Thesis (M. Phil.)--University of Hong Kong, 1977. / Typescript.

This dissertation consists of three independent chapters, each of which use microeconomic data and methods to inform an analysis of macroeconomic models and questions. The first two chapters study the short-run dynamics of housing markets, while the last chapter studies fluctuations in labor markets. / Economics

In the first essay, I assess the effect of indoor air quality (IAQ) in school buildings on student test performance and attendance rates. Results indicate that performance on standardized tests significantly improves while attendance rates are unresponsive to improvements in IAQ. The improvement in math scores ranges from 0.102 - 0.189 standard deviations per $500,000 spent on IAQ-related renovations and is 35% - 50% greater than the improvement in reading scores. For the same budget, results suggest that the improvement in math scores following IAQ-related renovations is several times larger than the improvement associated with class size reductions. In the second essay, I examine the responsiveness of the daily labor supply of fishermen to transitory variations in the daily wage using data from the Florida spiny lobster fishery. The applicability of this research is both narrow and general. Understanding this relationship is key to determining the effectiveness of landing fees as a means to regulate fisheries. Tracing out the labor supply curve is also fundamental to labor economics and policy. I find that the wage elasticity of labor supply (participation) is positive and statistically different from zero, with a point estimate of 0.967. This suggests an upward slopping labor supply curve and refutes the notion of reference dependent preferences. In the third essay, I examine the bias associated with ignoring the multi-species aspect of labor supply decisions in spatially explicit bioeconomic fishery models. Using a complete 15-year panel of all fishing trips made by fishermen possessing a Florida spiny lobster license, including non-lobster trips, I show that the simplifying assumption of a dichotomous choice structure at the first node (i.e. participate in the target fishery or not) is not innocuous and that predicted participation rates can change substantially with the addition of another species as an outside alternative in the first decision node. / text

published_or_final_version / Urban Studies / Master / Master of Social Sciences

published_or_final_version / Public Administration / Master / Master of Public Administration

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This dissertation consists of three essays concerning the effects of human capital and health capital on the labor market. Chapter 1 presents a structural model that incorporates a health capital stock to the traditional learning-by-doing model. The model allows health to affect future wages by interrupting current labor supply and on-the-job human capital accumulation. Using data on sick time from the Panel Study Income of Dynamics the model is estimated using a nonlinear Generalized Method of Moments estimator. The results show human capital production exhibits diminishing returns. Health capital production increases with the current stock of health capital, or better current health improves future health. Among prime age working men, the effect of health on human capital accumulation is relatively small. Chapter 2 explores the role of another form of human capital, noncognitive skills, in explaining racial gaps in wages. Chapter 2 adds two noncognitive skills, locus of control and self-esteem, to a simple wage specification to determine the effect of these skills on the racial wage gap (white, black, and Hispanic) and the return to these skills across the wage distribution. The wage specifications are estimated using pooled, between, and quantile estimators. Results using the National Longitudinal Survey of Youth 1979 show these skills account for differing portions of the racial wage gap depending on race and gender. Chapter 3 synthesizes the idea of health and on-the-job human capital accumulation from Chapter 1 with the idea of noncognitive skills in Chapter 2 to examine the influence of these skills on human capital and health capital accumulation in adult life. Chapter 3 introduces noncognitive skills to a life cycle labor supply model with endogenous health and human capital accumulation. Noncognitive skills, measured by degree of future orientation, self-efficacy, trust-hostility, and aspirations, exogenously affect human capital and health production. The model uses noncognitive skills assessed in the early years of the Panel Study of Income Dynamics and relates these skills to health and human capital accumulation during adult life. The main findings suggest individuals with high self-efficacy receive higher future wages.

Bibliography: leaves B. 1-B. 23 / 2 v. : ill., map ; 30 cm. / Title page, contents and abstract only. The complete thesis in print form is available from the University Library. / Thesis (Ph.D.)--University of Adelaide, Dept. of Economics, 1984