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Essays In Public Economics, Ancuta Cojoc
Essays In Public Economics, Ancuta Cojoc
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\chapter*{Abstract}
In the first essay I estimate the effect of a tuition subsidy, in the form of in-state tuition for undocumented immigrants, on the college enrollment decision of non-citizen Mexican immigrants. Using data from the Current Population Survey, I capture the variable impact of the policy across age by estimating the impact on two different age groups. I also estimate the differential effect across genders. The policy increases the college enrollment among non-citizen Mexican immigrants. The subsidy is associated with a 1.5 percentage points (or 15 percent) increase in college attendance of younger immigrants aged 18 to 20 years old. …
Migration And Child Educational Production: Aggregated Vs. Disaggregated Resource Modeling, Guo Li
Migration And Child Educational Production: Aggregated Vs. Disaggregated Resource Modeling, Guo Li
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This paper studies the sensitivity of estimates on various assumptions about aggregation in modeling the school's effect in child educational production. By controlling for the endogeneity of school qualities in the production function, we evaluate the performance of a 'correct' aggregation educational production model versus simple aggregation educational production model in predicting the school resources' effect on academic outcome. Monte Carlo simulations on different modeling specifications shows that simple aggregation of school resources over a geographic area causes serious specification errors, and thus generates biased estimates for the marginal contribution of the school resources to test scores. The two aggregation …
Essays In Contemporary Tax Law Changes, Arpita Biswas
Essays In Contemporary Tax Law Changes, Arpita Biswas
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In the first essay, I provide estimates of price and income elasticities of charitable contributions which reveal substantial differences in giving patterns across different income groups. The paper develops an intertemporal model of giving which predicts that lowering current income taxes induces substitution away from current giving towards giving in future periods. Cragg's Generalized Tobit model applied to Consumer Expenditure data from 1997-2006 provides estimates of income and price elasticities conditioned upon contribution, which range between 0.17 to 0.81 and −0.50 to −1.16 respectively. Empirical analysis shows substantial evidence of intertemporal substitution, implying that if the difference between future and …
The Regulatory Roots Of The 2007 Financial Crisis, Jane Coetsee
The Regulatory Roots Of The 2007 Financial Crisis, Jane Coetsee
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ABSTRACT
The rate of home ownership in the US had remained around 65% since the end of the Second World War. Between 1994 and 2006 the rate of home ownership climbed to 69%. In 2006, the combined assets of the top 5 bank holding companies were $6 trillion. Between 2007 and 2009 almost $2 trillion of bank assets evaporated as widespread mortgage defaults triggered a crisis. The pressing question is why were so many bad loans originated in the first place and what induced firms and investors to hold them? The primary mortgage market is intensely regulated and the secondary …