The Racial Test Score Gap and Parental Involvement in Britain We investigate the racial gap in test scores between black and white students in Britain both in levels and differences across the school years. We find that there is an increasing racial gap in test scores between ages 7 and 11, and a decreasing one between ages 11 and 16. Using the richness of information of the National Child Deve...

This paper studies the adverse price effects of convergence trading. We assume two assets with identical cash flows traded in segmented markets. Initially, there is gap between the prices of the assets, because local traders’ hedging needs differ. In the absence of arbitrageurs, the gap remains constant until a random period when the difference across local markets disappears. While arbitrageur...

The present paper integrates neoclassical offer curves and production theory, introducing utility maximization and trade levels into the comparative static factor proportions model. The paper analyzes production conditions that determine the Metzler paradox that a tariff could lower the tariff inclusive import price. The model provides a more complete link between neoclassical and factor propor...

We explore the notion of “verifiability” by analyzing a simple model of evidence production in contractual relationships with complete information. We characterize implementability in terms of the existence and form of “hard evidence.” We provide results on maximal and minimal evidence production that are, respectively, necessary and sufficient for implementation. We briefly discuss the relevan...

The author evaluates the ability of a variety of output-gap estimators to accurately measure the output gap in a model economy. A small estimated model of the Canadian economy is used to generate artificial data. Using output and inflation data generated by this model, the author uses each output-gap estimation methodology to construct an estimate of the true output gap. He then evaluates the m...

We investigate the influence of offshore production by Japanese multinationals on labour in Japan. Identifying relationships based on within variation in a panel of 1070 Japanese firms, we find that additional foreign affiliate employment is associated with greater use of nonproduction labour at home relative to production labour. Firms that shift production overseas also tend to increase their...

Blinder-Oaxaca Decomposition for Tobit Models In this paper, a decomposition method for Tobit-models is derived, which allows the differences in a censored outcome variable between two groups to be decomposed into a part that is explained by differences in observed characteristics and a part attributable to differences in the estimated coefficients. The method is applied to a decomposition of t...

Climbing the Job Ladder: New Evidence of Gender Inequity An explanation for the gender wage gap is that women are less able or less willing to ‘climb the job ladder.’ However, the empirical evidence on gender differences in job mobility has been mixed. Focusing on a subsample of younger, university-educated workers from an Australian longitudinal survey, we find strong evidence that the dynamic...

A major obstacle for research in international asset pricing and corporate finance has been a lack of reliable and publicly available data on international common risk factors and portfolios. To address this gap, we provide a step-by-step description of how appropriately screened data from Thomson Reuters Datastream and Thomson Reuters Worldscope can be used to construct high-quality systematic...

this paper using generalized roeger's model calculated the lerner index for iranian active industries in 4-digit isic codes during the period 1995-2007. the findings indicate that the lerner index has been between 8 to 16 percent in 38 industries among 131 ones. the index also in different industries shows that more than 50 percent of iranian industries have monopolistic power such that th...