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Journal Cover CESifo Economic Studies
  [SJR: 0.501]   [H-I: 19]   [17 followers]  Follow
   Hybrid Journal Hybrid journal (It can contain Open Access articles)
   ISSN (Print) 1610-241X - ISSN (Online) 1612-7501
   Published by Oxford University Press Homepage  [393 journals]
  • Does Increasing Compulsory Education Decrease or Displace Adolescent
           Crime' New Evidence from Administrative and Victimization Data
    • Authors: Brilli Y; Tonello M.
      Pages: 15 - 49
      Abstract: This article estimates the contemporaneous effect of education on adolescent crime by exploiting the implementation a reform that increases the school leaving age in Italy by 1 year. We find that the Reform increases the enrollment rate of all ages but decreases the offending rate of 14-year-olds only, who are the age group explicitly targeted by the Reform. The effect mainly comes from natives males, while females and immigrants are not affected. The Reform does not induce crime displacement in times of the year or of the day when the school is not in session, but it increases violent crimes at school. By using measures of enrollment and crime, as well as data at the aggregate and individual level, this article shows that compulsory education reforms have a crime-reducing effect induced by incapacitation but may also lead to an increase of crimes in school facilities plausibly due to a higher concentration of students. (JEL codes: I28, J13, K42, R10).
      PubDate: Sat, 17 Feb 2018 00:00:00 GMT
      DOI: 10.1093/cesifo/ifx027
      Issue No: Vol. 64, No. 1 (2018)
  • Financial Intermediation, the Mortgage Market, and Macroprudential
    • Authors: Körner J.
      Pages: 50 - 77
      Abstract: This article analyzes the effects of macroprudential regulation in a dynamic stochastic general equilibrium model (DSGE) model with a mortgage market where banks and borrowers are subject to a leverage constraint. I evaluate the economic impact of (i) a countercyclical non-risk-adjusted bank capital (BC) requirement ratio, (ii) a countercyclical loan-to-value ratio (LTV), and (iii) both rules during economic and financial downturns. The model simulations show two main results. First, the LTV-rule mitigates the volatility of credit more effectively than the BC regulation because the relaxed collateral limit on the LTV ratio stimulates credit demand. The inverse relation of leverage definitions accounts for the stronger de-amplification stemming from countercyclical leverage constraints of borrowers. Second, if the financial shock affects the macroeconomy exclusively over the private mortgage market, neither of both rules attenuates the negative output effect, since borrowers and savers consumption effects cancel out. These results reveal that countercyclical regulation of borrowers represents an important complement to BC-regulation for safeguarding financial stability. (JEL codes: E44, E32, G21, G28).
      PubDate: Fri, 02 Mar 2018 00:00:00 GMT
      DOI: 10.1093/cesifo/ify005
      Issue No: Vol. 64, No. 1 (2018)
  • Performance Pay Jobs and Job Satisfaction
    • Authors: Ledić M.
      Pages: 78 - 102
      Abstract: In recent decades there have been a growing number of studies that investigated the effects of personal and job characteristics on the subjective well-being on the job. Besides, the empirical findings reveal that workers who are paid on the piece rates exert more effort and earn more than those workers paid an hourly salary. Since the possible effects of performance paying jobs on the well-being of workers stay hidden, we have tackled the following issue by providing the effects that the performance pay job schemes have on job satisfaction. We have used the Korean Labour and Income Panel Survey which allowed us to distinguish between the workers who are paid by performance and those who are paid by fixed rate. We have shown that workers in the performance pay job schemes have a higher subjective well-being on the job than workers who are using the non-performance pay job schemes. The following result holds true even after we have controlled for the level of earnings, attitudes towards risk, and other personal and job-related characteristics. Finally, we have exploited the information on the type of performance pay schemes to analyse how different performance pay schemes affect job satisfaction. The results have shown that workers who are employed on either individual or group or company performance pay job schemes are more satisfied on their job than workers who are paid by the fixed amount. (JEL codes: I31, J33, J28).
      PubDate: Thu, 22 Mar 2018 00:00:00 GMT
      DOI: 10.1093/cesifo/ify008
      Issue No: Vol. 64, No. 1 (2018)
  • The German Language Worldwide: a New Data Set on Language Learning
    • Authors: Uebelmesser S; Huber M, Weingarten S.
      Pages: 103 - 121
      Abstract: This article presents a comprehensive overview of German language learning for more than 100 countries (including Germany) over a period of 50 years. We provide new and unique data from the Goethe Institut, a German cultural institute, which offers language courses and standardized exams. These data contain information about the supply of language learning opportunities, that is the number and the geographic distribution of institutes, and the demand in the form of course and exam registrations. These data do not only show the development of language learning for the German language over time, they also underline common trends and heterogeneities across regions. (JEL codes: C82, Y10, F15, F22).
      PubDate: Fri, 09 Mar 2018 00:00:00 GMT
      DOI: 10.1093/cesifo/ify007
      Issue No: Vol. 64, No. 1 (2018)
  • Corrective Taxation and Internalities from Food Consumption
    • Authors: Griffith R; O’Connell M, Smith K.
      Pages: 1 - 14
      Abstract: Corrective taxes have been implemented in a number of countries with the aim of addressing growing concern about the rise in obesity- and diet-related diseases. The rationale is that food consumption imposes costs on the consumer in the future that they do not fully take into account at the point of consumption (‘internalities’). Corrective taxes have the potential to improve welfare by reducing suboptimally high consumption. We review the literature on the size of these internalities and on the optimal corrective tax, which depends on the patterns of internalities, the price responsiveness of consumers, and on redistributive aims. (JEL classification: H2, D9)
      PubDate: Mon, 20 Nov 2017 00:00:00 GMT
      DOI: 10.1093/cesifo/ifx018
      Issue No: Vol. 64, No. 1 (2017)
School of Mathematical and Computer Sciences
Heriot-Watt University
Edinburgh, EH14 4AS, UK
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