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Author : Jacob A. Stockfisch
Publisher :
ISBN 13 :
Total Pages : 126 pages
Book Rating : 4.3/5 (9 download)
Download or read book Three Essays on the Economics of Subsidies written by Jacob A. Stockfisch and published by . This book was released on 1973 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Derek Rice
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Three Essays in Development Economics written by Derek Rice and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation contains three essays in the economics of development. The first essay investigates the effects of the decentralization of governance over education to communities in terms of individual education outcomes. The next essay relates to the first by exploring the factors that drive communities to adopt decentralized governance, including forms of decentralized governance over education. The last essay returns to the topic of education by examining a policy aimed at decreasing the costs of post-secondary education for a minority group. Each essay probes these topics within the context of First Nations in Canada. The first essay examines the substantial impacts of education decentralization on high school attendance and completion through the analysis of First Nation education self-government agreements in Canada. These agreements are important institutional arrangements that transfer the authority over education from the federal government to First Nations. I exploit confidential microdata and exogenous variation in the implementation of education self-government agreements to perform the analysis. My results indicate that self-government agreements focused exclusively on education increase high school attendance by 5 to 9 percentage points and high school completion by 3 to 5 percentage points. However, the effects on high school completion rates under multi-sectoral self-government agreements implemented together with comprehensive land claim agreements and for self-government agreements that focus on education alone differ dramatically for women and men. High school completion improves by 8 to 11 percentage points for women, but drops by a staggering 17 to 25 percentage points for men. These results have important policy implications for education decentralization in general, along with implications for the particular case of First Nation education self-governance in Canada. The second essay identifies the determinants of decentralized governance by exploring the First Nation self-government agreement claim and implementation processes. I use a novel dataset on self-government agreements and confidential microdata to perform the analysis. My results support the notion that we can treat self-government treatment variables as exogenous, when controlling for reserve fixed effects. This is not an onerous condition to impose. Specifically, I do not find any factors of economic or statistical significance for claims for my richest and most-preferred specification, which includes controlling for reserve fixed effects. Contrary to the results for claims, I find that education and income are important factors for implementation, but only conditional on a reserve having previously made a claim. However, this significance disappears, once I relax this condition and compare the determinants of implementation against reserves that may or may not have made a claim. The third essay examines the substantial impacts of a targeted policy that provides postsecondary tuition and living expense subsidies for Aboriginal Canadians. To identify the effects of the policy, I exploit a reform of the policy's eligibility requirements in 1985 that lead to a large increase in the number of individuals with access to the subsidies. My results indicate that the reform lead to economically and statistically significant increases in the likelihood of attaining any post-secondary education for a group of women whose eligibility was particularly targeted by the reform and for women generally. These increases range from about 4 to 7 percentage points. The effects for men are positive, but much smaller and not significant.
Author : Edward Dylan Morgan
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (9 download)
Download or read book Three Essays on Environmental Economics written by Edward Dylan Morgan and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter 1: When Environmental Subsidies Backfire: The Case of Black Liquor and the Alternative Fuel Mixture Tax Credit: In 2005, the US government introduced the Alternative Fuel Mixture Tax Credit (AFMTC), which paid fifty cents/gallon for alternative fuel that was mixed and burned with traditional fuel. The American chemical pulp industry, which has traditionally burned 'Black Liquor', a residue of the pulping process, was able to make large claims on this subsidy in 2009 by mixing diesel fuel into a process where it was not required. This scenario exhibits two main downfalls of environmental subsidies: (i) the majority of the subsidy is paid to free-riders, and (ii) there are strong incentives towards overproduction and increased pollution. In this paper, the value of the AFMTC per tonne of chemical pulp is computed and used in a simulation using the Global Forest Products Model (Buongiorno, 2001) to calculate the effects of the AFMTC on the American and Canadian chemical pulp industries. The simulation suggests that the total amount paid to the American chemical pulp industry was US$7.63 billion, that American chemical pulp production rose by 2.5 million tonnes from the baseline, and Canadian production and exports to the US fell by 285,000 and 255,000 tonnes respectively, costing Canadian chemical pulp producers US$132 million in lost production. Using Canadian chemical pulp production and pollutant release data, production/release averages were developed. These averages suggest that the increase in American chemical pulp production led to significant increase in releases of greenhouse gases, hydrogen sulfide, sulfur oxides, nitrogen oxides and particulate matter. Chapter 2: The Alternative Fuel Mixture Tax Credit and the Pulp and Paper Green Transformation Program: A Policy Comparison: In 2009, chemical pulp mills in the US and Canada were able to take advantage of two subsidy programs that paid mills fifty cents for every gallon of 'Black Liquor' burned during the pulping process. Black Liquor is a residue product from the production of chemical pulp, and is traditionally used as a fuel in further pulp production. These subsidies were the Alternative Fuel Mixture Tax Credit (AFMTC) in the US and the Pulp and Paper Green Transformation Program (PPGTP) in Canada. Even though the AFMTC was a subsidy that applied to many industries, and the PPGTP was only available to chemical pulp mills, in the context of the chemical pulp industry only, the subsidies were almost identical: Both paid mills the same amount for undertaking the same activity, and mills were able to claim the subsidies for roughly the same amount of time. The key difference between the two programs was stipulations on how the money was to be spent. In the US, the AFMTC was a refundable tax credit, and simply another source of revenue for a recipient mill. In Canada, a recipient of PPGTP funds was required to spend the money on some form of capital investment that would increase energy efficiency or lower pollution emissions from the mill. In this paper, we develop a theoretical model with a representative chemical pulp mill in order to compare the effects that these two subsidies would have on the mill's production of pulp (and in turn its production and use of black liquor), and its decision in whether to invest in a one-time capital improvement that would increase energy efficiency at the mill. The results from this model show that the PPGTP was a more effective policy than the AFMTC, in that it encouraged increased investment in energy efficiency, whereas the AFMTC did not. However, the PPGTP provides incentives to increase production, similar to the AFMTC, in two out of three possible outcomes. Even though the PPGTP is shown to be more effective than the AFMTC, it still exhibits several properties inherent in a second-best policy - because the subsidy is tied to production, it encouraged increased production, and may not have allocated funding in an efficient manner. Chapter 3: Naming, Shaming, and Abatement: Do Published 'Top Emitter' Lists Provide Incentive for Increasing Pollution Prevention Activities? Several works have measured the effects that publically disclosed pollutant release information has on the firms and facilities reporting the information. Most of these studies quantify the negative response that the information garners with the media, through some measure of media coverage, and measure the negative impact that this attention has on the firm; for example, by showing a negative effect on the respective company's publically traded stock performance. Subsequent studies have then shown how these negative impacts from publicity cause firms to report lower emissions levels in following years. What is currently missing from this body of literature, however, is an examination of the step in between the firm receiving negative press and reporting lower emissions, namely, increased pollution abatement efforts on behalf of the publically labeled facility. In this paper, we attempt to gain a better understanding of this relationship by examining Canadian self-reported facility level data on pollution prevention activities from the National Pollutant Release Inventory. Two consistent samples of data are used to empirically test the effects that 'Top Ten' emitter lists, published by Environment Canada in the late 1990's, had on the number of pollution prevention activities undertaken by facilities in the following year. The results from this work were inconclusive: Between these two samples, there was a noticeable decrease in the amount of pollution prevention activities reported in years after the cessation of the Top Ten publications. Under certain model specifications, a facility that was labeled as a Top Ten emitter is estimated to have 20% more pollution prevention activities undertaken compared to a facility that was not so labeled. It was also shown that a firm that reported new pollution abatement activities also had a significant reduction in releases. This finding, along with the decreasing trend in reported activities, raises a significant policy issue, as measures that clearly reduce reported emissions are being reported with less frequency in Canada.
Author : Christopher Luke Watson
Publisher :
ISBN 13 :
Total Pages : 209 pages
Book Rating : 4.7/5 (386 download)
Download or read book Three Essays in Public Economics written by Christopher Luke Watson and published by . This book was released on 2021 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation is composed of two chapters on the economy-wide effects of the Earned Income Tax Credit and one chapter on the effects of monopolistic market structure in urban rental markets. Each chapter considers unintended consequences of public actions given an interconnected market place. For chapter this is skill substitutability, chapter two spatial connections, and chapter three preferences and market power.Chapter one studies the general equilibrium incidence of the Earn Income Tax Credi by formalizing the theoretical mechanisms and quantifying its empirical importance. The Earned Income Tax Credit is a $67 billion tax expenditure that subsidizes 20\\% of all workers. Yet all prior analysis uses partial equilibrium assumptions on gross wages. I derive the general equilibrium incidence of wage subsidies and quantify the importance of EITC spillovers in three ways. I calculate the GE incidence of the 1993 and 2009 EITC expansions using new elasticity estimates. I contrast the incidence of counterfactual EITC and Welfare expansions. I quantify the effect of equalizing the EITC for workers with and without children. In all cases, I find spillovers are economically meaningful relative to the intended direct effects.Chapter two studies the county level labor market effects of state supplements to the Earned Income Tax Credit.Twenty eight states spend $4 billion to supplement the federal Earned Income Tax Credit, with several justifying the tax expenditure as a pro-work incentive. Yet no systematic evaluation of these supplements exists. I use state border policy variation to identify state supplements effects. I first document that subsidy rates are greater when a state's neighbor already has a supplement. Next, I assess whether supplements affect county level EITC take-up, migration, commuting, employment, and earnings. Estimates are sensitive to the estimation design and sample used. While supplements increase benefits to low-income workers, results fail to provide robust evidence of increased economic activity.Chapter three is joint with Oren Ziv. We investigate the sources, scope, and implications of landowner market power in New York City rental markets. We show how zoning regulations generate spillovers through increased markups and derive conditions under which restricting landownership concentration reduces rents. Using new building-level data from New York City, we find that a 10% increase in ownership concentration in a Census tract is correlated with a 1% increase in rent.Market power is substantial: on average, markups account for nearly a third of rents in Manhattan. Furthermore, pecuniary spillovers between zoning constraints and markups at other buildings are appreciable. Up-zoning that results in 417 additional housing units at zoning-constrained buildings reduces markups on policy-unconstrained units and generates between 5 and 19 additional units through increased competition.
Author : Simeon Djankov
Publisher :
ISBN 13 :
Total Pages : 218 pages
Book Rating : 4.3/5 (91 download)
Download or read book Three Essays on the Economics of Transition written by Simeon Djankov and published by . This book was released on 1999 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : David Russell Hansen
Publisher : Stanford University
ISBN 13 :
Total Pages : 147 pages
Book Rating : 4.F/5 ( download)
Download or read book Three Essays in Development Economics written by David Russell Hansen and published by Stanford University. This book was released on 2011 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation is composed of three chapters. All three deal with topics in development economics. The first chapter examines the effects on village institutions of introducing formal financial institution options into the village. The second addresses the effects of government policy on educational investment and crime. The third tests the explanatory power of various explanations of the gender gap in math test scores. The first chapter examines the effects of a transition from a ``traditional'' economy based on an uncertain source of income, with risk fully insured away by one's neighbors in a social network through costly network ties, to a ``modern'' economy in which some agents have access to partial insurance at a lower cost. A theoretical model is used to show that village social networks can break down as some members of the village no longer need the insurance the social network provides, producing a reduction in welfare (if the costs of reducing moral hazard are not too high) for at least some individuals and possibly the village as a whole. This loss of welfare can occur even when networks provide other benefits to those belonging to them and is likely to be heterogeneous, depending on the opportunities and networks available to individuals. This paper tests these predictions using Indonesian data to examine the effect of a change in the banking institutions available to a community on the strength of social networks (measured by community participation) and welfare (measured by household expenditure and by child health). The analysis finds that changing financial institution availability in general does not influence community participation or welfare, but that financial institutions that primarily serve certain groups do relatively reduce the welfare of households not in those groups, which is consistent with the hypotheses generated by the model. Crime is an important feature of economic life in many countries, especially in the developing world. Crime distorts many economic decisions because it acts like an unpredictable tax on earnings. In particular, the threat of crime may influence people's willingness to invest in schooling or physical capital. The second chapter explores the questions "What influence do crime rates and levels of investment have on one another?" and "How do government policies affect the relationship between investment and crime?" by creating a simple structural model of crime and educational investment and attempting to fit this model to Mexican data. A method of simulated moments procedure is used to estimate parameters of the model and the estimated parameters are then used to carry out policy simulations. The simulations show that increasing spending on police or increasing the severity of punishment reduces crime but has little effect on educational investment. Increased educational subsidies increase educational investment but reduce crime only slightly. Thus, one type of policy is insufficient to accomplish the goals of both reducing crime and increasing education. The third chapter is joint work with Prashant Bharadwaj, Giacomo De Giorgi, and Christopher Neilson. Boys tend to have better performances than girls in mathematical testing; in particular, there are significantly more boys than girls among high achievers and the score distribution appears to have a longer right tail for boys. We confirm such results on several low- and middle-income countries. In particular we find that the gender gap is already present by age 10 and substantially increases by age 14 and 15. We propose and try to test a series of explanations for such a gap: (i) parental investment, (ii) ability, (iii) school resources, (iv) individual investment and effort (not tested directly), (v) competitive environment, and (vi) cultural norms. We conclude that none of our proposed explanations can account for a substantial portion of the gap.
Author : Safa Ragued
Publisher :
ISBN 13 :
Total Pages : 121 pages
Book Rating : 4.:/5 (113 download)
Download or read book Three Essays on the Economics of Higher Education written by Safa Ragued and published by . This book was released on 2017 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt: My thesis bridges two different literatures namely, the Economics of Education and Labor Economics. These two literatures are brought together to bear on public policy aimed at enhancing human capital and preventing inefficient schooling paths. The first chapter proposes a general equilibrium model of enrollment in higher education and labor supply, in the context of uncertain return on higher education and internationally mobile capital. The study aims to contrast the performances of different wage tax proposals on skill formation. The results suggest that the quantitative impact on skill formation of switching from the flat to the progressive tax varies with the level of efficiency with which higher education imparts graduates with suitable skills. This impact is negative when the level of efficiency of higher education is low and positive when it is high. The second chapter raises the issue of income inequality. The model considers three types of interventions on which the government could take action to maximize social welfare: financing early education, subsidizing college tuition and/or redistributing income through taxation. The study jointly determines the optimal level of these policies using a model of college enrollment. When calibrated to empirical evidence from the Canadian Province of Ontario, the model predicts an optimal policy mix characterized by the coexistence of redistributive taxation, public investment in K-12 education, and public subsidies for college tuition. Compared to the Status Quo policy scenario in Ontario, the optimal policy mix exhibits a lower share of public funds allocated to K-12 education, a higher share allocated to college tuition subsidies, and a higher level of redistributive taxation. More importantly, the results conclude that studies that do not jointly determine the optimal levels of the three policy options tend to overestimate these levels. While the first two chapters study the optimality of public policies, the third chapter empirically tackles the issue of temporary interruption of higher education, particularly, its effect on subsequent wages. Most of the studies that address the issue of the economic consequences of schooling interruption, examine dropping-out as a permanent decision. Little attention has so far been given to the effect of temporary drop out on earnings despite the substantial number of dropouts who at some point decide to re-enroll and complete their education. This chapter contributes to the understanding of this issue by investigating the extent to which schooling discontinuities affect post-graduation starting real wages and whether the latter are differently influenced by the reasons behind these discontinuities. This subject is examined using data from the 2007 National Graduate Survey. The covariates endogeneity is taken into account using Lewbel's (2012) generated instrument approach. The latter imposes some reasonable restrictions on the conditional second moments of the data, under heteroscedasticity of the error terms of the endogenous covariates. Under these constraints, the Lewbel framework provides generated instruments which are used along with additional external instruments, to estimate the model. Conditional on the levels of schooling and experience, the results find a positive effect on wages of temporary schooling interruption for men who had held a full-time job during their out-of-school spell(s). Both men and women witness a wage decrease if their interruption is associated with health issues. Women also bear a wage penalty if their interruption is due to a part-time job, to lack of money, or is caused by reasons other than health, work, and money.
Author : Hong Ding
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (871 download)
Download or read book Three Essays on Buyer Power, Market Structure and Government Subsidies written by Hong Ding and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter 1: Downstream Competition and the Effects of Buyer Power The first chapter examines the interaction between buyer power and competition intensity in the downstream market in affecting consumer and total welfare. We study a model where oligopolistic retailers compete in quantity in the downstream market and one of them is a large retailer that has its own exclusive supplier. Negotiation between this retailer and its supplier is modeled as a generalized Nash bargaining game. We demonstrate that an increase in the buyer power of the large retailer against its supplier leads to a fall in retail price and consequently an improvement in consumer surplus and this is true even in the extreme case where the downstream market is served by a monopoly. More interestingly, we find that the effects of buyer power are large when the intensity of downstream competition is low, with the effects being the largest in the case of downstream monopoly. This suggests that buyer power and downstream competition are substitutes. Chapter 2: Subsidy, Product Diversity and Buyer Power The objective of the second chapter is to analyze the effectiveness of government subsidies in promoting product diversity when the downstream firm (a retailer) has buyer power. We extend the standard Dixit-Stiglitz model of monopolistic competition and compare the effects of subsidies on equilibrium number of product varieties and social welfare in the case where products are sold directly to consumers and the case where they are sold through a monopoly retailer with buyer power. Two types of subsidies are considered, a subsidy on marginal cost and a subsidy on fixed cost. We find that while the two types of subsides have different effects on the quantity and retail price of each variety, they both raise the number of product varieties and the social welfare. Moreover, a combination of the two types of subsidies is able to achieve the social optimum. These results are true even when products are distributed through a downstream monopoly retailer who has all the bargaining power, but the mechanism through which a subsidy increases product varieties is different. In comparison with the case where products are distributed directly to consumers, retailer buyer power reduces product variety and social welfare. Furthermore subsidies become less effective in the presence of buyer power. To be more specific, retailer buyer power has both a level effect and a marginal effect on product diversity. At any given subsidy rate, the equilibrium number of varieties is smaller and a marginal increase in subsidy leads to a smaller increase in the number of varieties. Chapter 3: Subsidy on Complementary Products in a Model of Monopolistic Competition The third chapter seeks to re-examine the market provision of product diversity under monopolistic competition and the effects of an infinitesimal subsidy on product variety and social welfare in the case of complementary products. This examination builds on the standard Dixit-Stiglitz model of monopolistic competition but assumes an alternative demand linkage. The results show that, different from the case of substitutable products, demand complementarity leads to multiple equilibriums and the number of product varieties could be higher or lower than the constrained optimum depending on the level of the fixed cost of production. When the fixed costs are small, the market yields too many products and an infinitesimal subsidy exacerbates the problem leading to an over-supply of product varieties. On the other hand, when the fixed costs are large, there are too few products and in some cases the complementary goods industry becomes non-existent. A subsidy that induces a switch of equilibriums enhances product variety and improves social welfare.
Author : Jordan Dmitri Matsudaira
Publisher :
ISBN 13 :
Total Pages : 344 pages
Book Rating : 4.3/5 (91 download)
Download or read book Three Essays in Education and Labor Economics written by Jordan Dmitri Matsudaira and published by . This book was released on 2005 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays on Oligopolistic Competition, Product Differentiation and International Trade written by and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Yoonyoung Cho
Publisher :
ISBN 13 :
Total Pages : 148 pages
Book Rating : 4.:/5 (89 download)
Download or read book Three Essays in Public Economics written by Yoonyoung Cho and published by . This book was released on 2005 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Joseph Orsini
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (939 download)
Download or read book Three Essays on the Economics of Health Insurance written by Joseph Orsini and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation explores the functioning of the non-group health insurance market under various regulatory regimes. The first chapter estimates the relationship between health status and product choice in this market prior to the Affordable Care Act (ACA). I use insurers' decisions of whether to approve or reject applications for health insurance to identify this relationship. These decisions are based upon a comprehensive health history that the consumer must disclose to the insurer upon applying. I assume that the insurer uses this health history, as well as the financial characteristics of the product that was applied for, to estimate the expected cost of insuring the consumer, approving whenever this cost exceeds the product's premium. This assumption allows me to estimate how insurers' forecasts of applicants' costs differ depending on the type of product chosen in a discrete choice framework. I estimate that demanders of high deductible coverage are much costlier to insure than others. Additional analysis reveals that these consumers are likely to be impoverished, suggesting that cash constraints and/or price sensitivity may explain their preference for minimal coverage. The second chapter is co-authored with Pietro Tebaldi, and estimates the impact of age-based pricing restrictions in the post-reform market. The ACA fixes the ratio between health insurance premiums charged to consumers of different ages, which generates a relationship between the fraction of relatively old consumers in a geographic market and the prices faced by young consumers in that market. We show that this relationship is present in the prices faced by consumers on the ACA exchanges, but was not present in the pre-ACA market. We take this as evidence that the relationship between price and population age observed in the ACA data is indeed attributable to this regulation. We then use this variation, combined with a model of insurer price-setting, to back out the age-specific prices that would prevail if the regulation of interest were eliminated. We estimate that this regulation substantially raises premiums for younger buyers while reducing them for older buyers, and therefore alters the allocation of coverage to consumers of different ages. Because the value of the subsidies that the federal government provides is directly tied to premiums, this regulation has also had a substantial impact on the federal budget, decreasing subsidy outlays by approximately $2.3 billion. The final chapter is co-authored with Michael Dickstein, Mark Duggan, and Pieto Tebaldi, and explores another aspect of the ACA's pricing restrictions. Individual states have discretion in how they define coverage regions, within which insurers must charge the same premium to buyers of the same age, family structure, and smoking status. We exploit variation in these definitions to investigate whether the size of the coverage region affects outcomes in the ACA marketplaces. We find large consequences for small and rural markets. When states combine small counties with neighboring urban areas into a single region, the included rural markets see .6 to .8 more active insurers, on average, and savings in annual premiums of between $200 and $300.
Author : Frédéric Bastiat
Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.0/5 (18 download)
Download or read book Essays on Political Economy written by Frédéric Bastiat and published by . This book was released on 1853 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economics in Action: Three Essays written by and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Su Wang (Ph. D.)
Publisher :
ISBN 13 :
Total Pages : 152 pages
Book Rating : 4.:/5 (1 download)
Download or read book Three Essays on International Trade written by Su Wang (Ph. D.) and published by . This book was released on 2017 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis consists of three essays about international trade and wage inequality. Essay I characterizes optimal trade and FDI policies in a model with monopolistic competition and firm-level heterogeneity similar to Helpman et al. (2004). I find that both the optimal import tariffs and the optimal FDI subsidies discriminate against the more profitable foreign firms. This is because of the existence of a wedge between the private incentives of exporting and FDI firms, and the incentive of the representative agent. Essay II develops an elementary theory of global supply chains. It considers a world economy with an arbitrary number of countries, one factor of production, a continuum of intermediate goods, and one final good. Production of the final good is sequential and subject to mistakes. In the unique free trade equilibrium, countries with lower probabilities of making mistakes at all stages specialize in later stages of production. Using this simple theoretical framework, it offers a first look at how vertical specialization shapes the interdependence of nations. Essay III proposes a model that has as ingredients heterogeneity of workers and firms, complementarity between occupations within each firm and complementarity between workers and firms/occupations. The competitive equilibrium features positive assortative matching and leads to both within- and between- firm wage variations. Comparative static results are then derived to generate new insights about changes in these components of wage inequality.
Author : Xuejuan Su
Publisher :
ISBN 13 :
Total Pages : 258 pages
Book Rating : 4.3/5 ( download)
Download or read book Three Essays on the Economics of Education written by Xuejuan Su and published by . This book was released on 2004 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Rizwana Alamgir-Arif
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (871 download)
Download or read book Three Essays on Human Capital, Child Care and Growth, and on Mobility written by Rizwana Alamgir-Arif and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis contributes to the fields of Public Economics and Development Economics by studying human capital formation under three scenarios. Each scenario is represented in an individual paper between Chapters 2 to 4 of this thesis. Chapter 2 examines the effect of child care financing, through human capital formation, on growth and welfare. There is an extensive literature on the benefits of child care affordability on labour market participation. The overall inference that can be drawn is that the availability and affordability of appropriate child care may enhance parental time spent outside the home in furthering their economic opportunities. In another front, the endogenous growth literature exemplifies the merits of subsidizing human capital in generating growth. Again, other contributions demonstrate the negative implications of taxes on the returns from human capital on long run growth and welfare. This paper assesses the long run welfare implications of child care subsidies financed by proportional income taxes when human capital serves as the engine of growth. More specifically, using an overlapping-generations framework (OLG) with endogenous labour choice, we study the implications of a distortionary wage income tax on growth and welfare. When the revenues from proportional income taxes are channelled towards improving economic opportunities for both work and schooling investments in the form of child care subsidies, long run physical and human capital stock may increase. A higher level of growth may ensue leading to higher welfare. Chapter 3 answers the question of how child care subsidization works in the interest of skill formation, and specifically, whether child care subsidization policies can work to the effect of human capital subsidies. Ample studies have highlighted the significance of early childhood learning through child care in determining the child's longer-term outcomes. The general conclusion has been that the quality of life for a child, higher earnings during later life, as well as the contributions the child makes to society as an adult can be traced back to exposures during the first few years of life. Early childhood education obtained through child care has been found to play a pivotal role in the human capital base amongst children that can benefit them in the long run. Based on this premise, the paper develops a simple Overlapping Generations Model (OLG) to find out the implications of early learning on future investments in human capital. It is shown that higher costs of child care will reduce skill investments of parents. Also, for some positive child care cost, higher human capital obtained through early childhood education can induce further skill investments amongst individuals with a higher willingness to substitute consumption intertemporally. Finally, intervention that can internalize the intra-generational human capital externalities arising from parental time spent outside the home - for which care/early learning is required to be purchased for the child - can unambiguously lead to higher skill investments by all individuals. Chapter 3 therefore proposes policy intervention, such as child care subsidization, as the effect of such will be akin to a human capital subsidy. The objective of Chapter 4 is to understand the implications of inter-regional mobility on higher educational investments of individuals and to study in detail the impact of mobility on government spending for education under two particular scenarios --one in which human capital externalities are non-localized and spill over to other regions (e.g. in the form of R & D), and another in which the externalities are localized and remain within the region. It is shown that mobility enhances private investments in education, and all else equal, welfare should be higher with increased migration. The impacts on government educational expenditures are studied and some policy implications are drawn. In general, with non-localized externalities, all public expenditures decline under full-migration. Finally under localized externalities, the paper finds that governments will increase their financing of education to increasingly mobile individuals only when agglomeration benefits outweigh congestion costs from increases in regional population.
