School competition and students’ entrepreneurial intentions: international evidence using historical Catholic roots of private schooling

School choice research mostly focuses on academic outcomes. Policymakers increasingly view entrepreneurial traits as a non-cognitive outcome important for economic growth. We use international PISA-2006 student-level data to estimate the effect of private-school competition on students’ entrepreneurial intentions, measured by their occupational desire to manage a small enterprise. We exploit Catholic-Church resistance to state schooling in the 19th century as a natural experiment to obtain exogenous variation in current private-school shares. Our instrumental-variable results suggest that a 10%-point higher private-school share raises students’ entrepreneurial intentions by 0.3–0.5% points (11–18% of the international mean) even after controlling for current Catholic shares, students’ academic skills, and parents’ entrepreneurial occupation.     

Sovereign risk premiums in the European government bond market

This paper provides a study of bond yield differentials among EU government bonds on the basis of a unique data set of issue spreads in the US and DM (Euro) bond market between 1993 and 2009. Interest differentials between bonds issued by EU countries and Germany or the USA contain risk premiums which increase with fiscal imbalances and depend negatively on the issuer’s relative bond market size. The start of the European Monetary Union has shifted market attention to deficit and debt service payments as key measures of fiscal soundness and eliminated liquidity premiums in the euro area. With the financial crisis, the cost of loose fiscal policy has increased considerably.     

The cyclicality of consumption,wages and employment of the public sector in the euro area

This study empirically examines the business cycle behaviour of public consumption and its main components, the public wage bill (including its breakdown into compensation per employee and public employment) and intermediate consumption, in the euro area aggregate, euro area countries and a group of selected non-euro area Organization for Economic Co-operation and Development (OECD) countries (Denmark, Sweden, the UK, Japan and the US). It looks across a large number of variables and methods, using annual data from 1960 to 2005. It finds robust evidence supporting that public consumption, wages and employment co-move with the business cycle in a pro-cyclical manner with 1–2 year lags, notably for the euro area aggregate and euro area countries. The findings reflect mainly the correlation between cyclical developments, but also point to an important role of pro-cyclical discretionary fiscal policies.     

Ein Tag ohne Pflege

Einen akuten und vollst?ndigen Pflegemangel haben wir in Deutschland noch nie erlebt. Das hat nur einen Grund: Beruflich Pflegende sind gepr?gt von einem hohen Ma? an ethischer Verantwortung, zu Recht liegen sie im Ranking der vertrauenswürdigen Berufe auf Platz drei. Andere Berufsgruppen zeigen eindrucksvoll, was mit Ausst?nden erreichbar ist, wenn sie nur einen empfindlichen Nerv der Bev?lkerung treffen und Mangel spürbar wird.     

ANTIDUMPING POLICY IN THE EUROPEAN COMMUNITY: POLITICAL DISCRETION OR TECHNICAL DETERMINATION

This paper demonstrates the prominent role of antidumping laws as an instrument of endogenous trade policy in the EC. In contrast with the U.S. where anti-dumping decisions are largely subject to technical determination and trade barriers result from protectionist rules, the EC application of antidumping laws provides protection through administrative discretion and political influence on administrators. Whereas political influence seems to have increased over time in the U.S., the results of our empirical analysis of the EC antidumping decisions in the 1980 to 1990 period indicate that it has been curbed by the increased formalization of the antidumping investigation in the EC in this period. The estimation results show, however, that the tightening impact of each of the three institutional changes during this period faded within two years.     

Schooling,educational achievement,and the Latin American growth puzzle

Latin American economic development has been perceived as a puzzle. The region has trailed most other world regions over the past half century despite relatively high initial development and school attainment levels. This puzzle, however, can be resolved by considering educational achievement, a direct measure of human capital. We introduce a new, more inclusive achievement measure that comes from splicing regional achievement tests into worldwide tests. In growth regressions, the positive growth effect of educational achievement fully accounts for the poor growth performance of Latin American countries. These results are confirmed in a number of instrumental-variable specifications that exploit plausibly exogenous achievement variation stemming from historical and institutional determinants of educational achievement. Finally, a development accounting analysis finds that, once educational achievement is included, human capital can account for between half and two thirds of the income differences between Latin America and the rest of the world.     

Herausforderung Organisations-Controlling — Entwicklung von Bewertungskriterien für die Aufbau- und Führungsorganisation

Ohne Zusammenfassung Prof. Dr. habil. Jens Grundei Professor für Betriebswirtschaftslehre, insb. Organisation und Personal, Fachhochschule für Oekonomie und Management (FOM), und selbstst?ndiger Berater. Dipl.-Vw. Ludger Becker Leiter Corporate Organization der Bayer AG und Lehrbeauftragter an der Technischen Universit?t Berlin. Bayer AG, Corporate Human Resources & Organization, 51368 Leverkusen     

Search frictions and labor market participation

Cross-country differences in labor market participation are often larger than differences in unemployment rates. The same holds true across demographic groups within a given economy. We argue that the interaction between labor force participation decisions and labor market frictions can help us understand these patterns. This interaction highlights dynamic aspects of the participation decision, in contrast to standard textbook treatments that emphasize static costs and benefits of participation. We extend the standard labor market search problem to allow for a third state—non-participation—and assumes that stochastic participation costs precipitate flows into and out of non-participation. We fully characterize the worker's decision problem and use numerical simulations to demonstrate how participation patterns vary with individual characteristics and with labor market conditions.     

What accounts for international differences in student performance? A re-examination using PISA data

We use the PISA student-level achievement database to estimate international education production functions. Student characteristics, family backgrounds, home inputs, resources, teachers and institutions are all significantly associated with math, science and reading achievement. Our models account for more than 85% of the between-country performance variation, with roughly 25% accruing to institutional variation. Student performance is higher with external exams and budget formulation, but also with school autonomy in textbook choice, hiring teachers and within-school budget allocations. Autonomy is more positively associated with performance in systems that have external exit exams. Students perform better in privately operated schools, but private funding is not decisive.