preferred environmental policies? Do governors have character, in the sense that they promise and implement environmental...