Some scholars have attributed earnings differences among locations to labor market conditions (“place effects”) whereas others have focused on the skill level of residents (“person effects”). We estimate a variety of selection models in an effort to detect differences in labor market conditions while controlling for differences in skill levels. We maintain the assumption that there are no barri...

0

The analysis of the financial market always draws a lot of attention from investors and researchers. The trend of stock market is very complex and is influenced by various factors. Therefore to find out the most significant factors to the stock market is very important. Feature Selection is such an algorithm that can remove the redundant and irrelevant factors, and figure out the most significa...

This study focuses on the stock investment choices of older investors. Consistent with the theoretical predictions of life-cycle and learning models, we find that older investors hold less risky and better diversified stock portfolios, and their choices reflect greater knowledge about investing. However, consistent with the psychological evidence on cognitive aging, we also find that older inve...