|
Roy Model
The Roy model is one of the earliest works in economics on self-selection due to A. D. Roy. The basic model considers two types of workers that choose occupation in one of two sectors. Original model Roy's original paper deals with workers selecting into fishing and hunting professions, where there is no uncertainty about the amount of goods (fish or rabbits) that will be caught in a given period, but fishing is more costly as it requires more skill. The central question that Roy tries to answer in the original paper is whether the best hunters will hunt and the best fishermen will fish. While the discussion is non-mathematical, it is observed that choices will depend on the distribution of skills, the correlation between these skills in the population, and the technology available to use these skills. Further developments George Borjas was the first to formalize the model of Roy in a mathematical sense and apply it to self-selection in immigration. Specifically, assume source cou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Self-selection Bias
In statistics, self-selection bias arises in any situation in which individuals select themselves into a group, causing a biased sample with nonprobability sampling. It is commonly used to describe situations where the characteristics of the people which cause them to select themselves in the group create abnormal or undesirable conditions in the group. It is closely related to the non-response bias, describing when the group of people responding has different responses than the group of people not responding. Self-selection bias is a major problem in research in sociology, psychology, economics and many other social sciences. In such fields, a poll suffering from such bias is termed a self-selected listener opinion poll or "SLOP". The term is also used in criminology to describe the process by which specific predispositions may lead an offender to choose a criminal career and lifestyle. While the effects of self-selection bias are closely related to those of selection bias, t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oxford Economic Papers
''Oxford Economic Papers'' is a peer reviewed academic journal of general economics published by Oxford University Press Oxford University Press (OUP) is the university press of the University of Oxford. It is the largest university press in the world, and its printing history dates back to the 1480s. Having been officially granted the legal right to print book .... References Oxford University Press academic journals Economics journals English-language journals {{economics-journal-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
George Borjas
George Jesus Borjas ( born Jorge Jesús Borjas, October 15, 1950) is a Cuban-American economist and the Robert W. Scrivner Professor of Economics and Social Policy at the Harvard Kennedy School. He has been described as "America’s leading immigration economist"Noah SmithImmigrants Don't Steal From Americans' Paychecks bloomberg.com, June 16, 2017. and "the leading sceptic of immigration among economists". Borjas has published a number of studies that conclude that low-skilled immigration adversely affects low-skilled natives (while positively affecting medium and high skilled natives), a proposition that is debated among economists. Personal life and education Borjas was born in Havana, Cuba, on October 15, 1950. He immigrated to the United States in October 1962 with his mother. He graduated with a B.S. in economics and mathematics from St. Peter's College in 1971. He then completed his M.A. in economics from Columbia University in 1974. He completed his M.Phil and Ph.D. in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Immigration
Immigration is the international movement of people to a destination country of which they are not natives or where they do not possess citizenship in order to settle as permanent residents or naturalized citizens. Commuters, tourists, and other short-term stays in a destination country do not fall under the definition of immigration or migration; seasonal labour immigration is sometimes included, however. As for economic effects, research suggests that migration is beneficial both to the receiving and sending countries. Research, with few exceptions, finds that immigration on average has positive economic effects on the native population, but is mixed as to whether low-skilled immigration adversely affects low-skilled natives. Studies show that the elimination of barriers to migration would have profound effects on world GDP, with estimates of gains ranging between 67 and 147 percent for the scenarios in which 37 to 53 percent of the developing countries' workers migrat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Heckman
James Joseph Heckman (born April 19, 1944) is a Nobel Prize-winning American economist at the University of Chicago, where he is The Henry Schultz Distinguished Service Professor in Economics and the College; Professor at the Harris School of Public Policy; Director of the Center for the Economics of Human Development (CEHD); and Co-Director of Human Capital and Economic Opportunity (HCEO) Global Working Group. He is also Professor of Law at the Law School, a senior research fellow at the American Bar Foundation, and a research associate at the National Bureau of Economic Research. In 2000, Heckman shared the Nobel Memorial Prize in Economic Sciences with Daniel McFadden, for his pioneering work in econometrics and microeconomics. As of December 2020, according to RePEc, he is the second-most influential economist in the world. Early years Heckman was born to John Jacob Heckman and Bernice Irene Medley in Chicago, Illinois. He received his B.A. in mathematics from Colorado Coll ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bo Honoré
Bo Honoré is a Danish economist who is currently the Class of 1913 Professor of Political Economy at Princeton University Princeton University is a private research university in Princeton, New Jersey. Founded in 1746 in Elizabeth as the College of New Jersey, Princeton is the fourth-oldest institution of higher education in the United States and one of the .... References Year of birth missing (living people) Living people Princeton University faculty American economists University of Chicago alumni Fellows of the Econometric Society {{US-economist-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Labor Force
The workforce or labour force is a concept referring to the pool of human beings either in employment or in unemployment. It is generally used to describe those working for a single company or industry, but can also apply to a geographic region like a city, state, or country. Within a company, its value can be labelled as its "Workforce in Place". The workforce of a country includes both the employed and the unemployed (labour force). Formal and informal Formal labour is any sort of employment that is structured and paid in a formal way.Seager, Joni. 2008. The Penguin Atlas of Women in the World. 4th ed. New York: Penguin Books. Part 5 Unlike the informal sector of the economy, formal labour within a country contributes to that country's gross national product. Informal labour is labour that falls short of being a formal arrangement in law or in practice. It can be paid or unpaid and it is always unstructured and unregulated.Seager, Joni. 2008. The Penguin Atlas of Women i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heckman Correction
The Heckman correction is a statistical technique to correct bias from non-randomly selected samples or otherwise incidentally truncated dependent variables, a pervasive issue in quantitative social sciences when using observational data. Conceptually, this is achieved by explicitly modelling the individual sampling probability of each observation (the so-called selection equation) together with the conditional expectation of the dependent variable (the so-called outcome equation). The resulting likelihood function is mathematically similar to the tobit model for censored dependent variables, a connection first drawn by James Heckman in 1974. Heckman also developed a two-step control function approach to estimate this model, which avoids the computational burden of having to estimate both equations jointly, albeit at the cost of inefficiency. Heckman received the Nobel Memorial Prize in Economic Sciences in 2000 for his work in this field. Method Statistical analyses ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joshua Angrist
Joshua David Angrist (born September 18, 1960) is an Israeli-American economist and Ford Professor of Economics at the Massachusetts Institute of Technology. Angrist, together with Guido Imbens, was awarded the Nobel Memorial Prize in Economics in 2021 "for their methodological contributions to the analysis of causal relationships". He ranks among the world's top economists in labor economics, urban economics, and the economics of education, and is known for his use of quasi-experimental research designs (such as instrumental variables) to study the effects of public policies and changes in economic or social circumstances. He is a co-founder and co-director of the MIT'School Effectiveness & Inequality Initiative which studies the relationship between human capital and income inequality in the U.S. Biography Angrist was born to a Jewish family in Columbus, Ohio, and raised in Pittsburgh, Pennsylvania, where he graduated from Taylor Allderdice High School in 1977. Angrist re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guido Imbens
Guido Wilhelmus Imbens (born 3 September 1963) is a Dutch-American economist whose research concerns econometrics and statistics. He holds the Applied Econometrics Professorship in Economics at the Stanford Graduate School of Business at Stanford University, where he has taught since 2012. In 2021, Imbens was awarded half of the Nobel Memorial Prize in Economic Sciences jointly with Joshua Angrist "for their methodological contributions to the analysis of causal relationships." Their work focused on natural experiments, which can offer empirical data in contexts where controlled experimentation may be expensive, time-consuming, or unethical. In 1994 Imbens and Angrist introduced the local average treatment effect (LATE) framework, an influential mathematical methodology for reliably inferring causation from natural experiments that accounted for and defined the limitations of such inferences. Imbens' work with Angrist, together with the work of co-recipient David Card, is c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
