2024-03-29T11:55:31Z
https://mpra.ub.uni-muenchen.de/cgi/oai2
oai:mpra.ub.uni-muenchen.de:91
2019-09-27T20:43:52Z
7374617475733D756E707562
7375626A656374733D43:4332:433239
7375626A656374733D44:4433:443331
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/91/
Educational Qualifications and Wage Inequality: Evidence for Europe
Budria, Santiago
Telhado-Pereira, Pedro
C29 - Other
D31 - Personal Income, Wealth, and Their Distributions
This paper explores the connection between education and wage inequality in nine European countries. We exploit the quantile regression technique to calculate returns to lower secondary, upper secondary and tertiary education at different points of the wage distribution. We find that in most countries returns to tertiary education are highly increasing when moving from the lower to the upper quantiles. This finding suggests that an educational expansion towards tertiary education is expected to increase overall within-groups inequality in Europe. In turn, returns to secondary education are quite homogeneous across quantiles, suggesting that an educational expansion towards secondary education is expected to have only a limited impact on within-groups dispersion. Using data from the last decades, we describe changes in the conditional wage distribution of the surveyed countries. A common feature in Europe is that over the last years wage dispersion increased within the high educated.
2005
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/91/1/MPRA_paper_91.pdf
Budria, Santiago and Telhado-Pereira, Pedro (2005): Educational Qualifications and Wage Inequality: Evidence for Europe.
en
oai:mpra.ub.uni-muenchen.de:92
2019-09-29T04:36:37Z
7374617475733D756E707562
7375626A656374733D43:4332:433239
7375626A656374733D44:4433:443331
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/92/
Can over-education account for the positive association between education and within-groups wage inequality? A note
Budria, Santiago
C29 - Other
D31 - Personal Income, Wealth, and Their Distributions
International evidence shows that returns to education are increasing when moving up along the wage distribution. While researchers have focused on the inequality implications of this finding, little attention has been paid to its causes. This paper asks whether the over-education phenomenon is responsible for the observed pattern. To that purpose, recent data from the European Community Household Panel and several measures of over-education based on the worker’s self-assessment are used. The results show that over-education is not a convincing explanation.
2005
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/92/1/MPRA_paper_92.pdf
Budria, Santiago (2005): Can over-education account for the positive association between education and within-groups wage inequality? A note.
en
oai:mpra.ub.uni-muenchen.de:93
2019-09-26T10:13:50Z
7374617475733D756E707562
7375626A656374733D43:4332:433239
7375626A656374733D44:4433:443331
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/93/
Education, Educational Mismatch, and Wage Inequality: Evidence for Spain
Budria, Santiago
Moro-Egido, Ana
C29 - Other
D31 - Personal Income, Wealth, and Their Distributions
In this paper we explore the connection between education and wage inequality in Spain for the period 1994-2001. Drawing on quantile regression, we describe the conditional wage distribution of different populations groups. We find that higher education is associated with higher wage dispersion. According to this, the educational expansion that took place in Spain over the last years contributed to raise wage inequality through the within- dimension. A contribution of the paper is that we explicitly take into account the fact that workers who are and workers who are not in jobs commensurate with their qualifications have a different distribution of earnings. We differentiate between three different types of educational mismatch: ‘over-qualification’, ‘incorrect qualification’, and ‘strong mismatch’. We find that while over-qualification and incorrect qualification are not associated with lower wages, strong mismatch carries a pay penalty that ranges from 13% to 27%. Thus, by driving a wedge between matched and mismatched workers, the incidence of strong mismatch contributes to enlarge wage differences within education groups. We find that over the recent years, the proportion of strongly mismatched workers rose markedly in Spain, contributing towards further within-groups dispersion.
2004
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/93/1/MPRA_paper_93.pdf
Budria, Santiago and Moro-Egido, Ana (2004): Education, Educational Mismatch, and Wage Inequality: Evidence for Spain.
en
oai:mpra.ub.uni-muenchen.de:4342
2019-10-04T06:59:53Z
7374617475733D756E707562
7375626A656374733D4E:4E34:4E3430
7375626A656374733D4B:4B31:4B3134
7375626A656374733D4F:4F35:4F3531
7375626A656374733D4E:4E34:4E3432
7375626A656374733D48:4835:483536
7375626A656374733D44:4437:443734
7375626A656374733D43:4332:433230
7375626A656374733D4B:4B34:4B3432
7375626A656374733D43:4332:433232
7375626A656374733D43:4332:433239
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/4342/
Cycles of violence, and terrorist attacks index for the State of Massachusetts
Gómez-Sorzano, Gustavo
N40 - General, International, or Comparative
K14 - Criminal Law
O51 - U.S. ; Canada
N42 - U.S. ; Canada: 1913-
H56 - National Security and War
D74 - Conflict ; Conflict Resolution ; Alliances ; Revolutions
C20 - General
K42 - Illegal Behavior and the Enforcement of Law
C22 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes
C29 - Other
Abstract: I apply the Beveridge-Nelson business cycle decomposition method to the time series of per capita murder in the State of Massachusetts. (1933-2005). Separating out “permanent” from “cyclical” murder, I hypothesize that the cyclical part coincides with documented waves of organized crime, internal tensions, breakdowns in social order, crime legislation, social, and political unrest, and recently with the periodic terrorist attacks to the U.S. The estimated cyclical component of murder warns that terrorist attacks in the U.S. from 1940 to 2005, have affected Massachusetts creating estimated turning point dates clearly marked by the most tragic terrorist attacks to the nation: the shut down in power in NYC in 1965, the World Trade Center Bombing in 1993, and 9/11 2001. The index for Massachusetts foretold with amazing precision those attacks, and must be used as a proxy for attacks for the Whole U.S along with indexes already constructed for the nation (http://mpra.ub.uni-uenchen.de/1145/01/MPRA_paper_1145.pdf) and, New York City (http://mpra.ub.uni-muenchen.de/4200/01/MPRA_paper_4200.pdf). The indexes must be used as dependent variables in structural models for terrorist attacks and in models assessing the effects of terrorism on the U.S. economy.
2007-01-21
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/4342/1/MPRA_paper_4342.pdf
Gómez-Sorzano, Gustavo (2007): Cycles of violence, and terrorist attacks index for the State of Massachusetts.
en
oai:mpra.ub.uni-muenchen.de:26908
2019-10-01T22:43:21Z
7374617475733D756E707562
7375626A656374733D43:4332:433239
7375626A656374733D43:4333:433332
7375626A656374733D45:4533:453331
7375626A656374733D45:4535:453532
7375626A656374733D43:4332:433232
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/26908/
The links between inflation and inflation uncertainty at the longer horizon
Tsyplakov, Alexander
C29 - Other
C32 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes ; State Space Models
E31 - Price Level ; Inflation ; Deflation
E52 - Monetary Policy
C22 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes
In this paper I examine the Okun–Friedman hypothesis of the link between inflation and inflation uncertainty using historical international data on the monthly CPI. An indicator of inflation uncertainty at the two-years-ahead horizon is derived from a time-series model of inflation with time-varying parameters by means of Monte Carlo simulations. This indicator is compared to other uncertainty measures, with the short forecast horizon and based on simpler GARCH-type models. The analysis convincingly demonstrates that both the longer horizon and changing parameters are important for the regularity. The evidence obtained strongly supports the Okun–Friedman hypothesis both in the time dimension for most countries and across countries.
2010-11-22
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/26908/1/MPRA_paper_26908.pdf
Tsyplakov, Alexander (2010): The links between inflation and inflation uncertainty at the longer horizon.
en
oai:mpra.ub.uni-muenchen.de:33673
2019-09-28T03:46:52Z
7374617475733D696E7072657373
7375626A656374733D43:4332:433239
7375626A656374733D4A:4A33:4A3331
7375626A656374733D49:4932:493231
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/33673/
Skill mismatches and wages among European university graduates
Bárcena-Martín, Elena
Budría, Santiago
Moro-Egido, Ana I.
C29 - Other
J31 - Wage Level and Structure ; Wage Differentials
I21 - Analysis of Education
This paper uses comparable international data to examine the extent and wage effects of skill mismatches among European university graduates. The results show that the mismatched earn on average 11.7% less than their well-matched counterparts. This effect, however, cannot be regarded as constant across the conditional earnings distribution: workers with lower unobserved earnings capacity tend to be exposed to greater wage loses when they end up in mismatched jobs.
2011-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/33673/1/MPRA_paper_33673.pdf
Bárcena-Martín, Elena and Budría, Santiago and Moro-Egido, Ana I. (2011): Skill mismatches and wages among European university graduates. Forthcoming in: Applied Economics Letters
en
oai:mpra.ub.uni-muenchen.de:38059
2019-09-28T13:52:10Z
7374617475733D707562
7375626A656374733D43:4332:433239
7375626A656374733D47:4731:473132
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/38059/
Test of Higher Moment Capital Asset Pricing Model in Case of Pakistani Equity Market
Javid, Attiya Yasmin
C29 - Other
G12 - Asset Pricing ; Trading Volume ; Bond Interest Rates
In this study we test the mean-variance capital asset pricing model (CAPM) developed by Sharpe (1965) Lintner (1966) on individual stocks traded at Karachi Stock Exchange (KSE), the main equity market in Pakistan for the period 1993-2004 using daily and monthly data. The empirical findings do not support standard CAPM as a model to explain assets pricing in Pakistani equity market. In response to this finding first, we have extended the model to mean-variance-skewness and mean-variance-skewness-kurtosis model following Kraus and Litzenberger (1976). In the second step we allow the covariance, coskewness and cokurtosis to vary over time in autoregressive context leading to conditional three-moment CAPM and conditional four-moment CAPM. The results of unconditional and conditional higher-moments CAPM reveal that three-moment CAPM performed relatively well in explaining risk-return relationship in Pakistan during the sample period However, the results of higher-moment model indicate that systematic covariance and systematic cokurtosis have marginal role in explaining the asset price behavior in Pakistan.
2009
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/38059/1/MPRA_paper_38059.pdf
Javid, Attiya Yasmin (2009): Test of Higher Moment Capital Asset Pricing Model in Case of Pakistani Equity Market. Published in: European Journal of Economics, Finance and Administrative Studies No. 15 (2009)
en
oai:mpra.ub.uni-muenchen.de:75967
2019-09-26T14:58:08Z
7374617475733D707562
7375626A656374733D43:4331:433132
7375626A656374733D43:4331:433138
7375626A656374733D43:4332
7375626A656374733D43:4332:433232
7375626A656374733D43:4332:433239
7375626A656374733D43:4333:433332
7375626A656374733D43:4335:433532
7375626A656374733D45:4532:453231
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/75967/
Stationarity and cointegration tests: Comparison of Engle - Granger and Johansen methodologies
Bilgili, Faik
C12 - Hypothesis Testing: General
C18 - Methodological Issues: General
C2 - Single Equation Models ; Single Variables
C22 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes
C29 - Other
C32 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes ; State Space Models
C52 - Model Evaluation, Validation, and Selection
E21 - Consumption ; Saving ; Wealth
Engle-Granger methodology follows two-step estimations. The first step generates the residuals and the second step employs generated residuals to estimate a regression of first-differenced residuals on lagged residuals. Hence, any possible error from the first step will be carried into second step.
The Johansen maximum likelihood methodology circumvents Engle-Granger methodology by estimating and testing for the presence of multiple cointegrating vectors through largest canonical correlations. The number of non-zero eigenvalues of Ψ of eq. 26 in the text will specify the number of cointegrating vectors. Some Monte Carlo evidence explores that Johansen procedure performs better than both single equation methods and alternative multivariate methods. In fact, evidence of this paper reveals, as well, that, as Engle-Granger yields some inconclusive outcome, the Johansen tests reach at least one cointegration relationship among variables for Canada, India, Italy, Japan, Turkey and the USA. Then, one may claim that Johansen methodology dominates the Engle- Granger methodology in cointegration analyses.
1998
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/75967/1/MPRA_paper_75967.pdf
Bilgili, Faik (1998): Stationarity and cointegration tests: Comparison of Engle - Granger and Johansen methodologies. Published in: Journal of Faculty of Economics and Administrative Sciences, Erciyes University No. 13 (1998): pp. 131-141.
en
oai:mpra.ub.uni-muenchen.de:83572
2019-09-30T05:09:03Z
7374617475733D756E707562
7375626A656374733D43:4331:433133
7375626A656374733D43:4332:433239
7375626A656374733D44:4431:443132
7375626A656374733D44:4434:443433
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/83572/
La elasticidad precio de la demanda de transporte aéreo de pasajeros en los Estados Unidos.
Escañuela Romana, Ignacio
C13 - Estimation: General
C29 - Other
D12 - Consumer Economics: Empirical Analysis
D43 - Oligopoly and Other Forms of Market Imperfection
The object of this work is to estimate the price elasticity of demand for air transport of passengers in the United States, and review the adequacy of the various methods used to make a quantification of the elasticity of demand for a good or service. The problems to make a robust quantification of that value are classic and well-known. There are omitted variables, on both the demand and supply sides, and the problem of identifiability seems to be serious. The simple regression, which is the most common method, is analyzed. As well as the method of instrumental variables: using the price of oil. But the conclusion reached is that those procedures yield unreliable results. Through the quasi-experimental procedure, I get an estimate of the price elasticity of demand, with the drawback that includes the ability to switch between air routes. It offers a close, reliable quantification of the demand for air routes. Finally, harmonic analysis does suggest a value of the elasticity for the market as a whole. Both methods would give a solution to this econometric problem.
2018-01-02
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/83572/1/MPRA_paper_83572.pdf
Escañuela Romana, Ignacio (2018): La elasticidad precio de la demanda de transporte aéreo de pasajeros en los Estados Unidos.
es
oai:mpra.ub.uni-muenchen.de:87633
2019-09-26T20:26:23Z
7374617475733D756E707562
7375626A656374733D43:4332:433239
7375626A656374733D49:4932:493231
7375626A656374733D4A:4A33:4A3331
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/87633/
Education and wage inequality before and during the fiscal crisis: A quantile regression analysis for Greece 2006-2016
Chletsos, Michael
Roupakias, Stelios
C29 - Other
I21 - Analysis of Education
J31 - Wage Level and Structure ; Wage Differentials
The Greek labour market has undergone dramatic changes during the last 10 years. Wage inequality, especially at the bottom end of the earnings distribution, increased sharply. At the same time, the past trend towards educational upgrading of the labour force has further been boosted. In this paper, we analyze the relationship between education and the dispersion of male earnings, using Labour Force Survey data for years 2006 and 2016. We address the issue of unobserved heterogeneity by employing a quantile regression approach. We also account for potential endogeneity by employing the IVQR approach introduced by Chernozhukov and Hansen (2008). Our best estimates suggest that education exerts a negative effect on earnings inequality in the pre-crisis period. However, during the recession, the returns to education appear to be significantly higher at the upper end of the wage spectrum, thereby contributing to increased inequality. We also find evidence that the impact of education on the dispersion of earnings is stronger in the private sector. Finally, we also account for the incidence of over-education. Interestingly, the penalty that overqualified workers suffer, declines across the conditional earnings distribution and disappears completely at the highest quantile in 2016.
2018-06-28
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/87633/1/MPRA_paper_87633.pdf
Chletsos, Michael and Roupakias, Stelios (2018): Education and wage inequality before and during the fiscal crisis: A quantile regression analysis for Greece 2006-2016.
en
oai:mpra.ub.uni-muenchen.de:99921
2020-05-02T10:05:01Z
7374617475733D756E707562
7375626A656374733D43:4332:433231
7375626A656374733D43:4332:433239
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/99921/
Smile: A Simple Diagnostic for Selection on Observables
Slichter, David
C21 - Cross-Sectional Models ; Spatial Models ; Treatment Effect Models ; Quantile Regressions
C29 - Other
This paper develops a simple diagnostic for the selection on observables assumption in the case of a binary treatment variable. I show that, under common assumptions, when selection on observables does not hold, designs based on selection on observables will estimate treatment effects approaching infinity or negative infinity among observations with propensity scores close to 0 or 1. Researchers can check for violations of selection on observables either informally by looking for a "smile" shape in a binned scatterplot, or with a simple formal test. When selection on observables fails, the researcher can detect the sign of the resulting bias.
2020-04-25
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/99921/2/MPRA_paper_99921.pdf
Slichter, David (2020): Smile: A Simple Diagnostic for Selection on Observables.
en
oai:mpra.ub.uni-muenchen.de:110963
2021-12-13T08:10:05Z
7374617475733D756E707562
7375626A656374733D43:4331
7375626A656374733D43:4332:433239
7375626A656374733D50:5031:503139
7375626A656374733D51:5134:513433
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/110963/
The challenges and opportunities of electricity generation on economic growth in South Africa: An ARDL approach
Hlongwane, Nyiko Worship
Daw, Olebogeng David
C1 - Econometric and Statistical Methods and Methodology: General
C29 - Other
P19 - Other
Q43 - Energy and the Macroeconomy
This study examines the challenges and opportunities of electricity generation from
coal on growth of South African economy. The study utilizes the available annual time series
data collected from secondary sources (World Bank) spanning for the period from 1971 to
2015. The study employs the Autoregressive Distributed Lag (ARDL) model and an Error
Correction Model (ECM) to analyse the challenges and opportunities of coal-fired electricity
generation on growth South African economy. Statistical results from revealed a positive
statistically insignificant short run and positive statistically significant long run relationship
between electricity generated from coal and economic growth in South Africa. Renewable
electricity generation also contribute positively to economic growth both in the short and long
run period. The policy implication from this study is that the policy makers need to acknowledge the positive contribution of coal-fired electricity generation, revise policies on decommissioning of these powerplants, implement policies that encourage coal-fired electricity generation in a way that is environmentally friendly and increase investment in renewable electricity generation to boosts economic growth in South Africa.
2021-12-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/110963/9/MPRA_paper_110963.pdf
Hlongwane, Nyiko Worship and Daw, Olebogeng David (2021): The challenges and opportunities of electricity generation on economic growth in South Africa: An ARDL approach.
en