Labor Market Polarization and Student Debt
Sanket Korgaonkar, Elena Loutskina, Constantine Yannelis
SSRN Working Paper,
2024
Abstract
This paper uses a new empirical design to explore how labor market polarization affects individuals’ incentive to pursue education funded on the margin by student debt. We argue that the labor market polarization–where automation replaces mid-skill and mid-education-level job–changes the marginal benefits of education and training and sharpens incentives to incur student debt. We advance a new measure of labor market polarizations that allows to capture the heterogeneity of this phenomena across geographies and time. Using this measure, we find that U.S. CBSAs that experience deeper labor market polarization see an increase in student debt balances and in the number of people pursuing student debt. On average, the decline in middle-skill jobs and wages has little effect on individuals’ ability to pay down existing student debt. The effects are most pronounced in ZIP codes with lower average credit scores, lower incomes, and higher share of the minority population.
Read article
"Let Me Get Back to You" — A Machine Learning Approach to Measuring NonAnswers
Andreas Barth, Sasan Mansouri, Fabian Wöbbeking
Management Science,
No. 10,
2023
Abstract
Using a supervised machine learning framework on a large training set of questions and answers, we identify 1,364 trigrams that signal nonanswers in earnings call questions and answers (Q&A). We show that this glossary has economic relevance by applying it to contemporaneous stock market reactions after earnings calls. Our findings suggest that obstructing the flow of information leads to significantly lower cumulative abnormal stock returns and higher implied volatility. As both our method and glossary are free of financial context, we believe that the measure is applicable to other fields with a Q&A setup outside the contextual domain of financial earnings conference calls.
Read article
Durch eine Ausbildung erworbene Kompetenzen zahlen sich auf dem Arbeitsmarkt aus
Christina Langer, Jakob Peiffer, Simon Wiederhold
ifo Schnelldienst,
No. 7,
2023
Abstract
Ein Großteil der Jugendlichen in Deutschland beginnt nach der Schule eine duale Berufsausbildung. Die Inhalte dieser Berufsausbildungen und die dort vermittelten Kompetenzen sind bundesweit einheitlich in Ausbildungsplänen geregelt. Wir erfassen insgesamt mehr als 13 000 verschiedene Kompetenzen aus diesen Ausbildungsplänen, sowie deren genaue Lerndauer. Vor allem kognitive, soziale und digitale Kompetenzen, die während der Ausbildung erworben wurden, zahlen sich auf dem Arbeitsmarkt aus. Dabei steigen die Einkommenserträge höherer Kompetenzen über die Karriere hinweg an. Das zeigt unsere Analyse der Ausbildungsplandaten kombiniert mit administrativen Lohndaten des Instituts für Arbeitsmarkt- und Berufsforschung (IAB) über einen Zeitraum von insgesamt 30 Jahren. Außerdem dokumentieren wir steigende Erträge von digitalen und sozialen Kompetenzen seit den 1990er Jahren, während die Erträge von kognitiven Kompetenzen nur geringfügig zugenommen haben.
Read article
DPE Course Programme Archive
DPE Course Programme Archive 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2024 Macroeconomics several lecturers summer term 2024 (IWH) Macroeconomics with…
See page
Lecturers
Lecturers at CGDE Institutions Jordan Adamson Assistant Professor at Institute for Empirical Economic Research, Leipzig University. Website Course: Econometrics (winter term…
See page
IWH Infothek
IWH Infothek Board Announcements Logout Research IWH-DPE Equal Opportunities and Diversity IT Information Public Relations Third Party Funds Human Resources Budget Library…
See page
IWH Doctoral Programme in Economics
Why Doctoral Studies at IWH? The IWH Doctoral Programme in Economics – one of the Top 20 places to do a PhD ( INOMICS Career Guide 2023 ) The Halle Institute for Economic Research…
See page
DPE Course Programme Archive
DPE Course Programme Archive 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2023 Microeconomics several lecturers winter term 2023/2024 (IWH) Econometrics several…
See page
IWH Doctoral Programme in Economics
Why Doctoral Studies at IWH? The IWH Doctoral Programme in Economics – one of the Top 20 places to do a PhD ( INOMICS Career Guide 2023 ) The Halle Institute for Economic Research…
See page
Lecturers
Lecturers at CGDE Institutions Jordan Adamson Assistant Professor at Institute for Empirical Economic Research, Leipzig University. Website Course: Econometrics (winter term…
See page