Quaderni di Dipartimento [serie ordinaria - Anno 2015]


ELENCO DEI QUADERNI DI DIPARTIMENTO - WORKING PAPERS

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ISSN: 2279-9559 (dal n. 1 al n. 157), 2279-9567 (dal n. 158 al n. 363), 2279-9575 (dal n. 364 in poi)

413  Matteo PICCHIO, Jan C. VAN OURS
Gender and the Effect of Working Hours on Firm-Sponsored Training [novembre 2015]
Keywords:
  Part-time employment, firm-sponsored training, gender, human capital, working hours
JEL Classification:
  C33 Mathematical and Quantitative Methods - Multiple or Simultaneous Equation Models; Multiple Variables - Models with Panel Data; Longitudinal Data; Spatial Time Series
  C35 Mathematical and Quantitative Methods - Multiple or Simultaneous Equation Models; Multiple Variables - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
  J24 Labor and Demographic Economics - Demand and Supply of Labor - Human Capital; Skills; Occupational Choice; Labor Productivity
  M51 Business Administration and Business Economics; Marketing; Accounting - Personnel Economics - Firm Employment Decisions; Promotions
  M53 Business Administration and Business Economics; Marketing; Accounting - Personnel Economics - Training
Citations:   CitEc
 
412  Elizabeth Jane CASABIANCA, Alessia LO TURCO, Claudia PIGINI
  Women at work. A task analysis of the gender wage gap [novembre 2015]
Keywords:
  Employment participation, Gender disparities, Occupational choices, Roy model, Task approach
JEL Classification:
  J24 Labor and Demographic Economics - Demand and Supply of Labor - Human Capital; Skills; Occupational Choice; Labor Productivity
  J31 Labor and Demographic Economics - Wages, Compensation, and Labor Costs - Wage Level and Structure; Wage Differentials
Abstract:
  We provide a task-based analysis of the gender wage gap. We apply multivariate factor analysis on the O*NET database and show that three main tasks describe an occupation: manual, managerial-interpersonal and cognitive-professional. Matching our task measures with U.S. CPS data from 2003 to 2010 we find that the gender wage gap narrows as the manual and cognitive-professional intensity of tasks increases, whereas it widens in managerial-interpersonal intensive jobs. Non-cognitive skills, then, importantly characterize jobs and translate into heterogenous returns across genders. Our empirical strategy simultaneously accounts for endogenous selection into employment and occupations according to the latter's task intensity.
Citations:   CitEc
 
411  Asako OHINATA, Matteo PICCHIO
The Financial Support for Long-Term Elderly Care and Household Savings Behaviour [settembre 2015]
Keywords:
  Long-term elderly care, ageing, difference-in-difference, means tested financial support, saving, wealth
JEL Classification:
  C21 Mathematical and Quantitative Methods - Single Equation Models; Single Variables - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions
  D14 Microeconomics - Household Behavior and Family Economics - Personal Finance
  I18 Health, Education, and Welfare - Health - Government Policy; Regulation; Public Health
  J14 Labor and Demographic Economics - Demographic Economics - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
Citations:   CitEc
 
410  Francesco BARTOLUCCI, Silvia BACCI, Claudia PIGINI
A Misspecification Test for Finite-Mixture Logistic Models for Clustered Binary and Ordered Responses [luglio 2015]
Keywords:
  Generalized Linear Mixed Models, Hausman Test, Item Response Theory, Latent Class model, Longitudinal data, Multilevel data
JEL Classification:
  C12 Mathematical and Quantitative Methods - Econometric and Statistical Methods and Methodology: General - Hypothesis Testing: General
  C23 Mathematical and Quantitative Methods - Single Equation Models; Single Variables - Models with Panel Data; Longitudinal Data; Spatial Time Series
  C52 Mathematical and Quantitative Methods - Econometric Modeling - Model Evaluation, Validation, and Selection
Abstract:
  An alternative to using normally distributed random effects in modeling clustered binary and ordered responses is based on using a nite-mixture. This approach gives rise to a exible class of generalized linear mixed models for item responses, multilevel data, and longitudinal data. A test of misspecication for these finite-mixture models is proposed which is based on the comparison between the Marginal and the Conditional Maximum Likelihood estimates of the fixed effects as in the Hausman's test. The asymptotic distribution of the test statistic is derived; it is of chi-squared type with a number of degrees of freedom equal to the number of covariates that vary within the cluster. It turns out that the test is simple to perform and may also be used to select the number of components of the finite-mixture, when this number is unknown. The approach is illustrated by a series of simulations and three empirical examples covering the main fields of application.
Citations:   CitEc
 
409  Annarita COLASANTE, Antonio PALESTRINI, Alberto RUSSO, Mauro GALLEGATI
Adaptive Expectations with Correction Bias: Evidence from the lab [luglio 2015]
Keywords:
  Bounded rationality, Expectation, Experiments
JEL Classification:
  C92 Mathematical and Quantitative Methods - Design of Experiments - Laboratory, Group Behavior
  G12 Financial Economics - General Financial Markets - Asset Pricing; Trading volume; Bond Interest Rates
  G17 Financial Economics - General Financial Markets - Financial Forecasting and Simulation
Abstract:
  The present work analyzes the individual behavior in an experimental asset market in which the only task of each player is to predict the future price of an asset. To form their expectations, players see the past realization of the asset price in the market and the current information about the mean dividend and the interest rate. We investigate the mechanism of expectation formation in two dierent contexts: in the rst one the fundamental value is constant, while in the second the fundamental price increases over repetitions. The aim of this work is twofold: on the one hand, based on the nding of the recent literature about expectations, we investigate whether agents make their prediction according to adaptive expectation instead of rational one. On the other hand, we test the accuracy of the aggregate forecasts compared with the individual ones. Results show that there is heterogeneity both within and between groups. Agents follow adaptive rules to predict future prices and this implies that, in the majority of the cases, they coordinate on a price dierent from the fundamental value. We nd that there is a collective rationality instead of individual rationality. Indeed, each player makes systematic error forecast but, at the aggregate level, there are no signicant forecasting errors in the case in which the fundamental value is constant. In the context of increasing fundamental value, players are able to capture the trend but they underestimate that value.
Citations:   CitEc
 
408  Massimo TAMBERI
Material well-being and development: insights on the Preston curve1 [marzo 2015]
Keywords:
  Economic Development, Preston Curve, Well-being
JEL Classification:
  I15 Health, Education, and Welfare - Health - Health and Economic Development
  O10 Economic Development, Technological Change, and Growth - Economic Development - General
Abstract:
  Life expectancy is a subject of natural interest, also because it is an obvious index of welfare. In 1975 Preston revealed a clear connection between the level of per capita income and life expectancy and this is the subject of this paper. Several authors show that the exact nature of this association is not clear and/or analyzed, and, moreover, the curve is subject to other limitations (e.g.: endogeneity). I show that the use of alternative variables, instead than income, gives very good results and makes a step forward in reducing the limits of the Preston curve.
Citations:   CitEc