|
on Urban and Real Estate Economics |
| By: | Marco Baudino (Université Côte d'Azur, France; GREDEG CNRS) |
| Abstract: | This paper relies upon some of the assumptions of the classical Alonso-Muth-Mills model in order to construct a spatial framework of rural-to-urban migration; specifically, it develops a spatial framework of migration where rural workers are uniformly distributed throughout a rural area, which it develops around a monocentric nuclear urban area. The spatial interactions between the rural and the urban areas are modeled via the two spatial variables of the rural rents and productivity spillover, whose effects of propagation from the urban to the rural area depend on the distance of the rural area from the urban area. From the model, it emerges how the rural rents affect the final levels of congestion in both the two areas, so that the urbanization level of the market solution can be inferior or superior with respect to the urbanization level set by the city planner. On the other hand, the inclusion of spatial variables does not seem to produce scenarios for urban growth which significantly differ from the ones detected in previous studies. Ultimately, these findings suggest the need for a city planner to design policies affecting the level of rural rents in order to modify the desired level of rural-to-urban migration, and hence the desired trade-off between urban growth and congestion. |
| Keywords: | Alonso-Muth-Mills model, Spatial analysis, Migration |
| JEL: | R12 R23 O43 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:gre:wpaper:2019-12&r=all |
| By: | Carlino, Gerald A. (Federal Reserve Bank of Philadelphia); Salz, Albert (Massachusetts Institute of Technology) |
| Abstract: | Modern urban economic theory and policymakers are coming to see the provision of consumer-leisure amenities as a way to attract population, especially the highly skilled and their employers. However, past studies have arguably only provided indirect evidence of the importance of leisure amenities for urban development. In this paper, we propose and validate the number of tourist trips and the number of crowdsourced picturesque locations as measures of consumer revealed preferences for local lifestyle amenities. Urban population growth in the 1990-2010 period was about 10 percentage points (about one standard deviation) higher in a metro area that was perceived as twice more picturesque. This measure ties with low taxes as the most important predictor of urban population growth. “Beautiful cities” disproportionally attracted highly educated individuals and experienced faster housing price appreciation, especially in supply-inelastic markets. In contrast to the generally declining trend of the American central city, neighborhoods that were close to central recreational districts have experienced economic growth, albeit at the cost of minority displacement |
| Keywords: | Internal migration; amenities; urban population growth |
| JEL: | J11 J61 R23 |
| Date: | 2019–03–12 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedpwp:19-16&r=all |
| By: | Coll Martínez, Eva; Méndez Ortega, Carles, |
| Abstract: | The present paper investigates the location patterns and the effects co-working spaces (CWS) generate on the urban context. The focus is on Barcelona, one of the most important creative hubs in Europe in terms of knowledge-based, creative, digital, and sharing economy, and the city hosting the largest number of co-working spaces in Spain. The paper addresses three main questions: 1) Which are the location patterns of co-working spaces in Barcelona? 2) Do CWS agglomerate in the same areas? And, 3) Do CWS coagglomerate with specific firm activities? To do that, this paper uses open data on Barcelona neighbourhoods’ socioeconomic composition provided by the Statistics Department of the Council of Barcelona and micro-geographic data of private CWS and creative labs in Barcelona. By using Geographical Information Systems (GIS) and Kd functions of agglomeration and coagglomeration, results show that CWS are highly concentrated in central areas of Barcelona where there are greater chances to meet customers and suppliers, the proximity to urban amenities and the fact of being associated to an specific place-image. Moreover, they coagglomerate with specific kinds of firms and to those most related to creative industries. These results are relevant when assessing what it should be the actual goal of urban policies in Barcelona. Keywords: co-working spaces, distance-based methods, agglomeration, coagglomeration, Barcelona. JEL: R00, R39, Z00 |
| Keywords: | Localització industrial, Barcelona, 332 - Economia regional i territorial. Economia del sòl i de la vivenda, |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:urv:wpaper:2072/351588&r=all |
| By: | Trent Saunders (Reserve Bank of Australia); Peter Tulip (Reserve Bank of Australia) |
| Abstract: | We build an empirical model of the Australian housing market that quantifies interrelationships between construction, vacancies, rents and prices. We find that low interest rates (partly reflecting lower world long-term rates) explain much of the rapid growth in housing prices and construction over the past few years. Another demand factor, high immigration, also helps explain the tight housing market and rapid growth in rents in the late 2000s. A large part of the effect of interest rates on dwelling investment, and hence GDP, works through housing prices. |
| Keywords: | housing; construction; house prices; vacancies; rents |
| JEL: | E17 R30 R31 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:rba:rbardp:rdp2019-01&r=all |
| By: | Ethan J. Schmick; Allison Shertzer |
| Abstract: | Cities in the United States dramatically expanded spending on public education in the years following World War I, with the average urban school district increasing per pupil expenditures by over 70 percent between 1916 and 1924. We provide the first evaluation of these historically unprecedented investments in public education by compiling a new dataset that links individuals to both the quality of the city school district they attended as a child and their adult outcomes. Using plausibly exogenous growth in school spending generated by anti-German sentiment, we find that school resources significantly increased educational attainment and wages later in life, particularly for the children of unskilled workers. Increases in expenditures can explain about 50 percent of the sizable increase in educational attainment of cohorts born between 1895 and 1915. However, increased spending did not close the gap in educational attainment between the children of skilled and unskilled workers, which remained constant over the period |
| JEL: | H72 N32 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:25663&r=all |
| By: | Cilliers, Jacobus (Georgetown University); Mbiti, Isaac M. (University of Virginia); Zeitlin, Andrew (Georgetown University) |
| Abstract: | In 2013, Tanzania introduced "Big Results Now in Education", a low-stakes accountability program that published both nationwide and within-district school rankings. Using data from the universe of school performance from 2011-2016, we identify the impacts of the reform using a difference-in-differences estimator that exploits the differential pressure exerted on schools at the top and bottom of their respective district rankings. We find that BRN improved learning outcomes for schools in the bottom two deciles of their districts. However, the program also led schools to strategically exclude students from the terminal year of primary school. |
| Keywords: | school accountability, school rankings, education policy in developing countries, Tanzania |
| JEL: | I21 I25 I28 O15 |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp12172&r=all |
| By: | Díaz Serrano, Lluís; Meix Llop, Enric |
| Abstract: | In this paper, we study the impact of fiscal and political decentralization on the quality of public service delivery. While the effect of fiscal decentralization on public services is a recursive theme, to the best of our knowledge, our study is the first to investigate the impact of political decentralization. We use educational data as a proxy for the quality of public services. We use microdata from the PISA test scores from 22 countries and test for the impact of fiscal and political decentralization on students’ performance. We use not only general measures of decentralization but, for the first time, also educationspecific decentralization measures. Our results indicate that the impact of fiscal decentralization on school outcomes is positive. However, the results regarding political decentralization are more ambiguous. We also observe that the scalar effect of both political and economic decentralization becomes more evident in large cities. Keywords: Public services, School outcomes, PISA, fiscal decentralization, political decentralization |
| Keywords: | Serveis públics, Finances autonòmiques, Descentralització administrativa, Rendiment escolar, 33 - Economia, 37 - Educació. Ensenyament. Formació. Temps lliure, |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:urv:wpaper:2072/351581&r=all |
| By: | OECD |
| Abstract: | The rural education landscape once consisted of one-room schools where a single teacher educated, took care of and supervised students of diverse ages. While multi-grade teaching is still common in many schools, particularly in primary education, increased government spending, better transport networks and higher social expectations have given way, in many instances, to larger schools with several classrooms, teachers and grades, and a greater variety of learning opportunities. Have these changes attenuated the traditional rural-urban gap in academic performance? Are students in rural schools still less likely to go into higher education than students in urban schools? And what makes rural schools different from urban schools more generally? |
| Date: | 2019–03–12 |
| URL: | http://d.repec.org/n?u=RePEc:oec:eduddd:94-en&r=all |
| By: | Itamar Drechsler; Alexi Savov; Philipp Schnabl |
| Abstract: | Between 2003 and 2006, the Federal Reserve raised rates by 4.25%. Yet it was precisely during this period that the housing boom accelerated, fueled by rapid growth in mortgage lending. There is deep disagreement about how, or even if, monetary policy impacted the boom. Using heterogeneity in banks' exposures to the deposits channel of monetary policy, we show that Fed tightening induced a large reduction in banks' deposit funding, leading them to contract new on-balance-sheet lending for home purchases by 26%. However, an unprecedented expansion in privately-securitized loans, led by nonbanks, largely offset this contraction. Since privately-securitized loans are neither GSE-insured nor deposit-funded, they are run-prone, which made the mortgage market fragile. Consistent with our theory, the re-emergence of privately-securitized mortgages has closely tracked the recent increase in rates. |
| JEL: | E43 E52 G21 G23 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:25649&r=all |
| By: | Neda Forghani-Arani (University of Vienna); Lucie Cerna (OECD); Meredith Bannon (Pennsylvania State University) |
| Abstract: | Recent migration patterns have brought major change to the experience of schooling for students, parents and teachers. This paper focuses on teachers, and explores their roles, functions and challenges in classrooms with diverse student populations. It examines initial and in-service teacher education and professional development programmes and approaches that can foster the teacher competencies called for in school settings characterised by migration-induced diversity, and offers policy pointers. The paper argues that in order to fulfil the growing expectations teachers face, they need to be equipped with relevant knowledge, capabilities, dispositions, values and skills, such as knowledge and understanding of diversity issues, reflectivity about identities, perspectives and practices, teacher agency and autonomy, empathy, and pedagogical judgement and tact. The paper suggests that responsive teacher education should integrate diversity into the curriculum, approach diversity as an asset, link theory and practice, create spaces for action, reflection, study and anticipation in handling diversity, and incorporate relevant technologies for innovative teaching. |
| Date: | 2019–03–14 |
| URL: | http://d.repec.org/n?u=RePEc:oec:eduaab:198-en&r=all |
| By: | Jorge Diaz-Lanchas (European Commission - JRC); Carlos Llano (Universidad Autónoma de Madrid and Lawrence R. Klein Institute); José Luis Zofio (Universidad Autónoma de Madrid and Erasmus Research Institute of Management) |
| Abstract: | Empirical evidence is lagging behind in explaining trade agglomerations in short distances. Departing from a novel micro-database on road freight shipments within Spain for the period 2003-2007, we decompose cities (municipal) trade flows into the extensive and intensive margins to assess trade frictions and trade concentration by way of a unique generalized transport cost measure and three internal borders, NUTS-5 (municipal), NUTS-3 (provincial) and NUTS-2 (regional). We discover a stark accumulation of trade flows up to a transport cost value of e189 (170km approx.) and conclude that this high density is not explained by the existence of administrative borders effects but to significant changes in the trade-to-transport costs relationship. To support this hypothesis, we propose and adopt an endogenous Chow test to identify significant thresholds at which trade flows change structurally with distance. These breakpoints allow us to split the sample when controlling for internal borders, and define trade market areas corresponding to specific transport costs values that consistently portrait an urban hierarchical system of cities, thereby providing clear evidence of the predictions made by the central place theory. |
| Keywords: | rhomolo, region, growth, municipal freight flows, generalized transport costs, breakpoints, market areas, urban hierarchy, central place theory |
| JEL: | F14 F15 O18 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:termod:201902&r=all |
| By: | Díaz Serrano, Lluís; Nilsson, William, |
| Abstract: | A small number of studies have examined the impact of local labor market conditions (unemployment) on school dropout rates. However, none of them have considered the role of the employment structure (skilled vs. non-skilled). In Spain, there exist a high degree of regional heterogeneity in both the type of employment and the school dropout behavior. In this paper we stablish a link between these two phenomena. We construct data for a panel of Spanish regions and identify the effect of local labor (regional) markets using the variation in the share of employment by industry and gender across regions and over time. In contrast with the previous literature, we use a model with regional fixed effects and regionspecific slopes, which allows us to control for not only for time-constant, but also for time-varying unobserved heterogeneity across regions. We show that, respect to models than only include the commonly used region fixed-effects, estimated effects of the employment variables vary substantially if we also include regionspecific slopes. We find a sizable impact of the employment structure and observe that, in markets with a larger share of low-skill employment, the school dropout rate is significantly larger, though the industries affecting boys and girls are different. Our results suggest that the supply of skilled employment in the economy may allow an important share of school dropouts to be kept in school. |
| Keywords: | Mercat de treball, Competències professionals, Abandó dels estudis (Educació secundària), Espanya, 331 - Treball. Relacions laborals. Ocupació. Organització del treball, 37 - Educació. Ensenyament. Formació. Temps lliure, |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:urv:wpaper:2072/351583&r=all |
| By: | Giuliano Masiero (Department of Management, Information and Production Engineering, University of Bergamo, Italy; Institute of Economics (IdEP), Università della Svizzera italiana, Switzerland); Michael Santarossa (Department of Economics and Management, University of Pavia, Italy) |
| Abstract: | We analyze the response of municipalities to the occurrence of natural disasters (earthquakes) in Italy, in terms of spending behavior, use of upper tier transfers and recovery. We find evidence of increasing expenditure for about 12 years after the shock, with asymmetric responses between matching (earthquake-related) and unconditional grants, and heterogeneous flypaper effects across the country. While in Northern municipalities expenditure tends to regress to pre-treatment levels, i.e., before the earthquake occurrence, Southern municipalities react to the drop of grants showing inertia in expenditure levels. This evidence is coupled with a faster recovery of private income and housing prices in Northern municipalities. Our analysis exploits balance sheet data of about 8000 municipalities for the period 2000-2015 and encompasses the universe of earthquake events defined using alternative intensity measures. We apply a matching approach to disentangle earthquake-related grants (mostly matching grants) from other grants, and to define a control group of non-treated municipalities. The spatial and temporal variation in expenditure and transfers between treated and not-treated governments are then examined using panel data models on the universe of municipalities as well as on a matching sample of municipalities. |
| Keywords: | Natural disasters, Local expenditure, Intergovernmental transfers, Matching grants, Flypaper effect, Economic growth |
| JEL: | H52 H72 R50 |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:lug:wpidep:1901&r=all |
| By: | Ahelegbey, Daniel Felix; Giudici, Paolo; Hadji-Misheva, Branka |
| Abstract: | This paper investigates how to improve statistical-based credit scoring of SMEs involved in P2P lending. The methodology discussed in the paper is a factor network-based segmentation for credit score modeling. The approach first constructs a network of SMEs where links emerge from comovement of latent factors, which allows us to segment the heterogeneous population into clusters. We then build a credit score model for each cluster via lasso logistic regression. We compare our approach with the conventional logistic model by analyzing the credit score of over 15000 SMEs engaged in P2P lending services across Europe. The result reveals that credit risk modeling using our network-based segmentation achieves higher predictive performance than the conventional model. |
| Keywords: | Credit Risk, Factor models, Fintech, Peer-to-Peer lending, Credit Scoring, Lasso, Segmentation |
| JEL: | C38 G2 |
| Date: | 2019–02–26 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:92633&r=all |
| By: | Henley, Andrew (Cardiff University) |
| Abstract: | Only a minority of micro-businesses create jobs for others. This paper addresses whether personal characteristics and resources of the microbusiness owner or the local external economic environment are drivers of job creation. In the UK context of significant growth in self-employment but a declining proportion who create jobs, an investigation using longitudinal data is provided. Individual demographic and resource characteristics are found to be more important, but place effects are relatively weak. Entrepreneurship policy needs to target particular groups, including women and less experienced business owners in their localities. |
| Keywords: | self-employment, micro-business, job creation, local environment, longitudinal analysis |
| JEL: | J23 L26 M13 R12 |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp12189&r=all |
| By: | Janna Bergsvik (Statistics Norway) |
| Abstract: | The aim of this paper is to gain more insight on the drivers behind geographical variations in family sizes by pointing out the role of neighborhoods and neighbors for two-child couples’ transitions to third births. Couples’ decisions about fertility behavior are influenced by their social context where immediate neighborhoods and neighbors may play a significant role. Furthermore, as neighborhoods are important contexts of childrearing, couples may sort geographically based on their fertility preferences. Using detailed geo-data from Norwegian administrative registers to locate couples in flexible ego-centered neighborhoods, this paper introduces a new dimension of spatial fertility variations. Results from regression models show that the family size of neighbors is positively related to each other. That is, the likelihood that two-child couples have a third child increases with the share of families with three or more children in the neighborhood. This relationship remains significant also after controlling for a range of couple characteristics, housing, neighboring women’s educational level and time-constant characteristics of neighborhoods. It is also consistent for various neighborhood definitions which in this study range from the 12 to the 500 nearest neighbors. However, the strength of the association between neighbors’ fertility increases with the number of neighbors, providing evidence that residential sorting is a dominant driver. |
| Keywords: | spatial fertility; k-nearest neighbors; fertility diffusion; family size; third births |
| JEL: | J11 J12 J13 R20 R23 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:ssb:dispap:898&r=all |
| By: | Asrowi (Universitas Sebelas Maret, Ir. Sutami Street 36A, 57126, Surakarta, Indonesia Author-2-Name: Author-2-Workplace-Name: Author-3-Name: Author-3-Workplace-Name: Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:) |
| Abstract: | Objective - Junior high schools have realized the need for resilience to prevent and respond to bullying. Resilience can help students better respond to bullying. Enhancing this construct can support the efforts of schools to create a supportive and safe learning environment. Methodology/Technique - This research examines a regional sample of 404 Indonesian junior high school students located in Central Java between the ages of 13 and 15. The study explores the connection between experiences with bullying and resilience by examining whether resilient students seem to be significantly affected at school. Findings - The findings of the study indicate that resilience has the potential to prevent the instance of bullying. Students with high resilience were identified as being able to mitigate the effect of bullying in school. |
| Keywords: | Level; Bullying Experience; Gender; Age |
| JEL: | A20 A22 A29 |
| Date: | 2019–02–20 |
| URL: | http://d.repec.org/n?u=RePEc:gtr:gatrjs:gjbssr534&r=all |
| By: | Zheng Liu; Pengfei Wang; Tao Zha |
| Abstract: | Aggregate housing demand shocks are an important source of house price fluctuations in the standard macroeconomic models, and through the collateral channel, they drive macroeconomic fluctuations. These reduced-form shocks, however, fail to generate a highly volatile price-to-rent ratio that comoves with the house price observed in the data (the “price-rent puzzle”). We build a tractable heterogeneous-agent model that provides a microeconomic foundation for housing demand shocks. The model predicts that a credit supply shock can generate large comovements between the house price and the price-to-rent ratio. We provide empirical evidence from cross-country and cross-MSA data to support this theoretical prediction. |
| JEL: | E21 E44 G21 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:25667&r=all |
| By: | Jian-Xin Wu (College of Economics, Jinan University); Ling-Yun He (College of Economics, Jinan University and Nanjing University of Information Science and Technology); ZhongXiang Zhang (Tianjin University and China Academy of Energy, Environmental and Industrial Economics) |
| Abstract: | This paper examines the long-run relationship between income and urban air pollution using a joint distribution dynamics approach. This approach enables to estimate the transition process and long-run distribution and to examine the mechanisms behind the evolution process. The approach is applied to a unique panel data of CO2, SO2 and PM2.5 (particulate matter smaller than 2.5µm) for 286 Chinese cities over the period 2002-2014. Strong persistence in the transition dynamics suggests that this convergence process may require a long time. The distribution dynamics analyses indicate that multiple equilibria are the major characteristics in the long-run relationship between income and urban air pollution in China, which implies that inter-regional technology spillover may be an important way to accelerate convergence. Our results further support the existence of poverty-environmental trap in PM2.5 concentrations. Thus, new environmental models are expected to be developed to explain this new stylized fact. The findings provide strong support for taking more aggressive measures that consider income and urban environment simultaneously to reduce poverty and air pollutions together in the Chinese cities. |
| Keywords: | Income, Urban Air Pollution, Poverty-environment Trap, Distribution Dynamics Approach, China |
| JEL: | O13 O44 Q43 Q53 Q56 Q58 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:fem:femwpa:2019.05&r=all |
| By: | Valeria Bernardo; Xavier Fageda; Ricardo Flores-Fillol |
| Abstract: | The great weight that the car has as a means of mobility in large cities generates significant negative externalities both in terms of congestion and pollution. The goal of this paper is to examine, using a panel of large European urban areas over the period 2008-2016, the effectiveness of urban tolls and low emission zones in mitigating urban congestion. We conclude that urban tolls are successful in mitigating congestion. Instead, low emission zones are not effective. This is a very relevant result, given that such policy is being implemented extensively in Europe. |
| Date: | 2018–12 |
| URL: | http://d.repec.org/n?u=RePEc:fda:fdaddt:2018-14&r=all |
| By: | Patrizio Lecca (European Commission - JRC); Martin Christensen (European Commission - JRC); Andrea Conte (European Commission - JRC); Giovanni Mandras (European Commission - JRC); Simone Salotti (European Commission - JRC) |
| Abstract: | The paper illustrates the effect of a permanent demand-side shock in the perturbed regions and the associated spillover effects in the non-perturbed regions using the RHOMOLO spatial-numerical general equilibrium model of the EU economy. We test to what extent gradual upward pressure on wages generated by a domestic increase in demand alters the magnitude of the economic impacts in the long-run and the degree to which this could result in changes in trade patterns. We also assess the size and the direction of the effects with varying trade substitution elasticities and under both perfectly and imperfectly competitive product markets. |
| Keywords: | rhomolo, region, growth, regional development policies, Regional policy spillovers, spatial general equilibrium |
| JEL: | J31 R12 R23 R58 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:termod:201903&r=all |
| By: | Jonas, Michael (Techno-Science and Societal Transformation Research Group, Institute for Advanced Studies, Vienna, Austria); Segert, Astrid (Institute for Advanced Studies, Vienna, Austria) |
| Abstract: | In Vienna – as in other cities in Europe – vast quantities of electrical appliances, furniture, textiles, toys and other everyday items are thrown away each year even though they could frequently still have been used further. At the same time, there has been a clear rise in DIY activities, repair initiatives and repair workshops in the city, all of which can be subsumed under a repair and do it yourself urbanism label. Drawing on extensive empirical research, we identify and describe the corresponding developments in two districts in Vienna (Neubau and Ottakring). We then present a typology of repair and do it yourself urbanism phenomena and actors that offer deep insight into the current developments in this field at a local level. Our study reveals clear differences in the general parameters and ways in which repair and do it yourself urbanism has developed in these two districts. It also reveals that substantial support and facilitation will be needed to ensure that the current and future trends in repair and do it yourself urbanism can deliver a significant contribution towards the development of resilient urban districts. |
| Keywords: | DIY urbanism, repair, do it yourself, typology, city districts |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:ihs:ihswps:2&r=all |
| By: | Diewert, Erwin |
| Abstract: | This paper provides an update to the chapter on the treatment of durables in the Consumer Price Index Manual (2004). The most important durable is housing, which typically accounts for approximately 20% of total consumption services. A large fraction of total housing services consists of the services of Owner Occupied Housing (OOH). The main approaches to measuring the services of OOH are (i) the acquisitions approach; (ii) the rental equivalence approach and (iii) the user cost approach. Two other approaches are sometimes used: (iv) the opportunity cost approach and (v) the payments approach. A main purpose of this paper is to present the main approaches to the treatment of OOH and to discuss the benefits and costs of the alternative approaches. The paper also discusses the problems associated with forming imputations for the services of “ordinary†consumer durable goods. |
| Keywords: | Durable goods; Consumer Price Index; Owner Occupied Housing; hedonic regression models |
| JEL: | C23 C43 C81 D12 E31 |
| Date: | 2019–03–21 |
| URL: | http://d.repec.org/n?u=RePEc:ubc:pmicro:erwin_diewert-2019-5&r=all |
| By: | Kate Preston (Motu Economic and Public Policy Research); David C Maré (Motu Economic and Public Policy Research); Arthur Grimes (Motu Economic and Public Policy Research); Stuart Donovan (Vrije Universiteit) |
| Abstract: | We analyse which factors attract people and firms (and hence jobs) to different settlements across New Zealand. Using theoretically consistent measures derived within the urban economics literature, we compile quality of life and quality of business indicators for 130 ‘cities’ (settlements) from 1976 to 2013, using census rent and wage data. Our analyses both include and exclude the three largest cities (Auckland, Wellington, Christchurch). Places that are attractive to live in tend to be sunny, dry and near water (i.e. the sea or a lake). Since the mid-1990s, attractive places have also had relatively high shares of the workforce engaged in education and (to a lesser extent) health. Attractive places have high employment shares in the food, accommodation, arts and recreation service sectors; however (unlike for education and health) we find no evidence that quality of life is related to changes in employment share for these sectors. The quality of business is highest in larger cities, and this relationship is especially strong when the country’s three largest cities are included in the analysis. |
| Keywords: | Amenities; quality of life; quality of business; rents; wages; New Zealand; settlements |
| JEL: | R11 R12 R23 |
| Date: | 2018–05 |
| URL: | http://d.repec.org/n?u=RePEc:mtu:wpaper:18_14&r=all |
| By: | Aliprantis, Dionissi (Federal Reserve Bank of Cleveland); Fee, Kyle (Federal Reserve Bank of Cleveland); Schweitzer, Mark E. (Federal Reserve Bank of Cleveland) |
| Abstract: | This paper studies the relationship between local opioid prescription rates and labor market outcomes. We improve the joint measurement of labor market outcomes and prescription rates in the rural areas where nearly 30 percent of the US population lives. We find that increasing the local prescription rate by 10 percent decreases the prime-age employment rate by 0.50 percentage points for men and 0.17 percentage points for women. This effect is larger for white men with less than a BA (0.70 percentage points) and largest for minority men with less than a BA (1.01 percentage points). Geography is an obstacle to giving a causal interpretation to these results, especially since they were estimated in the midst of a large recession and recovery that generated considerable cross-sectional variation in local economic performance. We show that our results are not sensitive to most approaches to controlling for places experiencing either contemporaneous labor market shocks or persistently weak labor market conditions. We also present evidence on reverse causality, finding that a short-term unemployment shock did not increase the share of people abusing prescription opioids. Our estimates imply that prescription opioids can account for 44 percent of the realized national decrease in men's labor force participation between 2001 and 2015 |
| Keywords: | Opioid Prescription Rate; Labor Force Participation; Great Recession; Opioid Abuse; |
| JEL: | I10 J22 J28 R12 |
| Date: | 2019–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedcwq:180701&r=all |
| By: | Eric Nielsen |
| Abstract: | Standard achievement scales aggregate test questions without considering their relationship to economic outcomes. This paper uses question-level data to improve the measurement of achievement in two ways. First, the paper constructs alternative achievement scales by relating individual questions directly to school completion and labor market outcomes. Second, the paper leverages the question data to construct multiple such scales in order to correct for biases stemming from measurement error. These new achievement scales rank students differently than standard scales and typically yield achievement gaps by race, gender, and household income that are larger by 0.1 to 0.5 standard deviations. Differential performance on test questions can fully explain black-white differences in both wages and lifetime earnings and can explain roughly half of the difference in these outcomes between youth from high- versus low-income households. By contrast, test questions do not explain gender differences in labor market outcomes. |
| Keywords: | Human capital ; Inequality ; Achievement gaps ; Measurement error |
| JEL: | I24 C2 |
| Date: | 2019–03–04 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedgfe:2019-13&r=all |
| By: | Emmanuelle Lavaine (CEE-M - Centre d'Economie de l'Environnement - Montpellier - FRE2010 - INRA - Institut National de la Recherche Agronomique - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier); Henrik Anderson (TSE - Toulouse School of Economics - Toulouse School of Economics) |
| Abstract: | This paper examines the effect of properties being located in vulnerable zones interm of nitrates on the property prices using a change in the classification of vulnerablezones in France in 2012. Using an identification strategy based on a spatial difference-in-differences specification, we show that the revision of the classification significantlydecreased not only property prices in zones that became classified as vulnerable afterthe revision, but also those of properties already classified as vulnerable. However,the effect was stronger for the former, 10% vs. 5%, and this differences may reflect adifference in how zones are classified. The risks covered in the 2012 classification covera broader range of risks, and hence the larger price effect may reflect this additionalperceived risk exposure. |
| Keywords: | Hedonic Price Analysis,difference in difference |
| Date: | 2018–08–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02048555&r=all |
| By: | Minghao Li (Center for Agricultural and Rural Development (CARD)) |
| Abstract: | Starting from early seventies, court-ordered school finance reforms (SFRs) have fundamentally changed the landscape of primary and elementary education finance in the US. This paper employs SFRs as quasi-experiments to quantify the effects of education equity on intergenerational mobility within commuting zones. First, I use reduced form difference-in-difference analysis to show that 10 years of exposure to SFRs increases the average college attendance rate by about 5.2% for children with the lowest parent income. The effect of exposure to SFRs decreases with parent income and increases with the duration of exposure. Second, to directly model the causal pathways, I construct a measure for education inequity based on the association between school district education expenditure and median family income. Using exposure to SFRs as the instrumental variable, 2SLS analysis suggests that one standard deviation reduction in education inequality will cause the average college attendance rate to increase by 2.2% for children at the lower end of the parent income spectrum. Placing the magnitudes of these effects in context, I conclude that policies aimed at increasing education equity, such as SFRs, can substantially benefit poor children but they alone are not enough to overcome the high degree of existing inequalities. Key words: public education finance, intergenerational mobility, school finance reforms, quasi-experiments |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:ias:cpaper:19-wp589&r=all |
| By: | Feng, Shuaizhang (Shanghai University of Finance and Economics); Guo, Naijia (Chinese University of Hong Kong) |
| Abstract: | This paper studies the effect of state-owned enterprises on the dynamics of the Chinese urban labor market. Using longitudinal monthly panel data, we document very low dynamics in the labor market, especially in the state sector. We develop and calibrate an equilibrium search and matching model with three differences between the state and the non-state sector: labor productivity, labor adjustment cost, and workers' bargaining power. Counterfactual analysis shows that the lack of dynamics is mainly driven by the strong bargaining power of state-sector workers. Eliminating the differences between the two sectors substantially reduces the unemployment rate and long-term unemployment rate. |
| Keywords: | state sector, labor market dynamics, search and matching, China, long-term unemployment |
| JEL: | J64 J45 P23 |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp12170&r=all |
| By: | Martin Eckhoff Andresen; Sturla A. Løkken (Statistics Norway) |
| Abstract: | We exploit the assignment of exam form in a high-stakes Norwegian high school exam to estimate the impact of exam form on exam results, later school performance, graduation and longer run outcomes. Results indicate that written exams significantly reduce exam grades and reduce the probability of passing relative to the alternative oral exam, particularly for initially low-performing students. Because passing the exam is mandatory to obtain a high school diploma, this translates into reduced high school graduation rates that remain significant over time, permanently shifting a group of marginal students to drop out of high school entirely. IV estimates on labor market earnings are close to zero, but these results are too imprecise to draw firm conclusions. |
| Keywords: | Exam form; high school dropout; returns to education |
| JEL: | I21 J24 |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:ssb:dispap:894&r=all |
| By: | Mafini Dosso (European Commission - JRC); Lesley Potters (European Commission - JRC); Alexander Tübke (European Commission - JRC) |
| Abstract: | The Technology Readiness Levels (TRLs) approach is relevant to map the functional decomposition of companies' R&D value chains. TRLs matter for corporate location choices. Knowing what distinct types of R&D&I activities (or TRLs) stay, go and come back in EU territories – and why – is central for policies supporting local industrial and innovation ecosystems and clusters, and the identification and integration into strategic value chains. Fast-developing local strengths of Asian countries such as China, Japan and South Korea, in Automotive, and in Electronics and related fields are shaping companies' geographical decomposition of R&D&I activities. While the EU has strong value chains in e.g. automotive (network of combustion engine) and pharma (highly skilled labour force and strong research institutions), corporate R&D&I investments are finding their way to novel applications in emerging technologies in Asia. |
| Keywords: | R&D, Innovation; Industrial Innovation Policy; Global Value Chains; Technology Readiness Levels; Regional Innovation Policy |
| JEL: | O25 O30 R12 R58 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc115449&r=all |
| By: | Abrams, David; Galbiati, Roberto; Henry, Emeric; Philippe, Arnaud |
| Abstract: | In this paper, we show that sentencing norms vary widely even across geographically close units. By examining North Carolina's unique judicial rotation system, we show that judges arriving in a new court gradually converge to local sentencing norms. We document factors that facilitate this convergence and show that sentencing norms are predicted by preferences of the local constituents. We build on these empirical results to analyze theoretically the delegation trade-off faced by a social planner: the judge can learn the local norm, but only at the cost of potential capture. |
| Keywords: | delegation; Judicial Decision Making; Laws; norms |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:13587&r=all |
| By: | Jedidi, Helmi (HEC Montreal, Canada Research Chair in Risk Management); Dionne, Georges (HEC Montreal, Canada Research Chair in Risk Management) |
| Abstract: | Our main objective is to test for evidence of information asymmetry in the mortgage servicing market. Does the sale of mortgage servicing rights (MSR) by the initial lender to a second servicing institution unveil any residual asymmetric information? We analyze the originator’s selling choice of MSR using a large sample of U.S. mortgages that were privately securitized during the period of January 2000 to December 2013 (more than 5 million observations). Our econometric methodology is mainly non-parametric and the main test for the presence of information asymmetry is driven by kernel density estimation techniques (Su and Spindler, 2013). We also employ the non-parametric testing procedure of Chiappori and Salanié (2000). For robustness, we present parametric tests to corroborate our results after controlling for observable risk characteristics, for econometric misspecification error, and for endogeneity issues using instrumental variables. Our empirical results provide strong support for the presence of second-stage asymmetric information in the mortgage servicing market. |
| Keywords: | Mortgage servicing market; mortgage servicing right; information asymmetry test; MSR-purchaser; parametric model; non-parametric model; kernel estimation; instrumental variable. |
| JEL: | C14 C23 C26 G14 G21 G33 |
| Date: | 2019–03–12 |
| URL: | http://d.repec.org/n?u=RePEc:ris:crcrmw:2019_001&r=all |
| By: | Bertoli, Simone (CERDI, University of Auvergne); Stillman, Steven (Free University of Bozen/Bolzano) |
| Abstract: | Many destination countries consider implementing points-based migration systems as a way to improve migrants' quality, but our understanding of the actual effects of selective policies is limited. We use data from the ACS 2001-2017 to analyze the overlap in the wage distribution of low- and high-educated recent migrants from different origins after controlling for other observable characteristics. When we randomly match a high- with a low-educated immigrant from the same country, more than one-quarter of time the low-educated immigrant has a higher hourly wage, notwithstanding a statistically significant difference in the mean wage of the two groups for most origins. For 98 out of 114 countries, this synthetic measure of the overlap in the two wage distributions stands above the corresponding figure for natives. We also find that at least 82 percent of the variance in log wages for migrants with a given number of years of schooling is due to differences within rather than across countries. This suggests that heavily relying on education to select immigrants might fail to markedly improve their quality. |
| Keywords: | migration, selection, wages, point-system, United States |
| JEL: | F22 J24 |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp12168&r=all |
| By: | Canavire-Bacarreza, Gustavo; Díaz Serrano, Lluís; Corrales-Espinosa, Alejandro |
| Abstract: | This paper explores the relationship between public libraries and school achievement. Medellin counts on a system of public libraries. However, public library parks are part of a separate system. The library parks are understood as cultural centers for social development that seek to encourage the meeting of citizens and to develop educational activities that involve the digital culture. The project began in 2004 and was consolidated until 2011 with the introduction of 9 different library parks. Using an approach of differences-in-differences and matching techniques, we explore the effect of the library parks in Medellin on school performance. We found a significant effect on the performance of the language test in the students treated, especially in the long-term specification. Key Words: Public libraries, school achievement, impact evaluation, public investment. JEL Classification: C33, H54, H76, I2, I26. |
| Keywords: | Biblioteques públiques, Rendiment escolar, Inversions públiques, Colòmbia, 37 - Educació. Ensenyament. Formació. Temps lliure, |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:urv:wpaper:2072/351580&r=all |
| By: | Alfonso Echazarra (OECD); Thomas Radinger (OECD) |
| Abstract: | Based on a review of previous research, the paper describes the distinctive characteristics of rural areas and communities and the factors typically associated with shaping students’ learning experience in rural contexts. Data from the OECD Programme for International Student Assessment (PISA) 2015 and the Teaching and Learning International Survey (TALIS) 2013 are analysed to examine differences in learning outcomes and education expectations between rural and urban students and to assess the extent to which challenges and opportunities in the provision of rural education are commonplace across OECD member and partner countries. To our surprise, some of the perceived challenges of providing rural education, such as an inadequate infrastructure or a lack of quality teachers, are far from universal. Rural-urban gaps in academic performance generally disappear after accounting for socio-economic status and rural students are less likely to expect completing a university degree than city students, but this gap in expectations persists even when rural students have a similar socio economic status, on average across OECD countries. This highlights the importance of raising aspirations and creating opportunities for rural students. The paper concludes with ideas for policy and country experiences that governments may consider to ensure high quality learning for students in rural contexts. |
| Date: | 2019–03–12 |
| URL: | http://d.repec.org/n?u=RePEc:oec:eduaab:196-en&r=all |
| By: | Zachary S. Fone; Joseph J. Sabia; Resul Cesur |
| Abstract: | An April 2016 Council of Economic Advisers (CEA) report advocated raising the minimum wage to deter crime. This recommendation rests on the assumption that minimum wage hikes increase the returns to legitimate labor market work while generating minimal adverse employment effects. This study comprehensively assesses the impact of minimum wages on crime using data from the 1998-2016 Uniform Crime Reports (UCR), National Incident-Based Reporting System (NIBRS), and National Longitudinal Study of Youth (NLSY). Our results provide no evidence that minimum wage increases reduce crime. Instead, we find that raising the minimum wage increases property crime arrests among those ages 16-to-24, with an estimated elasticity of 0.2. This result is strongest in counties with over 100,000 residents and persists when we use longitudinal data to isolate workers for whom minimum wages bind. Our estimates suggest that a $15 Federal minimum wage could generate criminal externality costs of nearly $2.4 billion. |
| JEL: | J01 J3 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:25647&r=all |
| By: | Ahelegbey, Daniel Felix; Giudici, Paolo; Hadji-Misheva, Branka |
| Abstract: | Peer-to-Peer (P2P) fintech platforms allow cost reduction and service improvement in credit lending. However, these improvements may come at the price of a worse credit risk measurement, and this can hamper lenders and endanger the stability of a financial system. We approach the problem of credit risk for Peer-to-Peer (P2P) systems by presenting a latent factor-based classification technique to divide the population into major network communities in order to estimate a more efficient logistic model. Given a number of attributes that capture firm performances in a financial system, we adopt a latent position model which allow us to distinguish between communities of connected and not-connected firms based on the spatial position of the latent factors. We show through empirical illustration that incorporating the latent factor-based classification of firms is particularly suitable as it improves the predictive performance of P2P scoring models. |
| Keywords: | Credit Risk, Factor Models, Financial Technology, Peer-to-Peer, Scoring Models, Spatial Clustering |
| JEL: | C38 G10 G21 |
| Date: | 2018–07–04 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:92636&r=all |
| By: | Klyachko, Tatiana (Клячко, Татьяна) (The Russian Presidential Academy of National Economy and Public Administration); Avraamova, Elena (Авраамова, Елена) (The Russian Presidential Academy of National Economy and Public Administration); Loginov, Dmitriy (Логинов, Дмитрий) (The Russian Presidential Academy of National Economy and Public Administration); Polushkina, Elena (Полушкина, Елена) (The Russian Presidential Academy of National Economy and Public Administration); Semionova, Elena (Семенова, Елена) (The Russian Presidential Academy of National Economy and Public Administration); Tokareva, Galina (Токарева, Галина) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | Interregional monitoring of the effectiveness of the school is conducted by the Center for Continuing Education Economics of the Institute of Applied Economic Research of the Russian Presidential Academy of National Economy and Public Administration. Within the monitoring, a sociological survey of the parents of students, teachers and school principals of different types of settlements in the subjects of the Russian Federation, differentiated according to the criteria of social and economic development is carried out. This informational edition presents the results of the study, revealing the issues of accessibility and ensuring the conditions for pre-school education, family satisfaction with its quality, continuity of pre-school education and primary school. |
| Keywords: | monitoring, pre-school education, primary school, accessibility and quality |
| JEL: | I21 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:031913&r=all |
| By: | Elham Erfanian (Regional Research Institute, West Virginia University); Alan R. Collins (Division of Resource Economics and Management, West Virginia University) |
| Abstract: | According to the World Health Organization, 235 million people around the world currently suffer from asthma, which includes approximately 25 million in the United States. There is substantial epidemiological evidence indicating linkages between outdoor air pollution and asthma symptoms, more specifically between concentrations of particulate matter and asthma. Using county level data for 2001-2014, a spatial panel framework is imposed based upon prevailing wind patterns to investigate the direct and indirect impacts of PM2.5 concentration levels on asthma hospitalization in Pennsylvania. This model controls for population density, precipitation, smoking rate, and population demographic variables. Results show that PM2.5 concentrations as measured at the county level have positive direct and indirect effects on asthma hospitalization. A one-unit increase in PM2.5 in one Pennsylvania county will add, on average $1.29M ($754,656 direct and $539,040 indirect) to total annual asthma hospitalization costs with the state of Pennsylvania. This study highlights the need for realistic and accurate impact analyses of ambient air pollution on asthma that reflects the impacts on neighboring regions as well. In order to capture the spillover effects of health-related impacts from PM2.5 pollution, a wind direction algorithm to identify appropriate neighbors is important. |
| Keywords: | PM2.5 concentrations, Asthma, Spatial econometrics, Wind pattern weight matrix, Spillover effects |
| JEL: | Q53 I18 Q40 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:rri:wpaper:2019wp01&r=all |
| By: | Ginés de Rus; Per-Olov Johansson |
| Abstract: | The measurement of the economic effects of transport improvements is generally based on the rule of a half. Virtually all the projects have in common the reduction of the generalized cost of transport. The basic rule is derived from a simple indirect utility function, illustrating its use to measure changes in the main components of the generalized price of transport. The paper also addresses the issue of the indirect effects and the so-called wider economic benefits, and briefly discuss the content of these additional impacts with the aim of assessing the role of these impacts on the economic appraisal of transport projects. |
| Date: | 2019–01 |
| URL: | http://d.repec.org/n?u=RePEc:fda:fdaddt:2019-01&r=all |
| By: | Díaz Serrano, Lluís; Pérez Reynosa, Jessica Helen |
| Abstract: | Using panel data for non-OECD countries covering the period 1970-2012, this paper analyzes the impact of the duration of primary education on school enrollment in secondary education. The empirical results show that in those countries where the duration of primary education is increased, the enrollment rate in secondary education decreases, and the opposite is observed in those countries where the duration of primary education is reduced. These results are in line with the fertility model approach; that is, in developing and underdeveloped countries parents do not have incentive to pursue further education for their children given the high perceived present economic value of children. JEL Classification: I21, I25, I28 Keywords: primary education, secondary education, school enrollment, education policy, developing countries, school duration |
| Keywords: | Educació primària, Educació secundària, Política educativa, Països en vies de desenvolupament, 331 - Treball. Relacions laborals. Ocupació. Organització del treball, 37 - Educació. Ensenyament. Formació. Temps lliure, |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:urv:wpaper:2072/351582&r=all |
| By: | Clay, Karen (Carnegie Mellon University); Lewis, Joshua (University of Montreal); Severnini, Edson R. (Carnegie Mellon University) |
| Abstract: | Disparities in cross-city pandemic severity during the 1918 Influenza Pandemic remain poorly understood. This paper uses newly assembled historical data on annual mortality across 438 U.S. cities to explore the determinants of pandemic mortality. We assess the role of three broad factors: i) pre-pandemic population health and poverty, ii) air pollution, and iii) the timing of onset and proximity to military bases. Using regression analysis, we find that cities in the top tercile of the distribution of pre-pandemic infant mortality had 21 excess deaths per 10,000 residents in 1918 relative to cities in the bottom tercile. Similarly, cities in the top tercile of the distribution of proportion of illiterate residents had 21.3 excess deaths per 10,000 residents during the pandemic relative to cities in the bottom tercile. Cities in the top tercile of the distribution of coal-fired electricity generating capacity, an important source of urban air pollution, had 9.1 excess deaths per 10,000 residents in 1918 relative to cities in the bottom tercile. There was no statistically significant relationship between excess mortality and city proximity to World War I bases or the timing of onset. Together the three statistically significant factors accounted for 50 percent of cross-city variation in excess mortality in 1918. |
| Keywords: | influenza, pandemic, mortality, air pollution |
| JEL: | N32 N52 N72 Q40 Q53 O13 |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp12177&r=all |
| By: | Varshaver, Evgeniy (Варшавер, Евгений) (The Russian Presidential Academy of National Economy and Public Administration); Rocheva, Anna (Рочева, Анна) (The Russian Presidential Academy of National Economy and Public Administration); Ivanova, Natalia (Иванова, Наталья) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | The paper presents results of a two-year research project on integration trajectories of second generation migrants from Transcaucasia and Central Asia aged 18-35 years old in Russia. The research is focused on the people who graduated from school in Russia and who has at least one parent who was born in Armenia, Azerbaijan, Uzbekistan, Tajikistan and Kyrgyzstan and can be identified with one of the “non-Russian” ethnic categories. The empirical basis of the paper is a survey of migrants and local youth with non-migrant background with the help of targeting in social networking sites (N=12524) and a series of interviews in four regions of Russia (N=260). The paper characterizes structural, social, cultural and identificational integration of second generation migrants in Russia and compares them with the corresponding data in other countries. On the basis of this analysis, the authors provide recommendations. |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:031928&r=all |
| By: | Annie Georges; Jeanne Brooks-Gunn; Lizabeth M. Malone |
| Abstract: | This article examines the association between attentive and aggressive behavior (at the child- and class-level) and individual child achievement. Children with low attention, alone or in combination with aggressive behavior, made fewer gains in test scores during kindergarten. |
| Keywords: | Attention, aggression , Kindergarten, achievement , low-income children , poverty, classroom fixed effects |
| JEL: | I |
| URL: | http://d.repec.org/n?u=RePEc:mpr:mprres:5e39a89a999d4157b78250e2ba786228&r=all |
| By: | Pedro Bordalo; Nicola Gennaioli; Andrei Shleifer |
| Abstract: | Simonsohn and Loewenstein (SL 2006) present evidence that a household moving from one US city to another tends to pay a rent level that is closer to the city of origin, relative to comparable locals. Building on “Memory, Attention, and Choice” (BGS 2019), we show that these effects emerge from the interaction between memory and attention. In our model, memory is a database of experiences such as rents. The current rent cues recall of past rents, giving rise to a rental norm. A large discrepancy between the current rent and the memory-based norm surprises and attracts the mover’s attention, distorting choice. Thus, when rents in Pittsburgh cue recall of rent experiences in San Francisco, they look surprisingly cheap by comparison, leading the household to spend more. We revisit the SL evidence in light of the model. Besides generating the basic SL findings, our model yields two new predictions, which we test and confirm using 20 additional years of data. |
| JEL: | D03 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:25650&r=all |
| By: | Yoshino, Naoyuki (Asian Development Bank Institute); Hendriyetty, Nella (Asian Development Bank Institute); Lakhia, Saloni (Asian Development Bank Institute) |
| Abstract: | Private–public partnerships in infrastructure have been advocated for many years. Investors currently receive a low rate of return on infrastructure investment. This is because the main sources of revenue from infrastructure investment are user charges. For example, user charges for a water supply cannot be increased since water is a necessary good for everyone. However, a water supply can help to develop regions. For example, new apartments can be constructed, and new businesses can be created in the region where the water is supplied. From this, property tax, corporate income tax, and income tax revenues will rise. In the past, these increased tax revenues have gone to the government rather than being returned to infrastructure investors. If these increased tax revenues were to be returned to investors, the rate of return would rise significantly. Hometown investment trust funds can also provide financing for start-up businesses along with the new infrastructure investments. Land acquisition creates huge difficulties for completing infrastructure investment. Land trusts will solve the issue of owners not wanting to sell their land by giving them the option to keep it and instead lease the land to infrastructure companies and receive long-term rent income, for example for 99 years. In this way, land trusts will smoothen the use of land and transfer the usage rights to infrastructure companies. |
| Keywords: | infrastructure; public–private partnerships; tax revenue; rate of return; land trusts |
| JEL: | H54 H71 O18 |
| Date: | 2019–03–15 |
| URL: | http://d.repec.org/n?u=RePEc:ris:adbiwp:0932&r=all |
| By: | Brown, J. David (U.S. Census Bureau); Earle, John S. (George Mason University); Kim, Mee Jung (George Mason University); Lee, Kyung Min (George Mason University) |
| Abstract: | We estimate differences in innovation behavior between foreign versus U.S.-born entrepreneurs in high-tech industries. Our data come from the Annual Survey of Entrepreneurs, a random sample of firms with detailed information on owner characteristics and innovation activities. We find uniformly higher rates of innovation in immigrant-owned firms for 15 of 16 different innovation measures; the only exception is for copyright/trademark. The immigrant advantage holds for older firms as well as for recent start-ups and for every level of the entrepreneur's education. The size of the estimated immigrant-native differences in product and process innovation activities rises with detailed controls for demographic and human capital characteristics but falls for R&D and patenting. Controlling for finance, motivations, and industry reduces all coefficients, but for most measures and specifications immigrants are estimated to have a sizable advantage in innovation. |
| Keywords: | immigration, entrepreneur, innovation, high-tech, patent |
| JEL: | F22 J15 J60 J61 L26 O15 O30 O31 O32 |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp12190&r=all |
| By: | Emily Moiduddin; Yange Xue; Sally Atkins-Burnett |
| Abstract: | In February 2004, First 5 LA adopted a 10-year Universal Preschool Master Plan to increase the availability of quality preschool spaces in Los Angeles County and created Los Angeles Universal Preschool (LAUP) to implement the plan. |
| Keywords: | First 5 LA , LAUP , Child Progress , Early Childhood |
| JEL: | I |
| URL: | http://d.repec.org/n?u=RePEc:mpr:mprres:d2c4f266d3284e769f65817d532bb028&r=all |
| By: | Jonathan D. Brown; Henry T. Ireys; Kamala Allen; Tara Krissik; Kirsten Barrett; Sheila A. Pires; Gary Blau |
| Abstract: | Findings from two studies suggest that residential youth treatment facilities could improve family involvement in governance and outcome monitoring. |
| Keywords: | Youth , Family , Residential , Mental, Systems of Care |
| JEL: | I J |
| URL: | http://d.repec.org/n?u=RePEc:mpr:mprres:4b5c9d6eff0347b68cf5486ff851d485&r=all |
| By: | Lyons, Angela C. (Asian Development Bank Institute); Grable, John E. (Asian Development Bank Institute); Zeng, Ting (Asian Development Bank Institute) |
| Abstract: | Financial literacy is a key tool being used to bring economically vulnerable populations into the financial mainstream. Data from the 2013 China Household Finance Survey (CHFS) were used to investigate the impacts of various dimensions of financial literacy on the use of bank and non-bank loans among rural, illiterate, and migrant populations in the People’s Republic of China. The findings show that the most vulnerable groups may be less likely to benefit from financial literacy, especially when it comes to usage of formal bank loans. Other factors such as those related to social networks and infrastructure may matter more than financial literacy. Results were found to vary across measures of financial literacy and financial inclusion. The findings suggest that barriers to access likely need to be overcome so that financial literacy can be more effective. The current study provides important insights for policy makers and international organizations designing national strategies to improve financial inclusion via financial literacy, especially for populations that have been traditionally excluded. Researchers are encouraged to reexamine previous definitions and measures of financial literacy and inclusion to develop a better understanding of the relationship between the two dimensions. |
| Keywords: | financial literacy; financial inclusion; loan usage; financially vulnerable populations; People’s Republic of China |
| JEL: | D12 D14 G21 G23 O17 |
| Date: | 2019–02–20 |
| URL: | http://d.repec.org/n?u=RePEc:ris:adbiwp:0923&r=all |
| By: | Niyazi Gündüz (Department of Electrical Engineering and Automation, Aalto University, Espoo, Finland); Sinan Küfeoglu (Energy Policy Research Group, Judge Business School, University of Cambridge, Cambridge.); Christian Winzer (Center for Energy and Environment, School of Management and Law, Zurich University of Applied Sciences , Zurich, Switzerland.); Matti Lehtonen (Department of Electrical Engineering and Automation, Aalto University, Espoo, Finland.) |
| Keywords: | electric power outages, security of supply, customers, interruption, cost, DSO, compensation |
| JEL: | L15 L51 L94 |
| Date: | 2018–06 |
| URL: | http://d.repec.org/n?u=RePEc:enp:wpaper:eprg1822&r=all |
| By: | Sharma, Ajay; Pal, Rupayan |
| Abstract: | We analyze Nash equilibrium in fiscal competition with tax and public investment between symmetric regions. We show that given the opposite strategic nature of tax (strategic complement) and public investment (strategic substitute), there is possibility of multiple equilibria. We find that if strategic substitute effect dominates strategic complement effect, then both regions have first mover advantage in a timing game and simultaneous move Nash equilibrium (early, early) emerges; otherwise sequential move equilibria-(early, late) and (late, early) emerges. Also, sequential move Nash equilibria are Pareto improving than simultaneous move outcome. Lastly, race-to-the-bottom in taxes is restricted in sequential move equilibria. |
| Keywords: | Capital taxation; Public investment; Tax competition; Joint strategic substitutes; Joint strategic complements |
| JEL: | F21 H25 H41 H73 R5 |
| Date: | 2019–03–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:92827&r=all |
| By: | Sally Atkins-Burnett; Pamela Winston; Yange Xue; Emily Moiduddin; Elisha Smith; Susan Sprachman; Nikki Aikens |
| Abstract: | Los Angeles Universal Preschool (LAUP), funded by First 5 LA, sought to make voluntary, high-quality preschool available to every 4-year-old in Los Angeles County. To achieve high-quality preschools, |
| Keywords: | LAUP , First 5 LA , Quality Support , Coaching , Early Childhood |
| JEL: | I |
| URL: | http://d.repec.org/n?u=RePEc:mpr:mprres:6a793ae0b6dd4a3e88a6aae36f6e4f49&r=all |
| By: | Mike Brock (University of East Anglia); Grischa Perino (University of Hamburg) |
| Abstract: | This paper models the effort exerted by neighbouring individuals as they compete for an environmental commodity which exhibits the properties of a mixed public good. Our motivating example is the levels of seed that neighbours dispense when trying to attract birds to their individual gardens for private enjoyment. |
| Date: | 2018–01–30 |
| URL: | http://d.repec.org/n?u=RePEc:uea:ueaeco:2018_05&r=all |
| By: | Cecilia Speroni |
| Abstract: | This study tracked a subset of Florida's 2000–2001 and 2001–2002 high school seniors who took a college algebra placement test. |
| Keywords: | High School , Enrollment Programs , Students , Education |
| JEL: | I |
| URL: | http://d.repec.org/n?u=RePEc:mpr:mprres:ae47a4f61e47474d97003704cba1fe45&r=all |
| By: | Huttunen, Kristiina; Pekkarinen, Tuomas; Uusitalo, Roope; Virtanen, Hanna |
| Abstract: | Abstract We study the effect of post-compulsory education on crime by exploiting a regression discontinuity design generated by admission cut-offs to upper secondary schools in Finland. We combine data on school applications with data on criminal convictions and follow individuals for 10 years. Our results show that successful applicants are less likely to commit crimes during the first five years after admission. Crime is reduced both during and outside the school year, indicating that the channel through which schooling affects crime cannot be explained by incapacitation alone. We find no effect on crime committed after 6 years from admission. |
| Keywords: | Crime, Education, School admission, Incapacitation, Human capital |
| JEL: | K42 I2 |
| Date: | 2019–03–13 |
| URL: | http://d.repec.org/n?u=RePEc:rif:wpaper:64&r=all |