The Colombian pension reform of 1994 introduced a privately administered defined-contribution programme, which coexists with a reformed public defined-benefit programme. This paper gives an overview of the Colombian pension system and evaluates its performance using four criteria: (1)...

Occupational segregation by gender is prevalent and can explain some of the gender wage gap. I empirically investigate a possible explanation for this segregation: the gender difference in preferences for competition, which in recent experimental studies has been found to affect economic...

The fall of the Berlin Wall in November 1989 resulted in a severe economic downturn and a stark temporary decline in fertility in East Germany. But did it also affect the fertility of future generations? In this paper, I investigate early motherhood - a marker of lifetime disadvantage - of those...

We develop and estimate a panel data model explaining the answers to questions about subjective probabilities, using data from the US Health and Retirement Study. We explicitly account for nonresponse, rounding, and focal point “50 percent” answers. Our results indicate that for three of the...

Standard economic models which focus on pecuniary payo¤s cannot explain why there are highly able individuals who choose careers with low pecuniary re- turns. Therefore, financial incentives are unlikely to be effective in influencing career choices of these individuals. Based on Akerlof and...

Standard economic models which focus on pecuniary payoffs cannot explain why there are highly able individuals who choose careers with low pecuniary returns. Therefore, financial incentives are unlikely to be effective in influencing career choices of these individuals. Based on Akerlof and...

Socioeconomic outcomes of parents and their children are more correlated for sons than for daughters. This paper presents empirical evidence from Denmark that these gender differences result from different transmission mechanisms by separating the effects of parental education and income.

Euler equation estimation of intertemporal consumption models imposes heavy demands on data and identifiability conditions. For example, one typically needs panel data on consumption, assumptions on expectations, and a parameterization of preferences. The authors aim at reducing some of these...

We develop and estimate a panel data model explaining the answers to questions about subjective probabilities, using data from the US Health and Retirement Study. We explicitly account for nonresponse, rounding, and focal point “50 percent” answers. Our results indicate that for three of the...