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Author : Isaac Ehrlich
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (837 download)
Download or read book The Role of Human Capital in Imperfectly Informed International Financial Markets written by Isaac Ehrlich and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jong Kook Shin
Publisher :
ISBN 13 :
Total Pages : 91 pages
Book Rating : 4.:/5 (71 download)
Download or read book The Role of Human Capital in Imperfectly Informed Asset Markets written by Jong Kook Shin and published by . This book was released on 2010 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although information asymmetry is gaining ground as the single most plausible explanation of home bias, little testable research has been done to analyze how such an information differential is formed and sustained in an efficient asset market. By extending the testable model of endogenous information pioneered by Ehrlich et al. (2008) to an economy with multiple risky assets, I develop new predictions concerning the diversity in "home bias" or portfolio concentration across different individuals and countries as a function of observable determinants of endogenous information asymmetry such as years of schooling and the wage rate or opportunity cost of asset management. Using international samples covering 23 countries over the peirod 2001 ~ 2007, I test theoretical predictions of the model and find strong supportive evidence. Then I provide an overview of the implications of this framework not empirically exploited in this contribution. They include a novel account concerning "flight-to-familiarity", volatility contagion and price disconnect. Finally, I suggest a strategy to estimate a measure that can rank-order the price information content (PIC) for future empirical work.
Author : Isaac Ehrlich
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (119 download)
Download or read book Private Information, Human Capital, and Optimal "Home Bias" in Financial Markets written by Isaac Ehrlich and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: By allowing for imperfectly informed markets and the role of private information, we offer new insights about observed deviations of portfolio concentrations in domestic relative to foreign risky assets, or "home bias", from what standard finance models predict. Our model ascribes the "bias" to endogenous information acquisition bolstered by investors' human capital. We develop discriminating hypotheses about the influence of "specific" and "general" human capital endowments and direct and opportunity costs of managing risky assets in determining whether to hold these assets, and how the assets' portfolio shares vary across investors and financial markets. These hypotheses are supported by numerical and econometric analyses of panel data from the US over 1992-2007, and 23 international financial markets over 2001-2007. The results indicate the existence of differences across countries in the degree to which home asset prices are "information-revealing", which may be relevant for fully understanding the global financial crisis of 2007-09.
Author : United Nations. Economic Commission for Europe. Task Force on Measuring Human Capital
Publisher :
ISBN 13 : 9789210598668
Total Pages : 0 pages
Book Rating : 4.5/5 (986 download)
Download or read book Guide on Measuring Human Capital written by United Nations. Economic Commission for Europe. Task Force on Measuring Human Capital and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction -- Concepts and definitions -- Methodological issues -- Implementation and measurement issues -- Satellite account for education and training -- Human capital satellite account: an example for Canada -- Human capital country studies -- Recommendations and further work -- References
Author : Centre for Educational Research and Innovation
Publisher : Org. for Economic Cooperation & Development
ISBN 13 :
Total Pages : 128 pages
Book Rating : 4.F/5 ( download)
Download or read book Human Capital Investment written by Centre for Educational Research and Innovation and published by Org. for Economic Cooperation & Development. This book was released on 1998 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investment in human capital is to the fore of debate and analysis in OECD countries about how to promote economic prosperity, fuller employment, and social cohesion. Individuals, organisations and nations increasingly recognise that high levels of know
Author : Barbara Fraumeni
Publisher : Academic Press
ISBN 13 : 0128190582
Total Pages : 224 pages
Book Rating : 4.1/5 (281 download)
Download or read book Measuring Human Capital written by Barbara Fraumeni and published by Academic Press. This book was released on 2021-07-12 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Measuring Human Capital addresses a country's most important resource: its own people. Bettering human capital benefits individuals and their country and leads to improved sustainability for the future. For many years economists only used Gross Domestic Product (GDP), now acknowledged to be inadequate without supplemental measures, to gauge a country's overall value. There is now a recognition that many variables contribute to a country's worth, which make accurate measurement difficult. Looking beyond GDP by focusing on human capital, researchers, policymakers, government officials, and students can understand what elements impact human capital and how they might improve it in order to increase economic growth and well-being. - Addresses six major measures of human capital, covering at least 130 countries - Describes both monetary and index estimates - Includes two monetary measures by the World Bank and the Inclusive Wealth Report by UNEP and the Urban Institute of Kyushu University - Includes four index measures by the Institute for Health Metrics and Evaluation of the University of Washington, United Nations Development Programme, World Economic Forum, and World Bank - Includes two country chapters, one on China and the other on the United States
Author : Harriet Duleep
Publisher : Springer Nature
ISBN 13 : 3030470830
Total Pages : 270 pages
Book Rating : 4.0/5 (34 download)
Download or read book Human Capital Investment written by Harriet Duleep and published by Springer Nature. This book was released on 2021-04-28 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1965, a family-reunification policy for admitting immigrants to the United States replaced a system that chose immigrants based on their national origin. With this change, a 40-year hiatus in Asian immigration ended. Today, over three-quarters of US immigrants originate from Asia and Latin America. Two issues that dominate discussions of US immigration policy are the progress of post-reform immigrants and their contributions to the US economy. This book focuses on the earnings and human capital investment of Asian immigrants to the US after 1965. In addition, it provides a primer on studying immigrant economic assimilation, by explaining economists’ methodology to measure immigrant earnings growth and the challenges with this approach. The book also illustrates strategies to more fully use census data such as how to measure family income and how to use “panel data” that is embedded in the census. The book is a historical study as well as an extremely timely work from a policy angle. The passage of the 1965 Immigration and Nationality Act set the United States apart among economically developed countries due to the weight given to family unification. Based on analyses by economists—which suggest that the quality of immigrants to the US fell after the 1965 law—policymakers have called for fundamental changes in the US system to align it with the immigration systems of other countries. This book offers an alternative view point by proposing a richer model that incorporates investments in human capital by immigrants and their families. It challenges the conventional model in three ways: First, it views the decline in immigrants’ entry earnings after 1965 as due to investment in human capital, not to permanently lower “quality.” Second, it adds human capital investment and earnings growth after entry to the model. And finally, by taking investments by family members into account, it challenges the policy recommendation that immigrants should be selected for their occupational qualifications rather than family connections.
Author : Roy E. Bailey
Publisher : Cambridge University Press
ISBN 13 : 9780521848275
Total Pages : 706 pages
Book Rating : 4.8/5 (482 download)
Download or read book The Economics of Financial Markets written by Roy E. Bailey and published by Cambridge University Press. This book was released on 2005-05-26 with total page 706 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economics of Financial Markets presents a concise overview of capital markets, suitable for advanced undergraduates and for beginning graduate students in financial economics. Following a brief overview of financial markets - their microstructure and the randomness of stock market prices - this textbook explores how the economics of uncertainty can be applied to financial decision-making. The mean-variance model of portfolio selection is discussed, with analysis extended to the capital asset pricing model (CAPM). Arbitrage plays a pivotal role in finance and is studied in a variety of contexts, including the APT model of asset prices. Methods for the empirical evaluation of CAPM and APT are also discussed, together with the volatility of asset prices, the intertemporal CAPM and the equity premium puzzle. An analysis of bond contracts leads into an assessment of theories of the term structure of interest rates. Finally, financial derivatives are explored, focusing on futures and options contracts.
Author :
Publisher :
ISBN 13 :
Total Pages : 580 pages
Book Rating : 4.3/5 (91 download)
Download or read book Dissertation Abstracts International written by and published by . This book was released on 2004 with total page 580 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstracts of dissertations available on microfilm or as xerographic reproductions.
Author : Joel Spring
Publisher : Routledge
ISBN 13 : 1317548302
Total Pages : 258 pages
Book Rating : 4.3/5 (175 download)
Download or read book Economization of Education written by Joel Spring and published by Routledge. This book was released on 2015-03-27 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this timely, cogent analysis of trends and powerful forces shaping global educational policy today, Joel Spring focuses on how economization is making economic growth and increased productivity the main goals of schools, and the ways these goals are achieved—including measuring educational policies by their costs and economic benefits, shaping family life to ensure productive workers and high-achieving students, introducing entrepreneurship education into curricula from preschool through higher education, and increasing the involvement of economists in educational policy analysis. Close attention is given to the Organization for Economic Cooperation and Development (OECD), the World Bank, the World Economic Forum, and multinational corporations, which, as advocates of economization, want schools to focus on teaching hard and soft skills needed by the global labor market. Economization raises questions about the effects of economically driven agendas for schools: Will education policies advocated by global organizations and multinational businesses corporatize and standardize human personalities and families? What type of global worker is being sought by global organizations and multinational corporations? What education programs are supported to educate the ideal global worker? What is the ideal family life for economic growth and development? Detailing and analyzing the politics and motivations driving economization, the book concludes with an assessment of the impacts of the confluence of business interests, economic theories, governments, and educators.
Author : N. A. Barr
Publisher : Oxford University Press
ISBN 13 : 0199246599
Total Pages : 316 pages
Book Rating : 4.1/5 (992 download)
Download or read book The Welfare State as Piggy Bank written by N. A. Barr and published by Oxford University Press. This book was released on 2001 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: The central discussion is that the welfare state exists for additional reasons to poverty relief. If all poverty and social exclusion could be eradicated, people would still need to insure themselves and to redistribute over the life cycle. Barr argues the welfare state is here to stay. He also explores ways in which the welfare state can and will adapt to economic and social change and includes solutions.
Author : Kimberly K. Merriman
Publisher : Springer
ISBN 13 : 3319589342
Total Pages : 104 pages
Book Rating : 4.3/5 (195 download)
Download or read book Valuation of Human Capital written by Kimberly K. Merriman and published by Springer. This book was released on 2017-07-18 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the gap between the espoused importance of organizational human capital and how it is actually reported and assessed. It also discusses the current and potential uses of human capital measurement and a way for HR to position itself among other business functions such as finance, accounting, and operations. Readers will finish with an understanding of approaches for the valuation of a firm’s human capital, practical applications for the economic analysis of human capital, and gaps that are ripe for research and practice to address.
Author : Michael Jacobs
Publisher : John Wiley & Sons
ISBN 13 : 1119311632
Total Pages : 224 pages
Book Rating : 4.1/5 (193 download)
Download or read book Rethinking Capitalism written by Michael Jacobs and published by John Wiley & Sons. This book was released on 2016-07-21 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Thought provoking and fresh - this book challenges how we think about economics.” Gillian Tett, Financial Times For further information about recent publicity events and media coverage for Rethinking Capitalism please visit http://marianamazzucato.com/rethinking-capitalism/ Western capitalism is in crisis. For decades investment has been falling, living standards have stagnated or declined, and inequality has risen dramatically. Economic policy has neither reformed the financial system nor restored stable growth. Climate change meanwhile poses increasing risks to future prosperity. In this book some of the world’s leading economists propose new ways of thinking about capitalism. In clear and compelling prose, each chapter shows how today’s deep economic problems reflect the inadequacies of orthodox economic theory and the failure of policies informed by it. The chapters examine a range of contemporary economic issues, including fiscal and monetary policy, financial markets and business behaviour, inequality and privatisation, and innovation and environmental change. The authors set out alternative economic approaches which better explain how capitalism works, why it often doesn’t, and how it can be made more innovative, inclusive and sustainable. Outlining a series of far-reaching policy reforms, Rethinking Capitalism offers a powerful challenge to mainstream economic debate, and new ideas to transform it.
Author : Daniele Checchi
Publisher : Cambridge University Press
ISBN 13 : 1139449370
Total Pages : 5 pages
Book Rating : 4.1/5 (394 download)
Download or read book The Economics of Education written by Daniele Checchi and published by Cambridge University Press. This book was released on 2006-03-23 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: In an important contribution to educational policy, Daniele Checchi offers an economic perspective on the demand and supply of education. He explores the reasons why, beyond a certain point, investment in education has not resulted in reductions in social inequalities. Starting with the seminal work of Gary Becker, Checchi provides an extensive survey of the literature on human capital and social capital formation. He draws on individual data on intergenerational transmission of income and education for the USA, Germany and Italy, as well as aggregate data on income and educational inequality for a much wider range of countries. Checchi explores whether resources spent in education are effective in raising students' achievement, as well as analysing alternative ways of financing education. The Economics of Education thus provides the analytical tools necessary to understand the complex relationships between current income inequality, access to education and future inequality.
Author : Ross Levine
Publisher :
ISBN 13 :
Total Pages : 130 pages
Book Rating : 4.:/5 (318 download)
Download or read book Finance and Growth written by Ross Levine and published by . This book was released on 2004 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper reviews, appraises, and critiques theoretical and empirical research on the connections between the operation of the financial system and economic growth. While subject to ample qualifications and countervailing views, the preponderance of evidence suggests that both financial intermediaries and markets matter for growth and that reverse causality alone is not driving this relationship. Furthermore, theory and evidence imply that better developed financial systems ease external financing constraints facing firms, which illuminates one mechanism through which financial development influences economic growth. The paper highlights many areas needing additional research"--NBER website
Author : World Bank
Publisher : World Bank Publications
ISBN 13 : 1464816662
Total Pages : 339 pages
Book Rating : 4.4/5 (648 download)
Download or read book Global Economic Prospects, June 2021 written by World Bank and published by World Bank Publications. This book was released on 2021-08-03 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.
Author : Mr.Yan Carriere-Swallow
Publisher : International Monetary Fund
ISBN 13 : 1513514814
Total Pages : 50 pages
Book Rating : 4.5/5 (135 download)
Download or read book The Economics and Implications of Data written by Mr.Yan Carriere-Swallow and published by International Monetary Fund. This book was released on 2019-09-23 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This SPR Departmental Paper will provide policymakers with a framework for studying changes to national data policy frameworks.
