Search results for "Reverse causality"
showing 6 items of 6 documents
Aggregate uncertainty and sectoral productivity growth: The role of credit constraints
2016
Abstract We show that an increase in aggregate uncertainty—measured by stock market volatility—reduces productivity growth more in industries that depend heavily on external finance. The mechanism at play is that during periods of high uncertainty, firms that are credit constrained switch the composition of investment by reducing productivity-enhancing investment—such as on ICT capital—which is more subject to liquidity risks (Aghion et al., 2010). The effect is larger during recessions, when financing constraints are more likely to be binding, than during expansions. Our statistical method—a difference-in-difference approach using productivity growth of 25 industries from 18 advanced econo…
A cross-country study of skills and unemployment flows
2021
AbstractUsing an international survey that directly assesses the cognitive skills of the adult population, I study the relation between skills and unemployment flows across 37 countries. Depending on the specifically assessed domain, I document that skills have an unconditional correlation with the log-risk-ratio of exiting to entering unemployment of 0.65–0.68 across the advanced and skill-abundant countries in the sample. The relation is remarkably robust and it is unlikely to be due to reverse causality. I do not find evidence that this positive relation extends to the seven relatively less advanced and less skill-abundant countries in the sample: Peru, Ecuador, Indonesia, Mexico, Chile,…
A Cross-Country Study of Workers' Skills and Unemployment Flows
2017
Using an international survey that directly assesses the cognitive skills of the adult population, I study the relation between skills and unemployment flows across 37 countries. Depending on the specifically assessed domain, I document that skills have an unconditional correlation with the log-risk-ratio of exiting to entering unemployment of 0.65–0.68 across the advanced and skill-abundant countries in the sample. The relation is remarkably robust and it is unlikely to be due to reverse causality. I do not find evidence that this positive relation extends to the seven relatively less advanced and less skill-abundant countries in the sample: Peru, Ecuador, Indonesia, Mexico, Chile, Turkey …
Predictores y efectos de la repetición de curso
2018
About a third of Spanish students will have repeated at least one school year by the time they reach 16. It is claimed that alternative policies top grade repetition should seek to provide individualised treatment and ensure early intervention. In Spain, while there is empirical evidence in support of the benefits of the former, there is little for the latter. Here, we fill this gap by combining data from two international assessments. We identify the profile of students who a) are at greatest risk of grade retention and b) are most negatively affected by the policy. Our results confirm the importance of early intervention and the need to rethink grade repetition as a one-size-fits-all poli…
Personality traits and unemployment: Evidence from longitudinal data
2012
This study contributes to the literature on how personality is related to labour market success by providing evidence on the relationship between personality traits and unemployment. After accounting for reverse causality and measurement error, our results suggest that higher openness was associated with increased cumulative unemployment at the prime working age. It seems that this connection occurs because individuals with higher openness enter into unemployment spells more frequently – not because their unemployment spells would be particularly long. peerReviewed
Corruption-Related Disclosure in the Banking Industry: Evidence From GIPSI Countries
2022
This paper empirically investigates corruption-related disclosure in the banking industry, aiming to identify the most relevant theories which explain why financial institutions disclose corruption-related information to the public in their annual financial reports.Using a total sample of 88 banks from the GIPSI countries during the period 2011-2019, our results reveal that, on average, banks involved in corruption issues disclose less on corruption-related information than banks not involved in any corruption scandal. Moreover, banks not involved in corruption cases disclose even more information after other banks’ corruption events become public. These basic relationships, however, are sh…