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market. At the same time, education is a time-consuming process, and enrolment and dropout decisions depend on expected … in finding a job. Standard models of job search and education assume that skills can be upgraded instantaneously (and … mostly in the form of on-the-job training) at a fixed cost. This paper models education as a time-consuming process, a …
Persistent link: https://www.econbiz.de/10014061791
market. At the same time, education is a time-consuming process, and enrolment and dropout decisions depend on expected … in finding a job. Standard models of job search and education assume that skills can be upgraded instantaneously (and … mostly in the form of on-the-job training) at a fixed cost. This paper models education as a time-consuming process, a …
Persistent link: https://www.econbiz.de/10003189636
becomes higher but there is no persistence of the supply shock. Higher education prevents this intertemporal multiplication of …
Persistent link: https://www.econbiz.de/10011410676
Given asymmetric information, this paper explores the need for non-tenure-track jobs in academia alongside the usual tenure-track positions. It also explains the coexistence of these two types of jobs in research universities as an equilibrium phenomenon. The increased effort needed to produce...
Persistent link: https://www.econbiz.de/10011820216
Trade unions are consistently found to compress the wage distribution. Moreover, unemployment affects in particular low-skilled workers. The present paper argues that an extended Right-to-Manage model can account for both of these findings. In this model unions compress the wage distribution by...
Persistent link: https://www.econbiz.de/10003422977
We analyze investment decisions when information is costly, with and without delegation to an agent. We use a rational-inattention model and compare it with a canonical signal-extraction model. We identify three "investment conditions". In "sour" conditions, no information is acquired and no...
Persistent link: https://www.econbiz.de/10011667675
We develop new distribution discontinuity tests conditional on multiple explanatory variables for analyzing meet-or-just-beat behavior around benchmarks. These tests combine Burgstahler and Dichev's (1997) meet-or-just-beat intuition with a flexible statistical model that addresses important...
Persistent link: https://www.econbiz.de/10012900083
High breakdown-point regression estimators protect against large errors and data contamination. We generalize the concept of trimming used by many of these robust estimators, such as the least trimmed squares and maximum trimmed likelihood, and propose a general trimmed estimator, which renders...
Persistent link: https://www.econbiz.de/10014066759
We argue in this paper that it is more feasible to use binary variables and logistic regression analyses in the assessments of AIDS incidents o or other similar researches in social science. Thus, even in measuring disease persistence we can reach solid and comprehensive results. Statistical...
Persistent link: https://www.econbiz.de/10014041020
Skewness-based proxies are widely used in accounting and finance research. To study how the skewness of a dependent variable Y varies with conditioning variables X, researchers typically compute firm-specific skewness measures over a short rolling window and regress them on X. However, we show...
Persistent link: https://www.econbiz.de/10013248205