This paper characterizes heterogeneity of the beliefs of American households about future stock market returns, provides an explanation for that heterogeneity and establishes its relationship to stock holding behavior. We find substantial belief heterogeneity that is puzzling since households...

Using data on children whose parents lost their jobs during the post-communist transition of Hungary, we address the causal effect of unexpected long-term unemployment of parents on their children's educational achievement. We estimate the effect of the children's age at the time of their...

Using all of the available data on the ethnic composition of Hungarian primary schools, this paper documents the degree of between-school segregation of Roma versus non-Roma students between 1980 and 2011. We calculate the measures of segregation within school catchment areas as well as within...

This paper evaluates the kindergarten attendance allowance program in Hungary, a conditional cash transfer (CTT) program introduced in 2009 that aimed to increase kindergarten enrollment of disadvantaged children aged 3 and 4. Administration of the program was decentralized, and we make use of...

The distribution of Roma and non-Roma students across schools has become considerably more unequal in Hungary since the 1980's. This paper analyzes the effect of school choice and local educational policies on that inequality, known as school segregation, in 100 Hungarian towns. We combine...

The Hungarian Labour Market Yearbooks series was launched in 2000 with the support of the National Employment Non-Profit Public Company Ltd. The yearbook presents the main characteristics of Hungarian employment policy and features an indepth analysis of a topical issue each year. The editorial...

The original goal of our labour market yearbooks is to review annually the main developments in the Hungarian labour market and to give an in-depth analysis on selected issues. Experiences accumulated through the publication of the previous volumes (seven in Hungarian and five in English) and...