Ownership of Stocks and Mutual Funds: A Panel Data Analysis

Alessie, Rob; Hochguertel, Stefan; Soest, Arthur van

doi:10.1162/0034653041811761

Cited by 128 publications

(128 citation statements)

References 17 publications

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“…This indicates that the reciprocal effect has an important role in determining the structural re-lationship. Also, it implies that a unidirectional approach for modeling property offending and employment is less appropriate (Alessie, Hochguertel, & van Soest, 2004).…”

Section: Trivariate Model Resultsmentioning

confidence: 99%

Crime, Employment and Social Welfare: An Individual-Level Study on Disadvantaged Males

2015

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. We test economic and sociological theories for the relationship between employment and crime, where social welfare is used as an identifying mechanism. Methods: We consider a sample of disadvantaged males from The Netherlands who are observed between ages 18 and 32 on a monthly time scale. We simultaneously model the offending, employment and social welfare variables using a dynamic discrete choice model, where we allow for state dependence, reciprocal effects and time-varying unobserved heterogeneity. Results: We find significant negative bi-directional structural effects between employment and property crime. Robustness checks show that only regular employment is able to significantly reduce the offending probability. Further, a significant uni-directional effect is found for the public assistance category of social welfare on property offending. Terms of use: Documents in Conclusions:The results highlight the importance of economic incentives for explaining the relationship between employment and crime for disadvantaged individuals. For these individuals the crime reducing effects from the public assistance category of social welfare equivalent to those from employment, which suggests the importance of financial gains. Further, the results suggest that stigmatizing effects from offending reduce the future employment probability.

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Section: Trivariate Model Resultsmentioning

confidence: 99%

Crime, Employment and Social Welfare: An Individual-Level Study on Disadvantaged Males

2015

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“…This model is a modified version of the one in Alessie et al (2004) and similar to that used by Stewart (2007) to analyse the interrelated dynamics of unemployment and low-wage employment and by Picchio (2008) to study the stepping-stone effect of temporary jobs. Equation (1) shows that in each time period the probability of individual i of being out of the workforce at time t is determined by a vector of observed characteristics, x it , by unobserved heterogeneity, c 1i , and by the previous employment situation (employment without training, employment with training, or nonemployment).…”

Section: Econometric Modellingmentioning

confidence: 99%

Retaining through training even for older workers

Picchio

Ours

2013

Economics of Education Review

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. www.econstor.eu Terms of use: Documents in D I S C U S S I O N P A P E R S E R I E S Forschungsinstitut zur Zukunft der ArbeitInstitute for the Study The Institute for the Study of Labor (IZA) in Bonn is a local and virtual international research center and a place of communication between science, politics and business. IZA is an independent nonprofit organization supported by Deutsche Post Foundation. The center is associated with the University of Bonn and offers a stimulating research environment through its international network, workshops and conferences, data service, project support, research visits and doctoral program. IZA engages in (i) original and internationally competitive research in all fields of labor economics, (ii) development of policy concepts, and (iii) dissemination of research results and concepts to the interested public.IZA Discussion Papers often represent preliminary work and are circulated to encourage discussion. Citation of such a paper should account for its provisional character. A revised version may be available directly from the author. This paper investigates whether on-the-job training has an effect on the employability of workers. Using data from the Netherlands we disentangle the true effect of training incidence from the spurious one determined by unobserved individual heterogeneity. We also take into account that there might be feedback from shocks in the employment status to future propensity of receiving firm-provided training. We find that firm-provided training significantly increases future employment prospects. This finding is robust to a number of robustness checks. It also holds for older workers, suggesting that firm-provided training may be an important instrument to retain older workers at work.JEL Classification: C33, C35, J21, J24, M53

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“…We follow Alessie et al (2004) and adopt a Heckman-type initial condition solution. We specify the initial conditions as (1) and (6), this forms a system of dynamic binary choice equations.…”

Section: Endogeneity Of Fertilitymentioning

confidence: 99%

“…We specify the initial conditions as (1) and (6), this forms a system of dynamic binary choice equations. These are estimated jointly as in Alessie et al (2004). The only difference is that we use a point mass approach.…”

Section: Endogeneity Of Fertilitymentioning

confidence: 99%

Fertility and female employment dynamics in Europe: the effect of using alternative econometric modeling assumptions

Michaud

Tatsiramos

2011

J of Applied Econometrics

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in Fertility and Female Employment Dynamics in Europe: The Effect of Using Alternative Econometric Modeling AssumptionsPierre-Carl Michaud Konstantinos Tatsiramos The Institute for the Study of Labor (IZA) in Bonn is a local and virtual international research center and a place of communication between science, politics and business. IZA is an independent nonprofit organization supported by Deutsche Post World Net. The center is associated with the University of Bonn and offers a stimulating research environment through its international network, workshops and conferences, data service, project support, research visits and doctoral program. IZA engages in (i) original and internationally competitive research in all fields of labor economics, (ii) development of policy concepts, and (iii) dissemination of research results and concepts to the interested public. D I S C U S S I O N P A P E R S E R I E SIZA Discussion Papers often represent preliminary work and are circulated to encourage discussion. Citation of such a paper should account for its provisional character. A revised version may be available directly from the author. We investigate the direct and long-run effects of fertility on employment in Europe estimating dynamic models of labor supply under different assumptions regarding the exogeneity of fertility and modeling assumptions related to initial conditions, unobserved heterogeneity and serial correlation in the error terms. We find overall large direct and long-run effects of giving birth on employment probabilities, and these effects differ considerably across countries. We find that within countries the results are sensitive to the statistical assumption made on initial conditions, the inclusion of serial correlation and the assumption of strict exogeneity of children. However, the pattern across countries is robust to these assumptions. We show that such patterns are largely consistent with prevailing institutional differences related to the flexibility of the labor markets and family policies. JEL Classification:C23, C25, D91, J22

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Ownership of Stocks and Mutual Funds: A Panel Data Analysis

Cited by 128 publications

References 17 publications

Crime, Employment and Social Welfare: An Individual-Level Study on Disadvantaged Males

Crime, Employment and Social Welfare: An Individual-Level Study on Disadvantaged Males

Retaining through training even for older workers

Fertility and female employment dynamics in Europe: the effect of using alternative econometric modeling assumptions

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