The Economic Benefits of Investing in Early Learning
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SENATE 7473 PUBLIC BILLS and RESOLUTIONS by Mr
195'0 CONGRESSIONAL RECORD-SENATE 7473 PUBLIC BILLS AND RESOLUTIONS By Mr. SCRIVNER: setts, to reject certain recommendations af H. Con. Res. 213. Concurrent resolution to fecting veterans contained in the report of Under clause 3 of rule XXII, public create a joint congressional committee to in the Hoover Commission; to the Committee on bills and resolutions were introduced and vestigate Federal grant-in-aid programs; to Veterans' Affairs. severally referred as follows: the Committee on Rules. 2159. By Mrs. ROGERS of Massachusetts: By Mr. FLOOD: By Mr. HAYS of Ohio: Memorial of the General Court of Massachu H. R. 8586. A bill to authorize, for a tempo H. Con. Res. 214. Concurrent resolution ex setts, to reject certain recommendations af rary period, the purchase by the Government pressing the sense of the Congress that the fecting veterans contained in the report of of anthracite in amounts sufficient to main President should rescind foreign-trade agree the Hoover Commission; to the Committee tain normal production and employment in ments with Communist-controlled coun on Veterans' Affairs. the anthracite region, to promote the gen tries; .to the Committee on Ways and Means. eral national welfare, and for other purposes; to the Committee on Public Lands. By Mr. FORAND: MEMORIALS SENATE H. R. 8587. A bill to amend section 2, Under clause 3 of rule XXII, memo Public Law 649, Seventy-ninth Congress, rials were presented and referred, as approved August 7, 1946, providing for the TuESDAY, MAY 23, 1950 disposition of vessels, trophies, relics,. and follows: material of historical interest by the Secre By the SPEAKER: Memorial of the Legis <Legislative day of Wednesday, March tary of the Navy, so as to include certain lature of the State of Massachusetts, memo 29, 1950) additional veterans' organizations; to the rializing the President and the Congress of Committee on Armed Services. -
Trygve Haavelmo, James J. Heckman, Daniel L. Mcfadden, Robert F
Trygve Haavelmo, James J. Heckman, Daniel L. McFadden, Robert F. Engle and Clive WJ. Granger Edited by Howard R. Vane Professor of Economics Liverpool John Moores University, UK and Chris Mulhearn Reader in Economics Liverpool John Moores University, UK PIONEERING PAPERS OF THE NOBEL MEMORIAL LAUREATES IN ECONOMICS An Elgar Reference Collection Cheltenham, UK • Northampton, MA, USA Contents Acknowledgements ix General Introduction Howard R. Vane and Chris Mulhearn xi PART I TRYGVE HAAVELMO Introduction to Part I: Trygve Haavelmo (1911-99) 3 1. Trygve Haavelmo (1943a), 'The Statistical Implications of a System of Simultaneous Equations', Econometrica, 11 (1), January, 1-12 7 2. Trygve Haavelmo (1943b), 'Statistical Testing of Business-Cycle Theories', Review of Economic Statistics, 25 (1), February, 13-18 19 3. Trygve Haavelmo (1944), 'The Probability Approach in Econometrics', Econometrica, 12, Supplement, July, iii-viii, 1-115 25 4. M.A. Girshick and Trygve Haavelmo (1947), 'Statistical Analysis of the Demand for Food: Examples of Simultaneous Estimation of Structural Equations', Econometrica, 15 (2), April, 79-110 146 PART II JAMES J. HECKMAN Introduction to Part II: James J. Heckman (b. 1944) 181 5. James Heckman (1974), 'Shadow Prices, Market Wages, and Labor Supply', Econometrica, 42 (4), July, 679-94 185 6. James J. Heckman (1976), 'A Life-Cycle Model of Earnings, Learning, and Consumption', Journal of Political Economy, 84 (4, Part 2), August, S11-S44, references 201 7. James J. Heckman (1979), 'Sample Selection Bias as a Specification Error', Econometrica, 47 (1), January, 153-61 237 8. James Heckman (1990), 'Varieties of Selection Bias', American Economic Review, Papers and Proceedings, 80 (2), May, 313-18 246 9. -
Andrew Biemiller Interviewer: Sheldon Stern Date of Interview: May 24, 1979 Location: Washington, D.C
Andrew Biemiller, Oral History Interview – JFK#2, 5/24/1979 Administrative Information Creator: Andrew Biemiller Interviewer: Sheldon Stern Date of Interview: May 24, 1979 Location: Washington, D.C. Length: 69 pages Biographical Note Biemiller, a Representative from Wisconsin from 1945 to 1949 and Director of the AFL- CIO’s Department of Legislation, from 1956 to 1982, discusses the Kennedy and Johnson administrations’ legislative records, particularly on labor issues; specific issues and pieces of legislation; civil rights; and the labor movement’s relationship with the Kennedy and Johnson administrations, among other issues. Access Open. Usage Restrictions According to the deed of gift signed September 23, 1982, copyright of these materials has been assigned to the United States Government. Users of these materials are advised to determine the copyright status of any document from which they wish to publish. Copyright The copyright law of the United States (Title 17, United States Code) governs the making of photocopies or other reproductions of copyrighted material. Under certain conditions specified in the law, libraries and archives are authorized to furnish a photocopy or other reproduction. One of these specified conditions is that the photocopy or reproduction is not to be “used for any purpose other than private study, scholarship, or research.” If a user makes a request for, or later uses, a photocopy or reproduction for purposes in excesses of “fair use,” that user may be liable for copyright infringement. This institution reserves the right to refuse to accept a copying order if, in its judgment, fulfillment of the order would involve violation of copyright law. -
Brings Four-Day Week
WHIOffice and Professional Employees International Union, AFL-CIO and CLC No. 321 April, 1973 175 in Illinois Canadian breakthrough win escalator An across-the-board 400 an hour wage increase plus a cost- of-living escalator were obtained in a one-year contract nego- Initial contract for 500 tiated by Local 221, in Gales- burg, Ill., for its 175-member unit at Gale Products, a division of Outboard Marine Corp. Local 221 President Stanton brings four-day week Luker reports that the new agreement runs to March 9, An initial contract negotiated across - the - board increase in paid 50%), in addition to its The campaign to organize 1974. It sets a starting month- by Montreal Local 57 for its each year, with semi-annual ad- pension plan contributions. This the employees lasted almost ly minimum salary of $609 in new 500-member bargaining justments to bring the commis- will provide 2% per month for two years, during which the the lowest office classification, unit at the Quebec Construction sion's employees in 15 provin- each year of service, based on OPEIU made repeated repre- rising to a $685 maximum. It Industry Commission has in- cial offices up to parity with the best five pay years prior to sentations to the Quebec gov- calls for a starting minimum of troduced the four-day week for those in Montreal, where a $70 retirement, in addition to social ernment to grant them collective $770 in the top grade, rising to Canadian white collar em- per week pay differential existed security. The union is coowner bargaining rights. -
The Performance of Performance Standards James J. Heckman; Carolyn Heinrich; Jeffrey Smith the Journal of Human Resources, Vol
The Performance of Performance Standards James J. Heckman; Carolyn Heinrich; Jeffrey Smith The Journal of Human Resources, Vol. 37, No. 4. (Autumn, 2002), pp. 778-811. Stable URL: http://links.jstor.org/sici?sici=0022-166X%28200223%2937%3A4%3C778%3ATPOPS%3E2.0.CO%3B2-D The Journal of Human Resources is currently published by University of Wisconsin Press. Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/about/terms.html. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at http://www.jstor.org/journals/uwisc.html. Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission. JSTOR is an independent not-for-profit organization dedicated to and preserving a digital archive of scholarly journals. For more information regarding JSTOR, please contact [email protected]. http://www.jstor.org Tue Apr 24 08:01:40 2007 The Performance of Performance Standards James J. Heckman Carolyn Heinrich Jeffrey Smith ABSTRACT This paper examines the perjGormance of the JTPA performance system, a widely emulated model for inducing eflciency in government organiza- tions. We present a model of how performance incentives may distort bu- reaucratic decisions. -
Lionel Robbins on Economic Generalizations and Reality in the Light of Modern Econometrics
Economica (2009) 76, 873–890 doi:10.1111/j.1468-0335.2009.00805.x Robbins on Economic Generalizations and Reality in the Light of Modern Econometrics By ROGER E. BACKHOUSEw and STEVEN N. DURLAUFz wUniversity of Birmingham and Erasmus University Rotterdam zUniversity of Wisconsin–Madison Final version received 27 February 2009. This paper examines Lionel Robbins’ critical attitude towards formal empirical work from the standpoint of modern econometrics. It argues that his attitude towards empirical work rested on indefensible assumptions and that he failed to realise that the role he saw for empirical work undermined his belief in the primacy of economic theory. This matters because Robbins’ attitudes are echoed in modern economics, best exemplified by the calibration methodology of Kydland and Prescott, which is vulnerable to similar criticisms. INTRODUCTION Economists take widely different positions on the role that empirical evidence should play in the development of substantive propositions. Contemporary macroeconomics is split between those who give primacy to theory, whether they employ calibration methods to link theory to data (Edward Prescott) or regard theory and econometrics as complementary (Lars Hansen and Thomas Sargent), and those who regard atheoretical analyses as fundamental (Christopher Sims).1 Similar disagreements exist within microeconomics. On the microeconometrics side, one finds competing paradigms between James Heckman, whose work focuses on the use of economic assumptions to account for self-selection and heterogeneity, those who adopt the essentially statistical assumptions employed in Donald Rubin’s causal model, and Charles Manski’s emphasis on asking what may be learned under minimal assumptions of any type. Other microeconomic research, for example Steven Levitt’s work on crime, focuses on the identification of natural experiments, so that econometric analysis is reduced to a trivial role. -
Curriculum Vitae for James J. Heckman
September 13, 2021 James Joseph Heckman Department of Economics University of Chicago 1126 East 59th Street Chicago, Illinois 60637 Telephone: (773) 702-0634 Fax: (773) 702-8490 Email: [email protected] Personal Date of Birth: April 19, 1944 Place of Birth: Chicago, Illinois Education B.A. 1965 (Math) Colorado College (summa cum laude) M.A. 1968 (Econ) Princeton University Ph.D. 1971 (Econ) Princeton University Dissertation “Three Essays on Household Labor Supply and the Demand for Market Goods.” Sponsors: S. Black, H. Kelejian, A. Rees Graduate and Undergraduate Academic Honors Phi Beta Kappa Woodrow Wilson Fellow NDEA Fellow NIH Fellow Harold Willis Dodds Fellow Post-Graduate Honors Honorary Degrees and Professorships Doctor Honoris Causa, Vienna University of Economics and Business, Vienna, Austria. Jan- uary, 2017. Doctor of Social Sciences Honoris Causa, Lignan University, Hong Kong, China. November, 2015. Honorary Doctorate of Science (Economics), University College London. September, 2013. Doctor Honoris Causis, Pontifical University, Santiago, Chile. August, 2009. Doctor Honoris Causis, University of Montreal.´ May 2004. 1 September 13, 2021 Doctor Honoris Causis, Bard College, May 2004. Doctor Honoris Causis, UAEM, Mexico. January 2003. Doctor Honoris Causis, University of Chile, Fall 2002. Honorary Doctor of Laws, Colorado College, 2001. Honorary Professor, Jinan University, Guangzhou, China, June, 2014. Honorary Professor, Renmin University, P. R. China, June, 2010. Honorary Professor, Beijing Normal University, P. R. China, June, 2010. Honorary Professor, Harbin Institute of Technology, P. R. China, October, 2007. Honorary Professor, Wuhan University, Wuhan, China, 2003. Honorary Professor, Huazhong University of Science and Technology, Wuhan, China, 2001. Honorary Professor, University of Tucuman, October, 1998. -
James J. Heckman [Ideological Profiles of the Economics Laureates] Daniel B
James J. Heckman [Ideological Profiles of the Economics Laureates] Daniel B. Klein and Ryan Daza Econ Journal Watch 10(3), September 2013: 358-366 Abstract James J. Heckman is among the 71 individuals who were awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel between 1969 and 2012. This ideological profile is part of the project called “The Ideological Migration of the Economics Laureates,” which fills the September 2013 issue of Econ Journal Watch. Keywords Classical liberalism, economists, Nobel Prize in economics, ideology, ideological migration, intellectual biography. JEL classification A11, A13, B2, B3 Link to this document http://econjwatch.org/file_download/730/HeckmanIPEL.pdf ECON JOURNAL WATCH Hayek, Friedrich A. 1978b. The Atavism of Social Justice. In New Studies in Philosophy, Politics, Economics and the History of Ideas, 57-68. Chicago: University of Chicago Press. Hayek, Friedrich A. 1979. Law, Legislation and Liberty, Volume 3: The Political Order of a Free People. Chicago: University of Chicago Press. Hayek, Friedrich A. 1981 [1978]. Foreword to Socialism: An Economic and Sociological Analysis by Ludwig von Mises, xix-xxiv. Indianapolis: Liberty Fund. Hayek, Friedrich A. 1983. Knowledge, Evolution and Society. London: Adam Smith Institute. Hayek, Friedrich A. 1988. The Fatal Conceit: The Errors of Socialism, ed. W. W. Bartley III. Chicago: University of Chicago Press. Hayek, Friedrich A. 1990 [1976]. Denationalisation of Money—The Argument Refined: An Analysis of the Theory and Practice of Concurrent Currencies, 3rd ed. London: Institute of Economic Affairs. Hayek, Friedrich A. 1991 [1944]. On Being an Economist. In The Trend of Economic Thinking by Hayek, eds. -
NBER WORKING PAPER SERIES IDEAS and GROWTH Robert E
NBER WORKING PAPER SERIES IDEAS AND GROWTH Robert E. Lucas, Jr. Working Paper 14133 http://www.nber.org/papers/w14133 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2008 A version of this paper was given as the 2008 Economica Phillips Lecture at LSE on February 7, 2008. I thank Francesco Caselli and other participants in that event for their comments. I am also grateful for conversations with Fernando Alvarez, Jess Benhabib, Francisco Buera, Jonathan Eaton, James Heckman, Boyan Jovanovic, Sam Kortum, Casey Mulligan, and Nancy Stokey, and for the assistance and suggestions of Ferdinando Monte. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research. © 2008 by Robert E. Lucas, Jr.. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. Ideas and Growth Robert E. Lucas, Jr. NBER Working Paper No. 14133 June 2008, Revised July 2008 JEL No. O0 ABSTRACT What is it about modern capitalist economies that allows them, in contrast to all earlier societies, to generate sustained growth in productivity and living standards? It is widely agreed that the productivity growth of the industrialized economies is mainly an ongoing intellectual achievement, a sustained flow of new ideas. Are these ideas the achievements of a few geniuses, Newton, Beethoven, and a handful of others, viewed as external to the activities of ordinary people? Are they the product of a specialized research sector, engaged in the invention of patent-protected processes over which they have monopoly rights? Both images are based on important features of reality and both have inspired interesting growth theories, but neither seems to me central. -
May 3, 2018 Open Letter to President Trump and Congress: in 1930
May 3, 2018 Open letter to President Trump and Congress: In 1930, 1,028 economists urged Congress to reject the protectionist Smoot-Hawley Tariff Act. Today, Americans face a host of new protectionist activity, including threats to withdraw from trade agreements, misguided calls for new tariffs in response to trade imbalances, and the imposition of tariffs on washing machines, solar components, and even steel and aluminum used by U.S. manufacturers. Congress did not take economists’ advice in 1930, and Americans across the country paid the price. The undersigned economists and teachers of economics strongly urge you not to repeat that mistake. Much has changed since 1930 -- for example, trade is now significantly more important to our economy -- but the fundamental economic principles as explained at the time have not: [note -- the following text is taken from the 1930 letter] We are convinced that increased protective duties would be a mistake. They would operate, in general, to increase the prices which domestic consumers would have to pay. A higher level of protection would raise the cost of living and injure the great majority of our citizens. Few people could hope to gain from such a change. Construction, transportation and public utility workers, professional people and those employed in banks, hotels, newspaper offices, in the wholesale and retail trades, and scores of other occupations would clearly lose, since they produce no products which could be protected by tariff barriers. The vast majority of farmers, also, would lose through increased duties, and in a double fashion. First, as consumers they would have to pay still higher prices for the products, made of textiles, chemicals, iron, and steel, which they buy. -
Nobel Lecture: Uncertainty Outside and Inside Economic Models
Nobel Lecture: Uncertainty Outside and Inside Economic Models Lars Peter Hansen University of Chicago We must infer what the future situation would be without our interference, and what changes will be wrought by our actions. Fortunately, or unfortunately, none of these pro- cesses is infallible, or indeed ever accurate and complete. ðKnight 1921, 201–2Þ I. Introduction Asset pricing theory has long recognized that financial markets compen- sate investors who are exposed to some components of uncertainty. This is where macroeconomics comes into play. The economywide shocks, the primary concern of macroeconomists, by their nature are not diver- sifiable. Exposures to these shocks cannot be averaged out with exposures to other shocks. Thus returns on assets that depend on these macroeco- nomic shocks reflect “risk” premia and are a linchpin connecting macro- economic uncertainty to financial markets. A risk premium reflects both the price of risk and the degree of exposure to risk. I will be particularly interested in how the exposures to macroeconomic impulses are priced by decentralized security markets. This manuscript was prepared in conjunction with the 2013 Nobel Prize in Economic Sciences. I thank Manuel Arellano, Amy Boonstra, Philip Barrett, Xiaohong Chen, John Cochrane, Maryam Farboodi, Eric Ghysels, Itzhak Gilboa, Massimo Marinacci, Nan Li, Monika Piazzesi, Eric Renault, Scott Richard, Larry Samuelson, Enrique Sentana, Jose´ Scheinkman, Martin Schneider, Stephen Stigler, Harald Uhlig, Amir Yaron, an anonymous referee, and especially Jaroslav Borovicˇka, James Heckman, Thomas Sargent, and Grace Tsiang for helpful comments. [ Journal of Political Economy, 2014, vol. 122, no. 5] © The Nobel Foundation 2013 945 This content downloaded from 142.058.148.178 on June 11, 2019 13:18:18 PM All use subject to University of Chicago Press Terms and Conditions (http://www.journals.uchicago.edu/t-and-c). -
The Fourth-Grade Plunge
AMERICAN FEDERATION OF TEACHERS SPRING 2003 The Cause. The Cure. In fourth grade, poor childrens reading comprehension starts a drastic decline— " " , and rarely recovers. The cause: They hear millions fewer words at home than > do their advantaged peers— and since H | words represent knowledge, they don’t gain the knowledge that underpins . reading comprehension. The cure: ? Immerse these children, and the many * others whose comprehension is low, in words and the knowledge the words represent— as early as possible. Hirsch, Jr. Betty Hart & Todd R. Risley ■ Isabel L. Beck THIS YEAR IN SOUTH AFRICA, MORE THAN 1,000 TEACHERS WILL DIE OF AIDS. In Zimbabwe more than 30 What if percent of the country’s teachers carry HIV. Hundreds of thousands of schoolchildren have lost a parent to the epidemic. Throughout Africa, the statistics tell a similar story-teachers’ lives lost and whole education systems 30 percent endangered. ofyour THE AFT LAUNCHED a multi-year, multi-country campaign in partnership with African teacher unions to provide resources to fight the spread of this deadly disease. But we need your help to make this campaign a success. teachers Your contribution to the campaign will go directly for union initiatives in Africa to provide resources for HIV/AIDS education, teaching materials, and supplies. To make a tax-deductible contribution, please make your check had a deadly payable to AFTEF and mail to the address below. ^ FOR MORE INFORMATION about the AFT-Africa AIDS Campaign, visit the AFT-AFRICA disease? AIDS CAMPAIGN AFT’s Web site at www.aft.org/africa_aids, or write us at AFT-Africa AIDS A project of the American Campaign, AFT Educational Foundation, 555 New Jersey Ave.