The Impact of Parents' Years since Migration on Children's Academic Achievement

In this paper, we employ register data for eight cohorts of second-generation immigrant pupils to identify the impact of each parent's years since migration on their children's school achievements. We exploit local variation in years since migration and within-family variation. We find evidence of a positive impact of parents' years since migration on children's academic achievement. Mothers' years of residence tend to be more important for Danish, while fathers' years of residence tend to be more important for math. The effects vary by gender, and family-specific effects influence girls' and boys' educational attainment differently.intergenerational mobility, years since migration, scholastic achievement, immigrant children, second generation, fixed effects

Do More Economists Hold Stocks?

A unique data set enables us to test the hypothesis that more economists than otherwise identical investors hold stocks due to informational advantages. We confirm that economists have a significantly higher probability of participating in the stock market than investors with any other education, even when controlling for several background characteristics. We make use of a large register-based panel data set containing detailed information on the educational attainments and various financial and socioeconomic variables. We model the stock market participation decision by the probit model. The results are shown to be highly robust to various assumptions, including unobserved individual heterogeneityInvestor education; Portfolio choice; Stock market participation

Faktorer af betydning for kvalitet i specialskoler: En survey‐kortlægning blandt specialskoler og PPR

Børne‐ og undervisningsministeriet indgik i december 2012 en aftale om i et forskningsmæssigt samarbejde mellem Aarhus Universitet (Institut for Uddannelse og Pædagogik/forskningsprogrammet SILO) og SFI at gennemføre et projekt, der har til formål at etablere viden om kvalitet på specialskolerne og udvikle kvalitet på skolerne. De enkelte dele af projektet er beskrevet i fem rapporter og tre former for kvalitetsudviklingsværktøjer. De fem rapporter er alle udgivet af Institut for Uddannelse og Pædagogik på Aarhus Universitet

Specialskoleelevers resultater ved skolegangens afslutning og fem år senere

Børne‐ og undervisningsministeriet indgik i december 2012 en aftale om i et forskningsmæssigt samarbejde mellem Aarhus Universitet (Institut for Uddannelse og Pædagogik/forskningsprogrammet SILO) og SFI at gennemføre et projekt, der har til formål at etablere viden om kvalitet på specialskolerne og udvikle kvalitet på skolerne. De enkelte dele af projektet er beskrevet i fem rapporter og tre former for webbaserede kvalitetsudviklingsværktøjer. De fem rapporter er alle udgivet af Institut for Uddannelse og Pædagogik på Aarhus Universitet, hvor de også kan downloades gratis

Dividend predictability around the world

© Michael G. Foster School of Business, University of Washington 2015. We show that dividend-growth predictability by the dividend yield is the rule rather than the exception in global equity markets. Dividend predictability is weaker, however, in large and developed markets where dividends are smoothed more, the typical firm is large, and volatility is lower. Our findings suggest that the apparent lack of dividend predictability in the United States does not uniformly extend to other countries. Rather, cross-country patterns in dividend predictability are driven by differences in firm characteristics and the extent to which dividends are smoothed

Higher-order beliefs among professional stock market forecasters : some first empirical tests

A sizeable literature reports that financial market analysts and forecasters herd for reputational reasons. Using new data from a large survey of professional forecasters' expectations about stock market movements, we find strong evidence that the expected average of all forecasters' forecasts (the expected consensus forecast) influences an individual forecaster's own forecast. This looks like herding. In our survey, forecasters do not herd for reputational reasons, however. Instead of herding, we suggest that forecasters form higher-order expectations in the spirit of Keynes (1936). We find that young forecasters and portfolio managers, who in previous studies have been reported to be those who in particular herd, rely more on the expected consensus forecasts than other forecasters. Given that forecasters have no incentive to herd in our study, we conclude that our results indicate that the incorporation of the expected consensus forecast into individual forecasts is most likely due to higher-order expectations

Higher-order beliefs among professional stock market forecasters: some first empirical tests

A sizeable literature reports that financial market analysts and forecasters herd for reputational reasons. Using new data from a large survey of professional forecasters' expectations about stock market movements, we find strong evidence that the expected average of all forecasters' forecasts (the expected consensus forecast) influences an individual forecaster's own forecast. This looks like herding. In our survey, forecasters do not herd for reputational reasons, however. Instead of herding, we suggest that forecasters form higher-order expectations in the spirit of Keynes (1936). We find that young forecasters and portfolio managers, who in previous studies have been reported to be those who in particular herd, rely more on the expected consensus forecasts than other forecasters. Given that forecasters have no incentive to herd in our study, we conclude that our results indicate that the incorporation of the expected consensus forecast into individual forecasts is most likely due to higher-order expectations. --Higher-order expectations,stock market forecasts,forecaster heterogeneity