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on Urban and Real Estate Economics |
| By: | Joshua D. Angrist; Parag A. Pathak; Christopher R. Walters |
| Abstract: | Estimates using admissions lotteries suggest that urban charter schools boost student achievement, while charter schools in other settings do not. We explore student-level and school-level explanations for these differences using a large sample of Massachusetts charter schools. Our results show that urban charter schools boost achievement well beyond ambient non-charter levels (that is, the average achievement level for urban non-charter students), and beyond non-urban achievement in math. Student demographics explain some of these gains since urban charters are most effective for non-whites and low-baseline achievers. At the same time, non-urban charter schools are uniformly ineffective. Our estimates also reveal important school-level heterogeneity in the urban charter sample. A non-lottery analysis suggests that urban schools with binding, well-documented admissions lotteries generate larger score gains than under-subscribed urban charter schools with poor lottery records. We link the magnitude of charter impacts to distinctive pedagogical features of urban charters such as the length of the school day and school philosophy. The relative effectiveness of urban lottery-sample charters is accounted for by over-subscribed urban schools' embrace of the No Excuses approach to education. |
| JEL: | H75 I21 I22 I28 J24 |
| Date: | 2011–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:17332&r=ure |
| By: | Elisabetta Gentile; Scott A. Imberman |
| Abstract: | Uniform use in public schools is rising, but we know little about how they affect students. Using a unique dataset from a large urban school district in the southwest United States, we assess how uniforms affect behavior, achievement and other outcomes. Each school in the district determines adoption independently, providing variation over schools and time. By including student and school fixed-effects we find evidence that uniform adoption improves attendance in secondary grades, while in elementary schools they generate large increases in teacher retention. |
| JEL: | I21 |
| Date: | 2011–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:17337&r=ure |
| By: | Calista Cheung |
| Abstract: | A considerable housing boom has been a key feature of persistently large saving-investment imbalances in New Zealand over the past decade. Wealth is concentrated to a greater extent in property compared to most other OECD countries, leaving households and the banking system heavily exposed to a correction in land and housing markets. Supply rigidities and tax incentives that bias savings decisions towards property investment have amplified the increase in house prices, widening wealth inequalities in the form of larger homes for those who can afford them, but deteriorating affordability for the rest of the population. Substantial distortions via tax planning have been evident in rental property markets. Although the 2010-11 budget introduced measures to reduce some of these distortions, further reforms are needed to remove the significant tax bias favouring housing. The economic downturn has increased financial pressures on the social housing sector, with a shortage of public dwellings in areas of high demand. Regional supply constraints reflect inefficient land-use policies and long delays arising from an overly complex urban planning system. The adoption of spatial planning frameworks is a positive step forward, but they should include pricing mechanisms for land and road use that are aligned with broader policy objectives. This Working Paper relates to the 2011 OECD Economic Review of New Zealand (www.oecd.org/eco/surveys/NewZealand).<P>Mesures pour rééquilibrer les marchés du logement en Nouvelle-Zélande<BR>Au cours des dix dernières années, le boum spectaculaire du marché du logement a été l’une des principales caractéristiques des déséquilibres importants et persistants entre l’épargne et l’investissement en Nouvelle-Zélande. La richesse est beaucoup plus concentrée dans l’immobilier que dans la plupart des autres pays de l’OCDE, ce qui expose massivement les ménages et le système bancaire à un risque de correction du marché foncier et du marché du logement. Les rigidités du côté de l’offre et les mesures d’incitation fiscale qui influencent les décisions d’épargne au profit des investissements immobiliers ont amplifié la hausse des prix des logements, creusant les inégalités de richesse qui se matérialisent par des logements plus vastes pour ceux qui peuvent se les payer alors que l’accessibilité financière au logement se détériore pour le reste de la population. Des distorsions substantielles imputables à la fiscalité sont devenues visibles sur les marchés de l’immobilier locatif. Bien que le budget 2010-11 ait introduit des mesures pour réduire certaines de ces distorsions, de nouvelles réformes sont nécessaires pour supprimer les biais fiscaux significatifs qui favorisent le logement. Le ralentissement économique a accru les pressions financières sur le secteur du logement social, entraînant une pénurie de logements publics dans des zones où la demande est forte. Le caractère limité de l’offre régionale reflète des politiques d’aménagement du territoire inefficientes et des retards importants imputables à un système de planification urbaine exagérément complexe. L’adoption de cadres d’aménagement du territoire constitue un pas en avant positif, mais cet encadrement devrait inclure des mécanismes tarifaires pour l’aménagement du territoire et des infrastructures routières alignés sur des objectifs politiques plus larges. Ce Document de travail se rapporte à l’Étude économique de l’OCDE de la Nouvelle-Zélande 2011 (www.oecd.org/eco/etudes/Nouvelle-Zéland e). |
| Keywords: | New Zealand, property tax, housing taxation, housing wealth, housing policies, housing prices, urban planning, housing markets, land-use planning, household saving, capital gains tax, land prices, prix des logements, Nouvelle-Zélande, logement social, politique du logement, marché du logement, épargne des ménages, patrimoine des ménages, fiscalité de l’immobilier, impôt sur les plus-values, impôt sur la propriété immobilière, planification de l’occupation des sols, planification urbaine, prix du terrain |
| JEL: | E21 E32 H21 H23 H24 H71 R21 R31 R38 R52 |
| Date: | 2011–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:878-en&r=ure |
| By: | Virginia Maestri (AIAS, Universiteit van Amsterdam) |
| Abstract: | While the share of non-native students in a class is expected to have a non positive effect on school achievement, little is said about the heterogeneity of the ethnic minority make-up. Ethnic diversity can stimulate the creativity of students, can push them to be proficient in the instructional language, can reduce the scope of ethnic identification with all its possible drawbacks, but it may also worsen social interactions among pupils and make the job of teachers more difficult. We exploit the within school cohort variation in ethnic diversity of a rich data-set about primary education in the Netherlands to investigate whether ethnic diversity matters for school achievement, for whom it matters and which can be the other mechanisms it may generate. We find that ethnic diversity has a positive impact on the test scores of minority students, especially for language skills and older students. We also find a negative relationship between ethnic diversity and the school social environment. |
| Keywords: | ethnic diversity; education; peer effects JEL classification: I21; I28; J15 |
| Date: | 2011–01 |
| URL: | http://d.repec.org/n?u=RePEc:aia:aiaswp:wp108&r=ure |
| By: | Christophe André |
| Abstract: | A well-functioning housing market is essential for economic prosperity and well-being. A combination of favourable economic and financial conditions and tight housing supply led to sharp increases in real house prices between the mid-1990s and end 2007, which spurred household consumption. While this boosted output growth, economic imbalances and financial weaknesses mounted, leaving the economy vulnerable to the global financial crisis. Current land use planning policy is excessively restrictive, making supply unresponsive to demand and contributing to creating housing shortages and reducing affordability. While additional supply in the private rental market provides an alternative to homeownership for a significant number of households, social housing waiting list numbers have increased rapidly over the past decade. A reform to replace top-down building targets with incentives for local communities to allow development is underway, but the outcomes are somewhat uncertain. Housing taxation is regressive and encourages excessive demand for housing. More effective taxation could help contain demand and stabilise the housing market. Relying more on long-term and diversified funding for mortgages would also improve the stability of the housing market.<P>Améliorer le fonctionnement du marché du logement au Royaume Uni<BR>Un marché du logement performant est indispensable à la prospérité économique et au bien-être. Des conditions économiques et financières favorables conjuguées à des tensions sur l’offre de logements ont entraîné une flambée des prix réels de l’immobilier résidentiel entre le milieu des années 90 et la fin de 2007, ce qui a dopé la consommation des ménages. Cela a stimulé la croissance de la production, mais les déséquilibres économiques et financiers ont pris de l’ampleur, rendant l’économie vulnérable à la crise financière mondiale. La politique actuelle d’aménagement du territoire est trop restrictive, ce qui a pour effet de rendre l’offre peu réactive à la demande, contribuant à créer des pénuries de logements et à réduire l’accessibilité financière à la propriété. Tandis qu’une offre supplémentaire sur le marché locatif privé constitue une alternative à l’accession pour un nombre substantiel de ménages, les listes d’attente dans le secteur du logement social se sont rapidement allongées durant la décennie écoulée. Une réforme est engagée pour remplacer les objectifs de construction déterminés de manière centralisée par des incitations octroyées aux collectivités locales pour qu’elles autorisent des projets immobiliers, mais les résultats sont assez incertains. La fiscalité du logement a un caractère régressif et encourage une demande de logements excessive. Une imposition plus efficace aiderait à contenir la demande et à stabiliser le marché du logement. Un recours accru à un financement à long-terme et diversifié des prêts hypothécaires renforcerait également la stabilité du marché du logement. |
| Keywords: | United Kingdom, construction, mortgage markets, housing policies, housing prices, housing markets, land-use planning, household saving, household wealth, property taxation, Royaume-Uni, prix des logements, construction, marchés hypothécaires, marché immobilier, politiques du logement, aménagement du territoire, épargne des ménages, patrimoine des ménages, fiscalité immobilière |
| JEL: | E21 G21 H24 L74 R21 R31 R38 R52 |
| Date: | 2011–05–25 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:867-en&r=ure |
| By: | Hervé Boulhol |
| Abstract: | Housing plays a key role in the economy, because of its weight in household expenditures and assets, its importance for social well-being, and its impact on educational outcomes and employment as well as on the business cycle. Over the past half century, the bulk of the population has benefited significantly from improved housing conditions. Yet perhaps 5% of families are still poorly-housed, and inequalities in access to housing have widened since the mid-1990s, as soaring real estate prices have produced strong distributional effects. Although the severity of the economic crisis seemed to portend a sharp downward correction, the market has in fact turned around and recovered vigorously in France as in many OECD countries, supported by exceptional financing conditions and policies to stimulate demand. While the risk that prices will fall is non negligible, particularly if credit conditions tighten, the situation in France seems to reflect a shortage of housing supply, concentrated in certain "strained" geographic areas. The key role that housing plays in ensuring the social inclusion of individuals and the many imperfections inherent in the housing market justify government intervention. A crucial question is whether the policies being implemented are helping to correct these imperfections efficiently or whether, on the contrary, they are amplifying them, with possible negative spillovers on employment, economic growth or equity. The general principles underlying government housing policies should embrace three aspects: income-tested assistance to individuals, the most effective instrument because it allows for better targeting; direct support for housing supply in areas of excess demand, especially through the social sector, which should focus on disadvantaged households; and the removal of obstacles that work against market mechanisms, so as to make supply more responsive and the market more fluid and transparent, and to limit the many distortions induced by regulation, taxation and subsidies. This Working Paper relates to the 2011 OECD Economic Survey of France (www.oecd.org/eco/surveys/france). |
| Keywords: | housing taxation, housing policies, residential mobility, supply responsiveness, housing credit |
| JEL: | R21 R30 R31 R38 |
| Date: | 2011–05–11 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:861-en&r=ure |
| By: | Aida Caldera Sánchez; Dan Andrews |
| Abstract: | Residential mobility is closely tied to housing market forces and has important implications for labour mobility and the efficient allocation of resources across the economy. This paper analyses patterns of residential mobility across OECD countries and the role of housing policies in enhancing or hampering residential mobility. Based on cross-sectional household data for 25 countries, the results suggest that differences in residential mobility across countries are partially related to differences in public policies. After controlling for household and country-specific characteristics, residential mobility is higher in countries with lower transaction costs, more responsive housing supply, lower rent controls and tenant protection. Residential mobility tends also to be higher in environments with greater access to credit, suggesting that financial deregulation – by lowering borrowing costs and facilitating access to mortgage finance – facilitates mobility. This cross-country evidence is supported by city and state-level evidence for the United States, which also highlights the potential risks that high leverage rates pose to residential mobility.<P>Déménager ou ne pas déménager : quels sont les déterminants des taux de mobilité résidentielle dans l'OCDE?<BR>La mobilité résidentielle est étroitement liée aux dynamiques du marché du logement et a des implications importantes pour la mobilité professionnelle et la répartition efficace des ressources dans l'économie. Ce document analyse les tendances de la mobilité résidentielle dans les pays de l'OCDE et le rôle des politiques du logement dans le renforcement ou l?obstruction de la mobilité résidentielle. Sur la base des enquêtes auprès des ménages pour 25 pays, les résultats indiquent que les différences dans la mobilité résidentielle entre les pays sont en partie liées aux différentes politiques des gouvernements. Après avoir contrôlé pour les caractéristiques du ménage et celles propres à chaque pays, la mobilité résidentielle est plus élevée dans les pays où les coûts de transaction, le contrôle des loyers et la protection des locataires sont plus faibles, et l'offre de logements plus elevée. La mobilité résidentielle est aussi plus élevée dans les environnements avec un plus grand accès au crédit, ce qui suggère que la déréglementation financière - en réduisant les coûts d'emprunt et en facilitant l'accès au financement hypothécaire - facilite la mobilité. Ces résultats sont soutenus par une analyse au niveau ville et États pour les États-Unis, qui met également en évidence les risques potentiels que posent un taux d'endettement élevé à la mobilité résidentielle. |
| Keywords: | housing market, residential mobility, transaction costs, rental market regulations, coût de transition, mobilité résidentielle, régulation du marché locataire, marché du logement |
| JEL: | H20 R21 R23 R34 R38 |
| Date: | 2011–02–18 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:846-en&r=ure |
| By: | Paola Bertolini; Valentina Toscano; Linda Tosarelli |
| Abstract: | Given the deep economic and social differences of the Italian territories, the aim of the paper is to examine if there is a relationship between the territorial features of the Italian provinces and the school participation of young immigrants. The analysis focuses on the education experiences of young immigrants, especially on school participation in different levels, noting also the experiences of failure and higher education choices. The descriptive analysis of school participation and the economic-social characteristics has as objective to verify if there is a relationship between the latter and school participation. The analysis shows that the presence of foreign children in kindergarten is high and, in some regions, it is even higher than Italian children ones. Regarding the presence of immigrants in mandatory school, the turnout is above 90% in all regions. The participation rate of students in high school is commonly very low and compared with immigrants peers, the Italian school participation is widely higher. The presence of immigrant students has been analyzed considering the participation in different types of high school. In general, they prefer the vocational school. Moreover, the geographical distribution of participation in vocational schools is higher in northern region, where there is a significant industrial development and high employment rate. A statistical analysis of the determinants influencing the migrants’ choices has been made using some socio-economic indicators able to describe the economy of the different areas, especially in terms of sector-based specialization, presence of industrial districts, dynamics of labour market and households’ income. The results underline that the economic context is able to influence the individual choices; in particular the presence of manufacturing, the wealth of agriculture and the presence of schools exercise a positive influence. At the opposite, GDP per capita and agricultural orientation of the economy play a negative influence of immigrants school attendance. |
| Date: | 2011–03 |
| URL: | http://d.repec.org/n?u=RePEc:mod:cappmo:0087&r=ure |
| By: | Dan Andrews; Aida Caldera Sánchez |
| Abstract: | Homeownership rates have increased significantly in many OECD countries over recent decades. Using micro-econometric decomposition techniques, this paper shows that part of this increase can be explained by changes in the characteristics of households, including age, household structure, incomes and education. Nevertheless, a significant portion of the change in homeownership rates remains unexplained by shifts in household characteristics, leaving a potential role for public policy in explaining developments in homeownership rates. Panel estimates suggest that the relaxation of down-payment constraints on mortgage loans has increased homeownership rates among credit-constrained households over recent decades, resulting in a rise in the aggregate homeownership rate that is comparable to the impact of population ageing. In countries where tax relief on mortgage debt financing is generous, however, the expansionary impact of mortgage market innovations on homeownership is smaller. This is consistent with the tendency for such housing tax reliefs to be capitalised into real house prices, which may crowd-out some financially constrained households from homeownership at the margin. The impact of housing policies regulating the functioning of the rental market, such as rent regulation and provisions for tenure security, on tenure choice is also explored.<P>Les déterminants du taux de propriété immobilière dans les pays de l'OCDE<BR>Les taux d'accession à la propriété immobilière ont augmenté de façon significative dans de nombreux pays de l'OCDE au cours des dernières décennies. En utilisant des techniques micro-économétriques, cette étude montre qu'une partie de cette augmentation est expliquée par des changements dans les caractéristiques des ménages, y compris l'âge, la structure du ménage, les revenus et l'éducation. Néanmoins, une part importante de la variation des taux d'accession à la propriété ne s’explique pas par des changements dans les caractéristiques du ménage, ce qui laisse un rôle potentiel aux politiques publiques pour expliquer l'évolution des taux d'accession à la propriété. Des estimations de panel suggèrent que l'assouplissement des conditions d’apport pour les prêts hypothécaires a augmenté les taux d’accession à la propriété parmi les ménages en butte à des contraintes de crédits, entraînant un effet sur les taux d' accession à la propriété globale comparable à l'impact du vieillissement de la population. Dans les pays où des allégements d’impôt sur le financement de la dette hypothécaire sont généreux, cependant, l'effet expansionniste des innovations sur le marché hypothécaire sur l'accession à la propriété est moindre. Ceci est cohérent avec la tendance pour ces dégrèvements fiscaux à être capitalisées dans les prix réels des logements, ce qui peut évincer, à la marge, certains ménages en difficulté financièrement à l’accession à la propriété. L'impact des politiques du logement qui régissent le fonctionnement du marché locatif sur le mode d'occupation est également exploré. |
| Keywords: | taxation, mortgage markets, housing market, financial regulation, homeownership, fiscalité, réglementation financière, marché du logement, propriété immobilière, marché du crédit hypothécaire |
| JEL: | G21 H24 R21 R31 |
| Date: | 2011–03–18 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:849-en&r=ure |
| By: | Matteo Iacoviello |
| Abstract: | Housing wealth is about one half of household net worth, and consumption is a considerable fraction (about two thirds) of Gross Domestic Product in the United States. Empirically, movements in housing wealth are associated with movements in consumption in the same direction. This observation has led many economists, commentators and policy makers to study how housing wealth and consumption are linked together. A sizeable portion of the comovement between housing wealth and consumption reflects common factors driving both variables, rather than the "wealth effect" of the former on the latter; however, a growing body of evidence suggests that the comovement is larger in developed financial markets and in the presence of liquidity constraints. |
| Keywords: | Consumption (Economics) - United States ; Home ownership - United States ; Wealth - United States |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedgif:1027&r=ure |
| By: | Martinho, Vítor João Pereira Domingues |
| Abstract: | With this work we try to analyse the agglomeration process in the Portuguese regions, using the New Economic Geography models. In these models the base idea is that where has increasing returns to scale in the manufactured industry and low transport costs, there is agglomeration. This work aims to test, also, the Verdoorn Law, with the alternative specifications of (1)Kaldor (1966), for the 28 NUTS III Portuguese in the period 1995 to 1999. It is intended to test, yet in this work, the alternative interpretation of (2)Rowthorn (1975) about the Verdoorn's Law for the same regions and periods. With this study we want, also, to test the Verdoorn´s Law at a regional and a sectoral levels (NUTs II) for the period 1995-1999. The importance of some additional variables in the original specification of Verdoorn´s Law is yet tested, such as, trade flows, capital accumulation and labour concentration. This study analyses, also, through cross-section estimation methods, the influence of spatial effects in productivity in the NUTs III economic sectors of mainland Portugal from 1995 to 1999, considering the Verdoorn relationship. |
| Keywords: | new economic geography; Verdoorn law; spatial autocorrelation; Portuguese regions |
| JEL: | O18 C23 C21 R11 |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:32911&r=ure |
| By: | Cornie Huizenga; Stefan Bakker |
| Keywords: | Infrastructure & Transport :: Railways, NAMA, Sustainable Transport, Bus Rapid Transit (BRT), Avoid-Shift-Improve, Transport Demand Management, Mobility, Greenhouse Gas Emissions, Latin America, BRIC, Climate Change Adaptation, Non-Motorized Transport, Urban Transport |
| Date: | 2010–10 |
| URL: | http://d.repec.org/n?u=RePEc:idb:brikps:8603&r=ure |
| By: | Bénédicte Rolland |
| Abstract: | Les politiques du logement en France visent à satisfaire plusieurs objectifs. Il s’agit en premier lieu d’assurer à chacun un logement qui corresponde à ses besoins et à ses capacités financières. Le logement social, les aides au logement, les dispositifs d’aide à l’investissement locatif et le mécanisme de garantie des risques locatifs sont mobilisés pour atteindre cet objectif. Afin d’assurer à tous un logement décent, l’entretien régulier du parc de logements et son amélioration énergétique sont en outre assurés par des incitations fiscales et des aides directes. Au-delà de cet objectif premier, d’autres buts sont poursuivis. Ainsi, encourager la mixité sociale fait partie des priorités en réaction à la concentration de populations en difficulté dans les zones défavorisées. L’accession à la propriété demeure également un objectif sous-jacent des politiques du logement, comme en témoigne la réforme mise en oeuvre en 2011, qui a refondu les différents mécanismes favorisant l’accession. L’objectif plus récent du verdissement des aides au logement s’est affirmé, en particulier depuis le Grenelle de l’environnement de 2009. Le logement est ainsi un bien étroitement contrôlé et subventionné par l’Etat. Mais il est aussi une source de revenus pour ce dernier : les prélèvements portant sur le logement représentent près de 7 % des recettes fiscales totales. Ce Document de travail se rapporte à l’Étude économique de l’OCDE de la France 2011 (www.oecd.org/eco/etudes/france).<P>Housing policies in France<BR>Housing policies in France are designed to meet several objectives. They consist primarily in ensuring that all households have housing that corresponds to their needs and financial means. Social housing, housing subsidies, schemes for rental investment and the tenancy guarantee scheme are used to reach that objective. To ensure decent housing for all regular maintenance of the housing stock and its improvement are also encouraged through tax incentives and direct subsidies. Beyond this first objective, other goals are pursued. Thus, encouraging social diversity became a priority in response to the concentration of groups in difficulty located in disadvantaged areas. Home ownership also remains an underlying objective of housing policies, as evidenced by the reform implemented in 2011, which consolidated the various mechanisms involved. The latest target aims at greening housing support, particularly since the “Grenelle de l’environnement” in 2009. Housing is therefore a good that is tightly controlled and subsidised by the State. But it is also one of its sources of revenues: levies on housing represent about 7% of total tax revenues. This Working Paper relates to the 2011 OECD Economic Survey of France (www.oecd.org/eco/surveys/france). |
| Keywords: | housing policies, France, politiques du logement |
| JEL: | R21 R30 R31 R38 |
| Date: | 2011–05–30 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:870-fr&r=ure |
| By: | Zhang, Yanbing (BOFIT); Hua, Xiuping (BOFIT); Zhao, Liang (BOFIT) |
| Abstract: | How do monetary policy variables affect housing prices? In this paper we apply a non-linear modelling approach, the Nonlinear Auto Regressive Moving Average with eXogenous inputs (NAR-MAX), to investigate determinants of housing prices in China over the period 1999:01 to 2010:06. The NARMAX approach has an advantage over prevailing methods in that it automatically selects linear and non-linear forms of variables and the numbers of corresponding lags according to statistical properties. Both linear and non-linear estimation results identify a number of key monetary and price variables, including most notably mortgage rate, producer price, broad money supply and real effective exchange rate. Meanwhile, some key real economic variables such as income are not independently significant. Our findings should be helpful in understanding the formation of housing prices in China and will provide some valuable insights on how to use monetary policies to manage asset prices. |
| Keywords: | housing prices; monetary policy; NARMAX; China |
| JEL: | C32 C67 E47 E52 |
| Date: | 2011–08–22 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:bofitp:2011_017&r=ure |
| By: | Mathias Sinning; Matthias Vorell |
| Abstract: | This paper compares the eff ects of immigration fl ows on economic outcomes and crime levels to the public opinion about these eff ects using individual and regional data for Australia. We employ an instrumental variables strategy to account for non-random location choices of immigrants and fi nd that immigration has no adverse eff ects on regional unemployment rates, median incomes, or crime levels. This result is in line with the economic eff ects that people typically expect but does not confi rm the public opinion about the contribution of immigration to higher crime levels, suggesting that Australians overestimate the eff ect of immigration on crime. |
| Keywords: | International migration; eff ects of immigration; attitudes towards immigrants |
| JEL: | F22 J61 |
| Date: | 2011–07 |
| URL: | http://d.repec.org/n?u=RePEc:rwi:repape:0271&r=ure |
| By: | Ali, Daniel Ayalew; Deininger, Klaus; Goldstein, Markus |
| Abstract: | Although increased global demand for land has led to renewed interest in African land tenure, few models to address these issues quickly and at the required scale have been identified or evaluated. The case of Rwanda's nation-wide and relatively low-cost land tenure regularization program is thus of great interest. This paper evaluates the short-term impact (some 2.5 years after completion) of the pilots undertaken to fine-tune the approach using a geographic discontinuity design with spatial fixed effects. Three key findings emerge from the analysis. First, the program improved land access for legally married women (about 76 percent of married couples) and prompted better recordation of inheritance rights without gender bias. Second, the analysis finds a very large impact on investment and maintenance of soil conservation measures. This effect was particularly pronounced for female headed households, suggesting that this group had suffered from high levels of tenure insecurity, which the program managed to reduce. Third, land market activity declined, allowing rejection of the hypothesis that the program caused a wave of distress sales or widespread landlessness by vulnerable people. Implications for program design and policy are discussed. |
| Keywords: | Common Property Resource Development,Banks&Banking Reform,Municipal Housing and Land,Urban Housing,Rural Land Policies for Poverty Reduction |
| Date: | 2011–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:5765&r=ure |
| By: | Gene Amromin; Jennifer Huang; Clemens Sialm; Edward Zhong |
| Abstract: | We investigate the characteristics and the default behavior of households who take out complex mortgages. Unlike traditional fixed rate or adjustable rate mortgages, complex mortgages are not fully amortizing and enable households to postpone loan repayment. We find that complex mortgages are used by sophisticated households with high income levels and prime credit scores, in contrast to the low income population targeted by subprime mortgages. Complex mortgage borrowers have significantly higher delinquency rates than traditional mortgage borrowers even after controlling for leverage, payment resets, and other household and loan characteristics. The difference in the delinquency rates between complex and traditional borrowers increases with measures of financial sophistication and leverage, suggesting that complex borrowers are more strategic in their default decisions than traditional borrowers. |
| JEL: | E60 G10 H31 |
| Date: | 2011–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:17315&r=ure |
| By: | Calem, P.; Cannon, M.; Nakamura, L.I. (Tilburg University, Center for Economic Research) |
| Abstract: | We empirically study how the underlying riskiness of the pool of home equity line of credit originations is affected over the credit cycle. Drawing from the largest existing database of U.S. home equity lines of credit, we use county-level aggregates of these loans to estimate panel regressions on the characteristics of the borrowers and their loans, and competing risk hazard regressions on the outcomes of the loans. We show that when the expected unemployment risk of households increases, riskier households tend to borrow more. As a consequence, the pool of households that borrow on home equity lines of credit worsens along both observable and unobservable dimensions. This is an interesting example of a type of dynamic adverse selection that can worsen the risk characteristics of new lending, and suggests another avenue by which the precautionary demand for liquidity may affect borrowing. |
| Keywords: | Home equity loan;adverse selection;liquidity;consumption;housing finance. |
| JEL: | D14 D82 G21 |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:kubcen:2011086&r=ure |
| By: | Linda Rousová; Paul van den Noord |
| Abstract: | OECD work prior to the financial crisis suggested that real prices in several housing markets had become vulnerable to a change in financial and economic conditions, with the risk of a subsequent downturn becoming increasingly possible, as proved to be the case. With corrections in many, but not all, housing markets having now occurred, and, in some countries, prices having rebounded rapidly in the low interest rate environment, the issue of whether prices are now close to another turning point is again of considerable policy interest. As a means of addressing this issue, probit models have been estimated to provide an indication of possible peaks and troughs in real house prices in 2011 and 2012, using data for 20 OECD countries. Predictions based on these models have been reported in OECD Economic Outlook, No. 89 and this paper provides information on the methodology underpinning these predictions.<P>Comment prévoir les fluctuations des prix réels des logements ?<BR>Les travaux menés par l’OCDE avant la crise financière laissaient entendre que les prix réels sur plusieurs marchés du logement ne sauraient résister à une modification des conditions financières et économiques, alors que le risque que leur vulnérabilité n’entraîne une crise économique devenait de plus en plus probable, ainsi que les événements ultérieurs l’ont d’ailleurs démontré. Les prix s’étant désormais rétablis sur un grand nombre, bien que pas sur la totalité, des marchés du logement, et ayant même, dans certains pays, enregistré une remontée rapide favorisée par la faiblesse des taux d’intérêt, la question de savoir s’ils font aujourd’hui face à un nouveau changement de cap mobilise fortement l’intérêt des gouvernements. Pour tenter de répondre à cette question, des modèles probits, dont on estime qu’ils pourraient fournir une indication des fluctuations possibles des prix réels des logements en 2011 et 2012, ont été sollicités et utilisés avec des données concernant 20 pays de l’OCDE. Les prévisions établies sur la base de ces modèles ont été reproduites dans les Perspectives économiques de l'OCDE, n°89, et le présent document donne des informations sur la méthodologie employée à cet effet. |
| Keywords: | house prices, business cycles, housing bubbles, cycle économique, prix des logements, bulles immobilière |
| JEL: | E32 F42 R31 |
| Date: | 2011–07–13 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:882-en&r=ure |
| By: | Alberto Bisin; Andrea Moro; Giorgio Topa |
| Abstract: | We study a general class of models with social interactions that might display multiple equilibria. We propose an estimation procedure for these models and evaluate its efficiency and computational feasibility relative to different approaches taken to the curse of dimensionality implied by the multiplicity. Using data on smoking among teenagers, we implement the proposed estimation procedure to understand how group interactions affect health-related choices. We find that interaction effects are strong both at the school level and at the smaller friends-network level. Multiplicity of equilibria is pervasive at the estimated parameter values, and equilibrium selection accounts for about 15 percent of the observed smoking behavior. Counterfactuals show that student interactions, surprisingly, reduce smoking by approximately 70 percent with respect to the equilibrium smoking that would occur without interactions. |
| Keywords: | Human behavior ; Social choice ; Health |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fednsr:504&r=ure |
| By: | Klaesson, Johan (Jönköping International Business School); Johansson, Börje (Jönköping International Business School and Royal Institute of Technology); Karlsson, Charlie (Jönköping International Business School, Blekinge Institute of Technology, Karlskrona and University West, Trollhättan) |
| Abstract: | The importance of metropolitan regions as national growth and development engines, and in particular as driving forces in national as well as global innovation processes is well recognized. This paper highlights the role of metropolitan regions in different contexts in order to lay a foundation for future research on metropolitan regions and their development. Specifically, the paper dwells on the role of metropolitan regions as nodes in national and international networks and as nodes of knowledge generation and innovation. Further, market potential as a concept describing the economic concentration to and the opportunities of making contacts within and between metropolitan regions is introduced. Additionally, the internal dynamic of metropolitan regions and the role of fast and slow processes is described. Lastly this paper illustrates how the input and output market potentials represent factors that adjust slowly and that play the same role for metropolitan development as metropolitan infrastructure. |
| Keywords: | Metropolitan regions; market potential; networks |
| JEL: | O18 O31 R11 R12 |
| Date: | 2011–08–17 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0253&r=ure |
| By: | Schaffer, Axel |
| Abstract: | Regional economic policy disposes of two principal options to attract private capital, which in turn helps to safeguard employment and to foster regional growth. On the one hand, regional policy could seek to enhance a region's level of public capital (e.g. transport infrastructure), which as a consequence makes the region more attractive to private investors in general. On the other hand, private capital could be attracted in a more direct way by proposing specific innovation, SME or cluster programs. The success of both options is partly driven by the regions already existing level of region specific production factors and the ability to use these factors efficiently. Indirect approaches to attract private capital seem to be particularly promising for efficient regions (no matter of the absolute level of public capital). In contrast, inefficient regions shall benefit more from specific programs. However, for Germany the factual pattern seems to be the other way around, which could widening rather than closing the income gap among regions. -- |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:kitwps:31&r=ure |
| By: | Løken, Katrine Vellesen (University of Bergen); Lommerud, Kjell Erik (University of Bergen); Lundberg, Shelly (University of Washington) |
| Abstract: | Norwegian registry data is used to investigate the location decisions of a full population cohort of young adults as they complete their education, establish separate households and form their own families. We find that the labor market opportunities and family ties of both partners affect these location choices. Surprisingly, married men live significantly closer to their own parents than do married women, even if they have children, and this difference cannot be explained by differences in observed characteristics. The principal source of excess female distance from parents in this population is the relatively low mobility of men without a college degree, particularly in rural areas. Despite evidence that intergenerational resource flows, such as childcare and eldercare, are particularly important between women and their parents, the family connections of husbands appear to dominate the location decisions of less-educated married couples. |
| Keywords: | intergenerational; proximity; marriage; location; decisions intergenerational proximity; marriage; location decisions |
| JEL: | J12 J16 J61 |
| Date: | 2011–03–15 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:bergec:2011_003&r=ure |
| By: | Sanders, Rebecca Lawrence; Macdonald, Elizabeth; Anderson, Alia; Ragland, David R; Cooper, Jill F |
| Abstract: | This paper reports on research conducted by the Safe Transportation Research and Education Center and sponsored by the California Department of Transportation (“Caltransâ€) to establish performance measures for pedestrian and bicycle safety and mobility along urban arterials. Although historically focused on motorized vehicle mobility, Caltrans has recently joined in a national trend to incorporate non-motorized transportation and community-level outcomes into transportation decision-making frameworks, an approach known as "Complete Streets." Recognizing that its current performance measurement system does not reflect this shift, Caltrans worked with researchers at the University of California, Berkeley to create new measures that more accurately gauge its progress toward these objectives. This paper discusses a field test of the validity and ease of application of the proposed performance measures for pedestrian safety. The test corridor was San Pablo Avenue, a 9.5-mile, multi-jurisdictional State Route in Northern California. While the researchers developed the performance measures based on a broad literature and best-practice review, the field-test determined that most of the initial performance measures for pedestrian safety require adjustments to improve validity and facilitate their broad adoption by Caltrans. This paper demonstrates the value of small-scale field-testing of performance measures before their adoption, particularly for subject areas with little institutional measurement history, like pedestrian and bicyclist safety and mobility. The paper concludes with discussion of the next steps of the performance measures development process and future research on the topic. |
| Keywords: | Urban Studies and Planning |
| Date: | 2011–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsrrp:2187245&r=ure |
| By: | Martinho, Vítor João Pereira Domingues |
| Abstract: | The aim of this paper is to present a further contribution, with panel data, to the analysis of absolute convergence, associated with the neoclassical theory, and conditional, associated with endogenous growth theory, of the sectoral productivity at regional level (NUTs III, from 1995 to 1999). They are also presented empirical evidence of conditional convergence of productivity, for each of the economic sectors of the NUTS II of Portugal, from 1995 to 1999. The structural variables used in the analysis of conditional convergence is the ratio of capital/output, the flow of goods/output and location ratio. With this work we try, also, to analyse the agglomeration process in the Portuguese regions, using the New Economic Geography models. |
| Keywords: | convergence; new economic geography; Portuguese regions |
| JEL: | O18 C23 R12 |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:32920&r=ure |
| By: | Halkos, George; Tzeremes, Nickolaos |
| Abstract: | This paper by applying a directional distance function approach measures the UK regions’ municipality waste performance. In addition the paper constructs conditional stochastic kernels trying to determine nonparametrically the association of regions’ GDP per capita levels with their calculated regional environmental efficiencies. There are evidences of regional environmental inefficiencies for the majority of UK regions regardless their regional GDP per capita levels. |
| Keywords: | Regional environmental performance; Directional distance function; Conditional stochastic kernel |
| JEL: | C6 Q5 O13 |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:32934&r=ure |
| By: | Kathleen Scanlon; Christine Whitehead |
| Abstract: | In this paper we describe the main features of the French social housing system as viewed from abroad, and place it within the context of systems in other major developed countries, particularly in Europe. At 17% of the total stock the social sector in France is of similar scale to many other European countries but aims to play a more =universalist‘ role. Moreover the sector still benefits from a special circuit of finance as well as direct subsidies to a greater degree than many comparator countries. Even so, increasing proportions of social tenants come from lower income groups and the government has legislated for rights to assistance. In this context we examine the comparative evidence on the stock of social housing and new construction in the sector; financing and subsidy regimes; systems for allocating tenants to social-housing dwellings; and the resulting demographics. We identify some French policies and practices that reflect the country‘s relative interest in maintaining a traditional social sector and areas such as public/private partnership where France has acted as leader in policy development. We also identify aspects of social housing where France is anomalous in a European context, as well as some where policy appears to have limited economic rationale. Finally, we make some observations about possible future policy directions. This Working Paper relates to the 2011 OECD Economic Survey of France (www.oecd.org/eco/surveys/france).<P>Le logement social français dans une perspective internationale<BR>Dans ce document de travail, nous décrivons les principales caractéristiques du système de logement social français, vu de l'étranger, et le plaçons dans le contexte des systèmes d'autres grands pays développés, en particulier en Europe. Avec 17% du stock total de logements, le secteur social en France est d'une envergure similaire à celui de nombreux autres pays européens, mais vise à jouer un rôle plus «universaliste». En outre ce secteur bénéficie toujours d'un circuit spécial de financement ainsi que des subventions directes à un degré plus élevé que dans de nombreux pays comparables. Cependant, des proportions croissantes de locataires de logements sociaux viennent de groupes à faible revenu et le gouvernement a légiféré en faveur de droits à l'assistance. Dans ce contexte, nous examinons les données comparatives du stock de logements sociaux et des nouvelles constructions dans le secteur, les régimes de financement et de subvention, les systèmes d‘attribution des logements sociaux, et la démographique en résultant. Nous identifions certains politiques et pratiques françaises qui reflètent l'intérêt relatif du pays dans le maintien d'un secteur social traditionnel et des domaines tels que le partenariat public / privé où la France a agi comme novatrice dans l'élaboration des politiques. Nous avons également identifié les aspects du logement social où la France se singularise dans un contexte européen, ainsi que d'autres où les politiques semblent avoir peu de logique économique. Enfin, nous faisons quelques observations concernant de possibles orientations futures. Ce Document de travail se rapporte à l‘Étude économique de l‘OCDE de la France 2011 (www.oecd.org/eco/etudes/france). |
| Keywords: | social housing, comparative housing policy, French housing policy, housing subsidies, logement social, politique comparée du logement, politique française du logement, subventions au logement |
| JEL: | H42 H75 R21 R30 R31 R38 |
| Date: | 2011–05–12 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:862-en&r=ure |
| By: | Raven Molloy; Christopher L. Smith; Abigail K. Wozniak |
| Abstract: | We review patterns in migration within the US over the past thirty years. Internal migration has fallen noticeably since the 1980s, reversing increases from earlier in the century. The decline in migration has been widespread across demographic and socioeconomic groups, as well as for moves of all distances. Although a convincing explanation for the secular decline in migration remains elusive and requires further research, we find only limited roles for the housing market contraction and the economic recession in reducing migration recently. Despite its downward trend, migration within the US remains higher than that within most other developed countries. |
| JEL: | J1 J61 R23 |
| Date: | 2011–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:17307&r=ure |
| By: | Emma Näslund-Hadley; Georgina Binstock |
| Abstract: | Our interest in understanding the determinants of adolescent childbearing and how adolescent childbearing influences educational trajectories derive from a concern about the inverse relationship between educational outcomes and adolescent fertility. Through in-depth interviews with 118 women, we contrast the educational trajectories of adolescent and adult childbearers in urban neighborhoods in Paraguay and Peru. The findings suggest that adolescents who face obstacles that discourage academic achievement and high aspirations in life are also more likely to bear children. |
| Keywords: | Education |
| Date: | 2011–01 |
| URL: | http://d.repec.org/n?u=RePEc:idb:brikps:8693&r=ure |
| By: | Chen, W. H.; Myles, John; Picot, Garnett |
| Abstract: | Higher income neighbourhoods in Canada’s eight largest cities flourished economically during the past quarter century, while lower income communities stagnated. This paper identifies some of the underlying processes that led to this outcome. Increasing family income inequality drove much of the rise in neighbourhood inequality. Increased spatial economic segregation, the increasing tendency of “like to live nearby likeâ€, also played a role. In the end, the differential economic outcomes between richer and poorer neighbourhoods originated in the labour market, or in family formation patterns. Changes in investment, pension income, or government transfers played a very minor role. But it was not unemployment that differentiated the richer from poorer neighbourhoods. Rather, it was the type of job found, particularly the annual earnings generated. The end result has been little improvement in economic resources in poor neighbourhoods during a period of substantial economic growth, and a rise in neighbourhood income inequality. |
| Keywords: | Inequality, Neighbourhood, Poverty |
| JEL: | R23 J31 |
| Date: | 2011–08–21 |
| URL: | http://d.repec.org/n?u=RePEc:ubc:clssrn:clsrn_admin-2011-21&r=ure |
| By: | Jang, Kitae; Kang, Sanghyeok; Seo, Jongwon; Chan, Ching-Yao |
| Abstract: | High-occupancy vehicle (HOV) lanes have been deployed as a tool for traffic management in urban freeway systems to improve reliability and mobility of trips. As they are planned to traverse crowded urban areas, it is often difficult to acquire sufficient right-of-way for retrofitting HOV lanes to existing freeway systems with recommended cross-sectional design. The present study proposes a methodology to determine the optimal set of cross-sectional design for safety performance by evaluating individual impact of each design element on safety as well as tradeoffs between them. Detailed collision data of concurrent-flow buffer-separated HOV lanes along with their geometric features and traffic flow data were analyzed to estimate collision predictive models for HOV and the adjacent general purpose lanes by injury types. These models were used to determine the set of cross-sectional design elements that minimizes the expected collision occurrences. As a case study, a real freeway corridor where converting continuous to buffer-separated types was underway was selected to demonstrate the applicability of the proposed method. This case study shows that the method can assist to determine cross-section design of HOV facilities for safety based on currently available geometric space. |
| Keywords: | Engineering |
| Date: | 2011–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsrrp:2187269&r=ure |
| By: | Hansjörg Blöchliger; José Maria Pinero Campos |
| Abstract: | Sub-central tax competition is the strategic interaction of tax policy between jurisdictions with the objective to attract and retain mobile tax bases. The views on tax competition differ widely: while some consider that tax competition brings sub-central fiscal policy closer to citizen?s preferences, increases the efficiency of the public sector and avoids tax and spending excesses, others argue that tax competition leads to a distorted tax structure, to growing tax rate disparities and to an under-provision of public services. The main conclusions of the paper are: tax competition is stronger on mobile taxes (corporate and personal income tax) than on immobile taxes (property tax, consumption taxes); tax rates tend to be lower in wealthier jurisdictions; there is little evidence of a “race to the bottom” with respect to tax rates and tax revenues; and inter-jurisdictional differences in tax raising capacity – or economic wealth – appear to be lower in countries with more tax competition. Governments considering tax competition “excessive” may introduce or amend fiscal equalisation; increase sub-central property taxation and reduce other sub-central taxes; or harmonise the tax bases of sub-central governments to some extent.<P>Concurrence fiscale entre administrations infranationales<BR>La concurrence fiscale entre administrations infranationales désigne l?utilisation stratégique de la politique fiscale dans le but d?attirer et de conserver les bases d?imposition mobiles. La concurrence fiscale suscite des avis partagés : certains considèrent qu?elle permet de rapprocher la politique budgétaire des administrations infranationales des attentes des citoyens, accroît l?efficience du secteur public et évite les excès en matière de prélèvements fiscaux et de dépenses, tandis que d?autres estiment qu?elle fausse la structure d?imposition, entraîne des disparités croissantes de taux d?imposition et pénalise l?offre de services publics. Les principales conclusions de ce document sont les suivantes : la concurrence fiscale est plus forte pour les bases d?imposition mobiles (impôt sur les bénéfices des sociétés et impôt sur le revenu des personnes physiques) que pour les bases immobiles (impôts fonciers, impôts sur la consommation) ; les taux d?imposition sont généralement inférieurs dans les juridictions plus riches ; il n?y a guère de signes de « nivellement par le bas » en matière de taux d?imposition et de recettes fiscales ; les différences en termes de capacités de recouvrement de l?impôt entre juridictions – ou richesse économique – sont moins marquées dans les pays où la concurrence fiscale est plus vive. Les pays qui jugent que la concurrence fiscale est « excessive » peuvent mettre en place un mécanisme de péréquation budgétaire ou, s?il existe déjà, en revoir les modalités ; alourdir la fiscalité immobilière et réduire d?autres impôts prélevés par les administrations infranationales ; ou procéder à une certaine harmonisation des bases d?imposition des administrations infranationales. |
| Keywords: | fiscal federalism, tax competition, tax autonomy, sub-national tax policy, sub-central government, fédéralisme budgétaire, Concurrence fiscale, autonomie fiscale, politique fiscale infranationale, administration infranationale |
| JEL: | H21 H71 H77 |
| Date: | 2011–05–31 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:872-en&r=ure |
| By: | Janet Currie; Erdal Tekin |
| Abstract: | We investigate the relationship between foreclosure activity and the health of residents using zip code level longitudinal data. We focus on Arizona, California, Florida, and New Jersey, four states that have been among the hardest hit by the foreclosure crisis. We combine foreclosure data for 2005 to 2009 from RealtyTrac with data on emergency room visits and hospital discharges. Our zip code level quarterly data allow us to control for many potential confounding factors through the inclusion of fixed effects for each zip code as well as for each combination of county, quarter, and year. We find that an increase in the number of foreclosures is associated with increases in medical visits for mental health (anxiety and suicide attempts), for preventable conditions (such as hypertension), and for a broad array of physical complaints that are plausibly stress-related. They are not related to visits for cancer morbidity, which arguably should not respond as rapidly to stress. Foreclosures also have a zero or negative effect on elective procedures, as one might expect. Age specific results suggest that the foreclosure crisis is having its most harmful effects on individuals 20 to 49. We also find that larger effects for African-Americans and Hispanics than for whites, consistent with the perception that minorities have been particularly hard hit. |
| JEL: | I12 |
| Date: | 2011–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:17310&r=ure |
| By: | Jere R. Behrman (Department of Economics, University of Pennsylvania); Jorge Gallardo-Garcia (Bates White Consulting, Wash DC); Susan W. Parker (División de Economía, Centro de Investigación y Docencia Económicas – CIDE); Petra E. Todd (Department of Economics. University of Pennsylvania); Viviana Velez-Grajales (Inter-American Development Bank, IDB Headquarters, Wash DC) |
| Abstract: | Conditional cash transfer (CCT) programs have spread worldwide as a new form of social assistance for the poor. Previous evaluations of CCT programs focus mainly on rural settings, and little is known about their effects in urban areas. This paper studies the short-term (one and two-year) effects of the Mexican Oportunidades CCT program on urban children/youth. The program provides financial incentives for children/youth to attend school and for family members to visit health clinics. To participate, families had to sign up for the program and be deemed eligible. Difference-in-difference propensity score matching estimates indicate that the program is successful in increasing school enrollment, schooling attainment and time devoted to homework and in decreasing working rates of boys. |
| Keywords: | conditional cash transfer programs, matching estimators, program evaluation |
| JEL: | I21 I28 J24 |
| Date: | 2011–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:pen:papers:11-024&r=ure |