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: | kostenfrei |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
MARC
| LEADER | 00000nam a2200000 cb4500 | ||
|---|---|---|---|
| 001 | BV012667342 | ||
| 003 | DE-604 | ||
| 005 | 20090323 | ||
| 007 | t | ||
| 008 | 990719s1999 xxud||| |||| 00||| engod | ||
| 035 | |a (OCoLC)41214622 | ||
| 035 | |a (DE-599)BVBBV012667342 | ||
| 040 | |a DE-604 |b ger |e rakddb | ||
| 041 | 0 | |a eng | |
| 044 | |a xxu |c XD-US | ||
| 049 | |a DE-473 |a DE-19 |a DE-521 | ||
| 050 | 0 | |a HB1 | |
| 084 | |a QB 910 |0 (DE-625)141231: |2 rvk | ||
| 100 | 1 | |a Alvarez, Fernando |d 1964- |e Verfasser |0 (DE-588)12855178X |4 aut | |
| 245 | 1 | 0 | |a Quantitative asset pricing implications of endogenous solvency constraints |c Fernando Alvarez ; Urban J. Jermann |
| 264 | 1 | |a Cambridge, Mass. |c 1999 | |
| 300 | |a 63 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 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. | ||
| 650 | 7 | |a Actif (comptabilité) - Prix - États-Unis - Modèles économétriques |2 ram | |
| 650 | 7 | |a Dettes - États-Unis - Modèles économétriques |2 ram | |
| 650 | 7 | |a Débiteur et créancier - États-Unis - Modèles économétriques |2 ram | |
| 650 | 7 | |a Défaillance (finances) - États-Unis - Modèles économétriques |2 ram | |
| 650 | 7 | |a Obligations (finances) - Cours - États-Unis - Modèles économétriques |2 ram | |
| 650 | 7 | |a Risque - Modèles économétriques |2 ram | |
| 650 | 4 | |a Ökonometrisches Modell | |
| 650 | 4 | |a Assets (Accounting) |x Prices |z United States |x Econometric models | |
| 650 | 4 | |a Bonds |x Prices |z United States |x Econometric models | |
| 650 | 4 | |a Debt |z United States |x Econometric models | |
| 650 | 4 | |a Debtor and creditor |z United States |x Econometric models | |
| 650 | 4 | |a Default (Finance) |z United States |x Econometric models | |
| 650 | 4 | |a Risk |x Econometric models | |
| 651 | 4 | |a USA | |
| 700 | 1 | |a Jermann, Urban J. |e Verfasser |0 (DE-588)129560782 |4 aut | |
| 776 | 0 | 8 | |i Erscheint auch als |n Online-Ausgabe |
| 830 | 0 | |a National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |v 6953 |w (DE-604)BV002801238 |9 6953 | |
| 856 | 4 | 1 | |u http://papers.nber.org/papers/w6953.pdf |z kostenfrei |3 Volltext |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-008608193 | ||
Datensatz im Suchindex
| DE-473_call_number | 30/QB 910 WW 4149-6953 |
|---|---|
| DE-473_location | 0 |
| DE-BY-UBG_katkey | 1626661 |
| DE-BY-UBG_media_number | 013903601346 |
| _version_ | 1811358649441845249 |
| any_adam_object | |
| author | Alvarez, Fernando 1964- Jermann, Urban J. |
| author_GND | (DE-588)12855178X (DE-588)129560782 |
| author_facet | Alvarez, Fernando 1964- Jermann, Urban J. |
| author_role | aut aut |
| author_sort | Alvarez, Fernando 1964- |
| author_variant | f a fa u j j uj ujj |
| building | Verbundindex |
| bvnumber | BV012667342 |
| callnumber-first | H - Social Science |
| callnumber-label | HB1 |
| callnumber-raw | HB1 |
| callnumber-search | HB1 |
| callnumber-sort | HB 11 |
| callnumber-subject | HB - Economic Theory and Demography |
| classification_rvk | QB 910 |
| ctrlnum | (OCoLC)41214622 (DE-599)BVBBV012667342 |
| discipline | Wirtschaftswissenschaften |
| format | Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>03164nam a2200517 cb4500</leader><controlfield tag="001">BV012667342</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">20090323 </controlfield><controlfield tag="007">t</controlfield><controlfield tag="008">990719s1999 xxud||| |||| 00||| engod</controlfield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)41214622</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV012667342</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rakddb</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="044" ind1=" " ind2=" "><subfield code="a">xxu</subfield><subfield code="c">XD-US</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-473</subfield><subfield code="a">DE-19</subfield><subfield code="a">DE-521</subfield></datafield><datafield tag="050" ind1=" " ind2="0"><subfield code="a">HB1</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">QB 910</subfield><subfield code="0">(DE-625)141231:</subfield><subfield code="2">rvk</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Alvarez, Fernando</subfield><subfield code="d">1964-</subfield><subfield code="e">Verfasser</subfield><subfield code="0">(DE-588)12855178X</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Quantitative asset pricing implications of endogenous solvency constraints</subfield><subfield code="c">Fernando Alvarez ; Urban J. Jermann</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Cambridge, Mass.</subfield><subfield code="c">1999</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">63 S.</subfield><subfield code="b">graph. Darst.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="1" ind2=" "><subfield code="a">National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series</subfield><subfield code="v">6953</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="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.</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Actif (comptabilité) - Prix - États-Unis - Modèles économétriques</subfield><subfield code="2">ram</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Dettes - États-Unis - Modèles économétriques</subfield><subfield code="2">ram</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Débiteur et créancier - États-Unis - Modèles économétriques</subfield><subfield code="2">ram</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Défaillance (finances) - États-Unis - Modèles économétriques</subfield><subfield code="2">ram</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Obligations (finances) - Cours - États-Unis - Modèles économétriques</subfield><subfield code="2">ram</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Risque - Modèles économétriques</subfield><subfield code="2">ram</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Ökonometrisches Modell</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Assets (Accounting)</subfield><subfield code="x">Prices</subfield><subfield code="z">United States</subfield><subfield code="x">Econometric models</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Bonds</subfield><subfield code="x">Prices</subfield><subfield code="z">United States</subfield><subfield code="x">Econometric models</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Debt</subfield><subfield code="z">United States</subfield><subfield code="x">Econometric models</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Debtor and creditor</subfield><subfield code="z">United States</subfield><subfield code="x">Econometric models</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Default (Finance)</subfield><subfield code="z">United States</subfield><subfield code="x">Econometric models</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Risk</subfield><subfield code="x">Econometric models</subfield></datafield><datafield tag="651" ind1=" " ind2="4"><subfield code="a">USA</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Jermann, Urban J.</subfield><subfield code="e">Verfasser</subfield><subfield code="0">(DE-588)129560782</subfield><subfield code="4">aut</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Erscheint auch als</subfield><subfield code="n">Online-Ausgabe</subfield></datafield><datafield tag="830" ind1=" " ind2="0"><subfield code="a">National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series</subfield><subfield code="v">6953</subfield><subfield code="w">(DE-604)BV002801238</subfield><subfield code="9">6953</subfield></datafield><datafield tag="856" ind1="4" ind2="1"><subfield code="u">http://papers.nber.org/papers/w6953.pdf</subfield><subfield code="z">kostenfrei</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-008608193</subfield></datafield></record></collection> |
| geographic | USA |
| geographic_facet | USA |
| id | DE-604.BV012667342 |
| illustrated | Illustrated |
| index_date | 2024-09-19T15:08:40Z |
| indexdate | 2024-09-27T16:08:09Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-008608193 |
| oclc_num | 41214622 |
| open_access_boolean | 1 |
| owner | DE-473 DE-BY-UBG DE-19 DE-BY-UBM DE-521 |
| owner_facet | DE-473 DE-BY-UBG DE-19 DE-BY-UBM DE-521 |
| physical | 63 S. graph. Darst. |
| publishDate | 1999 |
| publishDateSearch | 1999 |
| publishDateSort | 1999 |
| record_format | marc |
| series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| series2 | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| 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 |
| work_keys_str_mv | AT alvarezfernando quantitativeassetpricingimplicationsofendogenoussolvencyconstraints AT jermannurbanj quantitativeassetpricingimplicationsofendogenoussolvencyconstraints |