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on Urban and Real Estate Economics |
| By: | Brown, Martin; Guin, Benjamin |
| Abstract: | We study the exposure of mortgage borrowers in Switzerland to interest rate, income and house price risks and examine how the households’ choice of risky mortgages is related to individual interest rate expectations and risk-aversion. Our analysis is based on a unique data set of household mortgage applications from September 2012 until January 2014. Our assessment of risk exposure among mortgage borrowers in Switzerland is highly sensitive to the underlying assumptions on mortgage costs, household income and house value. Our main results suggest that the exposure of mortgage borrowers to interest rate and house price risks is limited in the medium-term. We further document that the choice of mortgage contract seems to be more influenced by affordability concerns than risk concerns. In particular, individual interest rate expectations hardly affect mortgage contract choice. |
| Keywords: | Mortgage Default, Mortgage Choice, Household Finance, Mortgage Risk |
| JEL: | G21 D14 R21 R31 |
| Date: | 2014–12 |
| URL: | http://d.repec.org/n?u=RePEc:usg:sfwpfi:2015:09&r=ure |
| By: | Mathä, Thomas Y.; Porpiglia, Alessandro; Ziegelmeyer, Michael (Munich Center for the Economics of Aging (MEA)) |
| Abstract: | Crossing borders, be it international or regional, often go togther with price wage or indeed wealth discontinuities. This paper identifies substantial wealth differences between Luxembourg resident households and cross-border commuter households despite their similar incomes. The av-erage (median) net wealth difference is estimated to be €367,000 (€129,000) and increases for higher percentiles. Using several different regression and decomposition techniques, spatial (regional) dif-ferences in real estate price developments, and thus differences in accumulated nominal capital gains are shown to be one main driving factor for these wealth differences. Other factors contribut-ing to the observed wealth differences are differences in age, income, education and other house-hold characteristics. |
| JEL: | D31 J61 F22 R23 R31 |
| Date: | 2014–05–01 |
| URL: | http://d.repec.org/n?u=RePEc:mea:meawpa:201411&r=ure |
| By: | Micheli, Martin; Rouwendal, Jan; Dekkers, Jasper |
| Abstract: | We estimate the effect of the Dutch-German border on house prices. In the last 40 years the development of house prices in the Netherlands and Germany has been substantially different. While the Netherlands have been hit by two real estate cycles, prices in Germany have been extraordinary stable. We develop a model for studying house prices and the impact of the border. Then we study the development of Dutch house prices close to the German border in the period 1985-2013. Next, combining German and Dutch real estate datasets, we study the jump in the housing price occurring at the border. Using different estimation strategies, we find that ask prices of comparable housing drop by about 16% when one crosses the Dutch-German border. Given that price discounts from the last observed asking price are substantially larger in Germany, we interpret our findings as indicating the willingness of Dutch households to pay up to 26% higher house prices to live among the Dutch. |
| Abstract: | Dieses Papier untersucht den Effekt der deutsch-niederländischen Grenze auf Häuserpreise. In den vergangenen 40 Jahren haben sich die Immobilienpreise in Deutschland und den Niederlanden sehr unterschiedlich entwickelt. Während in den Niederlanden zwei Immobilienzyklen zu beobachten waren, sind die Preise in Deutschland stabil geblieben. In diesem Papier entwickeln wir ein Modell, um den Effekt einer Grenze auf Hauspreise zu untersuchen. Wir untersuchen die Immobilienpreisentwicklung in den Niederlanden im deutsch-niederländischen Grenzgebiet im Zeitraum von 1985-2013. Desweiteren untersuchen wir durch Kombination eines deutschen und eines niederländischen Immobilienpreisdatensatzes, inwieweit es einen Preissprung an der Grenze gibt. Unter Verwendung unterschiedlicher Schätzmethoden finden wir, dass Angebotspreise bei Überschreiten der Grenze nach Deutschland um etwa 16% abnehmen. Da der Preisabstand zwischen Angebots- und Transaktionspreis in Deutschland deutlich größer ist, interpretieren wir dieses Ergebnis dahingehend, dass niederländische Haushalte bereit sind, bis zu 26% höhere Hauspreise in Kauf zu nehmen, um in den Niederlanden zu wohnen. |
| Keywords: | house prices,European integration,border effects |
| JEL: | R31 F15 R21 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:511&r=ure |
| By: | Fortin, Bernard (Université Laval); Yazbeck, Myra (University of Queensland) |
| Abstract: | This paper aims at opening the black box of peer effects in adolescent weight gain. Using Add Health data on secondary schools in the U.S., we investigate whether these partly flow through the eating habits channel. Adolescents are assumed to interact through a friendship social network. We propose a two-equation model. The first equation provides a social interaction model of fast food consumption. To estimate this equation we use a quasi maximum likelihood approach that allows us to control for common environment at the network level and to solve the simultaneity (reflection) problem. Our second equation is a panel dynamic weight production function relating an individual's Body Mass Index z-score (zBMI) to his fast food consumption and his lagged zBMI, and allowing for irregular intervals in the data. Results show that there are positive but small peer effects in fast food consumption among adolescents belonging to a same friendship school network. Based on our preferred specification, the estimated social multiplier is 1.15. Our results also suggest that, in the long run, an extra day of weekly fast food restaurant visits increases zBMI by 4.45% when ignoring peer effects and by 5.11%, when they are taken into account. |
| Keywords: | fast food, social interactions, peer effects, overweight, obesity, spatial models |
| JEL: | C31 I10 I12 |
| Date: | 2015–05 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp9087&r=ure |
| By: | Girum D. Abate (Aarhus University and CREATES); Niels Haldrup (Aarhus University and CREATES) |
| Abstract: | In this paper we derive a space-time model for electricity spot prices. A general spatial Durbin model that incorporates the temporal as well as spatial lags of spot prices is presented. Joint modeling of space-time effects is necessarily important when prices and loads are determined in a network of power exchange areas. We use data from the Nord Pool electricity power exchange area bidding markets. Different spatial weight matrices are considered to capture the structure of the spatial dependence process across different bidding markets and statistical tests show significant spatial dependence in the spot price dynamics. Estimation of the spatial Durbin model show that the spatial lag variable is as important as the temporal lag variable in describing the spot price dynamics. We use the partial derivatives impact approach to decompose the price impacts into direct and indirect effects and we show that price effects transmit to neighboring markets and decline with distance. In order to examine the evolution of the spatial correlation over time, a time varying parameters spot price spatial Durbin model is estimated using recursive estimation. It is found that the spatial correlation within the Nord Pool grid has been increasing over time which we interpret as evidence for an increasing degree of market integration. |
| Keywords: | Autoregressive, Spatial-Time series, Spatial dependence |
| JEL: | C32 C33 |
| Date: | 2015–05–07 |
| URL: | http://d.repec.org/n?u=RePEc:aah:create:2015-22&r=ure |
| By: | Michael Amior; Alan Manning |
| Abstract: | Local differences in US employment-population ratios and unemployment rates have persisted over many decades. Using decennial census data from 1950-2010, we investigate the reasons for this. The persistence cannot be explained by permanent differences in amenities, local demographic composition or the propensity of women to work. Population does respond strongly to differences in economic fortunes, although these movements are not large enough to eliminate shocks within a decade. Over the longer run, persistence in local joblessness is largely explained by serial correlation in the demand shocks themselves. |
| Keywords: | Local labor markets, unemployment, inactivity, internal migration, commuting |
| JEL: | J61 J64 R23 |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepdps:dp1357&r=ure |
| By: | Avdic, Daniel; Bünnings, Christian |
| Abstract: | Indirect psychological effects induced by crime are likely to contribute significantly to the total costs of crime beyond the financial costs of direct victimization. Using detailed crime statistics for the whole of Germany and linking them to individual-level mental health information from the German Socio-Economic Panel, we analyze whether local crime rates affect the mental health of residents. We estimate that a one standard deviation increase in local violent crime rates significantly decreases individual mental well-being among residents by, on average, one percent. Smaller effects are found for property and total crime rates. Results are insensitive to migration and not isolated to urban areas, but are rather driven by less densely populated regions. In contrast to previous literature on vulnerability to crime, we find that men, more educated and singles react more to variation in violent crime rates in their neighborhoods. One potential explanation could be that those who are more fearful of crime have developed better coping strategies and, hence, react less to changes in crime. |
| Abstract: | Indirekte psychologische Effekte stellen möglicherweise einen erheblichen Teil der durch Kriminalität verursachten Gesamtkosten dar. Um zu analysieren, ob regionale Kriminalitätsraten die mentale Gesundheit beeinflussen, nutzen wir detaillierte Kriminalitätsinformationen für Deutschland und verknüpfen diese mit Informationen zu individueller mentaler Gesundheit aus dem Sozio-ökonomischen Panel. Unsere Schätzergebnisse implizieren, dass der Anstieg um eine Standardabweichung in der Gewaltverbrechensrate das mentale Wohlbefinden der lokalen Bevölkerung signifikant um durchschnittlich ein Prozent reduziert. Für Eigentumsdelikte und die Gesamtkriminalitätsrate beobachten wir geringere Effekte. Die Ergebnisse werden weder durch Wohnortwechsler beeinflusst noch sind sie auf urbane Regionen begrenzt, sondern sind vielmehr durch weniger dicht besiedelte Regionen getrieben. Im Gegensatz zur Literatur zur Angst vor Kriminalität beobachten wir, dass Männer, höher Gebildete und Alleinstehende sensibler auf Veränderungen in der regionalen Gewaltverbrechensrate reagieren. Eine Erklärung hierfür könnte sein, dass diejenigen, die mehr Angst vor Kriminalität haben, entsprechende Coping-Strategien entwickelt haben und daher auch weniger auf Veränderungen in der Kriminalitätsrate reagieren. |
| Keywords: | fear of crime,spillover effect,mental health,vulnerability,neighborhood effects,panel data |
| JEL: | C23 I18 K42 R23 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:540&r=ure |
| By: | Dario Cestau; Dennis Epple; Holger Sieg |
| Abstract: | For decades, colleges and universities have struggled to increase participation of minority and disadvantaged students. Urban school districts confront a parallel challenge; minority and disadvantaged students are underrepresented in selective education programs. In referral and admission to such programs, school districts may potentially set different admission thresholds based on income and race (affirmative action), and they may potentially take account of differences in achievement relative to ability across race and income groups (profiling). We develop an econometric model that provides a unified treatment of affirmative action and profiling, estimate the model for an urban school district, and conduct counterfactual analysis. |
| JEL: | I2 |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:21232&r=ure |
| By: | Mathä, Thomas Y.; Porpiglia, Alessandro; Ziegelmeyer, Michael (Munich Center for the Economics of Aging (MEA)) |
| Abstract: | Results from the Eurosystem Household Finance and Consumption Survey reveal substantial variation in household net wealth across euro area countries that await explanation. This paper focuses on three main factors for the wealth accumulation process, i) homeownership, ii) housing value appreciation and iii) intergenerational transfers. We show that these three factors, in addition to the common household and demographic factors, are relevant for the net wealth cumulation process in all euro area countries, and moreover that, using various decomposition techniques, differences therein, in particular in homeownership rates and house price dynamics, are important for explaining wealth differences across euro area countries. |
| JEL: | D31 E21 O52 C42 |
| Date: | 2014–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:mea:meawpa:201412&r=ure |
| By: | Dascher, Kristof |
| Abstract: | Urban policy visibly molds city shape. This paper's interest is in how city shape (less visibly) molds urban policy. The paper finds: A sufficiently skewed city will look after its center. That is, the more skewed a city's shape towards the city periphery, the more likely an urban majority against any policy that could take away from the city center. This, when broadly interpreted, complements Sullivan's (1896) "form follows function" view prominent in architectural theory. Function (building uses) also follows form (building contours). Ultimately combining both views may help explain further how, and when, cities sprawl. |
| Keywords: | City Shape; City Skew; Form Follows Function; Political Economy; Sprawl |
| Date: | 2015–06–05 |
| URL: | http://d.repec.org/n?u=RePEc:bay:rdwiwi:31910&r=ure |
| By: | Pedro Paulo Orraca Romano (Department of Economics, University of Sussex, UK) |
| Abstract: | Driven by drug-trade related crimes, homicide levels in Mexico have dramatically increased since 2007. This study examines the effect of students' exposure to crime on educational outcomes. Using school level data, a panel of Mexico's primary and secondary schools from 2006 to 2012 is constructed to analyse the effect of exposure to local homicides on standardised test scores and grade failure rates. The results show that an increase of one unit in the number of homicides per 10,000 inhabitants reduces average standardised test scores between 0.0035 and 0.0142 standard deviations. This effect is larger in secondary schools, grows stronger if the homicide occurs closer to the examination date, and is relatively stable when using either total homicides or drug-trade related homicides to measure crime exposure. Higher homicides rates are also associated with an increase in the grade failure rate. It is proposed that the negative effects of crime exposure are partly due to a reduction in the number of contact hours, where students do not compensate for this by studying more outside of the school. By having a negative impact on educational outcomes, early exposure to homicides has potential long term consequences since it may affect educational attainment levels and future income streams. |
| Keywords: | Crime; Academic performance; Grade failure; Homicide; Mexico |
| JEL: | I25 O12 O54 H49 |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:sus:susewp:7715&r=ure |
| By: | Francois J Stofberg and Jan H van Heerden |
| Abstract: | TERM[1] is used to analyse the short term regional economic impact of an increase in industries’ transport costs when paying E-Tolls. Market-clearing and accounting equations allow regional economies to be represented as an integrated framework; labour adjusts to accommodate increasing transportation costs, and investments change to accommodate capital that is fixed.[2] We concluded that costs from levying E-Tolls on industries are relatively small in comparison to total transport costs, and the impact on economic aggregates and most industries are negligible: investments (-0.404%), GDP (-0.01), CPI (-0.10%). This is true even when considering costs and benefits on industries as well as consumers. Industries that experienced the greatest decline in output were transport, construction, and gold. Provinces which are closer to Gauteng, and have a greater share of severely impacted industries, experienced larger GDP and real income reductions. Mpumalanga’s decrease in GDP was 17% greater than Gauteng’s.[1] “TERM†is an acronym for “The enormous regional modelâ€, for simplicity we refer to the TERM model.[2] TERM is a bottom-up CGE model designed for highly disaggregated regional data. “CGE†is an acronym for Computable General Equilibrium. TERM models originate from Horridge et al. (2005) which are better explained in Horridge (2011). |
| Keywords: | Computable General Equilibrium Models, Regional Economics, Policy Modelling, Transport Cost |
| JEL: | C68 L91 R11 R48 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:rza:wpaper:515&r=ure |
| By: | M. C. Sale |
| Abstract: | One of the most significant changes in the South African retail landscape over the past few decades is the increase in the number and size of retail shopping centres situated in, or close to, residential areas. These shopping centres have the potential to generate both positive and negative externalities which may, in turn, be capitalised into adjacent residential property prices. However, policy makers are still unsure as to the effect of commercial land uses such as shopping centres on surrounding property prices. This study sheds light on this issue by considering the relationship between the Walmer Park Shopping Centre, situated in Nelson Mandela Bay, and surrounding residential property prices. The results of this study indicate that, in the case of the Walmer Park Shopping Centre, a statistically significant correlation between proximity to the mall and adjacent property values is present. |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:rza:wpaper:518&r=ure |
| By: | Simon Levin; Anastasios Xepapadeas |
| Abstract: | We seek to explain the emergence of spatial heterogeneity regarding development and pollution on the basis of interactions associated with the movement of capital and polluting activities from one economy to another. We use a simple dynamical model describing capital accumulation along the lines of a xed-savings-ratio Solow-type model capable of producing endogenous growth and convergence behavior, and pollution accumulation in each country with pollution diffusion between countries or regions. The basic mechanism underlying the movements of capital across space is the quest for locations where the marginal productivity of capital is relatively higher than the productivity at the location of origin. The notion that capital moves to locations of relatively higher productivity but not necessarily from locations of high concentration to locations of low concentration, does not face difficulties associated with the Lucas paradox. We show that, for a wide range of capital and pollution rates of flow, spatial heterogeneity emerges even between two economies with identical fundamental structures. These results can be interpreted as suggesting that the neoclassical convergence hypothesis might not hold under differential rates of flow of capital and polluting activities among countries of the same fundamental structure. |
| Keywords: | Transboundary flows, Capital, Pollution, Diffusion, Turing instability, Spatial heterogeneity |
| JEL: | O44 R12 Q52 C65 |
| Date: | 2015–06–07 |
| URL: | http://d.repec.org/n?u=RePEc:aue:wpaper:1512&r=ure |
| By: | Kihm, Alex; Ritter, Nolan; Vance, Colin |
| Abstract: | We explore whether non-competitive pricing prevails in Germany's retail gasoline market by examining the influence of the crude oil price on the retail gasoline price, focusing specifically on how this influence varies according to the brand and to the degree of competition in the vicinity of the station. Our analysis identifies several factors other than cost - including the absence of nearby competitors and regional market concentration - that play a significant role in mediating the influence of the oil price on the retail gas price, suggesting price setting power among stations. |
| Keywords: | panel data,quantile regression,spatial competition,gasoline market |
| JEL: | C33 Q41 R41 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:522&r=ure |
| By: | Sprietsma, Maresa; Pfeil, Lisa |
| Abstract: | We investigate the effect of peer group composition on language improvement in language classes for adults. Using unique survey data of migrants participating in an intensive language course in Germany, we find that the age and skill composition of groups affect skill acquisition as assessed by the teacher. Moreover, groups that are more heterogenuous in terms of regions of origin on average obtain improvements in language skills with a higher probability. |
| Keywords: | language skills,peer effects,migrants |
| JEL: | I21 I28 J15 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:15033&r=ure |
| By: | Plug, Erik (University of Amsterdam); van der Klaauw, Bas (VU University Amsterdam); Ziegler, Lennart (University of Amsterdam) |
| Abstract: | This paper examines whether children are better off if their parents have stronger social networks. Using data on high-school friendships of parents, we analyze whether the number and characteristics of friends affect the labor-market outcomes of children. While parental friendships formed in high school appear long lasting, we find no significant impact on their children's occupational choices and earnings prospects. These results do not change when we account for network endogeneity, network persistency and network measurement error. Only when children enter the labor market, we find that friends of parents have a marginally significant but small influence on the occupational choice of children. |
| Keywords: | social networks, occupational choice, informal job search, intergenerational effects |
| JEL: | A14 J24 J62 |
| Date: | 2015–05 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp9074&r=ure |
| By: | Bauer, Thomas K.; Breidenbach, Philipp; Schmidt, Christoph M. |
| Abstract: | Using the location of baroque opera houses as a natural experiment, Falck et al. (2011) claim to document a positive causal effect of the supply of cultural goods on today's regional distribution of talents. This paper raises serious doubts on the validity of the identification strategy underlying these estimates, though. While we are able to replicate the original results, we proceed to show that the same empirical strategy also assigns positive causal effects to the location of historical brothels and breweries. These estimated effects are similar in size and signifi cance to those of historical opera houses. We document that all these estimates reflect the importance of institutions for long-run economic growth, and that the effect of historical amenities on the contemporary local share of high skilled workers disappears upon controlling for regions' historical importance. |
| Abstract: | Anhand der Standorte barocker Opernhäuser als natürliches Experiment zeigen Falck et al. (2011) einen positiven kausalen Effekt zwischen dem regionalen Angebot an Kulturgütern und der Verteilung talentierter Personen. Dieses Papier wirft allerdings Schwächen in der angewandten Identifikationsstrategie auf. Während die Originalergebnisse replizieren werden können, zeigen wir, dass diese Identifikationsstrategie ebenso positive Effekte für die Standorte von Bordellen und Brauereien der Barockzeit liefert, die in Größe und Signifikanz denen der Opern sehr ähneln. Mit der Einbeziehung von Verwaltungssitzen und Großstädten der Barockzeit zeigen wir, dass die Ergebnisse die Wichtigkeit der Institutionen widerspiegeln. Die Effekt der anderen historischen Gegebenheiten verschwinden, wenn für die institutionelle Wichtigkeit kontrolliert wird. |
| Keywords: | human capital,historical amenities,regional competiveness |
| JEL: | R11 H42 J24 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:493&r=ure |
| By: | an de Meulen, Philipp; Micheli, Martin; Schaffner, Sandra |
| Abstract: | This data report presents a dataset on residential real estate prices in Germany provided by ImmobilienScout24 and introduces real estate price indices of labor market regions. The dataset consists of online adverts of houses and apartments that are available for rent or sale. The dataset complements already existing datasets in two ways: First, it is available almost without any time lag, allowing the analysis of most recent developments. Second, the high market share of ImmobilienScout24 results in a high number of observations, which gives the opportunity to use the data for analyses on a small regional scale. |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwimat:80&r=ure |
| By: | Melissa S. Kearney; Phillip B. Levine |
| Abstract: | Sesame Street is one of the largest early childhood interventions ever to take place. It was introduced in 1969 as an educational, early childhood program with the explicit goal of preparing preschool age children for school entry. Millions of children watched a typical episode in its early years. Well-designed studies at its inception provided evidence that watching the show generated an immediate and sizeable increase in test scores. In this paper we investigate whether the first cohorts of preschool children exposed to Sesame Street experienced improved outcomes subsequently. We implement an instrumental variables strategy exploiting limitations in television technology generated by distance to a broadcast tower and UHF versus VHF transmission to distinguish counties by Sesame Street reception quality. We relate this geographic variation to outcomes in Census data including grade-for-age status in 1980, educational attainment in 1990, and labor market outcomes in 2000. The results indicate that Sesame Street accomplished its goal of improving school readiness; preschool-aged children in areas with better reception when it was introduced were more likely to advance through school as appropriate for their age. This effect is particularly pronounced for boys and non-Hispanic, black children, as well as children living in economically disadvantaged areas. The evidence regarding the impact on ultimate educational attainment and labor market outcomes is inconclusive. |
| JEL: | I24 J24 |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:21229&r=ure |
| By: | Francesco Di Comite (European Commission JRC-IPTS); d’Artis Kancs (European Commission JRC-IPTS) |
| Abstract: | This report compares R&D modelling approaches in four macroeconomic models used by the European Commission for ex-ante policy impact assessment: one Dynamic Stochastic General Equilibrium (DSGE) model – QUEST; one Spatial Computable General Equilibrium (SCGE) model – RHOMOLO; one Computable General Equilibrium (CGE) model – GEM-E3; and one macro-econometric model – NEMESIS. The report critically compares particularly those parts of the four models that are relevant to R&D transmission mechanisms and interfaces for implementing policy shocks. Given that R&D investment decisions are inherently dynamic, QUEST appears to be the most suitable model for assessing the impact of R&D and innovation policies over time, as it is the only model with inter-temporal optimisation of economic agents. In order to address questions related to geographic concentration of innovative activities and spatial knowledge spillovers, RHOMOLO has a comparative advantage, as it is the only one which models regional economies and spatial interactions between them explicitly. Due to its detailed treatment of energy sectors and environmental issues, GEM-E3 appears to be the most suitable model for assessing the impact of innovation in clean energy. For a more detailed modelling of different types of innovation measures, NEMESIS can provide valuable insights thanks to its richness in estimating and accounting for specific channels of innovation. We also identify avenues for future research, which in our view could improve the modelling of R&D and innovation policies both from a conceptual and empirical perspective. |
| Keywords: | RHOMOLO, QUEST, GEM-E3, NEMESIS, Macro-Economic Models, General Equilibrium, R&D Policies |
| JEL: | C68 D24 D58 H50 O31 O32 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:wpaper:201503&r=ure |
| By: | Ovtchinnikov , Alexei; Cooper , Michael |
| Abstract: | Recent work has shown that where a firm is located matters for such things as dividend and investment policy, governance, liquidity, equity and debt issuance, and risk exposure. These effects seem to exist, in part, because of managements' desire to minimize agency problems related to monitoring and relationship building that vary as a function of firm distance from agents. The authors expand the current location literature by showing that firm location characteristics, not just distance per se, are important. They develop a geographical-based vibrancy index using important location characteristics from the Urban Economics literature that measure local economic health. We show that the vibrancy index not only predicts firm policy variables such as investment and leverage, but also predicts firm performance and firm value. The local effects are strong, adding up to a 50% increase in explanatory power above industry effects. Our results indicate that the local vibrancy of a firm headquarters is an important determinant of firm policies and profitability. |
| Keywords: | geography; firm location; vibrancy; firm characteristics; firm performance |
| JEL: | G10 G11 G23 |
| Date: | 2015–03–16 |
| URL: | http://d.repec.org/n?u=RePEc:ebg:heccah:1090&r=ure |
| By: | Asian Development Bank (ADB); Asian Development Bank (ADB) (Economics and Research Department, ADB); Asian Development Bank (ADB) (Economics and Research Department, ADB); Asian Development Bank (ADB) |
| Abstract: | The urban metabolism framework maps the activities of cities from their consumption of materials, the different activities associated with those processes, and the wastes produced. Information generated provides a diagnostic tool for identifying high waste generating or inefficient activities and identifying potential points of policy intervention. A streamlined urban metabolism approach based on material flow analyses was applied to six Asian cities—Bangalore, Bangkok, Ho Chi Minh City, Manila, Seoul and Shanghai. The streamlined approach surmounts the lack of city level data, which is often cited as the most significant limitation preventing material flow analysis at the city level. Extension of the methodology to cover more cities can contribute towards creating benchmarks for city typologies. |
| Keywords: | Urbanization; Urban Metabolism; Asian Development Bank |
| Date: | 2014–09 |
| URL: | http://d.repec.org/n?u=RePEc:asd:wpaper:rpt146817-2&r=ure |
| By: | Esser, Hartmut (University of Mannheim); Relikowski, Ilona (University of Bamberg) |
| Abstract: | It is still taken for granted that (early) ability tracking increases the impact of social origin on achievement in (lower) secondary education, but without gains in the overall level. This contribution addresses the question of whether this common conviction is really correct. The various deviations and inconsistencies obtained from analyses that use other approaches and data bases form the starting point. On the basis of a general theoretical model, the Model of Ability Tracking, we specify the preconditions for identifying the effects of ability tracking. These include considering the school level as well as cognitive abilities prior to ability tracking at the end of elementary school. Both conditions aren't included in common analyses using PISA data. As a consequence, effects of social origin have been systematically overestimated and those of cognitive abilities haven't been detected in the respective studies at all. Because PISA data are lacking information on cognitive abilities in the institutional sorting at the end of primary school and no other appropriate data set to compare educational systems is available, these assumptions will be tested with another data base: the BIKS-study. This study allows using the different levels of strictness of the institutional rules concerning ability tracking in the two country states Bavaria and Hesse in Germany. The results support the presumptions of the Model of Ability Tracking: If school effects on the one hand and cognitive abilities on the other hand were taken into account, all effects of a reinforcement of social origin disappear and increases in school effects of abilities on achievement are observed in Bavaria, the country state with an especially strict rule for ability tracking. Applying the misspecifications of the other approaches to these data, one again obtains their misleading findings, and they disappear by approaching the analyses to the specifications of the Model of Ability Tracking. |
| Keywords: | educational systems, ability tracking, educational inequality, education and social origin, cognitive ability and educational achievement, school-effects, PISA-studies |
| JEL: | I20 I24 I28 |
| Date: | 2015–05 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp9082&r=ure |
| By: | Roy Cerqueti; Marcel Ausloos |
| Abstract: | This paper explores the relationship between the inner economical structure of communities and their population distribution through a rank-rank analysis of official data, along statistical physics ideas within two techniques. The data is taken on Italian cities. The analysis is performed both at a global (national) and at a more local (regional) level in order to distinguish "macro" and "micro" aspects. First, the rank-size rule is found not to be a standard power law, as in many other studies, but a doubly decreasing power law. Next, the Kendall and the Spearman rank correlation coefficients which measure pair concordance and the correlation between fluctuations in two rankings, respectively, - as a correlation function does in thermodynamics, are calculated for finding rank correlation (if any) between demography and wealth. Results show non only global disparities for the whole (country) set, but also (regional) disparities, when comparing the number of cities in regions, the number of inhabitants in cities and that in regions, as well as when comparing the aggregated tax income of the cities and that of regions. Different outliers are pointed out and justified. Interestingly, two classes of cities in the country and two classes of regions in the country are found. "Common sense" social, political, and economic considerations sustain the findings. More importantly, the methods show that they allow to distinguish communities, very clearly, when specific criteria are numerically sound. A specific modeling for the findings is presented, i.e. for the doubly decreasing power law and the two phase system, based on statistics theory, e.g., urn filling. The model ideas can be expected to hold when similar rank relationship features are observed in fields. It is emphasized that the analysis makes more sense than one through a Pearson value-value correlation analysis. |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1506.02414&r=ure |
| By: | Draca, Mirko; Koutmeridis, Theodore; Machin, Steve |
| Abstract: | In economic models of crime individuals respond to changes in the potential value of criminal opportunities. We analyse this issue by estimating crime-price elasticities from detailed data on criminal incidents in London between 2002 and 2012. The unique data feature we exploit is a detailed classification of what goods were stolen in reported theft, robbery and burglary incidents. We first consider a panel of consumer goods covering the majority of market goods stolen in the crime incidents and find evidence of significant positive price elasticities. We then study a particular group of crimes that have risen sharply recently as world prices for them have risen, namely commodity related goods (jewellery, fuel and metal crimes), finding sizable elasticities when we instrument local UK prices by exogenous shifts in global commodity prices. Finally, we show that changes in the prices of loot from crime have played a role in explaining recent crime trends. |
| Keywords: | commodity prices; crime; goods prices; metal crime |
| JEL: | K42 |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:10647&r=ure |
| By: | Ehrmann, Michael; Ziegelmeyer, Michael (Munich Center for the Economics of Aging (MEA)) |
| Abstract: | Mortgages constitute the largest part of household debt. An essential choice when taking out a mortgage is between fixed-interest-rate mortgages (FRMs) and adjustable-interest-rate mortgages (ARMs). However, so far, no comprehensive cross-country study has analyzed what determines household demand for mortgage types, a task that this paper takes up using new data for the euro area. Our results support the hypothesis of Campbell and Cocco (2003) that the decision is best described as one of household risk management: income volatlity reduces the take-out of ARMs, while increasing duration and relative size of the mortgages increase it. Controlling for other supply factors through country fixed effects, loan pricing also matters, as expected, with ARMs becoming more attractive when yield spreads rise. The paper also conducts a simulation exercise to identify how the easing of monetary policy during the financial crisis affected mortgage holders. It shows that the resulting reduction in mortgage rates produced a substantial decline in debt burdens among mortgage-holding households, especially in countries where households have higher debt burdens and a larger share of ARMs, as well as for some disadvantaged groups of households, such as those with low income. |
| JEL: | D12 E43 E52 G21 |
| Date: | 2014–04–14 |
| URL: | http://d.repec.org/n?u=RePEc:mea:meawpa:201406&r=ure |
| By: | Görlitz, Katja; Rzepka, Sylvi |
| Abstract: | Using data from the National Educational Panel Study of 2009/2010, this paper investigates the relationship between regional training supply and employees' training participation. Controlling for other regional factors such as the local unemployment rate, the educational level, the population density and the regional industry composition, the results indicate that training participation is significantly higher in regions with many firms in the training supply market. The predictive power of the other regional factors is rather minor. |
| Abstract: | Dieser Artikel untersucht den Zusammenhang zwischen der Weiterbildungsbeteiligung von Arbeitnehmern und dem regionalem Weiterbildungsangebot (gemessen als Zahl der Weiterbildungsanbieter pro km2 in der Region). Die Analyse basiert auf den Mikrodaten der Erwachsenen Kohorte des Nationalen Bildungspanels 2009/10. Es wird ein lineares Wahrscheinlichkeitsmodell geschätzt, welches neben individuellen und firmenspezifischen ebenso für weitere regionale Faktoren (wie die Arbeitslosenquote, die Qualifikationsstruktur der Arbeitnehmer, die Bevölkerungsdichte und die industrielle Struktur) kontrolliert. Im Ergebnis zeigt sich ein positiver, statistisch signifikanter Zusammenhang zwischen der Anzahl der Weiterbildungsanbieter im lokalen Arbeitsmarkt und der Weiterbildungsbeteiligung von Arbeitnehmern. Die übrigen regionalen Faktoren erklären nur zu einem geringeren Maße die individuelle Weiterbildungswahrscheinlichkeit. |
| Keywords: | training,local labor markets |
| JEL: | J24 R12 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:479&r=ure |
| By: | Christian Krekel; Alexander Zerrahn |
| Abstract: | We investigate the effect of the physical presence of wind turbines on residential wellbeing in Germany, using panel data from the German Socio-Economic Panel (SOEP) and a unique novel panel data set on more than 20,000 wind turbines for the time period between 2000 and 2012. Using a Geographical Information System (GIS), we calculate the proximity between households and the nearest wind turbine as the most important determinant of their disamenities, e.g. visual interference into landscape aesthetics. Our unique novel panel data set on wind turbines, which was collected at the regional level, includes their exact geographical coordinates and construction dates. This allows estimating the causal effect of the physical presence of wind turbines on residential wellbeing, using a difference-in-differences design. To ensure comparability of the treatment and control group, we apply propensity-score and novel spatial matching techniques based on exogenous weather data and geographical locations of residence, respectively. We show that the construction of a wind turbine within a treatment radius of 4,000 metres around households has a significantly negative effect on life satisfaction. For larger treatment radii, no negative externalities can be detected. Moreover, the effect is transitory, vanishing after five years at the latest. As wind turbines are addressed at avoiding negative externalities of local pollutant and global greenhouse gas emissions, they fulfil an important role in the de-carbonization of electricity systems world-wide. Comparing the imposed spatially and temporally limited externalities with the avoided externalitiesfrom emissions, the positive impact of wind turbines is by several magnitudes higher than the negative. |
| Keywords: | Life satisfaction, social acceptance, wind power, wind turbines, renewables, externalities, SOEP, GIS, spatial analysis |
| JEL: | C23 Q42 Q51 R20 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwsop:diw_sp760&r=ure |
| By: | Iimi,Atsushi; Humphrey,Richard Martin; Melibaeva,Sevara |
| Abstract: | Agglomeration economies are among the most important factors to increase firm productivity. However, there is little evidence supportive of this in Africa. By applying the conditional and nested logit models, this paper examines the relationship between firm locations and infrastructure accessibility in Rwanda. It is found that agglomeration economies matter to even one of the smallest countries in Africa. It is also found that infrastructure availability has an important role in affecting the firm location decision. Electricity access and transport connectivity to the domestic and international markets are found to be important to attract new investment. In addition, the quality of local labor supplied, measured by educational attainment, is found as an important determinant of firm location, while the effect of labor costs remains inconclusive. |
| Keywords: | Transport Economics Policy&Planning,E-Business,Economic Theory&Research,Private Participation in Infrastructure,Microfinance |
| Date: | 2015–05–29 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:7279&r=ure |
| By: | Semrad, Alexandra |
| Abstract: | This paper analyses long-term effects of forced WWII migration on educational outcomes. Specifically Sudeten German expellees in post-war Bavaria coming from highly industrialized Sudetenland (Czechoslovakia) had strong preferences for higher secondary schooling, especially in form of a practical, business-related, and general education school. As a result they became actively engaged in the development of post-war middle track education (Realschule, Fachschule). Employing county-level data on student numbers and graduates of secondary education, empirical analysis including ordinary least squares, instrumental variable, and differences-in-differences models reveals that counties housing a higher share of Sudeten Germans after the war are significantly associated with higher educational development some 20 years later. An increase in the share of Sudeten Germans by 1 percentage point increases the share of children (graduates) in middle track education by at least 0.8 (0.1) percentage points, respectively. Calculations suggest that these effects are not mechanically caused by Sudeten Germans and their children demanding education, but are the actual result of educational spillovers to the local population. |
| Keywords: | Educational spillovers; Forced migration; Post-war Bavaria |
| JEL: | I29 N34 O15 |
| Date: | 2015–05 |
| URL: | http://d.repec.org/n?u=RePEc:lmu:muenec:24851&r=ure |
| By: | Adel Al-Bataineh (Illinois State University); David Hallatt (Illinois State University); Megan Huss (Illinois State University); Catherine Unsbee (Illinois State University) |
| Abstract: | As technology becomes more prevalent throughout society, schools must adapt to effectively utilize technology in support of classroom instruction and assessment. This study focused on a comparison of three forms of technology that may be used in public middle and high schools for digital submission of student work. Student usage of Moodle, Gaggle, and Google Drive at one middle school and one high school in central Illinois was monitored. Researchers sought to answer how the rate of homework completion was affected by use of digital versus traditional submission of assignments as well as gain insight to teacher and student perceptions of the technology. In the course of this study, researchers identified a significant decrease in student return rates of homework when digital submission was utilized instead of traditional submission. This decrease was observed across all grade levels. Teacher and student perceptions of the technology were mixed, indicating a divide in both use and preference for or against digital submission. |
| Keywords: | Homework Completion; Traditional vs. Digital Homework Submission; Teachers' & Students' perceptions; Middle and High School |
| JEL: | I29 O39 I21 |
| URL: | http://d.repec.org/n?u=RePEc:sek:itepro:2404218&r=ure |
| By: | Garmann, Sebastian |
| Abstract: | This paper examines the causal effect of a change in the nomination scheme of the city manager from appointment by the local council to election by the citizens on urban development policies. Using the fact that the timing of the reform was as good as random in municipalities of the German state Hesse, I can utilize a difference-in-difference framework to estimate this causal effect. I find that when the city manager is elected by the voters, there is significantly less urban development than when the city manager is appointed by the municipal council. |
| Abstract: | Dieses Papier untersucht, welchen kausalen Einfluss die Einführung der Wahl der Spitze der öffentlichen Verwaltung durch die Gemeindebürger anstelle der Bestimmung durch den Stadtrat auf die Stadtentwicklung in hessischen Gemeinden hatte. Durch die Tatsache, dass das Datum der Einführung zufällig zwischen den einzelnen Gemeinden variierte, kann dieser kausale Effekt mit Hilfe eines difference-in-differences-Ansatzes geschätzt werden. Die Ergebnisse zeigen, dass die Einführung von Wahlen einen signifikant negativen Effekt auf die Stadtentwicklung hatte. |
| Keywords: | urban development policies,form of local government,land use regulations,building licenses,difference-in-difference estimation,natural experiment |
| JEL: | H7 Q15 R52 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:476&r=ure |
| By: | Breining, Sanni (Aarhus University); Daysal, N. Meltem (University of Southern Denmark); Simonsen, Marianne (Aarhus University); Trandafir, Mircea (University of Southern Denmark) |
| Abstract: | We investigate the spillover effects of early-life medical treatments on the siblings of treated children. We use a regression discontinuity design that exploits changes in medical treatments across the very low birth weight (VLBW) cutoff. Using administrative data from Denmark, we first confirm the findings in the previous literature that children who are slightly below the VLBW cutoff have better short- and long-term health, and higher math test scores in 9th grade. We next investigate spillover effects on siblings and find no evidence of an impact on their health outcomes. However, we find substantial positive spillovers on all our measures of academic achievement. Our estimates suggest that siblings of focal children who were slightly below the VLBW cutoff have higher 9th grade language and math test scores, as well as higher probability of enrolling in a high school by age 19. Our results suggest that improved interactions within the family may be an important pathway behind the observed spillover effects. |
| Keywords: | medical care, birth, children, schooling, spillovers |
| JEL: | I11 I12 I18 I21 J13 |
| Date: | 2015–05 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp9086&r=ure |
| By: | Bechara, Peggy; Eilers, Lea; Paloyo, Alfredo R. |
| Abstract: | Using a uniquely assembled panel dataset, we estimate the impact of neighborhood and peer effects on female labor supply. Nonrandom sorting and unobserved heterogeneity at the individual and neighborhood levels make recovering these impact parameters more complicated in the absence of (quasi-)experimental variation in neighborhood attributes. Our estimation strategy rests on using a hedonic pricing model to control for neighborhood-level unobserved heterogeneity and using a fixed-effects approach to account for the correlation induced by individual time-invariant unobservables. The results suggest that women's participation behavior is significantly associated with peer and neighborhood attributes. The extensive margin is driven by the average female employment rate; the intensive margin is driven by the average share of fulltime employed females in the neighborhood. These relationships are stronger in the subsample of mothers. However, these statistically significant associations do not survive when we control for individual time-invariant unobservable heterogeneity. |
| Abstract: | Unter Verwendung eines kombinierten Datensatzes, in dem Individualdaten um Nachbarschaftsinformationen ergänzt wurden, wird in diesem Papier der Einfluss der Nachbarschaft auf das individuelle Arbeitsangebot von Frauen untersucht. Aufgrund von Selbstselektion in bestimmte Nachbarschaften und unbeobachtbarer Heterogenität auf Individual- und Nachbarschaftsebene wird die Identifikation dieser Effekte ohne eine (quasi)-experimentelle Variation in den Nachbarschaftsattributen erschwert. Daher stützt sich unsere Identifikationsstrategie auf ein hedonisches Preismodell, welches für unbeobachtbare Heterogenität auf der Nachbarschaftsebene kontrolliert, und auf einen Fixed-Effects-Ansatz, der unbeobachtbare individuelle Faktoren berücksichtigt, die über die Zeit konstant bleiben. Die Ergebnisse deuten darauf hin, dass die Arbeitsmarktpartizipation signifikant mit Nachbarschaftsattributen korreliert ist. Während das extensive Arbeitsangebot besonders stark mit der durchschnittlichen Beschäftigungsquote von Frauen korreliert ist, wird das intensive Arbeitsangebot durch den Anteil der vollzeitbeschäftigten Frauen in der Nachbarschaft getrieben. Diese Effekte sind stärker im Subsample der Mütter ausgeprägt. Sobald wir für unbeobachtbare zeitinvariante individuelle Heterogenität kontrollieren, sind die Nachbarschaftseffekte auf das Arbeitsangebot insignifikant. |
| Keywords: | neighborhood effects,female labor supply,social interactions,peer effects |
| JEL: | R23 J13 J22 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:535&r=ure |
| By: | Mathä, Thomas Y.; Porpiglia, Alessandro; Ziegelmeyer, Michael (Munich Center for the Economics of Aging (MEA)) |
| Abstract: | This paper analyses empirically how cross-border consumption varies across product and services categories and across household characteristics. It focuses on the part of crossborder sales that arise due to work-related cross-border crossings; it analyses the crossborder consumption behaviour of cross-border commuter households residing in Belgium, France and Germany and working in Luxembourg. In total, it is estimated that these households spend €925 million per annum in Luxembourg, reflecting about 17% of their gross annual income from Luxembourg and contributing about 10% to total household final consumption expenditure in Luxembourg. Cross-border consumption expenditure is shown to depend on individual and household characteristics, such as total household income, the number of cross-border commuters in the household, distance between home and work, as well as price level (index) differences between Luxembourg and its neighbouring countries. Cross-border commuters take advantage of existing arbitrage opportunities. |
| JEL: | F15 R12 R23 J61 |
| Date: | 2014–04–14 |
| URL: | http://d.repec.org/n?u=RePEc:mea:meawpa:201407&r=ure |
| By: | Asian Development Bank (ADB); Asian Development Bank (ADB) (East Asia Department, ADB); Asian Development Bank (ADB) (East Asia Department, ADB); Asian Development Bank (ADB) |
| Abstract: | This report provides an overview of important urban poverty questions. What defines urban poverty and how is urban poverty being measured? What other factors beyond consumption poverty need to be tackled? Who are the urban poor? What relations exist between urban poverty and city size? What linkages exist between urbanization, income, and urban poverty? What policy responses to urban poverty are implemented in selected Asian countries? The report served as a background study for the International Policy Workshop on Urban Poverty and Inclusive Cities in Asia, organized by the Asian Development Bank and the International Poverty Reduction Center held from 24–25 June 2013 in Suqian, Jiangsu Province, the People’s Republic of China. |
| Keywords: | Poverty reduction, urban development, urbanization, urban poor, income poverty |
| Date: | 2014–09 |
| URL: | http://d.repec.org/n?u=RePEc:asd:wpaper:rpt146730-2&r=ure |
| By: | Abdullah Sürücü (Necmettin Erbakan University Ahmet Kelesoglu Education Faculty); Atila Y (Necmettin Erbakan University Ahmet Kelesoglu Education Faculty); Ali Ünal (Necmettin Erbakan University Ahmet Kelesoglu Education Faculty) |
| Abstract: | What is expected from schools is to provide a safe learning environment which is suitable for raising socialized adults who will be the producing members of the society. School safety is a safe environment where mainly students and teachers and directors at school feel at home and continue their education without experiencing any anxieties and fears. Subjective well-being is a general evaluation with regard to the life satisfactions and positive - negative sensations of the individuals. This evaluation includes the individuals’ emotional reactions to the events, moods, life satisfactions, cognitive judgments about life satisfactions and satisfactions in living areas such as marriage and work. People experience a high subjective well-being whenever they feel many pleasant and a few unpleasant feelings, whenever they are involved in interesting activities, whenever they experience much happiness and a little sorrow and whenever they are satisfied from their lives. The purpose of this research is to determine school safety and subjective well-being levels based on the opinions of the teachers and students who work at the public high schools in the central districts of Konya province. This research is considered important in terms of determining the opinions of those who spend most of their time at schools in order to provide a safe environment, revealing the existing problems and bringing solution suggestions. The research was carried out in survey model due to its conformity with the subject and purposes. Comparison type survey method was used in the solution of the data. The population of the research consists of all secondary education teachers and students within the borders of Konya province. The schools, teachers and students which are included in the sampling group were determined randomly. “Subjective Well-Being Scale” which was developed by Tuzgöl Dost (2005) and “School Safety Scale” which was developed by Goldberg (2008) and adapted into Turkish by Çankaya and Arabac |
| Keywords: | School Safety, Subjective Well-Being, Teachers and Students. |
| JEL: | I29 |
| URL: | http://d.repec.org/n?u=RePEc:sek:itepro:2404075&r=ure |
| By: | Mustafa YAVUZ (Necmettin Erbakan University); Sevil KARACA (Principal of Fetihkent Preschool) |
| Abstract: | Preschool education is critically important for the development of a child. Because education in this period is such that it affects the individual's future periods. The basis of personality development is discarded by pre-school education in the pre-school period. Larkin (1999), overlooking the differences in structure and size relationships between pre-school education institutions and education institutions in other steps, indicates that the hierarchy in the pre-school institutions is overall flat. From this point, he refers that the attainability to the manager in pre-school educational institutions is easier compared to theother educational institutions. In addition, students and in terms of the number of employees to be small units and to be more intense than the other education levels of the parents to the school level of communication are among the other remarkable features of this school organization. School principal, establishing of communication in school, ensuring co-manipulations and evaluating what has been done provides school to be effective and successful. School principals must use the decision mechanism to bring the school to its purposes. School principal is a person who creates and shapes a school culture fulfilling the tasks. Therefore, in this study the importance, objectives, principles and development of the pre-school education examined in details, later the relationships of the principal and the teacher in the pre-school education studied.The data in this study collected with"semi-structured interview technique" located in the interviews method which isone of the data collection methods in qualitative research and analyzed by the content analysis method. Acoorting to research Whether principals have the communication skills, they attempt to understand them and take the time to listen to them enough, pre-school education teachers consulted their ideas. Preschool education teachers consulted about whether they have faced in transferring ideas and problemsexactly to the principals,said that they are able to explain their ideas and issues generally, they have no difficulties in this regard, but they have shared it witha manager in their own branches more comfortably. Pre school teachers were forced little to criticize the principals generally, but principals take into account their views. |
| Keywords: | Pre school, Communication, Principal, Teacher |
| JEL: | A00 A00 |
| URL: | http://d.repec.org/n?u=RePEc:sek:itepro:2404110&r=ure |
| By: | Omar McDoom; Rachel M. Gisselquist |
| Keywords: | Ethnic relations, Religion |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:unu:wpaper:wp2015-022&r=ure |
| By: | Breidenbach, Philipp |
| Abstract: | This paper analyzes whether the expansion of regional airports in Germany caused positive spillover effects on the surrounding economies, exploiting the deregulation of the European aviation market as a quasi-experiment. Such potential spillovers are often used as an argument for the substantial annual subsidies to airports. Previous evaluations often suffer from the problem of reverse causality, since investment decisions are based on the economic conditions of the region. By contrast, the aviation deregulation under the Single European Market-initiative provides an exogenous incentive for investing in the expansion of existing regional airports. A difference-in-differences approach is used to estimate the causal effects of this expansion on regional growth. The results are sobering, though, as there is no evidence for any positive spillover effects. |
| Abstract: | In den vergangenen Jahrzehnten wurden Millionenbeträge in den Ausbau deutscher Regionalflughäfen investiert, um modernen Ansprüchen zu genügen und vom rasanten Wachstum des Luftverkehrsmarktes zu profitieren. Im Gegensatz zu diesen großen Erwartungen sind heute fast alle Regionalflughäfen von massiven Subventionen abhängig und die Entscheidung der Europäischen Kommission, ebensolche Subventionen ab dem Jahr 2024 zu verbieten, stellt eine existenzielle Bedrohung einiger Flughäfen dar. Befürworter sehen den engen Fokus auf die direkten Verluste der Flughäfen als ungeeignet und führen positive Spillover-Effekte der Flughäfen an, die das Wachstum umliegender Regionen unterstützen. Empirische Analysen dazu vernachlässigen allerdings häufig die Endogenitätsprobleme, die vor allem darauf beruhen, dass Regionalflughäfen auch als Folge prosperierender regionalwirtschaftlicher Entwicklungen entstehen. Dieses Papier nutzt die Deregulierung des europäischen Luftfahrtmarktes als exogenen Anreiz für Investitionen und zeigt anhand eines Differenz-in-Differenzen Ansatzes, dass der massive Ausbau der Regionalflughäfen kein wirtschaftliches Wachstum in umliegenden Regionen generiert hat. Regionalflughäfen werden daher eher als Folge und nicht als Ursache regionaler Entwicklungen gesehen. |
| Keywords: | infrastructure investment,regional growth,airport effects |
| JEL: | R51 R42 H54 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:549&r=ure |
| By: | Herber, Stefanie P.; Quis, Johanna Sophie; Heineck, Guido |
| Abstract: | We use international student assessment data on more than 22,000 students from six European countries and a regression discontinuity design to investigate whether the transition into daylight saving time (DST) affects elementary students' test performance in the week after the time change. We do not find reliable statistical effects on students' performance, neither in math, science nor reading. Our results therefore challenge the prevailing public opinion that DST should be abandoned because of its detrimental effects on school children's performance. |
| Keywords: | Daylight saving time,school achievement tests,cognitive performance,natural experiment,regression discontinuity design,TIMSS,PIRLS |
| JEL: | D04 H41 I20 I29 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:bamber:100&r=ure |
| By: | Clara Welteke |
| Abstract: | Individuals do not exist in isolation but are embedded within networks of relationships, such as families, coworkers, neighbors, friendships or socioeconomic groups. While there is a long tradition in sociology and anthropology focusing on theimportance of social structure, norms and culture, economists have long ignored social influences on individual behavior. Even though social influences may play an important role in the evaluation of policies, economic evaluations are typicallyfocused on the central question how individuals independently respond to financial incentives. However, economic reforms or the introduction of new policy instruments are likely to affect individuals not only directly by the change in financial incentives, but also indirectly by a change in the behavior of the social environment. At the workplace, one can distinguish four contexts where peer effects may be relevant factors in explaining the observed outcomes; these are (a) job search and employment probabilities; (b) fertility, parental leave and female labor supply; (c) productivity and work place behavior; and (d) retirement and pension plan decisions. Consequently, it is of large importance to understand and predictsocial interaction effects in these four areas of research and comprehend the implications for economic policy. In the following, I will give an overview of the existing literature in each of the contexts where peer effects at work may evolve, after briefly discussing the challenges associated with the empirical analysis of peer effects. |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwrup:68en&r=ure |
| By: | Enrico Spolaore; Romain Wacziarg |
| Abstract: | We explore the interrelationships between various measures of cultural distance. We first discuss measures of genetic distance, used in the recent economics literature to capture the degree of relatedness between countries. We next describe several classes of measures of linguistic, religious, and cultural distances. We introduce new measures of cultural distance based on differences in average answers to questions from the World Values Survey. Using a simple theoretical model we hypothesize that ancestral distance, measured by genetic distance, is positively correlated with linguistic, religious, and cultural distance. An empirical exploration of these correlations shows this to be the case. This empirical evidence is consistent with the view that genetic distance is a summary statistic for a wide array of cultural traits transmitted intergenerationally. |
| JEL: | F14 O11 O33 O47 O57 Z1 |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:21242&r=ure |
| By: | Polyakov, Maksym; Fogarty, James; Zhang, Fan; Pandit, Ram; Pannell, David J. |
| Abstract: | Many urban streams have been cleared of native vegetation and converted to open drains resulting in a loss of ecological and aesthetic function. There is a growing recognition of the importance of these functions and work is being done to restore urban drains and create fully functioning wetland ecosystems (“living streams”). Such restoration work involves substantial cost, and it is important to know if the benefits generated from “living streams” are greater than restoration costs. This paper presents a detailed economic analysis of an urban drain restoration project in Perth, Western Australia. Controlling for other factors, we find homes within 200m of the restoration site increased in value by 4.4% once the restored area became fully established. When we compare benefits to cost we find that, with real discount rates of 5%, 7%, and 9%, project benefit−cost ratios are 2.6, 2.5, and 2.2, respectively. We then show that current institutional arrangements in Western Australia make it difficult to implement urban drain restoration projects, even when project benefits are greater than project costs. The paper concludes by identifying changes to governance arrangements that would allow value enhancing restoration projects to be undertaken. |
| Keywords: | Stream restoration, Water Sensitive Urban Design, Economic valuation, Hedonic Pricing Method, Governance, Environmental Economics and Policy, Land Economics/Use, Q51, Q58, R22, |
| Date: | 2015–06–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:uwauwp:206300&r=ure |
| By: | Gould, Eric D |
| Abstract: | This paper investigates whether the increasing “residual wage inequality” trend is related to manufacturing decline and the influx of low-skilled immigrants. There is a vast literature arguing that technological change, international trade, and institutional factors have played a significant role in the inequality trend. However, most of the trend is unexplained by observable factors. This paper attempts to “explain” the growth in the unexplained variance of wages by exploiting variation across locations (states or cities) in the United States in the local level of “residual inequality.” The evidence shows that a shrinking manufacturing sector increases inequality. In addition, an influx of low-skilled immigrants increases inequality, but this effect is concentrated in areas with a steeper manufacturing decline. Similar results are found for two alternative measures linked to increasing inequality: the increasing return to education and the decline in the employment rate of non-college men. The overall evidence suggests that the manufacturing and immigration trends have hollowed-out the overall demand for middle-skilled workers in all sectors, while increasing the supply of workers in lower skilled jobs. Both phenomena are producing downward pressure on the relative wages of workers at the low end of the income distribution. |
| Keywords: | low-skilled immigration; manufacturing decline; residual wage inequality |
| JEL: | J31 |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:10649&r=ure |
| By: | Iimi,Atsushi; You,Liangzhi; Wood-Sichra,Ulrike; Humphrey,Richard Martin |
| Abstract: | Africa is estimated to have great potential for agricultural production, but there are a number of constraints inhibiting the development of that potential. Spatial data are increasingly important in the realization of potential as well as the associated constraints. With crop production data generated at 5-minute spatial resolution, the paper applies the spatial tobit regression model to estimate the possible impacts of improvements in transport accessibility in East Africa. It is found that rural accessibility and access to markets are important to increase agricultural production. In particular for export crops, such as coffee, tea, tobacco, and cotton, access to ports is crucial. The elasticities are estimated at 0.3?4.6. In addition, the estimation results show that spatial autocorrelation matters to the estimation results. While a random shock in a particular locality would likely affect its neighboring places, the spatial autoregressive term can be positive or negative, depending on how fragmented the current production areas are. |
| Keywords: | Transport Economics Policy&Planning,Climate Change and Agriculture,Rural Development Knowledge&Information Systems,Crops and Crop Management Systems,Food&Beverage Industry |
| Date: | 2015–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:7281&r=ure |
| By: | E. Carroni; B. Cesi; D. Paolini |
| Abstract: | We study the effects of introducing a new university in a two-city model where individuals with heterogeneous innate ability choose whether to attend university. When attending university, they benefit from a peer group effect given by the average ability they share with the university. However, attendance implies the payment of a tuition fee and, for commuting individuals, mobility costs. We consider a two-city setting, and we compare a scenario with only one university with another one with one university for each city. We show that in the two-university system, there exists a symmetric Nash Equilibrium for every mobility cost and (at least) two asymmetric Nash Equilibria only for sufficiently low mobility costs. In the latter scenario, we are able to characterise the existence of two equilibria for extremely high and extremely low tuition fees. In the former, both universities exhibit the same average ability that is in turn lower than the one arising in a monopolistic system. In the asymmetric scenario, the “top” (“bottom”) university instead has a higher (lower) peer group than the monopolistic one, regardless of the tuition fees. We further show that the introduction of a new university is always welfare improving. |
| Keywords: | Peer Group, Mobility Cost, Tuition Fees |
| JEL: | L3 I2 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:cns:cnscwp:201506&r=ure |
| By: | Atila YILDIRIM (Necmettin Erbakan Üniversity Ahmet Kele); Ali ÜNAL (Necmettin Erbakan Üniversity Ahmet Kele); Abdullah SÜRÜCÜ (Necmettin Erbakan Üniversity Ahmet Kele) |
| Abstract: | Teacher is the most important factor in making education/instruction activities to reach their purpose and having expected changes in students’ behaviors. Teacher behaviors are seen to be important in the definitions of effective teachers who try to make their students effectively and efficiently make their students reach the goals. Similar effective teacher behaviors have been determined in many researches. The common point of these researches is that their self-confidence and success mainly depend on behaviors with respect to helping their students. When effective teacher behaviors are examined, behaviors of establishing warm and sincere relationships with the students and showing close interest in students mainly gain importance. The purpose of this research is to determine effective teacher behaviors based on the opinions of the teacher candidates. A teacher should know what effective teacher behaviors are and try to apply these behaviors in the best manner. It is supposed that research results will be useful in gaining teacher behaviors in teacher raising programs and making teachers at school to become aware in terms of effective teacher behaviors, and use these behaviors in using the learning-teaching process.The research is in the qualitative research model. The study group of the research consists of 132 teacher candidates who receive teaching training at Necmettin Erbakan University Ahmet Kele |
| Keywords: | : Effective teacher behavior, teacher candidate, classroom management |
| JEL: | A20 A20 |
| URL: | http://d.repec.org/n?u=RePEc:sek:itepro:2404073&r=ure |
| By: | Klabunde, Anna |
| Abstract: | In this paper an agent-based model of endogenously evolving migrant networks is developed to identify the determinants of migration and return decisions. Individuals are connected by links, the strength of which declines over time and distance. Methodologically, this paper combines parameterization using data from the Mexican Migration Project with calibration. It is shown that expected earnings, an idiosyncratic home bias, network ties to other migrants, strength of links to the home country and age have a significant impact on circular migration patterns. The model can reproduce spatial patterns of migration as well as the distribution of number of trips of migrants. It is shown how it can also be used for computational experiments and policy analysis. |
| Abstract: | In dieser Studie wird ein agentenbasiertes Modell zum Migrationskreislauf mexikanischer Migranten in die USA eingeführt. Es handelt sich um ein vollständig empirisch fundiertes Modell, d.h. alle Parameter basieren auf empirischen Schätzungen. Insbesondere wurden die Koeffizienten der Verhaltensregeln der Individuen mit geläufigen ökonometrischen Methoden geschätzt. Hierbei wurde das Mexican Migration Project (MMP) verwendet, ein großer Haushaltsdatensatz. In einem ersten Schritt wird gezeigt, dass erwartetes Einkommen, eine idiosynkratische Heimatpräferenz und Netzwerkbeziehungen zu anderen Migranten die wichtigsten Determinanten der Migrationsentscheidung von Angehörigen einer Generation mexikanischer Migranten sind. Die Anzahl und Stärke der Beziehungen in das Heimatland beeinflusst hingegen die Rückkehrentscheidung. Es wird zudem gezeigt, dass die Verteilung der Migranten über die Städte der USA hinweg einer Power-Law-Verteilung folgt. Dies wird erklärt durch einen Preferential-Attachment'-Prozess, in dem Migranten häufig die Städte als Zielort wählen, in denen sie Bekannte und Verwandte haben. Die Verteilung der Anzahl der Migrationsbewegungen ist negativ binomialverteilt, was dadurch zu erklären ist, dass es viel wahrscheinlicher ist, dass Migranten nach der ersten Migrationsbewegung eine weitere Migrationsbewegung durchführen, als dass sie das erste Mal migrieren. Der Grund hierfür ist, dass sich die Entscheidung, zum zweiten Mal zu migrieren, stark von der unterscheidet, zum ersten Mal auszuwandern, weil migrationsspezifische Erfahrungen die Entscheidung erleichtern. Das agentenbasierte Modell ist in der Lage, beide Verteilungen und zwei aggregierte Zeitreihen nachzubilden. Daher wird es für geeignet befunden, Politikanalysen durchzuführen. Es wird gezeigt, wie mit Hilfe des Modells der Effekt einer Erhöhung der mexikanischen Löhne und einer Intensivierung der Grenzkontrollen untersucht werden kann. |
| Keywords: | circular migration,social networks,agent-based computational economics |
| JEL: | C63 F22 J61 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:471&r=ure |
| By: | Schaffner, Sandra; Treude, Barbara |
| Abstract: | Since ethnic clustering is common in Germany, a better understanding of its effects on the integration of immigrants could be important for integration policies, especially in the light of rising immigration and a skilled worker shortage. Yet, both economic theory and empirical research for other countries cannot give a clear-cut answer to whether clustering is benefi cial or detrimental for immigrants' integration. In this paper, the effect of residential clustering on the labour market outcome of first-generation immigrants in Germany is analysed empirically. It, thus, contributes to the literature by extending it to Germany on which hardly any research has been conducted. For the analysis, two measures for labour market integration are used: the employment probability and wage levels. In order to control for the endogeneity of the location decision, a two-step strategy is used, combining a control function and an instrumental variable (IV) approach. The results suggest a negative enclave effect on both employment and wages, that is even larger when sorting is taken into account. |
| Abstract: | Im Zuge stärkerer Einwanderung nach Deutschland und drohendem Fachkräftemangel ist die Integration von Immigranten von großer Bedeutung. Hier lässt sich häufig beobachten, dass Migranten gleicher oder ähnlicher Herkunft gemeinsam in der gleichen Nachbarschaft wohnen. Sowohl die ökonomische Theorie als auch andere empirische Arbeiten geben keinen eindeutigen Hinweis darauf, ob diese ethnische Segregation förderlich oder hinderlich für die Integration von Migranten ist. Insbesondere für Deutschland existiert bisher kaum Evidenz zu dieser Fragestellung. In diesem Papier wird der Effekt ethnischer Segregation auf den Arbeitsmarkterfolg von Migranten analysiert. Dabei wird der Arbeitsmarkterfolg als Erwerbsbeteiligung zum einen und als Lohnniveau zum anderen definiert. Um für mögliche Endogenität der Wohnortwahl zu kontrollieren, wird eine zweistufige Vorgehensweise aus einer Kontrollfunktion und einem Instrumentvariablenansatz gewählt. Die Ergebnisse zeigen, dass es einen negativen Effekt der ethnischen Segregation sowohl auf die Erwerbsbeteiligung als auch das Lohnniveau gibt. Dieser Effekt ist sogar größer, wenn für die Endogenität der Wohnortwahl kontrolliert wird. |
| Keywords: | ethnic enclaves,residential clustering,labour market integration,migrants,wage differentials |
| JEL: | J61 J64 J31 R23 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:536&r=ure |
| By: | Fumi Kitagawa (University of Edinburgh); Don J. Webber (University of the West of England, Bristol); Anthony Plumridge (University of the West of England, Bristol); Susan Robertson (University of Bristol) |
| Abstract: | The recognition of a strong association between education and economic prosperity has enthused higher education institutions (HEIs) to amplify their initiatives to stimulate entrepreneurship within their local economies and beyond. However, the actual processes and impacts made through entrepreneurship education, and the extent to which and the conditions with which different types of programmes are effective, are not understood well. This article fills part of this gap by adopting the concept of university-based entrepreneurship ecosystems and contributes to the understanding of different impacts of entrepreneurship education and their implications for city-region development. Student-level data are gathered across two HEIs within one city-region in England, which include demographic backgrounds, university experiences and motivations and propensities to start-up businesses. Our analysis reveals that students who believe their university education has helped them develop competencies to address challenges of becoming an entrepreneur were 78 percent more likely to have experienced an increase in their stated preference to start-up a business. This suggests that HEIs should be more actively engaged in stimulating student entrepreneurial behaviour and developing university-based entrepreneurial ecosystems that may lead to greater city-region economic development. |
| Keywords: | Business start-up; Entrepreneurial propensity; Student motivations |
| JEL: | L26 R58 |
| Date: | 2015–01–05 |
| URL: | http://d.repec.org/n?u=RePEc:uwe:wpaper:20151505&r=ure |
| By: | Sebastian Leitner (The Vienna Institute for International Economic Studies, wiiw) |
| Abstract: | This paper analyses the relationships between various measures of income inequality and variables describing population health and social outcomes at the regional level in the EU. Differences between the Central and East European new EU Member States (NMS) and non-NMS EU countries are highlighted. By applying fixed and random effects and cross-region regressions, we found negative relationships between income inequality and life expectancy, infant mortality, standardised death rates on various causes, rates of violent and property crime, rates of non-activity and early leave from education of young persons. The results indicate that redistributive policies might be an effective measure to reduce social harm and improve population health. |
| Keywords: | income inequality, population health, social phenomena, distribution, European Union, Central and Eastern Europe, regional analysis |
| JEL: | D31 I30 |
| Date: | 2015–05 |
| URL: | http://d.repec.org/n?u=RePEc:wii:wpaper:113&r=ure |
| By: | Lipatov, Vilen; Weichenrieder, Alfons J. |
| Abstract: | In the EU there are longstanding and ongoing pressures towards a tax that is levied on the EU level to substitute for national contributions. We discuss conditions under which such a transition can make sense, starting from what we call a "decentralization theorem of taxation" that is analogous to Oates (1972) famous result that in the absence of spill-over effects and economies of scale decentralized public good provision weakly dominates central provision. We then drop assumptions that turn out to be unnecessary for this results. While spill-over effects of taxation may call for central rules for taxation, as long as spill-over effects do not depend on the intra-regional distribution of the tax burden, decentralized taxation plus tax coordination is found superior to a union-wide tax. |
| Keywords: | fiscal federalism,taxing rights,decentralization theorem |
| JEL: | H21 H77 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:safewp:105&r=ure |
| By: | Daniel Felix Ahelegbey (Department of Economics, University of Venice Cà Foscari) |
| Abstract: | Recent advances in empirical finance has seen a growing interest in the application of network models to analyse contagion, spillover effects and risk propagation channels in the system. While interconnectivity among financial institutions have been widely studied, only a few papers review networks in finance and they do not focus on the econometrics aspects. This paper surveys the state of the arts for statistical inference and application of networks from a multidisciplinary perspective, and specifically in the context of systemic risk. We contribute to the literature on network econometrics by relating network models to multivariate analysis with potential applications in econometrics and finance. |
| Keywords: | Bayesian inference, Graphical models, Model selection, Systemic risk. |
| JEL: | C11 C15 C52 G01 G17 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:ven:wpaper:2015:13&r=ure |
| By: | Fulda, Barbara |
| Abstract: | How can we understand subnational differences in fertility rates? The most common explanations see the key to these differences in the socio-structural composition of a region's population and its structural conditions. However, such explanations fail to account for fertility rate differences in regions with similar populations and structures. This paper analyzes two social milieus in southern Germany and argues that variations in their fertility rates can only be understood through their cultural differences. Family extension patterns as well as opportunity structures (such as the availability of childcare facilities) are substantially influenced by the regionally differing cultural norms formed and held by social milieu members. To better explain differences in fertility rates and to understand the regionally differing effects of family policy measures, demographic research therefore needs to include culture in its understanding of demographic behavior. |
| Abstract: | Warum unterscheiden sich regionale Geburtenraten in Deutschland? Die Forschung begründet die großen Unterschiede mit der soziostrukturellen Zusammensetzung der Bevölkerung und den strukturellen Bedingungen einer Region. Unterschiede der Fertilitätsraten zwischen Regionen, deren Bevölkerung und Struktur sich ähneln, können hierdurch jedoch nicht erklärt werden. Die Analyse zweier sozialer Milieus in Süddeutschland zeigt, dass kulturelle Unterschiede ein weiterer wichtiger Erklärungsfaktor sind. Erstens werden strukturelle Gegebenheiten (zum Beispiel Angebote der Kinderbetreuung und das Vereinsleben) durch die Angehörigen eines sozialen Milieus als Träger regionaler sozialer Normen ausgestaltet, was Auswirkungen auf die Lebensbedingungen von Familien hat. Zweitens werden Milieumitglieder durch diese kulturelle Normen in ihrem Familienerweiterungsverhalten beeinflusst. Um regional unterschiedliche Auswirkungen familienpolitischer Maßnahmen auf Fertilitätsraten zu verstehen, sollte zukünftige demografische Forschung kulturelle Unterschiede berücksichtigen. |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:mpifgd:154&r=ure |
| By: | Hentschker, Corinna; Schmid, Andreas; Mennicken, Roman |
| Abstract: | The correct definition of the product market and of the geographic market is a prerequisite for assessing market structures in antitrust cases. For hospital markets, both dimensions are controversially discussed in the literature. Using data for the German hospital market we aim at elaborating the need for differentiating the product market and at investigating the effects of different thresholds for the delineation of the geographic market based on patient flows. Thereby we contribute to the scarce empirical evidence on the structure of the German hospital market. We find that the German hospital sector is highly concentrated, confirming the results of a singular prior study. Furthermore, using a very general product market definition such as 'acute in-patient care' averages out severe discrepancies that become visible when concentration is considered on the level of individual diagnoses. In contrast, varying thresholds for the definition of the geographic market has only impact on the level of concentration, while the correlation remains high. Our results underline the need for more empirical research concerning the definition of the product market for hospital services. |
| Keywords: | hospital market,concentration,product market,geographic market,Germany |
| JEL: | L11 I11 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:469&r=ure |
| By: | Calero, Carla; Gonzales, Veronica; Soares, Yuri; Kluve, Jochen; Corseuil, Carlos Henrique |
| Abstract: | This paper provides findings of a small-scale, innovative labor training program that uses expressive arts and theatre as a pedagogical tool. The corresponding life skills training component is combined with a technical component teaching vocational skills. To our knowledge, this is the first paper to rigorously evaluate the effectiveness of a training program constructed around expressive arts. Using a randomized assignment of favela youth into program and control groups, we look at the short-run treatment effects on a comprehensive set of outcomes including employment and earnings as well as measures of personality traits and risk behavior. We find positive short-run employment and earnings impacts five months after the program finalized; no impacts are found for shorter periods. These short-run impacts are economically very large, compared to those typically found in the literature: a 33.3 per cent increase in the probability of being employed, and a 23.6 per cent increase in earnings. We find no evidence of significant program impacts on other outcomes, including personality-related traits, providing evidence that these traits may not be malleable for young adults in the short-run. We argue that the estimated labor market impacts are due to a combination of both skills formation and signaling of higher quality workers to employers. |
| Keywords: | labor market training,youths,randomized controlled trial,life skills |
| JEL: | J24 J68 I38 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:486&r=ure |
| By: | Daniel Bergstresser (Brandeis University); Randolph Cohen (Massachusetts Institute of Technology) |
| Abstract: | The period since 1989 has seen significant changes in the structure of household ownership of municipal debt, with ownership becoming concentrated in a smaller number of households over time. The share of households holding any municipal debt fell from 4.6 percent to 2.4 percent between 1989 and 2013. The share of total debt that is held by the wealthiest 0.5 percent of households rose from 24 percent to 42 percent over the same period. These changes have coincided with the growth of tax-deferred retirement investment accounts such as 401(k) plans as a primary location of household investing. Municipal bonds, which pay tax-exempt interest, are almost never held inside of these tax-deferred accounts. These changing patterns of ownership have implications for the political economy of the municipal bond market. |
| Keywords: | Municipal bonds |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:brd:wpaper:87&r=ure |