世界経済・社会統計 = World development indicators

计量经济分析 = Econometric analysis

Offering a unifying theoretical perspective not readily available in any other text, this innovative guide to econometrics uses simple geometrical arguments to develop students' intuitive understanding of basic and advanced topics, emphasizing throughout the practical applications of modern theory and nonlinear techniques of estimation. One theme of the text is the use of artificial regressions for estimation, reference, and specification testing of nonlinear models, including diagnostic tests for parameter constancy, serial correlation, heteroscedasticity, and other types of mis-specification. Explaining how estimates can be obtained and tests can be carried out, the authors go beyond a mere algebraic description to one that can be easily translated into the commands of a standard econometric software package. Covering an unprecedented range of problems with a consistent emphasis on those that arise in applied work, this accessible and coherent guide to the most vital topics in econometrics today is indispensable for advanced students of econometrics and students of statistics interested in regression and related topics. It will also suit practising econometricians who want to update their skills. Flexibly designed to accommodate a variety of course levels, it offers both complete coverage of the basic material and separate chapters on areas of specialized interest.

Estimation and Inference in Econometrics

We investigate conditions sufficient for identification of average treatment effects using instrumental variables. First we show that the existence of valid instruments is not sufficient to identify any meaningful average treatment effect. We then establish that the combination of an instrument and a condition on the relation between the instrument and the participation status is sufficient for identification of a local average treatment effect for those who can be induced to change their participation status by changing the value of the instrument. Finally we derive the probability limit of the standard IV estimator under these conditions. It is seen to be a weighted average of local average treatment effects.

Evolution and Rationality Some Recent Game-Theoretic Results. Identification and Estimation of Local Average Treatment Effects

Earnings Management and Investor Protection: An International Comparison

Unlike traditional start-ups, innovative start-ups and their respective market partners are faced with severe problems of asymmetric information due to their lack of prior production history and reputation. Here, we study whether and how entrepreneurial signaling via education can help innovative entrepreneurs signal their abilities to banks and prospective employees. We argue that innovative entrepreneurs signal their quality by means of certain characteristics of their educational history. In particular, we expect potential employees to use an entrepreneur’s university degree as a quality signal when deciding whether to accept a job at an innovative start-up, and we expect banks to use a more precise indicator, namely the actual length of study in relation to a standard length, as a signal when deciding to extend credit to an innovative founder. By contrast, traditional start-ups are not faced with the same problems of asymmetric information, so we do not expect employees or banks to require the same signals from them. We empirically test our hypotheses using a dataset of more than 700 German start-ups collected in 1998/99. All hypotheses are borne out by the data.

/pdf/entrepreneurial-signaling-via-education-a-success-factor-in-2vqg9zciuj.pdf

Entrepreneurial Signaling via Education: A Success Factor in Innovative Start-Ups

This article investigates how age diversity within a company's workforce affects company productivity. It introduces a theoretical framework that helps integrate results from a broad disciplinary spectrum of ageing and diversity research to derive empirically testable hypotheses on the effects of age diversity on company productivity. It argues that first the balance between costs and benefits of diversity determines the effect of age diversity on company productivity, and that second the type of task performed acts as a moderator. To test these hypotheses, it uses a large-scale employer–employee panel data set. Results show that increasing age diversity has a positive effect on company productivity if and only if a company engages in creative rather than routine tasks.

Positive effects of ageing and age diversity in innovative companies – large-scale empirical evidence on company productivity

Reversing the original signaling model, this study explains how employers signal the non-observable quality of their workplace and thereby reduce labor shortages. Based on a company data set of 204...

/pdf/avoiding-labor-shortages-by-employer-signaling-on-the-hppk5u23qm.pdf

Avoiding Labor Shortages by Employer Signaling: On the Importance of Good Work Climate and Labor Relations:

Avoiding labor shortages for skilled employees is one of the major challenges for highly competitive firms acting in tight labor markets. The ability to avoid labor shortages on the company level, for example measured by the share of vacant jobs, is distributed very unevenly and cannot in general be explained by differences in wages and compensation packages as standard economic theory would suggest. In our paper we present a theoretical explanation for large and persisting inter-firm differences in job vacancy rates. Many psychological studies show that unobservable job and company characteristics such as work atmosphere or individual self determination are crucial for employees’ job choices. However, since these characteristics are not reliably observable to an outsider, we argue that potential employees use other, on the surface nonessential company characteristics as signals for their preferred characteristics in their job decision. To derive empirically testable hypotheses we reverse Spence’s labor market signaling model and study how employers can reliably signal the quality of their work climate and labor relations to potential employees. We use a rich data set from approximately 700 firms to test our hypotheses and do find in fact that formal features of labor relations which on the surface may not seem relevant for recruitment success of skilled workers nevertheless exert significant effects on recruitment success and job vacancies.

Avoiding Labor Shortages by Employer Signaling - On the Importance of Good Work Climate and Labor Relations

– The purpose of this paper is to derive an empirical method to identify different types of training strategies of companies based on publicly available company data., – Using a ten‐year panel, the within‐firm retention rate, defined as the average proportion of apprentices staying in a company in relation to all apprenticeship graduates of a company over several years, was analyzed. The within‐firm retention rate is used to identify these companies' training strategies., – It was shown that companies' motivation for apprenticeship training in Germany is not homogeneous: 19 percent of all companies follow a substitution strategy and 44 percent follow an investment strategy. The determinants of the substitution strategy were estimated and, for example, sizeable differences were found between sectors with different skill requirements and between firms' coverage of industrial relations., – The method is well suited to classify substitution‐motivated training firms but it is less precise in identifying the investment motivation. Moreover, very small firms which train only one apprentice need longer panel duration for precise results and therefore the classification results are less precise for very small firms., – The classification can be used to identify determinants of company participation in apprenticeship training and to predict changes in demand for apprentices., – A simple and innovative method of identifying different types of training motivation with publicly available company data was derived, which has so far been possible only with very detailed company‐specific apprenticeship surveys.

/pdf/apprenticeship-training-for-investment-or-substitution-215erf9ye3.pdf

Uschi Backes-Gellner

Papers

Entrepreneurial Signaling via Education: A Success Factor in Innovative Start-Ups

Positive effects of ageing and age diversity in innovative companies – large-scale empirical evidence on company productivity

Avoiding Labor Shortages by Employer Signaling: On the Importance of Good Work Climate and Labor Relations:

Avoiding Labor Shortages by Employer Signaling - On the Importance of Good Work Climate and Labor Relations

Apprenticeship training: for investment or substitution?