Tomoaki Kotera,Ananth Seshadri
Tomoaki Kotera
In the United States, there is considerable variation in intergenerational mobility across states. We argue that the distribution of public school spending across school districts under public school finance systems affects intergenerationa...
Rong Hai,James J Heckman
Rong Hai
This paper investigates the determinants of inequality in human capital with an emphasis on the role of the credit constraints. We develop and estimate a model in which individuals face uninsured human capital risks and invest in education,...
HUMAN CAPITAL GROWTH AND POVERTY: EVIDENCE FROM ETHIOPIA AND PERU [0.03%]
人力资本增长与贫困问题——基于埃塞俄比亚和秘鲁的证据
Orazio Attanasio,Costas Meghir,Emily Nix et al.
Orazio Attanasio et al.
In this paper we use high quality data from two developing countries, Ethiopia and Peru, to estimate the production functions of human capital from age 1 to age 15. We characterize the nature of persistence and dynamic complementarities bet...
Isaac Sorkin
Isaac Sorkin
An empirical consensus suggests that there are small employment effects of minimum wage increases. This paper argues that these are short-run elasticities. Long-run elasticities, which may differ from short-run elasticities, are policy rele...
J Vernon Henderson,Anthony J Venables
J Vernon Henderson
This paper examines city formation in a country whose urban population is growing steadily over time, with new cities required to accommodate this growth. In contrast to most of the literature there is immobility of housing and urban infras...
Lee M Lockwood
Lee M Lockwood
Few retirees annuitize any wealth, a fact that has so far defied explanation within the standard framework of forward-looking, expected utility-maximizing agents. Bequest motives seem a natural explanation. Yet the prevailing view is that p...
Sam Schulhofer-Wohl
Sam Schulhofer-Wohl
I study the welfare cost of business cycles in a complete-markets economy where some people are more risk averse than others. Relatively more risk-averse people buy insurance against aggregate risk, and relatively less risk-averse people se...