This paper proposes two related measures of educational inequality: one for educational achievement and another for educational opportunity. The former is the simple variance (or standard deviation) of test scores. Its selection is informed by consideration of two measurement issues that have...

In this paper we extend the proportional rule to division problems with multiple references and we present a result of characterization of the weighted proportional rule. As a particular case, we analyze the problems of probability aggregation and probability updating.

Inflation is often assumed to affect all people in the same way. In practice, differences in spending patterns across households and differences in price increases across goods and services lead to unequal levels of inflation for different households. In this paper, we measure the degree of...

Micro-econometric intra-cohort profitability analyses of pay-as-you-go (PAYG) pension contributions are rare. We use representative employment histories of a birth cohort of German PAYG pension insurants retiring in year 2005 to econometrically examine the determinants of the profitability of...

We present a search-and-matching model of the housing market where potential buyers' willingness to pay is private information and sellers may become desperate as they are unable to sell. A unique steady state equilibrium exists where desperate sellers offer sizeable price cuts and sell faster....

The housing market exhibits a puzzling yet repetitive seasonal boom and bust cycle where prices and trade volume rise in summers and fall in winters. This paper presents a search model that analytically generates the observed deterministic cycle.

This paper studies the distribution of income and wealth in Malta over the period 2010-16, based on three waves of detailed micro-data from the Household Finance and Consumption Survey. This is the first paper that explores the evolution of income and wealth inequality jointly, and over time,...

Over the past two decades consumption inequality has risen within Laos, while absolute poverty incidence halved. The estimated Gini coefficient of private household expenditures per person rose from 0.311 to 0.364. This increase in the sample-based estimate of inequality was statistically...

We use spline interpolation to approximate the subjective cumulative distribution function ofan economic agent over the future realization of a continuous (possibly censored) randomvariable. The method proposed exploits information collected using a small number ofprobability questions on...

Working within the 'distributional approach', this research offers evidence, based on empirical density estimates and modality tests, of past polarization in regional labour productivity in EU-15. Most importantly, it provides evidence on the related ergodic density which suggests that this...