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Dynamic investment models and the firm's financial policy
The aim of this paper is to characterize the empirical implications for dynamic investment models of the hierarchy of finance model of corporate finance and to test these implications using firmExpand
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The labour market impact of the working families’ tax credit
In October 1999, the working families’ tax credit (WFTC) replaced family credit as the main package of in-work support for families with children. Among a range of stated aims, the WFTC is intendedExpand
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Income Variance Dynamics and Heterogeneity
Recent theoretical work has shown the importance of measuring microeconomic uncertainty for models of both general and partial equilibrium under imperfect insurance. In this Paper the assumption ofExpand
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Consumer demand and the life-cycle allocation of household expenditures
The purpose of this paper is to estimate the parameters of household preferences that determine the allocation of goods within the period and over the life cycle, using micro data. In doing so we areExpand
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Education Choices in Mexico: Using a Structural Model and a Randomized Experiment to evaluate Progresa.∗
In this paper we evaluate the effect of a large welfare program in rural Mexico. For such a purpose we use an evaluation sample that includes a number of villages where the program was notExpand
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Evaluating the Employment Impact of a Mandatory Job Search Program: The New Deal for Young People in the UK
This paper exploits the differential timing of the introduction of a labor market program across areas as well as agerelated eligibility rules to identify the treatment effect of a targeted activeExpand
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Human capital investment: the returns from education and training to the individual, the firm and the economy
This paper provides a non-technical review of the evidence on the returns to education and training for the individual, the firm and the economy at large. It begins by reviewing the empirical workExpand
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Heterogeneity in Human Capital Investments: High School Curriculum, College Major, and Careers
Motivated by the large differences in labor market outcomes across college majors, we survey the literature on the demand for and return to high school and post-secondary education by field of study.Expand
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Educational Reform, Ability, and Family Background
In this paper we evaluate the impact of a major school reform, that took place in the 1950s in Sweden, on educational attainment and earnings. The reform, which has many common elements with reformsExpand
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Growth, distance to frontier and composition of human capital
We examine the contribution of human capital to economy-wide technological improvements through the two channels of innovation and imitation. We develop a theoretical model showing that skilled laborExpand
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