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Permanent URI for this collectionhttps://hdl.handle.net/20.500.14288/3
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Publication Metadata only Multi-dimensional skills, specialization, and oligopolistic competition in higher education(Elsevier, 2010) Department of Economics; Sarpça, Sinan; Faculty Member; Department of Economics; College of Administrative Sciences and Economics; 52406This paper develops a differentiated products model of school competition that distinguishes among different dimensions that matter in the skill acquisition process. The model predicts that when identical schools compete for students, specialization may arise as a competition strategy. This serves rich students' education goals well. Poorer students, however, may attend schools with specializations that do not cater to their relative strengths. By doing so, these poorer students complement the weaknesses of the richer students through peer effects and receive financial aid in return. The empirical analysis provides strong support for the model's predictions about within-school implications of specialization.Publication Metadata only Foreign ownership, survival and growth dynamics in Turkish manufacturing(Routledge, 2014) Taymaz, Erol; Department of Economics; Yılmaz, Kamil; Faculty Member; Department of Economics; College of Administrative Sciences and Economics; 6111The chapter is organized as follows. Section 11.2 provides a brief overview of FDI flows to Turkey followed by brief information on the establishment-level Turkish manufacturing industry data used in empirical analysis. Section 11.3 presents the model and results of the firm survival dynamics. Section 11.4 presents the estimation model and results on the employment growth of domestic and foreign firms. Section 11.5 concludes the chapter.Publication Metadata only Asymmetric response to monetary policy surprises at the long-end of the yield curve(Louisiana State University Press, 2012) Department of Economics; Department of Economics; Demiralp, Selva; Yılmaz, Kamil; Faculty Member; Faculty Member; Department of Economics; College of Administrative Sciences and Economics; College of Administrative Sciences and Economics; 42533; 6111This paper investigates the responsiveness of asset markets to monetary policy path revisions. Using federal funds futures contracts to extract near-term path revisions, we find that the responsiveness of longer term Treasury securities to path revisions is significantly asymmetric, the magnitude of which increases during tightenings and decreases during easings. These findings blend nicely with the earlier literature that documents asymmetric effects of monetary policy on output. (C) 2012 Elsevier Inc. All rights reserved.Publication Metadata only The hazards of training: attrition and retention in construction industry apprenticeship programs(Sage, 2003) Department of Economics; Bilginsoy, Cihan; Other; Department of Economics; College of Administrative Sciences and Economics; N/AApprenticeship programs in the United States, which provide workers with the broad-based skills required for practicing a trade via on-the-job training, are sponsored either unilaterally by employers or jointly by employers and trade unions. A comparison of the attrition and retention rates in these programs shows that program completion is more likely for apprentices in joint programs than for similar apprentices in unilateral programs. Rates of completion are lower for women than for men, and lower for ethnic and racial minorities than for whites. Apprenticeship duration rises with the unemployment rate.Publication Metadata only Empirical identification of the vector autoregression: the causes and effects of us M2(Oxford University Press, 2009) Hoover, Kevin D.; Perez, Stephen J.; Department of Economics; Demiralp, Selva; Faculty Member; Department of Economics; College of Administrative Sciences and Economics; 42533The M2 monetary aggregate is monitored by the Federal Reserve, using a broad brush theoretical analysis and an informal empirical analysis. This chapter illustrates empirical identification of an eleven-variable system, in which M2 and the factors that the Fed regards as causes and effects are captured in a vector autoregression. Taking account of cointegration, the methodology combines recent developments in graph-theoretical causal search algorithms with a general-to-specific search algorithm to identify a fully specified structural vector autoregression (SVAR). The SVAR is used to examine the causes and effects of M2 in a variety of ways. The chapter concludes that while the Fed has rightly identified a number of special factors that influence M2 and while M2 detectably affects other important variables, there is 1) little support for the core quantity-theoretic approach to M2 used by the Fed; and 2) M2 is a trivial linkage in the transmission mechanism from monetary policy to real output and inflation.Publication Metadata only On the cultural basis of gender differences in negotiation(Springer, 2018) Andersen, Steffen; Gneezy, Uri; List, John A.; Maximiano, Sandra; Department of Economics; Ertaç, Seda; Faculty Member; Department of Economics; College of Administrative Sciences and Economics; 107102We study how culture and social structure influence bargaining behavior across gender, by exploring the negotiation culture in matrilineal and patriarchal societies using data from a laboratory experiment and a natural field experiment. One interesting result is that in both the actual marketplace and in the laboratory bargaining game, women in the matrilineal society earn more than men, at odds with years of evidence observed in the western world. We find that this result is critically driven by which side of the market the person is occupying: female (male) sellers in the matrilineal (patriarchal) society extract more of the bargaining surplus than male (female) sellers. In the buyer role, however, we observe no significant differences across societies.Publication Metadata only International students and labour marketoutcomes of US-born workers(Wiley, 2020) Department of Economics; Demirci, Murat; Faculty Member; Department of Economics; College of Administrative Sciences and Economics; 272082Do international students graduating from US colleges and universities affect labour market outcomes of similarly educated native-born workers? I address this question by exploiting a change in US visa policy that results in increases in the labour supply of master's-level international students to the US labour market in science, technology, engineering and mathematics (STEM) fields. Estimates show that increases in their labour supply via temporary work permits in a certain field reduce employment of recently graduated native-born holders of a master's degree but increase earnings of experienced native-born holders of a master's degree in the same field. These findings support the hypothesis of substitution between skills of similarly educated immigrants and native-born individuals in the same age group and complementarity between skills of those in different age groups. Resume etudiants internationaux et debouches sur le marche du travail pour les citoyens nes aux etats-Unis. A diplome egal, les etudiants internationaux sortant des universites et colleges americains ont-ils un impact sur les debouches des travailleurs nes dans le pays sur le marche de l'emploi? Je pose cette question en exploitant les changements en matiere de politique de visas aux etats-Unis ayant eu pour consequence une augmentation du nombre d'etudiants qui detient une maitrise sur le marche du travail americain, notamment dans les secteurs des sciences, des technologies, de l'ingenierie et des mathematiques (STIM). Dans certains secteurs, les evaluations montrent que l'augmentation de la main d'oeuvre decoulant de l'octroi de permis de travail temporaires a engendre une reduction du nombre d'emplois devolus aux detenteurs d'une maitrise fraichement diplomes et nes dans le pays, tout en permettant aux plus competents d'entre eux d'augmenter leurs revenus. Ces constatations soutiennent l'hypothese d'une substitution entre les competences des immigrants et celles des natifs a diplome egal pour un meme groupe d'age, et d'une complementarite differents groupes d'age.Publication Metadata only Monetary rewards in employee referral programs(Wiley, 2022) Department of Economics; Ekinci, Emre; Faculty Member; Department of Economics; College of Administrative Sciences and Economics; 309364This paper examines the conditions under which employee referrals serve as a screening function when there is a conflict of interest between the firm and the current employees concerning referral recruitment. In particular, I consider two potential mechanisms that lead to a conflict of interest: the employee's social connection with the applicant and her promotion prospects. Specifically, I posit that the employee will have an incentive to refer low-ability applicants if she has a strong social connection with them or if she faces the possibility of competing against her own referral to earn a promotion at the firm. Taking these potential sources for conflicting interests, I investigate the extent to which the firm can make use of financial incentives (fixed fees and bonuses) to align incentives of the employee with those of the firm.Publication Metadata only The conditional beta and the cross-section of expected returns(Wiley, 2009) Cakici, Nusret; Tang, Yi; Department of Economics; Bali, Turan; Other; Department of Economics; College of Administrative Sciences and Economics; N/AWe examine the cross-sectional relation between conditional betas and expected stock returns for a sample period of July 1963 to December 2004. Our portfolio-level analyses and the firm-level cross-sectional regressions indicate a positive, significant relation between conditional betas and the cross-section of expected returns. The average return difference between high- and low-beta portfolios ranges between 0.89% and 1.01% per month, depending on the time-varying specification of conditional beta. After controlling for size, book-to-market, liquidity, and momentum, the positive relation between market beta and expected returns remains economically and statistically significant.Publication Metadata only An exploration in school formation: income vs. ability(2012) Alkan, Ahmet; Anbarcı, Nejat; Department of Economics; Sarpça, Sinan; Faculty Member; Department of Economics; College of Administrative Sciences and Economics; 52406We study stable school formation among four students that differ in ability and income. In the presence of ability complementarities and school costs to be shared, we identify the conditions under which a stable allocation is efficient, inefficient, nonexistent, and tell who become peers.