Essays On Income Shocks And Human Capital

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Essays On Income Shocks And Human Capital

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Author : Sidra Rehman
language : en
Publisher:
Release Date : 2019

Essays On Income Shocks And Human Capital written by Sidra Rehman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.

Therefore, if developing economies want to improve their growth prospects, they need to invest in education and provide buffers so that income shocks do not hinder the accumulation of human capital.

Essays On Public And Private Insurance Of Income Shocks

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Author :
language : en
Publisher:
Release Date : 2014

Essays On Public And Private Insurance Of Income Shocks written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Households categories.

This thesis explores issues related to public and private insurance of income shocks, and the importance of human capital accumulation. The first chapter argues that the intertemporal elasticity of substitution of labor supply is a state-dependent variable which strongly depends on the return to human capital accumulation. Estimating a life cycle model I find that the average i.e.s. is low (0.35), and comparable with micro estimates, even in the presence of human capital. However, the average i.e.s. hides important heterogeneity: for college graduates the i.e.s. more than doubles over the life cycle, whereas it increases by about 58 percent for workers without a college degree. The second chapter argues that heterogeneous returns to human capital accumulation affects the degree to which search effort of unemployed deviates from the socially optimal level, and the reason behind the deviation. I find that (i) the main social costs associated with unemployment insurance are not due to moral hazard problems, but are due to distortionary effects of labor income taxes needed to finance the insurance. (ii) The magnitude of the moral hazard problem and the tax distortion problem differs substantially by age and education. And, (iii) the degree of tax progressiveness and benefit regressiveness has important effects on the deviation of search effort. The third chapter studies the relation between co-movement of income shocks and precautionary asset holdings. If households perceive spousal labor supply as an insurance mechanism, it is evident that this mechanism should work better the lower the co-movement of income shocks. We find that (i) households in which both spouses have the same education level or work in the same industry have a higher correlation of income shocks compared to couples with different education/industry. And, (ii) households who face larger co-movements of income shocks hold larger precautionary buffers.

Essays On Human Capital Accumulation And Inequality

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Author : Claudia Trentini
language : en
Publisher:
Release Date : 2009

Essays On Human Capital Accumulation And Inequality written by Claudia Trentini and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Economic development categories.

Essays On Human Capital And Technology Shocks

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Author : Neville Francis
language : en
Publisher:
Release Date : 2001

Essays On Human Capital And Technology Shocks written by Neville Francis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Displaced workers categories.

Essays On Growth Stabilization And The Business Cycle

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Author : Daehaeng Kim
language : en
Publisher:
Release Date : 2005

Essays On Growth Stabilization And The Business Cycle written by Daehaeng Kim and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.

Three Essays On Human Capital

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Author : Yibo Zhang
language : en
Publisher:
Release Date : 2010

Three Essays On Human Capital written by Yibo Zhang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Electronic dissertations categories.

First Chapter: Endogenous Skill Acquisition and Taxation (with James Bullard) This paper studies dynamic Mirrleesian-style taxation in a lifecycle economy. In contrast to the recent Mirrleesian dynamic optimal taxation literature, in which individual skills are subject to shocks but are otherwise fixed over time, agents in our model make a conscious decision about human capital acquisition (as well as when to retire) given their own aptitude for learning. This aptitude is private information. Human capital accumulation is the engine of growth in our model. We find that there will be no human capital accumulation, and hence no growth, in the economy when there is no taxation of any sort. We suggest a taxation scheme which will induce human capital accumulation and hence economic growth in this stylized environment. The key feature of the tax scheme is to provide incentives for human capital accumulation for those that have high aptitude by credibly transferring resources to them later in life, after they have revealed their aptitude. We show that only a moderate transfer is called for to induce growth in our calibrated economy. We also find that the timing of the tax-transfer may or may not matter for the income distribution depending on the exact form in which the taxation is levied (labor or capital income tax), but in general the tax-transfer scheme is highly non-monotonic. Second Chapter: Brain Drain and Brain Drain Reversal Departing from the previous theoretical studies on Brain Drain, which mainly focus on the welfare impact of the migration of skilled workers on the home country and on the foreign country, I build a theoretical model to study a somewhat different twin phenomena "brain drain" and "brain drain reversal". The brain drain and brain drain reversal of interest here is the trend that people from developing countries (most prominently from East Asian countries) who have studied in developed countries such as the U.S. go back to their home country sooner or later for good. I study these two phenomena in a two-period lifecycle economy where home country agents choose not only education location but also work location possibly multiple times in their lifetime. The model captures the crucial factors in agents' location choice decision including work-place premium, education-location premium, market opportunity gap (between home and foreign countries) as well as adaptability of skills. I solve the model analytically and conduct comparative statics analysis followed by calibration exercises based on data from Mainland China (1985-2006). Third Chapter: Human Capital Intensity, Education and Growth (with Jiaren Pang and Haibin Wu) Using the methodology of Rajan and Zingales (1998), we revisit the issue of human capital and economic growth by examining whether industries with higher human capital intensity tend to grow faster in countries with higher human capital stock. Not only are we able to avoid the many problems that have plagued the conventional cross-country growth regressions but the results are no longer mixed. We do not find that education improvement has a differential effect on industries with different human capital intensities. However, we have discovered that in countries with higher education levels and quality, high human capital intensity industries grow faster than low human capital intensity ones.

Essays In Economics Using Military Induced Variation To Study Human Capital Development Excess Sensitivity To Income And Labor Market Decisions

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Author : Carl Jonathan Wojtaszek
language : en
Publisher:
Release Date : 2015

Essays In Economics Using Military Induced Variation To Study Human Capital Development Excess Sensitivity To Income And Labor Market Decisions written by Carl Jonathan Wojtaszek and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Human capital categories.

Three Essays Examining Early Life Shocks That Affect Human Capital Production

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Author : Uche Eseosa Ekhator
language : en
Publisher:
Release Date : 2018

Three Essays Examining Early Life Shocks That Affect Human Capital Production written by Uche Eseosa Ekhator and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Economics categories.

This dissertation comprises three essays. The first examines the effect of health insurance on child health and healthcare utilization in Nigeria. It uses the implementation and expansion of the National Health Insurance Scheme (NHIS) to introduce an exogenous variation in health insurance eligibility, a natural experiment that fits a difference-in-difference analysis. Findings from this essay suggest that health insurance decreases the prevalence of diarrhea and increases birthweight among children. It also increases the probability that children receive polio and diphtheria vaccines and increases the probability that children from middle-income households receive medical treatment for diarrhea. The second essay examines the effect of the Boko Haram Insurgency (BHI) on height-for-age z-scores, weight-for-age z-scores, weight-for-height z-scores, stunting, and wasting. It compares outcomes in Boko Haram high-active and low-active areas. A difference-in-difference analysis identifies the extensive margin effects while a regression analysis identifies the intensive margin effects. The essay uses data from the Nigerian Health and Demographic Survey and the Global Terrorism Database. The results suggest that the BHI reduces weight-for-age and weight-for-height z-scores and increases the probability of wasting. The evidence suggests that policies targeting healthcare services may mitigate the long-term impacts of the BHI on human capital production. Finally, the third essay examines the effect of neighborhood gangs on youth criminal behavior in the United States. It uses data from the National Longitudinal Survey of Youth 1997 (NLSY97) and examines the effect of neighborhood gangs on youth delinquency and substance use. The essay finds that neighborhood gangs positively affect incidences of substance use by youths after accounting for individual heterogeneity. This finding suggests that policies providing early guidance to youths about the effects of neighborhood gangs should be encouraged. Youths exposed to neighborhood gangs should be sensitized on the dangers of substance use.

Essays On The Origin Of Human Capital Crime And Income Inequality

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Author :
language : en
Publisher:
Release Date : 2015

Essays On The Origin Of Human Capital Crime And Income Inequality written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Social sciences categories.

Non Tradeable Human Capital And Household Asset Allocation

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Author :
language : en
Publisher:
Release Date : 2008

Non Tradeable Human Capital And Household Asset Allocation written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.

This thesis is comprised of two essays that investigate household consumption and portfolio choices in dynamic life cycle frameworks. In the first essay, I explain that stock market participation and stockholding are increasing in the level of education and financial wealth without relying on commonly used assumptions about differences in the cost of processing financial information among households. The key aspects of the model are recursive preferences, education attainment and stock market participation. Households with low risk aversion and high elasticity of intertemporal substitution (EIS) are more likely to exercise their education option, accumulate large wealth, invest in stock markets and invest heavily in stocks. These findings are consistent with three separate, but related, strands of the literature on i) household asset holding, ii) utility preferences based on household level financial data, and iii) utility preferences and education attainment. I find that, consistent with these studies, better educated households accumulate more financial wealth, hold a larger fraction of wealth in equity, have a higher EIS and are less risk averse than their less educated counterparts. In the second essay, I investigate the fact that the fraction of financial wealth invested in equity is increasing in financial wealth in the cross section of households, a known fact that contradicts existing theories in the literature. I show that the contemporaneous positive correlation between human capital and financial wealth values is increasing in the persistence of labor income shocks. While human capital and financial wealth independently have opposing direct effects on equity shares, human capital effects dominate if labor income shocks are highly persistent, generating increasing equity shares in financial wealth. Both a simple model and a realistically calibrated life cycle model of consumption and portfolio choice are shown to generate the results. The predictions are s.