Dynastic Human Capital, Inequality, and Intergenerational Mobility

We estimate long-run intergenerational persistence in human capital using information on outcomes for the extended family: the dynasty. A dataset including the entire Swedish population, linking four generations, allows us to identify parents' siblings and cousins, their spouses, and spouses' siblings. Using various human capital measures, we show that traditional parent-child estimates underestimate long-run intergenerational persistence by at least one-third. By adding outcomes for more distant ancestors, we show that almost all of the persistence is captured by the parental generation. Data on adoptees show that at least one-third of -long-term persistence is attributed to environmental factors

Crowding-Out Effects of Public Libraries and the Public Lending Right

The public lending right (PLR) compensates authors for losses caused by public libraries’ free lending of books. It is important to set the appropriate rate to maintain authors’ incentives to create new works. We construct a novel data set that integrates bookstores’ sales data with copy and loan data from public libraries in Japan and quantify the crowding-out effects of the public libraries. Our estimates control for title-municipality and year-month-specific unobserved heterogeneities. The results suggest that a unit increase in library copy of a title decreases sales of the title in bookstores by an average of 0.935 to 1.344 units, depending on specification, within 3 years following the publication of the title. However, the effects are highly “progressive”: the loss is 3.124 to 5.045 units for books in the top 1/6 of sales and even higher for bestsellers, whereas the effects are negligible for the other books. The total loss in revenue during the data period is 8% to 13.5% of actual sales revenue, which is higher than public libraries’ expenditure on books. The estimates indicate that the current PLR rate is too low for popular books but can be excessive for less popular books

The influence of self-regulatory efficacy on consumer purchase behaviour of pirated music CDs in Tanzania

The music industry generally has experienced upsurge in the sales of pirated music CDs especially in Tanzania. While this trend continues, very limited studies have been conducted in developing countries. This study is therefore one of the few attempts to investigate the influence of self-regulatory efficacy on the purchase behaviour of consumers in Tanzania. The casual model was empirically tested by using partial least-square structural equation modelling (PLS-SEM). A survey of 491 Generation Y consumers as the main music users in Tanzania was carried out. This study was conducted using an intercept survey method at selected malls in the former capital city of Tanzania (Dar es Salaam). The result reveals that self-regulatory efficacy positively influences purchase behaviour among the selected respondents. Implications of the findings were presented