{"title":"Unconditional cash transfers and child schooling: a meta-analysis","authors":"Zhi Zheng Chong, Siew Yee Lau","doi":"10.1007/s00181-024-02647-3","DOIUrl":"https://doi.org/10.1007/s00181-024-02647-3","url":null,"abstract":"<p>There is growing rigorous evidence on the schooling impacts of unconditional cash transfers, but only few have systematically reviewed the literature. This paper fills the gap through applying a meta-regression analysis to 38 studies of 22 programmes in 18 countries. We find that unconditional cash transfers improve both student enrolment and attendance, and the result is robust to the exclusion of studies with a high risk of bias. We also find statistically significant heterogeneity in effect sizes across studies. The effect on enrolment is larger for a setting where average monthly labour income in the economy is lower and for secondary school students. However, we do not find other moderators in this paper, namely transfer size, whether the programme is pilot, and poverty head headcount ratio, explain the variation in effect sizes. Our paper highlights the need of more evaluations on the schooling impacts of unconditional cash transfers and how tweaks in programme design could make a difference.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"61 3 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141862868","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"How do climate policy uncertainty and renewable energy and clean technology stock prices co-move? evidence from Canada","authors":"Seyed Alireza Athari, Dervis Kirikkaleli","doi":"10.1007/s00181-024-02643-7","DOIUrl":"https://doi.org/10.1007/s00181-024-02643-7","url":null,"abstract":"<p>This work probes the dynamic co-movement between the Climate Policy Uncertainty Index (CPU) and the Renewable Energy and Clean Technology Index (RECT) employing the novel wavelet power spectrum (WPS) and wavelet coherence (WC) approaches for monthly data between 2013 and 2022. Using the wavelet approach enables us to observe the causality direction from both time and frequency dimensions and also to help detect the causal linkage in the short-medium and long-term horizons. This is the first study aiming to perform this relationship from both time and frequency dimensions. Remarkably, findings reveal that: i) CPU seems only volatile in 2019 and 2021 in the short run; (ii) there was significant volatility in the RECT in the short and long terms (SLT) between 2018 and 2022; (iii) RECT significantly caused the CPU between 2014 and 2018; iv) after 2019, CPU started to cause RECT in the short and medium terms (SMT).</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"5 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141783240","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Erik Figueiredo, João Ricardo Faria, Jaime Orrillo, Rodrigo Pereira
{"title":"Are the loans of state-owned banks politically motivated?","authors":"Erik Figueiredo, João Ricardo Faria, Jaime Orrillo, Rodrigo Pereira","doi":"10.1007/s00181-024-02636-6","DOIUrl":"https://doi.org/10.1007/s00181-024-02636-6","url":null,"abstract":"<p>This paper investigates the relationship between annual disbursements of Brazil’s largest development bank, BNDES, and mayors political affiliation. We explore a set of Difference-in-Difference (DiD) designs to evaluate causal effects of policy interventions. Using data of Brazilian municipalities, we find that municipalities with mayors belonging to the coalition that supports the Federal government get higher disbursements than the ones with mayors that are out of the coalition. There is strong evidence that firms located in allied municipalities receive average higher loans. Our findings support the view that political bias may distort the credit allocation of state-owned banks.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"241 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-07-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141608424","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Daniel Lopes, Geraldo Silva Filho, Leonardo Monasterio
{"title":"From past to present: ancestry and student achievement in Brazil","authors":"Daniel Lopes, Geraldo Silva Filho, Leonardo Monasterio","doi":"10.1007/s00181-024-02638-4","DOIUrl":"https://doi.org/10.1007/s00181-024-02638-4","url":null,"abstract":"<p>This paper estimates the impact of family ancestry on the educational outcomes of a cohort of Brazilian students. Based on longitudinal data with student identification, we apply an algorithm of surname classification that assigns the student, based on the surnames of his/her parents and grandparents, to one of the following ancestry groups: Iberian, Japanese, Italian, German, Eastern European and Syrian-Lebanese. Our identification strategy relies on the epidemiological approach, controlling for individual trajectory since birth and the persistence of local institutions established during the Era of Mass Immigration to Brazil in the 19th and 20th centuries. We show that, despite slight or absent differences in preschool attendance rate, students with non-Iberian ancestry obtain statistically and substantively higher promotion rates and scores on 3<sup>rd</sup> and 5<sup>th</sup> grade nationwide standardized tests.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"41 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-07-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141575031","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Arthur S. Kuchenbecker, Hudson S. Torrent, Flavio A. Ziegelmann
{"title":"Measuring and explaining efficiency of pre-vaccine country responses to COVID-19 pandemic: a conditional robust nonparametric approach","authors":"Arthur S. Kuchenbecker, Hudson S. Torrent, Flavio A. Ziegelmann","doi":"10.1007/s00181-024-02635-7","DOIUrl":"https://doi.org/10.1007/s00181-024-02635-7","url":null,"abstract":"<p>In this paper, we propose the use of a conditional nonparametric robust estimator to evaluate countries pre-vaccine responses to the outburst of COVID-19 pandemic. We collect data for 105 countries (comprehending the initial period of the pandemic through the end of May 2021), with variables regarding the death toll, economic indicators, demographic characteristics and non-pharmaceutical interventions. We create a novel empirical framework for estimating efficiency of countries responses in more general terms than simply evaluating healthcare system performance. We use two distinct well-known second-stage approaches: regressing the conditional efficiency scores on the environmental factors, in order to compute measures of managerial efficiency to rank responses; and regressing the ratio of conditional and unconditional scores on conditioning factors, seeking to explore the relationship between non-pharmaceutical interventions and estimated efficiencies. Our results indicate which countries and regions stood out for presenting efficient/inefficient responses and point to an expected conclusion: The environmental factor <i>elderly population</i> has a significant and unfavorable effect on a country efficiency. Furthermore, the factors <i>median stringency index</i> and <i>median retail and recreation visitors change</i> show no significant effect on efficiency.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"63 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141551365","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ana Gamarra Rondine, José Félix Sanz-Sanz, María Arrazola
{"title":"The individual Laffer curve: evidence from the Spanish income tax","authors":"Ana Gamarra Rondine, José Félix Sanz-Sanz, María Arrazola","doi":"10.1007/s00181-024-02618-8","DOIUrl":"https://doi.org/10.1007/s00181-024-02618-8","url":null,"abstract":"<p>This paper characterises the Laffer curve of each individual taxpayer in a schedular multi-rate income tax with income shifting. Analytical expressions for the revenue-maximising tax rate and the revenue-maximising elasticity are provided for the individual taxpayer and the aggregate population, as well as new estimates of the Elasticity of Taxable Income. Applying these to the Spanish income tax demonstrates that 44.72% (58.49%) of the taxpaying population in the non-savings tax base (savings tax base) is on the “normal” side of the Laffer curve. On average, these taxpayers are 6.59 points (24.73 points) above (below) the maximum of the Laffer curve. The fraction of total tax revenue lost through behavioural responses amounts to 53.77%. However, this fraction varies by population subgroup and decreases when we account for income-shifting responses, suggesting the presence of fiscal externalities in the Spanish PIT.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"185 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141512592","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Threshold mixed data sampling logit model with an application to forecasting US bank failures","authors":"Lixiong Yang, Mingjian Ren, Jianming Bai","doi":"10.1007/s00181-024-02639-3","DOIUrl":"https://doi.org/10.1007/s00181-024-02639-3","url":null,"abstract":"<p>This paper introduces a threshold mixed data sampling logit (TM-logit) model, which allows for a threshold effect of independent variables sampled at different frequencies on the log-odds of dependent variable. We propose model estimation procedure and develop test statistics for relevance of high-frequency predictors, threshold effect, and equal weighting scheme. We also suggest a test statistic for the difference in forecasting accuracy between two competing models. We then extend the model to the framework with a covariate-dependent threshold (CDTM-logit) and propose estimation procedure and test statistic for threshold constancy. Monte Carlo simulations are conducted to assess the finite sample performance of the proposed estimation procedure and test statistics. The simulation results show that the estimation procedure performs well and test statistics have good size and power properties in finite samples. We apply the proposed model to predict US bank failures, and the empirical results indicate that the TM-logit and CDTM-logit models have good forecasting performance.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"210 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141512575","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"This must be the place: local amenities and superstars’ wages","authors":"Mattia Filomena, Francesco Principe","doi":"10.1007/s00181-024-02640-w","DOIUrl":"https://doi.org/10.1007/s00181-024-02640-w","url":null,"abstract":"<p>We investigate the role of local amenities in shaping compensating wage differentials in labor market populated by high-skilled workers. Using 10 years of longitudinal data on workers productivity along with information on firms and location amenities, we evaluate whether workers are willing to pay to join a better firm and if firms with undesirable attributes must provide higher wages to attract workers. By accounting for unobserved workers heterogeneity, we show that superstars receive positive wage differentials for lower location amenities as well as riskier employments.\u0000</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"14 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141505228","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"New evidence on the health and employment effects of non-pharmaceutical COVID-19 interventions on workers in the United States","authors":"Ege Aksu, Prabal K. De, Laxman Timilsina","doi":"10.1007/s00181-024-02631-x","DOIUrl":"https://doi.org/10.1007/s00181-024-02631-x","url":null,"abstract":"<p>We provide new evidence on the economic and health impacts of government- mandated non-pharmaceutical interventions (NPIs) during the COVID-19 pandemic. Apart from labor force participation, unemployment, and hours worked, we provide novel results on work absence due to illness. We also examine the heterogeneity of these results by demographic and employment groups. We use recent innovations in the difference-in-differences methodology to capture the dynamic effects of these orders that were staggered in nature. Our findings show that states’ social distancing measures increased unemployment and lowered labor market participation and hours worked. The adverse labor market effects were more pronounced for single parents and those working non-teleworkable jobs. We find some evidence that workers’ health improved as absence from work due to illness significantly decreased, suggesting that NPIs protected many vulnerable workers.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"19 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141529177","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Javier Cortés Orihuela, Juan D. Díaz, Pablo Gutiérrez Cubillos, Pablo A. Troncoso, Gabriel I. Villarroel
{"title":"Intergenerational earnings mobility in Chile: the tale of the upper tail","authors":"Javier Cortés Orihuela, Juan D. Díaz, Pablo Gutiérrez Cubillos, Pablo A. Troncoso, Gabriel I. Villarroel","doi":"10.1007/s00181-024-02607-x","DOIUrl":"https://doi.org/10.1007/s00181-024-02607-x","url":null,"abstract":"<p>This paper provides the first estimates of intergenerational earnings mobility in Chile using administrative data linking parents’ and children’s earnings from the formal private sector. We calculate mobility measures across the earnings distribution, revealing high mobility in the bottom 80% and 65% of the parents’ and children’s distribution, respectively. However, we observe significant persistence in the upper tail of the earnings distribution. Additionally, we identify notable gender heterogeneities in these mobility patterns. Specifically, the intergenerational mobility gender gap shows a nonlinear relationship with respect to parental earnings. Furthermore, we find that differences in mobility between the upper tail of the earnings distribution and the rest of the population are more pronounced for daughters than for sons. These findings suggest that the dynamics of gender-based mobility at the upper tail of the earnings distribution differ from those observed in the rest of the population.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"26 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-06-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141505229","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}