10,387 research outputs found

    Measuring the consumption value of higher education

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    The consumption value of education is an important, but rather ignored factor behind the individual's educational choice. This paper suggests a method for measuring the consumption value of education in a compensating differentials framework when the ability bias is corrected for. As an example, the willingness to pay for the consumption value of attending teacher's college during the 1960's is estimated on unique Norwegian panel data. The ex-ante price of the consumption value of teacher's college is estimated to be 38 % of the present value of the individual's potential lifetime income. The ex-post price of this consumption value is for the same individuals estimated to be about 46 % of the present value of the potential lifetime incomeConsumption value of education, compensating wage differentials, willingness to pay.

    Marginal tax rates and income inequality in a life-cycle model

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    A presentation of computational counterfactual experiments that examine the quantitative impact of marginal tax rates on the distribution of income.Income tax ; Income distribution

    Teacher Sorting, Teacher Quality, and Student Composition: Evidence from Norway

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    Using panel data for Norwegian schools, we establish a two-equation supply and demand model for teachers with approved education. Taking into account nationally determined teacher pay and a strict teacher appointment rule, the data enable us to separately estimate supply and demand functions for certified teachers. The results clearly indicate that the student body composition, and in particular students belonging to ethnic minorities, influences both teacher supply and teacher demand. The implied negative relationship between excess demand for certified teachers and the share of minority students is likely to be important for teacher quality.Teacher sorting; Teacher quality; School choice

    Non-Market Valuation of Open Space and Other Amenities Associated with Retention of Lands in Agricultural Use

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    The most productive farmland in southcentral Alaska is currently under intense development pressure due to rapid population increases and consequential increases in demand for suburban housing. This study utilizes a contingent valuation iterative bidding game to estimate the willingness of Matanuska-Susitna Borough residents to pay to preserve open space and other historical/environmental amenities associated with farming activities. Determinants of consumer behavior are addressed as well as total benefits and costs of various posited development scenarios. This information may be useful to policymakers assessing actions designed to purchase development rights from Matanuska-Susitna farmers

    Harnessing machine learning for fiber-induced nonlinearity mitigation in long-haul coherent optical OFDM

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    © 2018 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (http://creativecommons.org/licenses/by/4.0/).Coherent optical orthogonal frequency division multiplexing (CO-OFDM) has attracted a lot of interest in optical fiber communications due to its simplified digital signal processing (DSP) units, high spectral-efficiency, flexibility, and tolerance to linear impairments. However, CO-OFDM’s high peak-to-average power ratio imposes high vulnerability to fiber-induced non-linearities. DSP-based machine learning has been considered as a promising approach for fiber non-linearity compensation without sacrificing computational complexity. In this paper, we review the existing machine learning approaches for CO-OFDM in a common framework and review the progress in this area with a focus on practical aspects and comparison with benchmark DSP solutions.Peer reviewe

    The Impact of Collective Bargaining: Illusion or Reality?

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    This paper reviews a significant body of evidence regarding the impact of trade unionism on economic performance and seeks to evaluate antithetical views regarding whether estimated differences between union and nonunion workers and firms represent: illusions created by poor experiments, real effects explicable solely in price-theoretic terms, or real effects which reflect the non wage-related dimensions of trade unions. The review yields conclusions on both the substantive questions at hand and the methodologies which have been used to address their validity. With respect to the illusion/reality debate, the preponderance of extant evidence indicates that union effects on a wide variety of economic variables estimated with cross-sectional data are real. Moreover, since the effects of unions on nonwage outcomes generally come from models which hold fixed the level of wages and variables affected by wages, the evidence supports the view that unions do much more than simply raise wages as an economic monopolist. While, in this study, we do not examine interpretations of these nonwage effects, the effects represent an empirical foundation for the "institutional" view of unionism, which is described in Section I. With respect to methods for evaluating the quality of standard cross-sectional experiments, some techniques appear more useful than others. In particular, we find that sensitivity analyses of single-equation results and longitudinal experiments provide valuable checks on cross-sectional findings while multiple-equations approaches produce results which are much too unstable to help resolve the questions of concern.

    Mutually-Antagonistic Interactions in Baseball Networks

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    We formulate the head-to-head matchups between Major League Baseball pitchers and batters from 1954 to 2008 as a bipartite network of mutually-antagonistic interactions. We consider both the full network and single-season networks, which exhibit interesting structural changes over time. We find interesting structure in the network and examine their sensitivity to baseball's rule changes. We then study a biased random walk on the matchup networks as a simple and transparent way to compare the performance of players who competed under different conditions and to include information about which particular players a given player has faced. We find that a player's position in the network does not correlate with his success in the random walker ranking but instead has a substantial effect on its sensitivity to changes in his own aggregate performance.Comment: A few clarifications added 14 pages, 2 tables, 6 figures. Submitte

    Are small firms really sub-optimal?: compensating factor differentials in small Dutch manufacturing firms

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    Onderzoek naar de vraag waarom er zoveel kleine bedrijven kunnen bestaan, ondanks de heersende opvatting dat dit bedrijven zijn die op sub-optimale schaal presteren. Kleine bedrijven blijken productiefactoren verschillend te belonen en toe te passen ten opzichte van grote bedrijven, en langs deze weg bedrijfsgroottenadelen te compenseren. Uit een steekproef onder 7.000 Nederlandse industriële bedrijven blijkt dat deze strategie van compenserende factordifferentialen toegepast wordt in Europa. Enerzijds lijkt deze strategie te leiden tot een nettoverlies voor de economie. Anderzijds suggereren de positieve relaties tussen bedrijfsleeftijd en werknemerscompensatie, en bedrijfsleeftijd en productiviteit dat er minstens een tendens is dat het inefficiënte bedrijf van vandaag het efficiënte bedrijf van de toekomst kan worden.

    Returns to education and to experience within the EU: are there differences between wage earners and the self-employed?

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    This paper investigates the returns to education and to experience within the 15 pre-enlargement EU countries, distinguishing between wage earners and the self-employed. These returns are estimated by using a comparable data set coming from the European Community Household Panel during the period 1994-2000. To correct for the ability bias and recover the education coefficients, an Efficient Generalized Instrumental Variable technique is applied. Although the results differ across countries, two common features can be observed. First, the earnings-experience profiles indicate certain traits of competitiveness in the labor markets and, secondly, the returns to education show that signaling plays a relevant role in the earnings of workers.Returns to education, wage earners, self-employed, panel data, European Union
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