Using different econometric specifications this paper analyzes the relationship between the time parents spend with their children, child-related expenditure and the results obtained by them, with particular attention to gender differences. The authors use PSID-CDS data from 1997 to 2007 and...

Good governance or “government effectiveness” (per the World Bank) is seen as a critical factor for the wealth of nations insofar as it shapes political and economic institutions and affects overall economic performance. The quality of governance, in turn, depends on the attributes of the...

Resumen: Un modelo switching aplicado a información de la encuesta ENNViH 2002 evidencia diferencias significativas en la formación de habilidad cognitiva infantil através de los estratos sociales mexicanos. Un pequeño conjunto de variables de política pública y de características...

In The Bell Curve, Herrnstein and Murray (1994) claim, based on evidence from cross-sectional regressions, that differences in wages in the U.S. labor market are predominantly explained by general intelligence. Cawley, Heckman, and Vytlacil (1999), using evidence from random effects panel...

Cognitive and non-cognitive skills are important determinants of labor market outcomes, but are often unobserved. We propose a proxy for these skills derived from item non-response information and a procedure to test its validity. Exploiting a unique data-collection feature of an Australian...

Risk theories typically assume individuals make risky choices using probability weights that differ from objective probabilities. Recent theories suggest that probability weights vary depending on which portion of a risky environment is made salient. Using experimental data we show that salience...

Since the early 2000s, the importance of financial literacy for safe financial behaviors has increased in public debate and has been the motivation for several national and international institutions to launch and promote financial education initiatives. Although discussion on the effects of...

We analyze interaction effects of birth weight and the business cycle at birth on individual cardiovascular (CV) mortality later in life. In addition, we examine to what extent these long-run effects run by way of cognitive ability and education and to what extent those mitigate the long-run...

We introduce the notion of strategic awareness in experimental games which captures the idea that subjects realize they are playing a game and thus have to form beliefs about others' actions in order to play well. The concept differs from both, rule understanding and rationality. We then turn to...

We aim to disentangle the relative contributions of (i) cognitive ability, and (ii) education on health and mortality using a structural equation model suggested by Conti et al. (2010). We extend their model by allowing for a duration dependent variable, and an ordinal educational variable. Data...