This paper proposes a decomposition of the composition effect, i.e. the part of the observed between-group difference in the distribution of some economic outcome that can be explained by differences in the distribution of covariates. Our decomposition contains three types of components: (i) the...

The dramatic rise in the U.S. home ownership rate from 64% in 1996 to almost 70% in 2005 has prompted increased attention to the relation between home ownership and demographic characteristics of households. The recent rise and sharp decline of subprime lending will likely spur further interest...

The Asset Liability Management (ALM) process in a bank is multidimensional in nature. The best possible trade off solution for profitability will have to strike an appropriate balance among the key drivers viz., advances, investments, deposits and other income (non-interest income), while...

This paper analyzes the contribution of the socioeconomic and demographic composition of the pool of employed and unemployed individuals to the dynamics of the labor market in different phases of the business cycle. Using individual level data from the Current Population Survey (CPS), we...

Brandner, Diebalek and Köhler-Töglhofer assess fiscal policy in Austria over the period 1976-2004 by decomposing the observed budget balance into: a core balance, estimated by means of an unobserved components model; the effect of automatic fiscal stabilizers (as calculated by the European...

Student loans increase educational opportunities for students from all backgrounds. They have also been criticized as imposing financial and psychological hardships. We employ the data from restricted-use National Surveys of Recent College Graduates to conduct an in-depth investigation of the...

Viewing slacks as one possible source of inefficiency, and that inputs have differential importance in the production process, this paper develops, based on the directional Russell measure of inefficiency, the non-radial Luenberger indicator. This indicator is then shown as the sum of the...