Quantitative asset pricing implications of endogenous solvency constraints:
This paper examines the long-term effects of early test scores using data from the British National Child Development Survey. We show that test scores measured as early as age 7 have significant effects on future educational and labor market outcomes. For example, men and women in the lowest quartil...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
1999
|
| Schriftenreihe: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
6953 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper examines the long-term effects of early test scores using data from the British National Child Development Survey. We show that test scores measured as early as age 7 have significant effects on future educational and labor market outcomes. For example, men and women in the lowest quartile of the reading test score distribution have wages 20% lower at age 33 than those who scored in the highest quartile. We test several hypotheses about the interactions between socioeconomic status and high or low test scores at age 7. In terms of test scores, educational attainments, and employment at age 33, low-SES children reap both larger gains from having high age 7 test scores and smaller losses from having low age 7 test scores. The opposite is true among high-SES children who suffer larger losses from low scores and smaller gains from high scores. However we find little evidence of comparable interactive effects for wages. |
| Beschreibung: | 63 S. graph. Darst. |
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| 490 | 1 | |a National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |v 6953 | |
| 520 | |a This paper examines the long-term effects of early test scores using data from the British National Child Development Survey. We show that test scores measured as early as age 7 have significant effects on future educational and labor market outcomes. For example, men and women in the lowest quartile of the reading test score distribution have wages 20% lower at age 33 than those who scored in the highest quartile. We test several hypotheses about the interactions between socioeconomic status and high or low test scores at age 7. In terms of test scores, educational attainments, and employment at age 33, low-SES children reap both larger gains from having high age 7 test scores and smaller losses from having low age 7 test scores. The opposite is true among high-SES children who suffer larger losses from low scores and smaller gains from high scores. However we find little evidence of comparable interactive effects for wages. | ||
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| id | DE-604.BV012667342 |
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| indexdate | 2024-07-09T18:31:35Z |
| institution | BVB |
| language | English |
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| physical | 63 S. graph. Darst. |
| publishDate | 1999 |
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| series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| series2 | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| spelling | Alvarez, Fernando 1964- Verfasser (DE-588)12855178X aut Quantitative asset pricing implications of endogenous solvency constraints Fernando Alvarez ; Urban J. Jermann Cambridge, Mass. 1999 63 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 6953 This paper examines the long-term effects of early test scores using data from the British National Child Development Survey. We show that test scores measured as early as age 7 have significant effects on future educational and labor market outcomes. For example, men and women in the lowest quartile of the reading test score distribution have wages 20% lower at age 33 than those who scored in the highest quartile. We test several hypotheses about the interactions between socioeconomic status and high or low test scores at age 7. In terms of test scores, educational attainments, and employment at age 33, low-SES children reap both larger gains from having high age 7 test scores and smaller losses from having low age 7 test scores. The opposite is true among high-SES children who suffer larger losses from low scores and smaller gains from high scores. However we find little evidence of comparable interactive effects for wages. Actif (comptabilité) - Prix - États-Unis - Modèles économétriques ram Dettes - États-Unis - Modèles économétriques ram Débiteur et créancier - États-Unis - Modèles économétriques ram Défaillance (finances) - États-Unis - Modèles économétriques ram Obligations (finances) - Cours - États-Unis - Modèles économétriques ram Risque - Modèles économétriques ram Ökonometrisches Modell Assets (Accounting) Prices United States Econometric models Bonds Prices United States Econometric models Debt United States Econometric models Debtor and creditor United States Econometric models Default (Finance) United States Econometric models Risk Econometric models USA Jermann, Urban J. Verfasser (DE-588)129560782 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 6953 (DE-604)BV002801238 6953 http://papers.nber.org/papers/w6953.pdf kostenfrei Volltext |
| spellingShingle | Alvarez, Fernando 1964- Jermann, Urban J. Quantitative asset pricing implications of endogenous solvency constraints National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Actif (comptabilité) - Prix - États-Unis - Modèles économétriques ram Dettes - États-Unis - Modèles économétriques ram Débiteur et créancier - États-Unis - Modèles économétriques ram Défaillance (finances) - États-Unis - Modèles économétriques ram Obligations (finances) - Cours - États-Unis - Modèles économétriques ram Risque - Modèles économétriques ram Ökonometrisches Modell Assets (Accounting) Prices United States Econometric models Bonds Prices United States Econometric models Debt United States Econometric models Debtor and creditor United States Econometric models Default (Finance) United States Econometric models Risk Econometric models |
| title | Quantitative asset pricing implications of endogenous solvency constraints |
| title_auth | Quantitative asset pricing implications of endogenous solvency constraints |
| title_exact_search | Quantitative asset pricing implications of endogenous solvency constraints |
| title_full | Quantitative asset pricing implications of endogenous solvency constraints Fernando Alvarez ; Urban J. Jermann |
| title_fullStr | Quantitative asset pricing implications of endogenous solvency constraints Fernando Alvarez ; Urban J. Jermann |
| title_full_unstemmed | Quantitative asset pricing implications of endogenous solvency constraints Fernando Alvarez ; Urban J. Jermann |
| title_short | Quantitative asset pricing implications of endogenous solvency constraints |
| title_sort | quantitative asset pricing implications of endogenous solvency constraints |
| topic | Actif (comptabilité) - Prix - États-Unis - Modèles économétriques ram Dettes - États-Unis - Modèles économétriques ram Débiteur et créancier - États-Unis - Modèles économétriques ram Défaillance (finances) - États-Unis - Modèles économétriques ram Obligations (finances) - Cours - États-Unis - Modèles économétriques ram Risque - Modèles économétriques ram Ökonometrisches Modell Assets (Accounting) Prices United States Econometric models Bonds Prices United States Econometric models Debt United States Econometric models Debtor and creditor United States Econometric models Default (Finance) United States Econometric models Risk Econometric models |
| topic_facet | Actif (comptabilité) - Prix - États-Unis - Modèles économétriques Dettes - États-Unis - Modèles économétriques Débiteur et créancier - États-Unis - Modèles économétriques Défaillance (finances) - États-Unis - Modèles économétriques Obligations (finances) - Cours - États-Unis - Modèles économétriques Risque - Modèles économétriques Ökonometrisches Modell Assets (Accounting) Prices United States Econometric models Bonds Prices United States Econometric models Debt United States Econometric models Debtor and creditor United States Econometric models Default (Finance) United States Econometric models Risk Econometric models USA |
| url | http://papers.nber.org/papers/w6953.pdf |
| volume_link | (DE-604)BV002801238 |
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