This paper describes Japan's efforts to reform its high schools by eliminating the hierarchy among high schools, and we identify some unintended consequences of these reforms. We find that these reforms are associated with the defection of the most able students from the public schools and with...

This article uses the German case as the main point of reference for exploring the new dynamics of labor politics in northern Europe in a changing global economy. In contrast to the prevailing wisdom that employers are strengthened by increased capital mobility, we argue that globalization...

"All students" is a prominent headline in recent instructional reforms as professional associations and federal and state policy-makers argue for more academically rigorous instruction for all students. In this paper, the author analyzes these reform aspirations from the perspective of reformers...

This paper reviews, reevaluates, and extends the social network as an analytical concept in international migration. Researchers give much weight to the importance of the immigrant social network in explaining migration flows, but they have neither specified what the network is, showed how it...

Using a structural embeddedness approach, we present arguments and evidence on the ways social capital affects the operation of financial capital markets in the context of the small business loan market. We posit that the quality of a relationship between a bank and a corporate borrower, as well...

We provide a test for statistical discrimination or "rational" stereotyping in environments in which agents learn over time. Our application is to the labor market. If profit maximizing firms have limited information about the general productivity of new workers, they may choose to use easily...

A negative effect of immigration on natives' wages or incomes has been difficult to detect over the last 25 years. Such an impact has been observed at the turn of the century, however. This difference could result either from a genuine change in the impact of immigration or from differences...

This study investigated whether social embeddedness affects governance costs in loan contracts among midmarket banks and firms‹a lucrative yet understudied financial market. Drawing on social embeddedness theory, this paper makes the argument that embedding commercial transactions in social...

The magnitude and determinants of country and currency risk premia are of considerable importance to investors and policymakers. Unique data on peso and dollar denominated debt issued by the Mexican government is used to identify and analyze the intertemporal prices of country and currency risk,...

Why did commercialization of the Internet develop so well? This paper examines events in the Internet access market as a window on this broad question. The study emphasizes four themes. First, commercializing Internet access did not give rise to many of the anticipated technical and operational...