1,720,999 research outputs found
Financial development and long-run growth: Is the cross-sectional evidence robust?
No full textIn a seminal paper, Levine, Loayza and Beck (LLB, 2000) provide cross-sectional evidence showing that financial development has positive average impact on long-run growth, using a sample of 71 countries. We argue that the evidence is sensitive to the presence of outliers
Returns to education and wage equations: A dynamic approach
No full textWe study the impact of education on within-groups wage inequality using quantile-regression techniques and US data for the period 1980 to 1987. Our contribution consists of comparing estimates based on a standard Mincer equation with estimates based on a modified Mincer equation in which past earnings play the role of additional explanatory variable. We find that a dynamic model does not give the same answer as a static model regarding the impact of schooling on earnings dispersion, and provide an explanation for this result
Efficiency vs. market-power effects in the mobile-voice industry
Full text linkThis paper suggests a new procedure for separating the market-power effect from the efficiency effect when cost data are not available. We examine a panel of data on 177 mobile-voice operators in 45 countries from 1999:1 to 2004:2 and find that a 1% increase in the market share of an operator increases its price-cost margin by 0.58-0.66%, but only a small share of this increase is due to a market-power effect
The total impact of schooling on within-groups wage inequality in Portugal
No full textUsing Portuguese data from the 2001 wave of the European Community Household Panel, we analyse to what extent the endogeneity of schooling affects the estimation of the total impact of schooling on within-groups wage inequality by means of quantile-regression techniques. We conclude that the standard techniques assuming schooling-exogeneity may underestimate the total impact of schooling
Portugal and the competitive disinflation: Let the data speak
Full text linkThis paper provides an empirical evaluation of the three main arguments proposed by Blanchard (2007) in a recent article on the evolution of the Portuguese economy during the last decade, with special regard to the dynamics of international trade and unemployment. Our time-series evidence supports two out of the three arguments
How well does a dynamic Mincer equation fit NLSY data? Evidence based on a simple wage-bargaining model
No full textThis article argues that a dynamic Mincer equation can be seen as the solution of a simple wage-bargaining model between a worker and an employer where the unemployment-benefit level, affecting the outside option of the worker, depends on past wages. Further, it shows that this model provides a good fit of the US National Longitudinal Survey of Youth data. The evidence is robust to a number of sensitivity checks
Tertiary education for all and wage inequality: Policy insights from quantile regression
No full textThe aim is to assess how a policy of tertiary education for all affects the shape of the unconditional earnings distribution.
Design/methodology/approach
The paper discusses the quantile-regression literature looking at the link between education and wage inequality, also proving new evidence based on unconditional quantile regressions.
Findings
The findings support the idea that a policy of tertiary education for all increases the overall level of wage inequality.
Research limitations/implications
The research has implications for public policy and administration. Among the limitations, the paper does not deal with distributional aspects related to other outcomes (e.g. health outcomes) of the policy of interest.
Practical implications
The analysis highlights a series of potential government interventions aimed at reducing the wage-inequality externalities of the policy of interest.
Social implications
A policy of tertiary education for all, by itself, is not useful to fight wage inequality.
Originality/value
This paper belongs to the small group of studies using unconditional quantile regressions to study the link between education and wage inequality. It is the first study specifically looking at the distributional effects of a policy of tertiary education for all
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