AN ECONOMISTS' VIEW OF SCHOOLING SYSTEMS


 Virginia Nelson
 3 years ago
 Views:
Transcription
1 AN ECONOMISTS' VIEW OF SCHOOLING SYSTEMS 1 Lous LévyGarboua TEAM, CNRS and Unversty of Pars I PanthéonSorbonne Nathale Damoselet Mnstère de l Educaton and Unversty of Pars VRené Descartes Gérard Lassblle, Insttut de Recherche sur l Econome de l Educaton (IREDU), CNRS, Djon (France) Luca NavarroGomez Unversty of Malaga, Span Summary Ths paper presents a smple theory of schoolng systems based on the assumpton that schoolng systems produce two knds of human captal: a general abltyenhancng knowledge referred to as "educaton", and many types of skllspecfc knowledge referred to as vocatonal "tranng". The theory predcts that the dfferentaton of supply of tranng leads to the expanson of general educaton as well as tranng. If skllspecfc talents can be detected later than the general ablty, early sortng of pupls by ablty wll not be effcent. The dualty and effcency of school producton s llustrated by a sample of 16 schoolng systems of ndustralsed countres. Keywords: schoolng systems, educaton and tranng, dfferentaton, sortng, effcency.
2 1. Introducton 2 The am of the present paper s to provde a smple theory and descrpton of schoolng systems from an economc perspectve. The theory dstngushes between educaton and tranng, whch may be combned n varous proportons by schoolng systems for the producton of dfferentated sklls. The descrpton s based on a coresample of sxteen ndustralsed countres whch was determned by the avalablty of comparable data from varous sources and the answers gven by educaton experts to a questonnare talored to our needs 1. The sxteen countres formng our sample are Austra, Canada, France, Germany, Greece, Hungary, Italy, Japan, Netherlands, Norway, Portugal, the Russan Federaton, Span, Sweden, UK, USA. The consderable dfferentaton typcally observed n schoolng systems s nconsstent wth the assumpton of homogeneous human captal made n much of economc lterature. Thus secton 2 presents a smple economc theory of schoolng systems relaxng ths assumpton and makng an mportant dstncton between the provson of general educaton and vocatonal tranng. In secton 3, we show a varety of ndexes of average educaton, skll (human captal at market value), and types of dfferentaton and screenng for our man sample of sxteen countres. Then secton 4 relates productve effcency at country level wth the dfferentaton of schoolng systems. Our man conclusons are summarsed n secton A smple theory of schoolng systems A schoolng system s the nsttuton whch allocates socal knowledge prmarly to young ndvduals. Drawng on Becker s (1964) semnal dstncton between general and specfc human captal, we may say that schoolng provdes both general knowledge and occupatonspecfc knowledge. General knowledge can be used n all frms and all occupatons, whle occupatonspecfc knowledge can be used n all frms but only n specfc occupatons (note that frmspecfc knowledge cannot be provded by the schoolng system). We focus our
3 3 attenton here on the dual provson of general and occupatonspecfc,.e. vocatonal, knowledge by schoolng systems above the commoncore syllabus. The standard assumpton of homogeneous human captal and capactes tends to understate the extent of optmal dfferentaton of schoolng systems 2. Under ths standard assumpton, a dfferentated schoolng system would be descrbed as a commoncore syllabus followed by a varety of vocatonal currcula of optonal length. But ths s not a good descrpton of what schoolng systems actually offer. What s beng observed s that students may decde to receve further general educaton before they engage n vocatonal tranng. Further educaton s seen as a general but optonal prerequste for enhancng the acquston of sklls by vocatonal tranng. 2.1 The basc model It wll be assumed that the schoolng system provdes, above the commoncore educaton, both further general educaton E and a varety of skllspecfc tranng T, = (1,..., s) at unt prce. Each pupl combnes school nputs wth hs own capactes to embody one of the s dfferentated sklls S. We wrte the skll s ndvdual producton functon as β S ( E, T ) = t A( E) T, (1) where t (>0) s a gven specfc capacty, called talent, A (E) desgnates the ndvdual s general ablty, and 0 < β < 1. The crucal assumpton we make s that the general ablty s not entrely gven by brth and cultural transmsson, but also captures the learnng skll acqured through educaton wth S ( E) 0, and S (0) 1. ' 0 0 = A ( E ) S 0( E ) (2) The general learnng skll unformly rases the margnal productvty of tranng n the acquston of all nonlearnng sklls. It s assumed to be a nondecreasng concave functon of the amount of further educaton, for nstance
4 α S 0 ( E) = 1+ ae, (3) 4 wth a > 0, 0 α < 1. The parameter a descrbes the student s cogntve ablty by the end of the commoncore educaton. We shall further assume that there are a small number of paths leadng to the producton of any skll due to large setup costs n the producton of educaton. For nstance, E mght only take two values, 0 or 1, f students are gven a choce among pure tranng and one perod of general educaton followed by tranng. We do not make the same assumpton for tranng because tranng s partly suppled by frms as a jont product of ther actvty. Thus, the amount of tranng s chosen optmally by each ndvdual. Fnally, we assume decreasng margnal returns on both educaton and tranng, and the Inada condton ' ( E,0) = +. The ratonal behavour of a student s descrbed by the choce of skll type and school nputs E and T whch maxmse the net returns from hs general educaton and vocatonal tranng on the dscrete set of educatonal optons E = ( 0,1,..., n) S max, E, T p S ( E, T ) E T (4) subject to (1), (2), (3), and nonnegatvty constrants on the amount of tranng T 0. The Inada condton ensures that some tranng wll always be provded T > 0. It should be noted that the specfc talent t and the prce of skll (.e. specfc human captal), p, cannot be ndependently dentfed 3. Henceforth, n the followng paragraphs, we drop the latter varable and adopt a nomnal defnton of specfc talents (.e. p t ). Thus a 1% ncrease of the rate of return to skll results n an equal rse of specfc talent for all students, and a 1% ncrease n the borrowng rate of a student, reflectng the latter s dmnshng opportuntes, entals a 1% declne of all hs nomnal talents. Although the present analyss emphasses varatons of specfc talents among students, we should not forget that varatons of the rates of return on
5 5 sklls and of the average borrowng rate may also have large aggregate effects on the outputs of schoolng systems n a crosscountry comparson. The conclusons that would be drawn from the model by omttng prce effects would only hold for countres of smlar ncome level per capta nsofar that the dstrbuton of opportuntes may then be assumed to vary lttle between these countres. For space lmtatons, all proofs are omtted here but can be found n our workng paper (LévyGarboua et al 2002). The soluton of program (4) has ntutve appeal. Students ratonal behavour may be descrbed as f they frst chose the specfc occupaton for whch they have more (nomnal) talent. Then, they choose the optmal mx of educaton and tranng condtonal on ths choce of occupaton. The man proposton follows: PROPOSITION 1 If cogntve abltes and skllspecfc talents dffer among students but are perfectly known both by themselves and by schools, t s not optmal to sort students nto the more general and the vocatonal path on the bass of ther cogntve ablty alone. The optmal sortng rule s descrbed by the followng condton, whch combnes nformaton on cogntve ablty and skllspecfc talents: β β 1 β β 1 1 β β t. ( 1+ a) 1 β 1 > 1 Moreover, students who prefer the educatoncumtranng path always engage n longer specfc tranng and, a fortor, n longer studes than those engaged n pure tranng. The latter predcton s n lne wth countless observatons of complementarty between educaton and tranng. Besdes, snce the more talent a student has for a skll, the more he wll be nclned to opt for educaton (proposton1), ths has an mportant corollary: COROLLARY The dfferentaton of vocatonal studes ncreases the demand for general educaton (and longer studes), for gven dstrbutons of cogntve abltes and skllspecfc talents.
6 6 We beleve that ths corollary provdes a strong and, to some extent, new ratonale for the vocatonalsaton and lengthenng of studes, as well as the massfcaton of further general educaton that took place n ndustralsed countres. 2.2 Screenng In actual practce, schools and unverstes screen students who are not perfectly aware of ther cogntve ablty and skllspecfc talents. Because the general ablty apples to a great many tasks, t wll often be detected early n the course of commoncore (.e. prmary and lower secondary) educaton. On the other hand, the assessment of an ndvdual s returnmaxmsng skllspecfc talent must often awat the later dfferentaton of currcula snce each talent can only be detected on a sngle set of tasks. The present dscusson s summarsed by the followng assumpton: ASSUMPTION Students returnmaxmsng skllspecfc talents cannot be detected as early as ther cogntve ablty. The presence of a lag between the tmes when general ablty and talents can be detected precsely generates a tradeoff between the frstbest choces of educaton and skll. PROPOSITION 2 As far as educaton s concerned, early screenng by general ablty s optmal as soon as ths can be detected. However, such early screenng s neffcent as far as the producton of sklls s concerned, for whch screenng should occur later on. The postponement of screenng untl the upper secondary level, where talents can be assessed wth some precson, has often been advocated as a means of reducng nequalty.
7 7 However t may also be justfed for effcency reasons f abltes and talents are not strongly correlated. Its adopton by market economes entals a vocatonalsaton of schools at the relatve expense of general educaton. Thus our theory relates the potental declne of educatonal standards to the postponement of dfferentaton by ablty untl occupatonspecfc talents can be assessed. 3. An economc descrpton of schoolng systems In order to show the relevance of our theoretcal dstncton between educaton and tranng for understandng the productve effcency of schoolng systems, we must measure these two outputs of schoolng systems and how the latter dfferentate n matchng heterogeneous capactes and sklls. The approprate ndcators have been derved from avalable statstcs and the answers of selected educaton experts to a questonnare. Twentythree experts 4 from sxteen OECD countres flled ths questonnare n These sxteen countres form the man sample that wll be used below for statstcal analyss. 3.1 The producton of educaton and sklls Average scores obtaned n standardsed tests are commonly taken to be good ndcators of school performance, assumng that the dstrbuton of abltes between pupls s the same n all countres. However, the theoretcal dscusson of secton 2 makes t clear that they are not concerned wth vocatonal tranng and essentally descrbe the average level of the general ablty produced by general educaton. A better ndcator of market sklls, or total human captal per pupl, should reflect the market value of school outputs. (Insert table 1 about here) Varous measures of the producton and dstrbuton of human captal (educatoncumtranng) and ts educaton component appear n table 1 for our sample of sxteen ndustralsed countres. The most comprehensve ndex of total human captal per pupl at 1994 market value 5 (HTOT) s shown n column 1. It was derved from OECD s statstcs (0ECD 1996:tables R11.1, R12.1)
8 8 on the dstrbuton of graduate output between four hghest completed levels of educaton (lower secondary, upper secondary, nonunversty and unversty sector). Each level was mputed a market value ndex through the mean earnngs of employed male graduates of 25 to 64 years of age at ths level relatve to the mean earnngs at upper secondary level (OECD 1996 :table R22.1). A proxy for the same total human captal ndex one generaton back (HTOT0) was obtaned by weghtng the same value ndexes wth the dstrbuton of the populaton 25 to 64 years of age between the four levels of graduaton (OECD :table C1.1). The derved estmate of the rate of human captal growth per pupl n a generaton (.e. IH= (HTOTHTOT0)/HTOT0) s gven n column 2. Inequalty of the dstrbuton of human captal s summarsed n column 3 by the varance of the 1994 value ndexes between the four levels of graduaton (INEQ). The objectve growth of human captal s paralleled n column 4 wth an subjectve ndcator for the declne of educatonal standards, derved from the nformed opnon of the selected experts. Whle all of the sampled countres have undergone postve, and often substantal, growth n one generaton, educaton experts frequently expressed the opnon that educatonal standards had declned. An nterpretaton of the latter s percepton wll be gven n secton 4. Fnally, ths descrpton of the output of schoolng systems s completed n column 5 by the scores obtaned n standardsed mathematcs and scence tests by pupls at grade seven (SCORE), who are theoretcally thrteen years old. These results were gathered n for a sample of 24 countres by the Internatonal Assocaton for the Evaluaton of Educatonal Achevement n ts thrd nternatonal study on mathematcs and scence. These countres nclude our own sample of 16 countres, wth the excepton of Italy. We consder ths last varable to be a good aggregate ndex of the general ablty produced by educaton. (Insert fgure 1 about here) Clearly, HTOT and SCORE do not descrbe the same schoolng output. The rank correlaton (Spearman s rho) between these two varables s only (n=14) and the assumpton that they are stochastcally ndependent cannot be rejected. By plottng these two varables along two
9 9 axes, Fgure 1 shows that a parabolc relaton would ft the data better than a straght lne 6. Greece, Portugal, and Span, whch are the least developed countres of the sample, rank low along the two dmensons, Japan s clearly the hghest performer n the producton of educaton and Norway has the lead n the producton of sklls. If the three lowperformers were left out of the dagram, the slope would even become slghtly negatve. Whereas dfferences n opportuntes generate a postve correlaton of educaton and sklls, a negatve correlaton between educaton and sklls emerges from dstnctve patterns of dfferentaton across countres. 3.2 Dfferentaton and screenng If we use our theoretcal dstncton between one sngle general ablty and many knds of occupatonspecfc talents, we see that the sortng of students, whether t s by ablty or by talent, must produce sharply dfferent socal outcomes. Snce general ablty as opposed to occupatonspecfc talents possessed by an ndvdual determnes the extent of hs market opportuntes, only the dfferentaton by ablty unambguously produces a rankng of students. We may speak of vertcal dfferentaton on one hand and horzontal dfferentaton on the other hand. In our questonnare, the amount of vertcal dfferentaton s attested by the use of three potental means of sortng students by ther general ablty: a standardsed test, grades and the reference of the school. The amount of horzontal dfferentaton can be traced by the use of two common means of assessng occupatonspecfc talents: preferences of the famly or the student, and choce of optonal courses. These fve crtera of dfferentaton were lsted separately by experts for lower secondary and upper secondary levels. Ths nformaton s summarsed below by table 2, whch ndcates the frequency of use of each of these means of dfferentaton n our sample of sxteen countres 7. (Insert table 2 about here) The frst three columns ndcate that the vertcal dfferentaton of students s equally present n the lower and the upper levels of secondary schoolng and the last two ndcate that horzontal dfferentaton prevals at the upper level. Ths shows that educaton takes place at both levels
10 10 and tranng eventually starts at the upper level. Moreover, the fgures demonstrate that sortng by ablty domnates sortng by talent n the lower level, whle the reverse s true n the upper level. Ths s consstent wth our assumpton that the general ablty can be detected rather early but the occupatonspecfc talents can hardly be known before the specfc tranng has taken place. Another proof of the last asserton can be found n the ncreased severty of screenng between the lower and upper levels of secondary educaton. Screenng scores have been derved from our survey among educaton experts by addng up three ndcators of downstreamng, class repeatng and dropout 8, each measured on an ordnal 04 scale 9. The resultng ndex measures the amount of screenng takng place at each level of educaton on a 012 scale n a way whch allows comparson between levels. Screenng ncreases from a score of 3.2 n the lower level to 4.7 n the upper level of secondary educaton and ths dfference s sgnfcant at the 1% confdence level (t=2.82, df 28). The addton of frequences of use for all fve means of dfferentaton yelds country scores of total dfferentaton at the two levels of secondary educaton (DIFLOW, DIFUP). Total dfferentaton ncreases wth level wthout excepton. Ths pcture s confrmed by a ttest of dfference between the means of the lower and the upper levels. The mean scores of total dfferentaton are 1.2 for the lower level and 2.2 for the upper level, and they are unequal at the 5% confdence level (t = 2.168, d.f. 30) 10. Ths result s consstent wth the theoretcal predcton that students should be sorted by a combnaton of ablty and talents, whch optmally requres postponement of dfferentaton untl talents can be assessed wth suffcent precson. Fgure 2 plots the total dfferentaton scores at the two levels of secondary educaton. It separates two groups of countres wthout ambguty. Canada, Greece, Italy, Japan, Norway, Portugal and Span have no dfferentaton of any knd at the lower secondary level (DIFLOW=0). These countres have n common that all pupls must follow a commoncore syllabus from the tme of entry nto prmary educaton to the end of compulsory educaton (Lassblle, NavarroGomez 2000). At the other end of the spectrum, France, Germany, the Netherlands and the USA are
11 11 strongly dfferentated at both levels of secondary educaton. In between, le countres whch may be further classfed n two groups by closer nspecton. Hungary and Sweden offer no knd of horzontal dfferentaton. Austra, Russa and the UK form a resdual group of average dfferentaton, whether we take the dstrbuton of total dfferentaton between levels or between vertcal and horzontal means. (Insert fgure 2 about here) 4. The productve effcency of schoolng systems In ths secton we test two mplcatons of our theory of schoolng systems, namely proposton 2 and the corollary of proposton 1: a) Snce ablty can be detected earler than talents, t s not optmal to make an ntensve use of dfferentaton too early, say at the lower secondary level, for producng sklls. However, t wll be optmal to do so for producng educaton; b) Horzontal dfferentaton enhances the aggregate demand for general educaton and tranng. 4.1 A frst set of results Table 4 presents the results of regressons for the output measures that appeared n table 1. The explaned varables are HTOT (col. 1), SCORE (col. 2), INEQ (col. 3) and DECLINE (cols.45). These are all explaned essentally by two supply varables, the amount of dfferentaton at the lower secondary and upper secondary levels (DIFLOW, DIFUP), and by one demand varable, the average level of human captal one generaton back (HTOT0). (Insert table 4 about here) The frst set of mplcatons amounts to the predcton of a negatve effect of DIFLOW on HTOT (actng as a proxy for average sklls) and a postve effect on SCORE (actng as a proxy for average educaton). The second mplcaton s a postve effect of DIFUP (actng as a proxy for horzontal dfferentaton) on HTOT (actng as a proxy for aggregate educatoncumtranng). Both sets of mplcatons are confrmed n columns 1 and 2 of table 4. The three
12 12 coeffcents descrbng these effects are sgnfcant at the 5% level wth the predcted sgn. The tradeoff between educaton and sklls s strkngly llustrated by the offsettng effects of lowerlevel dfferentaton and upperlevel dfferentaton on these two outputs. Lowerlevel dfferentaton s good for the producton of general educaton (SCORE) and bad for the producton of occupatonspecfc sklls (HTOT). Late dfferentaton s good for the producton of sklls. Lookng back at fgure and table 1, Norway turns out to be the best performer because t has managed to suppress schoolleavers at lower secondary level and has developed a large vocatonal nonunversty sector. These results are obtaned on a small sample and must be treated wth cauton. However, the qualtatve conclusons were replcated wth smlar but dfferent varables and samples. An nstance of ths s gven by the comparson of column 5 wth column 4. Comparson of columns 4 and 2 shows that the percepton of declnng standards (see, on the same topc, Baudelot and Establet 1989) addresses the relatve declne of educaton n the total output of schoolng systems. Ths nterpretaton s confrmed by the regresson of column 5. STTPRIM desgnates the rato of students to teachng staff n prmary educaton for 1994, as gven by OECD (1996: table P32 (publc and prvate)). Ths s postvely related to early dfferentaton f educaton expendtures are constraned. For a gven budget, larger class sze s the prce for havng more dfferentaton that obvously uses more teachers 11. Therefore, DIFLOW and STTPRIM both capture aspects of early dfferentaton and have a negatve effect (sgnfcant at the 5% level) on DECLINE. Indeed, the selected experts dd not stress the declne of educatonal standards n France, Germany and the Netherlands whch have strongly earlydfferentated schoolng systems on both accounts. The converse s true for Italy. By ntroducng the level of human captal one generaton back n the regressons, the dynamcs of educaton and human captal can be analysed. The coeffcent of ths varable s postve and smaller than one n column 1, but close to one n column 2. These results suggest the convergence of the human captal or skll output of schoolng systems but the lack of convergence of the educaton output. For nstance, table 1 shows that Canada, Germany, the
13 13 Netherlands, Sweden and the USA have been expandng slowly n comparson wth developng countres lke Italy, Portugal, and Span. Fnally, the results of column 4 suggest that the dsperson of human captal wthn countres (INEQ) s not ncreased by early dfferentaton. 4.2 A second set of results Our frst results may be open to crtcsm n that they are based on a small sample of countres and on qualtatve or even subjectve explanatory varables. Fortunately, we were able to replcate, on a larger sample and wth more and wellaccepted ndcators, the regresson analyss concernng the scores obtaned n standardsed mathematcs and scence tests (SCORE) by pupls n grade seven and grade eght. Twentyfour countres are ncluded n ths analyss, encompassng the sxteen countres of our man sample. In the twelve "nondfferentated" systems 12, all the pupls had normally completed the same currculum when they took the tests; whle the pupls n the twelve "dfferentated" systems 13 had been sorted nto several streams after completng the commoncore syllabus (see Lassblle and NavarroGomez (2000) for a full descrpton of the dfferentaton and other varables). On average, pupls n dfferentated systems perform better than pupls n nondfferentated systems. For example, at grade seven, pupls n the frst systems acheved a score of 502, whle the second acheved only 477. In order to show the extent to whch the characterstcs of the two systems affect pupls achevement, n Table 5 we regress the mathematcs test scores n grades seven and eght on the followng objectve varables: the rato of the length of commoncore syllabus to the length of compulsory educaton (an ndex of nondfferentaton of systems whch takes value 1 for "nondfferentated" systems and values smaller than one for "dfferentated" systems), the pupl/teacher rato, the nstructonal tme from the frst year of prmary educaton up to the age when pupls took the tests, the percentage of pupls enrolled n the prvate sector, and the degree of decentralsaton of systems, estmated on the bass of the share of central government fundng. The test scores n the seventh and eghth grades are adjusted wthn the framework of a fxedeffect model. To take nto account the correlaton between the results obtaned n each grade, the varancecovarance matrx s corrected for heteroscedastcty by clusterng
14 14 observatons by country (see, for example, Greene 1997). Gven the avalablty of data, the estmaton covers fourteen countres, yeldng twentyeght observatons. Among these, seven countres have dfferentated and seven have nondfferentated educaton systems. (Insert table 5 about here) Dfferentated systems obtan better results than nondfferentated systems, all thngs beng equal. The effect of the structure of the system s far from neglgble, as the tmng of dfferentaton of pupls nto streams explans about 15 percent of the dfference n scores between pupls. Snce the dfferentaton ndex retaned here s manly concerned wth early (vertcal) dfferentaton, ths fndng confrms the results obtaned n table 4 (column 2), namely that early dfferentaton s good for educaton. The generally accepted dea among educators that nondfferentated systems are the best way to maxmse the producton of educaton s probably wrong. Even the superorty of these systems for reducng socal nequaltes at an early age seemed questonable n table 4. The results n Table 5 also show that the pupl/teacher rato has a negatve mpact on pupls scores after allowng for dfferentaton. Ths result s smlar to those obtaned by other studes (see, for example, Hanushek 1986). The total number of school hours, whch dffers wdely across countres, has no sgnfcant effect on achevement n mathematcs. However, the nstructonal tme n prmary educaton explans the good performance of certan countres better than the nstructonal tme n secondary educaton. These results confrm that margnal returns are decreasng n the acquston of learnng sklls. Furthermore, the regresson results ndcate that countres where prvate educaton s more wdespread perform sgnfcantly better than countres where t s more lmted. Once agan, prvate educaton wdens the choce set of famles and chldren and thus operates lke another knd of dfferentaton by choce (ths pont s developed n Damoselet and LévyGarboua 2000, 2001). Fnally, centrally managed educaton systems perform as well as decentralsed ones, after controllng for dfferentaton.
15 5. Concluson 15 Ths paper has made a basc dstncton between general educaton and vocatonal tranng. Educaton contrbutes to the producton of the learnng skll, whch s a general nvestment for producng many other sorts of occupatonspecfc sklls n combnaton wth specfc tranng. The dversty of marketable sklls ntroduces a polcy tradeoff for schoolng systems between educaton and nonlearnng sklls. If the objectve was to maxmse the net returns to educaton alone, students should be sorted by ther cogntve ablty alone. But f the objectve s to maxmse the net returns to both educaton and many knds of specfc tranng, then students should be gven an opton to receve further general educaton before they engage n vocatonal tranng and be sorted between these alternatve paths accordng to some combnaton of ther cogntve ablty and occupatonspecfc talents. Early dfferentaton s good for educaton but s bad for the producton of sklls. Furthermore, the horzontal dfferentaton of schoolng systems at a later stage nduces a rsng demand for both educaton and tranng. REFERENCES Baudelot, R., and G. Establet (1989), Le nveau monte, Pars: Seul. Becker, G. S. (1964), Human Captal, 1 st edton, New York: Columba Unversty Press for the NBER. Damoselet, N. (1998), Effets des systèmes scolares sur le comportement éducatf ndvduel, L Actualté Economque, (74), Damoselet, N. and L. LévyGarboua (2000), L effcacté de la dfférencaton et de la sélecton scolare: une comparason économque des systèmes éducatfs, Econome Publque, (6), Damoselet, N. and L. LévyGarboua (2001) Comparason des systèmes éducatfs: une approche économque, n Raymond Boudon, Nathale Bulle, and Mohamed Cherkaou (eds), Ecole et Socété: les paradoxes de la démocrate, Pars: PUF, pp Greene, W. (1997), Econometrc Analyss, 3d edton, London: PrentceHall Internatonal, Inc.
16 Hanushek, E.A. (1986), The Economcs of Schoolng: Producton and Effcency n Publc 16 Schools, Journal of Economc Lterature, (24), Internatonal Bureau of Educaton (1997), World Data on Educaton: , Geneva: Internatonal Bureau of Educaton. Lassblle, G. and L. Navarro Gómez (2000), Organzaton and Effcency of Educaton Systems: some emprcal fndngs, Comparatve Educaton, (36), OECD (1996), Educaton at a Glance, Pars: OECD. UNESCO (1996), Statstcal Yearbook, Pars: UNESCO.
17 Table 1 17 Country The producton and dstrbuton of educaton and sklls n 16 schoolng systems Total human captal per pupl at 1994 market value (upper secondary=100) HTOT Rate of growth of human captal n a generaton(%) IH Inequalty INEQ Opnon on the declne of educatonal standards DECLINE Score n math. and sc. test n grade seven SCORE Austra Canada France Germany Greece Hungary n.a Italy Japan n.a Netherlands Norway Portugal Russan Fed n.a Span Sweden UK USA
18 Table 2 18 The frequency of use of varous means of dfferentaton n lower secondary and upper secondary levels level means By standardsed test By grades By reference of the school By preferences of famly or student By optonal courses Lower secondary 1* Upper secondary * The range of varaton of all the ndcators s Table 3 Regresson analyss of schoolng outputs HTOT SCORE INEQ DECLINE DECLINE Constant (2.83)* (6.75)** (2.15) (0.02) (5.59) HTOT (4.72)** (2.11) (1.34) (0.66)  DIFLOW (3.15)* (3.58)** (0.57) (2.14) (2.63) DIFUP (2.95)* (1.98) (1.52) (0.29)  PTRPRIM (2.68) R² Number of observatons Absolute value of tstatstcs n parentheses. * sgnfcant at 5% level; ** sgnfcant at 1% level.
19 Table 4 Adjustment of mathematcs test scores n grades 7 and 8 19 SCORE Constant (9.11)** (14.81)** I (2.66)* (2.17)* PTR (2.05)* (3.08)** INSTIME a n.a. (0.73) INSTIMEP (1.52) INSTIME (0.91) SIZEPRIV (2.06)* (3.68)** DECENTR (0.27) (0.37) Adjusted R² F Number of observatons Note: Fxedeffect model corrected for heteroscedastcty by clusterng observatons by country. Absolute value of tstatstcs n parentheses; * sgnfcant at 5% level; ** sgnfcant at 1% level. a/ INSTIME= nstructonal tme n prmary level (INSTIMEP)+ nstructonal tme n secondary level  up to thrteen or fourteen years of age  (INSTIMES). Sources: Internatonal Bureau of Educaton (1997), OECD (1996) and UNESCO (1996) for nstructonal tme; UNESCO (1996) for the sze of prvate sector; OECD (1996) for the degree of centralsaton.
20 Fgure 1 20 Comparng the performance of schoolng systems along two dmensons: educaton and sklls 571 Japan score Netherla Austra Hungary Canada Germany Sweden Russan USA France UK Norway Span Greece 423 Portugal htot
21 Fgure 2 21 Comparng total dfferentaton of schoolng systems n the lower secondary and upper secondary levels 4 Netherlands 3 France USA Germany DIFLOW 2 Hungary Austra Russan 1 Sweden UK Japan Italy Greece Canada Span Portugal Norway DIFUP
22 Notes 22 1 We are grateful to Wm Groot and JeanJacques Paul for helpng us n the preparaton of the questonnare and the selecton of experts. 2 Some amount of dfferentaton s optmal, even f human captal and capactes are assumed homogeneous, when students dffer n capactes (see Damoselet 1998). 3 If human captal yelded a constant rental prce w over an nfnte duraton of lfe and f r was the constant ndvdual s borrowng rate, the prce of skll for an ndvdual of unt specfc talent would be: p = w r. 4 Snce the lst of topcs reflected the economc ssues rased by schoolng systems, due weght was gven to ther economcs background n the selecton of experts. 5 See Damoselet and LévyGarboua (2000, 2001) for a detaled descrpton of ths ndcator. 6 Ths statement s unambguously supported by the data. We regressed SCORE on a quadratc functon of HTOT and found strong nonlnearty. 7 Frequences may vary by steps of 0.5 because, n some countres, two experts responded to the questonnare ndependently and dsagreed n ther answers. 8 Downstreamng means that a student may swtch from a hgher educaton level to a lower educaton level. Class repeatng means that a student wll not be gven access to the next level f he does not meet the academc requrements. Lastly, dropout descrbes a student leavng an nsttuton of educaton wthout a dploma or certfcate never, 1  not very often; 2  sometmes; 3  frequent; 4  very frequent. 10 Ths ndex of total dfferentaton gves more weght to ablty than talent snce the questonnare mentons three crtera of vertcal dfferentaton and only two crtera of horzontal dfferentaton. An equal weghtng of the two knds of dfferentaton would stll renforce our concluson. 11 The substtuton between dfferentaton and the reducton of class sze s further attested by the absence of correlaton between the expendture per student and the rato of students to teachng staff at
23 23 the secondary level. 12 Australa, Canada, Denmark, Greece, Iceland, Japan, Norway, Portugal, the Russan Federaton, Scotland, Span, Swtzerland. 13 Austra, the Czech Republc, France, Germany, Hungary, Ireland, Korea, the Netherlands, New Zealand, Sweden, the Unted Kngdom, and the Unted States.
Study on CET4 Marks in China s Graded English Teaching
Study on CET4 Marks n Chna s Graded Englsh Teachng CHE We College of Foregn Studes, Shandong Insttute of Busness and Technology, P.R.Chna, 264005 Abstract: Ths paper deploys Logt model, and decomposes
More informationAn Alternative Way to Measure Private Equity Performance
An Alternatve Way to Measure Prvate Equty Performance Peter Todd Parlux Investment Technology LLC Summary Internal Rate of Return (IRR) s probably the most common way to measure the performance of prvate
More informationAnswer: A). There is a flatter IS curve in the high MPC economy. Original LM LM after increase in M. IS curve for low MPC economy
4.02 Quz Solutons Fall 2004 MultpleChoce Questons (30/00 ponts) Please, crcle the correct answer for each of the followng 0 multplechoce questons. For each queston, only one of the answers s correct.
More informationInstitute of Informatics, Faculty of Business and Management, Brno University of Technology,Czech Republic
Lagrange Multplers as Quanttatve Indcators n Economcs Ivan Mezník Insttute of Informatcs, Faculty of Busness and Management, Brno Unversty of TechnologCzech Republc Abstract The quanttatve role of Lagrange
More informationMarginal Returns to Education For Teachers
The Onlne Journal of New Horzons n Educaton Volume 4, Issue 3 MargnalReturnstoEducatonForTeachers RamleeIsmal,MarnahAwang ABSTRACT FacultyofManagementand Economcs UnverstPenddkanSultan Idrs ramlee@fpe.ups.edu.my
More informationInequality and The Accounting Period. Quentin Wodon and Shlomo Yitzhaki. World Bank and Hebrew University. September 2001.
Inequalty and The Accountng Perod Quentn Wodon and Shlomo Ytzha World Ban and Hebrew Unversty September Abstract Income nequalty typcally declnes wth the length of tme taen nto account for measurement.
More informationQuestions that we may have about the variables
Antono Olmos, 01 Multple Regresson Problem: we want to determne the effect of Desre for control, Famly support, Number of frends, and Score on the BDI test on Perceved Support of Latno women. Dependent
More informationForecasting the Direction and Strength of Stock Market Movement
Forecastng the Drecton and Strength of Stock Market Movement Jngwe Chen Mng Chen Nan Ye cjngwe@stanford.edu mchen5@stanford.edu nanye@stanford.edu Abstract  Stock market s one of the most complcated systems
More informationCan Auto Liability Insurance Purchases Signal Risk Attitude?
Internatonal Journal of Busness and Economcs, 2011, Vol. 10, No. 2, 159164 Can Auto Lablty Insurance Purchases Sgnal Rsk Atttude? ChuShu L Department of Internatonal Busness, Asa Unversty, Tawan ShengChang
More informationCausal, Explanatory Forecasting. Analysis. Regression Analysis. Simple Linear Regression. Which is Independent? Forecasting
Causal, Explanatory Forecastng Assumes causeandeffect relatonshp between system nputs and ts output Forecastng wth Regresson Analyss Rchard S. Barr Inputs System Cause + Effect Relatonshp The job of
More informationQuality Adjustment of Secondhand Motor Vehicle Application of Hedonic Approach in Hong Kong s Consumer Price Index
Qualty Adustment of Secondhand Motor Vehcle Applcaton of Hedonc Approach n Hong Kong s Consumer Prce Index Prepared for the 14 th Meetng of the Ottawa Group on Prce Indces 20 22 May 2015, Tokyo, Japan
More informationHOUSEHOLDS DEBT BURDEN: AN ANALYSIS BASED ON MICROECONOMIC DATA*
HOUSEHOLDS DEBT BURDEN: AN ANALYSIS BASED ON MICROECONOMIC DATA* Luísa Farnha** 1. INTRODUCTION The rapd growth n Portuguese households ndebtedness n the past few years ncreased the concerns that debt
More informationCHAPTER 5 RELATIONSHIPS BETWEEN QUANTITATIVE VARIABLES
CHAPTER 5 RELATIONSHIPS BETWEEN QUANTITATIVE VARIABLES In ths chapter, we wll learn how to descrbe the relatonshp between two quanttatve varables. Remember (from Chapter 2) that the terms quanttatve varable
More informationPRIVATE SCHOOL CHOICE: THE EFFECTS OF RELIGIOUS AFFILIATION AND PARTICIPATION
PRIVATE SCHOOL CHOICE: THE EFFECTS OF RELIIOUS AFFILIATION AND PARTICIPATION Danny CohenZada Department of Economcs, Benuron Unversty, BeerSheva 84105, Israel Wllam Sander Department of Economcs, DePaul
More informationbenefit is 2, paid if the policyholder dies within the year, and probability of death within the year is ).
REVIEW OF RISK MANAGEMENT CONCEPTS LOSS DISTRIBUTIONS AND INSURANCE Loss and nsurance: When someone s subject to the rsk of ncurrng a fnancal loss, the loss s generally modeled usng a random varable or
More informationAnalysis of Premium Liabilities for Australian Lines of Business
Summary of Analyss of Premum Labltes for Australan Lnes of Busness Emly Tao Honours Research Paper, The Unversty of Melbourne Emly Tao Acknowledgements I am grateful to the Australan Prudental Regulaton
More informationReturns to Experience in Mozambique: A Nonparametric Regression Approach
Returns to Experence n Mozambque: A Nonparametrc Regresson Approach Joel Muzma Conference Paper nº 27 Conferênca Inaugural do IESE Desafos para a nvestgação socal e económca em Moçambque 19 de Setembro
More informationPSYCHOLOGICAL RESEARCH (PYC 304C) Lecture 12
14 The Chsquared dstrbuton PSYCHOLOGICAL RESEARCH (PYC 304C) Lecture 1 If a normal varable X, havng mean µ and varance σ, s standardsed, the new varable Z has a mean 0 and varance 1. When ths standardsed
More informationDEFINING %COMPLETE IN MICROSOFT PROJECT
CelersSystems DEFINING %COMPLETE IN MICROSOFT PROJECT PREPARED BY James E Aksel, PMP, PMISP, MVP For Addtonal Informaton about Earned Value Management Systems and reportng, please contact: CelersSystems,
More informationOverview of monitoring and evaluation
540 Toolkt to Combat Traffckng n Persons Tool 10.1 Overvew of montorng and evaluaton Overvew Ths tool brefly descrbes both montorng and evaluaton, and the dstncton between the two. What s montorng? Montorng
More informationx f(x) 1 0.25 1 0.75 x 1 0 1 1 0.04 0.01 0.20 1 0.12 0.03 0.60
BIVARIATE DISTRIBUTIONS Let be a varable that assumes the values { 1,,..., n }. Then, a functon that epresses the relatve frequenc of these values s called a unvarate frequenc functon. It must be true
More information17 Capital tax competition
17 Captal tax competton 17.1 Introducton Governments would lke to tax a varety of transactons that ncreasngly appear to be moble across jursdctonal boundares. Ths creates one obvous problem: tax base flght.
More informationThe covariance is the two variable analog to the variance. The formula for the covariance between two variables is
Regresson Lectures So far we have talked only about statstcs that descrbe one varable. What we are gong to be dscussng for much of the remander of the course s relatonshps between two or more varables.
More informationThe OC Curve of Attribute Acceptance Plans
The OC Curve of Attrbute Acceptance Plans The Operatng Characterstc (OC) curve descrbes the probablty of acceptng a lot as a functon of the lot s qualty. Fgure 1 shows a typcal OC Curve. 10 8 6 4 1 3 4
More informationSPEE Recommended Evaluation Practice #6 Definition of Decline Curve Parameters Background:
SPEE Recommended Evaluaton Practce #6 efnton of eclne Curve Parameters Background: The producton hstores of ol and gas wells can be analyzed to estmate reserves and future ol and gas producton rates and
More informationAn Evaluation of the Extended Logistic, Simple Logistic, and Gompertz Models for Forecasting Short Lifecycle Products and Services
An Evaluaton of the Extended Logstc, Smple Logstc, and Gompertz Models for Forecastng Short Lfecycle Products and Servces Charles V. Trappey a,1, Hsnyng Wu b a Professor (Management Scence), Natonal Chao
More informationEvaluating the Effects of FUNDEF on Wages and Test Scores in Brazil *
Evaluatng the Effects of FUNDEF on Wages and Test Scores n Brazl * Naérco MenezesFlho Elane Pazello Unversty of São Paulo Abstract In ths paper we nvestgate the effects of the 1998 reform n the fundng
More informationModule 2 LOSSLESS IMAGE COMPRESSION SYSTEMS. Version 2 ECE IIT, Kharagpur
Module LOSSLESS IMAGE COMPRESSION SYSTEMS Lesson 3 Lossless Compresson: Huffman Codng Instructonal Objectves At the end of ths lesson, the students should be able to:. Defne and measure source entropy..
More informationI. SCOPE, APPLICABILITY AND PARAMETERS Scope
D Executve Board Annex 9 Page A/R ethodologcal Tool alculaton of the number of sample plots for measurements wthn A/R D project actvtes (Verson 0) I. SOPE, PIABIITY AD PARAETERS Scope. Ths tool s applcable
More informationCHAPTER 14 MORE ABOUT REGRESSION
CHAPTER 14 MORE ABOUT REGRESSION We learned n Chapter 5 that often a straght lne descrbes the pattern of a relatonshp between two quanttatve varables. For nstance, n Example 5.1 we explored the relatonshp
More informationMAPP. MERIS level 3 cloud and water vapour products. Issue: 1. Revision: 0. Date: 9.12.1998. Function Name Organisation Signature Date
Ttel: Project: Doc. No.: MERIS level 3 cloud and water vapour products MAPP MAPPATBDClWVL3 Issue: 1 Revson: 0 Date: 9.12.1998 Functon Name Organsaton Sgnature Date Author: Bennartz FUB Preusker FUB Schüller
More informationOn the Optimal Control of a Cascade of HydroElectric Power Stations
On the Optmal Control of a Cascade of HydroElectrc Power Statons M.C.M. Guedes a, A.F. Rbero a, G.V. Smrnov b and S. Vlela c a Department of Mathematcs, School of Scences, Unversty of Porto, Portugal;
More informationUnderwriting Risk. Glenn Meyers. Insurance Services Office, Inc.
Underwrtng Rsk By Glenn Meyers Insurance Servces Offce, Inc. Abstract In a compettve nsurance market, nsurers have lmted nfluence on the premum charged for an nsurance contract. hey must decde whether
More informationThe Current Employment Statistics (CES) survey,
Busness Brths and Deaths Impact of busness brths and deaths n the payroll survey The CES probabltybased sample redesgn accounts for most busness brth employment through the mputaton of busness deaths,
More informationDo business administration studies offer better preparation for supervisory jobs than traditional economics studies?
Do busness admnstraton studes offer better preparaton for supervsory jobs than tradtonal economcs studes? ROARM2002/2E Hans Hejke, Ger Ramaekers and Catherne Rs Research Centre for Educaton and the Labour
More informationFIGHTING INFORMALITY IN SEGMENTED LABOR MARKETS A general equilibrium analysis applied to Uruguay *
Vol. 48, No. 1 (May, 2011), 137 FIGHTING INFORMALITY IN SEGMENTED LABOR MARKETS A general equlbrum analyss appled to Uruguay * Carmen Estrades ** María Inés Terra ** As n other Latn Amercan countres,
More informationCapital asset pricing model, arbitrage pricing theory and portfolio management
Captal asset prcng model, arbtrage prcng theory and portfolo management Vnod Kothar The captal asset prcng model (CAPM) s great n terms of ts understandng of rsk decomposton of rsk nto securtyspecfc rsk
More informationADVERSE SELECTION IN INSURANCE MARKETS: POLICYHOLDER EVIDENCE FROM THE U.K. ANNUITY MARKET *
ADVERSE SELECTION IN INSURANCE MARKETS: POLICYHOLDER EVIDENCE FROM THE U.K. ANNUITY MARKET * Amy Fnkelsten Harvard Unversty and NBER James Poterba MIT and NBER * We are grateful to Jeffrey Brown, PerreAndre
More informationProceedings of the Annual Meeting of the American Statistical Association, August 59, 2001
Proceedngs of the Annual Meetng of the Amercan Statstcal Assocaton, August 59, 2001 LISTASSISTED SAMPLING: THE EFFECT OF TELEPHONE SYSTEM CHANGES ON DESIGN 1 Clyde Tucker, Bureau of Labor Statstcs James
More informationCalculation of Sampling Weights
Perre Foy Statstcs Canada 4 Calculaton of Samplng Weghts 4.1 OVERVIEW The basc sample desgn used n TIMSS Populatons 1 and 2 was a twostage stratfed cluster desgn. 1 The frst stage conssted of a sample
More informationThe Development of Web Log Mining Based on ImproveKMeans Clustering Analysis
The Development of Web Log Mnng Based on ImproveKMeans Clusterng Analyss TngZhong Wang * College of Informaton Technology, Luoyang Normal Unversty, Luoyang, 471022, Chna wangtngzhong2@sna.cn Abstract.
More information! # %& ( ) +,../ 0 1 2 3 4 0 4 # 5##&.6 7% 8 # 0 4 2 #...
! # %& ( ) +,../ 0 1 2 3 4 0 4 # 5##&.6 7% 8 # 0 4 2 #... 9 Sheffeld Economc Research Paper Seres SERP Number: 2011010 ISSN 17498368 Sarah Brown, Aurora OrtzNúñez and Karl Taylor Educatonal loans and
More informationPROFIT RATIO AND MARKET STRUCTURE
POFIT ATIO AND MAKET STUCTUE By Yong Yun Introducton: Industral economsts followng from Mason and Ban have run nnumerable tests of the relaton between varous market structural varables and varous dmensons
More informationWage inequality and returns to schooling in Europe: a semiparametric approach using EUSILC data
MPRA Munch Personal RePEc Archve Wage nequalty and returns to schoolng n Europe: a semparametrc approach usng EUSILC data Marco Bagett and Sergo Sccchtano Unversty La Sapenza Rome, Mnstry of Economc
More informationHARVARD John M. Olin Center for Law, Economics, and Business
HARVARD John M. Oln Center for Law, Economcs, and Busness ISSN 10456333 ASYMMETRIC INFORMATION AND LEARNING IN THE AUTOMOBILE INSURANCE MARKET Alma Cohen Dscusson Paper No. 371 6/2002 Harvard Law School
More informationStaff Paper. Farm Savings Accounts: Examining Income Variability, Eligibility, and Benefits. Brent Gloy, Eddy LaDue, and Charles Cuykendall
SP 200502 August 2005 Staff Paper Department of Appled Economcs and Management Cornell Unversty, Ithaca, New York 148537801 USA Farm Savngs Accounts: Examnng Income Varablty, Elgblty, and Benefts Brent
More informationSolutions to First Midterm
rofessor Chrstano Economcs 3, Wnter 2004 Solutons to Frst Mdterm. Multple Choce. 2. (a) v. (b). (c) v. (d) v. (e). (f). (g) v. (a) The goods market s n equlbrum when total demand equals total producton,.e.
More informationMethodology and Principles of Analysis
Methodology and Prncples of Analyss What s the IMD World Compettveness book? The IMD World Compettveness book (WCY) s the world s most thorough and comprehensve annual report on the compettveness of natons,
More informationRisk Model of LongTerm Production Scheduling in Open Pit Gold Mining
Rsk Model of LongTerm Producton Schedulng n Open Pt Gold Mnng R Halatchev 1 and P Lever 2 ABSTRACT Open pt gold mnng s an mportant sector of the Australan mnng ndustry. It uses large amounts of nvestments,
More informationChapter 4 Financial Markets
Chapter 4 Fnancal Markets ECON2123 (Sprng 2012) 14 & 15.3.2012 (Tutoral 5) The demand for money Assumptons: There are only two assets n the fnancal market: money and bonds Prce s fxed and s gven, that
More informationFinancial Mathemetics
Fnancal Mathemetcs 15 Mathematcs Grade 12 Teacher Gude Fnancal Maths Seres Overvew In ths seres we am to show how Mathematcs can be used to support personal fnancal decsons. In ths seres we jon Tebogo,
More informationSupport Vector Machines
Support Vector Machnes Max Wellng Department of Computer Scence Unversty of Toronto 10 Kng s College Road Toronto, M5S 3G5 Canada wellng@cs.toronto.edu Abstract Ths s a note to explan support vector machnes.
More informationANALYZING THE RELATIONSHIPS BETWEEN QUALITY, TIME, AND COST IN PROJECT MANAGEMENT DECISION MAKING
ANALYZING THE RELATIONSHIPS BETWEEN QUALITY, TIME, AND COST IN PROJECT MANAGEMENT DECISION MAKING Matthew J. Lberatore, Department of Management and Operatons, Vllanova Unversty, Vllanova, PA 19085, 6105194390,
More informationWorld Economic Vulnerability Monitor (WEVUM) Trade shock analysis
World Economc Vulnerablty Montor (WEVUM) Trade shock analyss Measurng the mpact of the global shocks on trade balances va prce and demand effects Alex Izureta and Rob Vos UN DESA 1. Nontechncal descrpton
More informationIs There A Tradeoff between EmployerProvided Health Insurance and Wages?
Is There A Tradeoff between EmployerProvded Health Insurance and Wages? Lye Zhu, Southern Methodst Unversty October 2005 Abstract Though most of the lterature n health nsurance and the labor market assumes
More information9.1 The Cumulative Sum Control Chart
Learnng Objectves 9.1 The Cumulatve Sum Control Chart 9.1.1 Basc Prncples: Cusum Control Chart for Montorng the Process Mean If s the target for the process mean, then the cumulatve sum control chart s
More informationStatistical Methods to Develop Rating Models
Statstcal Methods to Develop Ratng Models [Evelyn Hayden and Danel Porath, Österrechsche Natonalbank and Unversty of Appled Scences at Manz] Source: The Basel II Rsk Parameters Estmaton, Valdaton, and
More informationGender differences in revealed risk taking: evidence from mutual fund investors
Economcs Letters 76 (2002) 151 158 www.elsever.com/ locate/ econbase Gender dfferences n revealed rsk takng: evdence from mutual fund nvestors a b c, * Peggy D. Dwyer, James H. Glkeson, John A. Lst a Unversty
More informationTHE DISTRIBUTION OF LOAN PORTFOLIO VALUE * Oldrich Alfons Vasicek
HE DISRIBUION OF LOAN PORFOLIO VALUE * Oldrch Alfons Vascek he amount of captal necessary to support a portfolo of debt securtes depends on the probablty dstrbuton of the portfolo loss. Consder a portfolo
More informationFinancial Instability and Life Insurance Demand + Mahito Okura *
Fnancal Instablty and Lfe Insurance Demand + Mahto Okura * Norhro Kasuga ** Abstract Ths paper estmates prvate lfe nsurance and Kampo demand functons usng householdlevel data provded by the Postal Servces
More informationWhich Factors Determine Academic Performance of Economics Freshers?. Some Spanish Evidence
Whch Factors Determne Academc Performance of Economcs Freshers?. Some Spansh Evdence Juan J. Dolado* & Eduardo Morales** (*) Unversdad Carlos III & CEPR & IZA (**) Harvard Unversty Ths draft: October,
More informationSIMPLE LINEAR CORRELATION
SIMPLE LINEAR CORRELATION Smple lnear correlaton s a measure of the degree to whch two varables vary together, or a measure of the ntensty of the assocaton between two varables. Correlaton often s abused.
More informationNumber of Levels Cumulative Annual operating Income per year construction costs costs ($) ($) ($) 1 600,000 35,000 100,000 2 2,200,000 60,000 350,000
Problem Set 5 Solutons 1 MIT s consderng buldng a new car park near Kendall Square. o unversty funds are avalable (overhead rates are under pressure and the new faclty would have to pay for tself from
More informationSIX WAYS TO SOLVE A SIMPLE PROBLEM: FITTING A STRAIGHT LINE TO MEASUREMENT DATA
SIX WAYS TO SOLVE A SIMPLE PROBLEM: FITTING A STRAIGHT LINE TO MEASUREMENT DATA E. LAGENDIJK Department of Appled Physcs, Delft Unversty of Technology Lorentzweg 1, 68 CJ, The Netherlands Emal: e.lagendjk@tnw.tudelft.nl
More informationADVERSE SELECTION IN INSURANCE MARKETS: POLICYHOLDER EVIDENCE FROM THE U.K. ANNUITY MARKET
ADVERSE SELECTION IN INSURANCE MARKETS: POLICYHOLDER EVIDENCE FROM THE U.K. ANNUITY MARKET Amy Fnkelsten Harvard Unversty and NBER James Poterba MIT and NBER Revsed May 2003 ABSTRACT In ths paper, we nvestgate
More informationCHAPTER 18 INFLATION, UNEMPLOYMENT AND AGGREGATE SUPPLY. Themes of the chapter. Nominal rigidities, expectational errors and employment fluctuations
CHAPTER 18 INFLATION, UNEMPLOYMENT AND AGGREGATE SUPPLY Themes of the chapter Nomnal rgdtes, expectatonal errors and employment fluctuatons The shortrun tradeoff between nflaton and unemployment The
More informationCHULMLEIGH ACADEMY TRUST INDUCTION AND DEVELOPMENT OF DIRECTORS POLICY
CHULMLEIGH ACADEMY TRUST INDUCTION AND DEVELOPMENT OF DIRECTORS POLICY Adopted by BoD:30 May 2012 Polcy Statement The Drectors of Chulmlegh Academy Trust beleve all Drectors brng an equally valued range
More informationCambodian Child s Wage Rate, Human Capital and Hours Worked Tradeoff: Simple Theoretical and Empirical Evidence for Policy Implications
GSIS Workng Paper Seres ambodan hld s Wage Rate, Human aptal and Hours Worked Tradeoff: Smple Theoretcal and Emprcal Evdence for Polcy Implcatons Han PHOUMIN Sech FUKUI No. 6 August 2006 Graduate School
More informationNasdaq Iceland Bond Indices 01 April 2015
Nasdaq Iceland Bond Indces 01 Aprl 2015 Fxed duraton Indces Introducton Nasdaq Iceland (the Exchange) began calculatng ts current bond ndces n the begnnng of 2005. They were a response to recent changes
More informationFeature selection for intrusion detection. Slobodan Petrović NISlab, Gjøvik University College
Feature selecton for ntruson detecton Slobodan Petrovć NISlab, Gjøvk Unversty College Contents The feature selecton problem Intruson detecton Traffc features relevant for IDS The CFS measure The mrmr measure
More informationSTATISTICAL DATA ANALYSIS IN EXCEL
Mcroarray Center STATISTICAL DATA ANALYSIS IN EXCEL Lecture 6 Some Advanced Topcs Dr. Petr Nazarov 1401013 petr.nazarov@crpsante.lu Statstcal data analyss n Ecel. 6. Some advanced topcs Correcton for
More informationDescribing Communities. Species Diversity Concepts. Species Richness. Species Richness. SpeciesArea Curve. SpeciesArea Curve
peces versty Concepts peces Rchness pecesarea Curves versty Indces  mpson's Index  hannonwener Index  rlloun Index peces Abundance Models escrbng Communtes There are two mportant descrptors of a communty:
More informationMarginal Benefit Incidence Analysis Using a Single Crosssection of Data. Mohamed Ihsan Ajwad and Quentin Wodon 1. World Bank.
Margnal Beneft Incdence Analyss Usng a Sngle Crosssecton of Data Mohamed Ihsan Ajwad and uentn Wodon World Bank August 200 Abstract In a recent paper, Lanjouw and Ravallon proposed an attractve and smple
More informationPhysical activity patterns of European 50+ populations
Orgnal Paper. Advances n Rehabltaton 3, 6 13, 2010 DOI 10.2478/v1002901000027 Physcal actvty patterns of European 50+ populatons Mchał Myck German Insttute for Economc Research, Berln, Centre for Economc
More informationTrade Adjustment and Productivity in Large Crises. Online Appendix May 2013. Appendix A: Derivation of Equations for Productivity
Trade Adjustment Productvty n Large Crses Gta Gopnath Department of Economcs Harvard Unversty NBER Brent Neman Booth School of Busness Unversty of Chcago NBER Onlne Appendx May 2013 Appendx A: Dervaton
More informationExhaustive Regression. An Exploration of RegressionBased Data Mining Techniques Using Super Computation
Exhaustve Regresson An Exploraton of RegressonBased Data Mnng Technques Usng Super Computaton Antony Daves, Ph.D. Assocate Professor of Economcs Duquesne Unversty Pttsburgh, PA 58 Research Fellow The
More informationSchool tracking and development of cognitive skills additional results
ömmföäflsäafaäsflassflassflas fffffffffffffffffffffffffffffffffff Dscusson Papers School trackng and development of cogntve sklls addtonal results Sar Pekkala Kerr Wellesley College Tuomas Pekkarnen Aalto
More informationCHOLESTEROL REFERENCE METHOD LABORATORY NETWORK. Sample Stability Protocol
CHOLESTEROL REFERENCE METHOD LABORATORY NETWORK Sample Stablty Protocol Background The Cholesterol Reference Method Laboratory Network (CRMLN) developed certfcaton protocols for total cholesterol, HDL
More informationAddendum to: Importing SkillBiased Technology
Addendum to: Importng SkllBased Technology Arel Bursten UCLA and NBER Javer Cravno UCLA August 202 Jonathan Vogel Columba and NBER Abstract Ths Addendum derves the results dscussed n secton 3.3 of our
More informationA householdbased Human Development Index. Kenneth Harttgen and Stephan Klasen Göttingen University, Germany
A householdbased Human Development Index Kenneth Harttgen and Stephan Klasen Göttngen Unversty, Germany Introducton Motvaton HDI tres to operatonalze capablty approach at crossnatonal level. HDI measures
More informationIntroduction to Regression
Introducton to Regresson Regresson a means of predctng a dependent varable based one or more ndependent varables. Ths s done by fttng a lne or surface to the data ponts that mnmzes the total error. 
More information! ## % & ( ) + & ) ) ),. / 0 ## #1#
! ## % & ( ) + & ) ) ),. / 0 12 345 4 ## #1# 6 Sheffeld Economc Research Paper Seres SERP Number: 2006010 ISSN 17498368 Pamela Lenton* The Cost Structure of Hgher Educaton n Further Educaton Colleges
More informationTo manage leave, meeting institutional requirements and treating individual staff members fairly and consistently.
Corporate Polces & Procedures Human Resources  Document CPP216 Leave Management Frst Produced: Current Verson: Past Revsons: Revew Cycle: Apples From: 09/09/09 26/10/12 09/09/09 3 years Immedately Authorsaton:
More informationHigh Correlation between Net Promoter Score and the Development of Consumers' Willingness to Pay (Empirical Evidence from European Mobile Markets)
Hgh Correlaton between et Promoter Score and the Development of Consumers' Wllngness to Pay (Emprcal Evdence from European Moble Marets Ths paper shows that the correlaton between the et Promoter Score
More informationCommunication Networks II Contents
8 / 1  Communcaton Networs II (Görg)  www.comnets.unbremen.de Communcaton Networs II Contents 1 Fundamentals of probablty theory 2 Traffc n communcaton networs 3 Stochastc & Marovan Processes (SP
More informationThe Analysis of Outliers in Statistical Data
THALES Project No. xxxx The Analyss of Outlers n Statstcal Data Research Team Chrysses Caron, Assocate Professor (P.I.) Vaslk Karot, Doctoral canddate Polychrons Economou, Chrstna Perrakou, Postgraduate
More informationForecasting the Demand of Emergency Supplies: Based on the CBR Theory and BP Neural Network
700 Proceedngs of the 8th Internatonal Conference on Innovaton & Management Forecastng the Demand of Emergency Supples: Based on the CBR Theory and BP Neural Network Fu Deqang, Lu Yun, L Changbng School
More informationMultiplePeriod Attribution: Residuals and Compounding
MultplePerod Attrbuton: Resduals and Compoundng Our revewer gave these authors full marks for dealng wth an ssue that performance measurers and vendors often regard as propretary nformaton. In 1994, Dens
More informationGeneral or Vocational? Evidence on School Choice, Returns, and Sheep Skin Effects from Egypt 1998
Twentyffth Annual Meetng of The Mddle East Economc Assocaton (MEEA) Alled Socal Scence Assocatons Phladelpha, Pennsylvana January 79, 2005 General or Vocatonal? Evdence on School Choce, Returns, and
More informationBuyside Analysts, Sellside Analysts and Private Information Production Activities
Buysde Analysts, Sellsde Analysts and Prvate Informaton Producton Actvtes Glad Lvne London Busness School Regent s Park London NW1 4SA Unted Kngdom Telephone: +44 (0)0 76 5050 Fax: +44 (0)0 774 7875
More informationThe Analysis of Covariance. ERSH 8310 Keppel and Wickens Chapter 15
The Analyss of Covarance ERSH 830 Keppel and Wckens Chapter 5 Today s Class Intal Consderatons Covarance and Lnear Regresson The Lnear Regresson Equaton TheAnalyss of Covarance Assumptons Underlyng the
More informationMultivariate EWMA Control Chart
Multvarate EWMA Control Chart Summary The Multvarate EWMA Control Chart procedure creates control charts for two or more numerc varables. Examnng the varables n a multvarate sense s extremely mportant
More informationCulture and the Family: An Application to Educational Choices in Italy
Culture and the Famly: An Applcaton to Educatonal Choces n Italy Saggo ad Invto per la Rvsta d Poltca Economca July 2009 Paola Gulano UCLA, NBER, and IZA Abstract In ths essay we revew the assocaton between
More information7.5. Present Value of an Annuity. Investigate
7.5 Present Value of an Annuty Owen and Anna are approachng retrement and are puttng ther fnances n order. They have worked hard and nvested ther earnngs so that they now have a large amount of money on
More informationLIFETIME INCOME OPTIONS
LIFETIME INCOME OPTIONS May 2011 by: Marca S. Wagner, Esq. The Wagner Law Group A Professonal Corporaton 99 Summer Street, 13 th Floor Boston, MA 02110 Tel: (617) 3575200 Fax: (617) 3575250 www.ersalawyers.com
More informationConstruction Rules for Morningstar Canada Target Dividend Index SM
Constructon Rules for Mornngstar Canada Target Dvdend Index SM Mornngstar Methodology Paper October 2014 Verson 1.2 2014 Mornngstar, Inc. All rghts reserved. The nformaton n ths document s the property
More informationA Model of Private Equity Fund Compensation
A Model of Prvate Equty Fund Compensaton Wonho Wlson Cho Andrew Metrck Ayako Yasuda KAIST Yale School of Management Unversty of Calforna at Davs June 26, 2011 Abstract: Ths paper analyzes the economcs
More informationAn Analysis of Factors Influencing the SelfRated Health of Elderly Chinese People
Open Journal of Socal Scences, 205, 3, 520 Publshed Onlne May 205 n ScRes. http://www.scrp.org/ournal/ss http://dx.do.org/0.4236/ss.205.35003 An Analyss of Factors Influencng the SelfRated Health of
More informationProject Networks With MixedTime Constraints
Project Networs Wth MxedTme Constrants L Caccetta and B Wattananon Western Australan Centre of Excellence n Industral Optmsaton (WACEIO) Curtn Unversty of Technology GPO Box U1987 Perth Western Australa
More informationUsing Series to Analyze Financial Situations: Present Value
2.8 Usng Seres to Analyze Fnancal Stuatons: Present Value In the prevous secton, you learned how to calculate the amount, or future value, of an ordnary smple annuty. The amount s the sum of the accumulated
More information