Earnings Differences Between Transfer and Non-transfer Students

Using data on three cohorts of Swedish university entrants, this study examines whether earnings vary between students who change universities and students who do not change. The results show that earnings, during the first years after leaving the university, are significantly lower for students who change universities compared to students who do not change. Earnings differences decrease significantly over time and over the earnings distribution. The pattern in the estimates seems consistent with non-transfer students, who have higher earnings because of their relatively earlier labor market entry, and transfer students catching up because of their additional human-capital investments.College education; University choice; Earnings distribution

College choice and subsequent earnings. Results using Swedish sibling data

We use data on 19 000 siblings to investigate whether earnings vary among students who graduated from different colleges in Sweden. We run separate within-family regressions for whole siblings, sisters and brothers. The results show that earnings vary significantly among students who have graduated from different colleges. The cross-sectional estimates are up to twice the within-family estimates, showing that a regression estimator of college effects that does not adjust properly for family characteristics will overestimate the earnings premium of college type as well as the differences in earnings after graduation from different colleges. There is a significant relationship between college type and earnings, even when we control for area of residence after college education. The paper also examines the extent to which differences among colleges, in the proportion of teachers with doctoral degrees, explain the differences in earnings premium. We find that the earnings premium of college type becomes insignificant when adding the proportion of teachers with doctoral degrees to the analysis.-

Universities in the regional economy. Evidence from Swedish employer-employee linked data.

This study uses employer-employee linked data on all Swedish firms to analyze the impact of a college on the local economy. It focuses on colleges established in the 1970s and measures the effects 20 years after the establishment. The results show that there are no significant effects on survival rate of establishments, overall employment growth, overall growth of college graduates or employment growth in OECD defined high-tech industries. The results do not support the political motives behind the establishment and they reject the hypothesis of large regional spillovers from a college. But it is also possible that it takes more than 20 years before a university has a significant impact on regional development.college education; labour demand; regional employment

Changes during the 1990's in the location of Swedish Power Couples: Consequences and Explanations

Between 1990 and 1998 there was an increase by 4 percentage points of couples where both individuals were college educated, so-called power couples, in Swedish cities. During the same period, the shares of non-college educated couples and college educated singles increased by only 1 percentage point, respectively. The study argues that the observed trends are explained neither by the co-location hypothesis nor the marriage market hypothesis. Instead it seems that the differential household trends in city location coincide with differential trends in the city earnings premium. The city earnings premium has increased during the 1990´s particularly for college educated men and women in couples.City earnings premiums; power couples; location

The outcome of individual wage bargaining and the influence of managers' bargaining power: evidence from union data

We analyze unique data that identify whether individuals have participated in decentralized wage setting and whether they have negotiated their own wages. Wages are significantly higher for those who have been part of a formalized wage-setting process compared with non-participants, but only in the public sector. Employees who negotiate their own wages have higher wages than non-negotiators. Wages are also significantly higher for those who negotiate with a manager who has the power to set wages, compared with those who negotiate with a manager who has no power over wages. This concerns employees in the public and the private sectors. Quantile regression results reveal that the outcome of individual bargaining increases over the wage distribution. Percentile wage differences are significant only among workers who negotiate with a manager who has the power to set wages. Estimated wage differences between negotiators and non-negotiators are 4.6% on average, 5.6% in the 90th percentile, and 2.3% at the 10th percentile.wage bargaining; earnings equations; decentralized wage setting; quantile regression

Protease Activation and Inflammation in Acute Pancreatitis

Approximately 10—20 % of patients with acute pancreatitis (AP) develop a severe disease with high mortality and morbidity. Activation of pancreatic proteases, the inflammatory response and impaired pancreatic circulation are pathophysiological events that are important in order for the disease to develop. There is no specific treatment for severe AP, and no useful marker for predicting the severity of the disease upon admission to the hospital. In this thesis, markers of early pathophysiological events in AP are investigated, with emphasis on protease activation and inflammation. ProCarboxypeptidase B (proCAP) is a pancreatic proenzyme which, particularly in severe AP, is activated by trypsin thereby forming Carboxypeptidase B (aCAP ) and the activation peptide of proCarboxypeptidase B (CAPAP). An ELISA method for measurement of serum aCAP in patients with AP was developed, and aCAP was shown to inhibit fibrinolysis in vitro. This may contribute to formation of necrosis in AP. The prediction of severity and pathophysiology was studied in patients with mild (n=124) and severe (n=16) AP. Markers of protease activation (aCAP, CAPAP) and inflammation (Monocyte Chemoattractant protein-1 (MCP-1) and CRP) were found to be elevated within 24 hours in patients with severe AP. Protease activation decreased after 48 hours, yet inflammation persisted for a longer period of time. Markers of pancreatic leakage (proCAP) decreased with time without differences in patients with mild and severe AP. MCP-1 exhibited a good capacity at predicting severe AP upon hospital admission. CAPAP and aCAP may also be useful in predicting the degree of severity

Inkomstpremier av lärosäten för män och kvinnor som tog en examen under 1990-talet

Resultaten i den här studien visar att sambandet mellan lärosäte och inkomster ser mycket olika ut för kvinnor och män. För kvinnor är få lärosäten statistiskt säkerställda och resultaten är känsliga för olika modellspecifikationer. För män är flera lärosäten statistiskt säkerställda samtidigt som resultaten är stabila mellan olika specifikationer. Val av regional arbetsmarknad förklarar sambandet mellan lärosäte och inkomster för kvinnor men inte för män. Resultaten från kvantilregressioner tyder på att det finns lärosäten som har stor betydelse för inkomster i toppen av fördelningen för såväl män som kvinnor. Men det är olika lärosäten som är signifikanta för kvinnor och män. Dessutom har samma lärosäte sällan samma betydelse för kvinnors och mäns inkomster. De stora skillnaderna i resultaten mellan män och kvinnor kan vara ett tecken på att lärosätesestimaten på individnivå inte kan tolkas i termer av kvalitetsskillnader. Resultaten visar också att lärosätesestimat från mikrolöneekvationer inte lämpar sig för rangordning av lärosäten.samband lärosäten inkomster; inkomstpremier män kvinnor

On the Determinants of Underwriting in Swedish Equity Offerings

This thesis studies the choice of floatation method using a dataset based on 703 public offerings in Sweden between 2006 and 2017. A logistic model is utilised to study the determinants of underwriting, an ordinary least square model to estimate the direct cost of floatation, and the cost of underwriting is estimated using the Heckman sample selection model. The results are generally aligned with existing research and suggest that underwriters are providers of signalling in equity offerings, but are for our sample to be considered imperfect in providing certification. In contrast to existing beliefs of shareholder takeup, the likelihood of underwriting is increasing in expected shareholder takeup from subscription precommitments. Our explanation for this is bilateral. On the one side, we argue that risk averse firms can ensure successful offerings by using a combination of subscription precommitments and underwriting. On the other side, we reason that high subscription precommitments indicate concentrations of large shareholders. Accordingly, we propose that underwriting in these equity offerings may be a result of agency problems between shareholders. Furthermore, a rights issue paradox is insinuated in the Swedish equity market. However, we limit our inference to mere indications as opposed to definite conclusions, and emphasise that an estimation of the indirect costs is needed to assert the presence of such paradox. Finally, we find that there are economies of scale of underwriting and that the cost of underwriting is decreasing in the insured share in the equity offering.This thesis studies the choice of floatation method using a dataset based on 703 public offerings in Sweden between 2006 and 2017. A logistic model is utilised to study the determinants of underwriting, an ordinary least square model to estimate the direct cost of floatation, and the cost of underwriting is estimated using the Heckman sample selection model. The results are generally aligned with existing research and suggest that underwriters are providers of signalling in equity offerings, but are for our sample to be considered imperfect in providing certification. In contrast to existing beliefs of shareholder takeup, the likelihood of underwriting is increasing in expected shareholder takeup from subscription precommitments. Our explanation for this is bilateral. On the one side, we argue that risk averse firms can ensure successful offerings by using a combination of subscription precommitments and underwriting. On the other side, we reason that high subscription precommitments indicate concentrations of large shareholders. Accordingly, we propose that underwriting in these equity offerings may be a result of agency problems between shareholders. Furthermore, a rights issue paradox is insinuated in the Swedish equity market. However, we limit our inference to mere indications as opposed to definite conclusions, and emphasise that an estimation of the indirect costs is needed to assert the presence of such paradox. Finally, we find that there are economies of scale of underwriting and that the cost of underwriting is decreasing in the insured share in the equity offering