Pierre Régibeau, Katharine Rockett, 13 October 2016

Systematic assessments of the research performance of academic institutions are increasingly common around the world. A key question for the design of such systems is whether and how bibliometrics should be incorporated. This column argues that bibliometrics can perform well at identifying quality in some fields, while providing cost-effective and transparent review. Peer review is found to be no guarantor of quality, though it may be essential in the evaluation of certain fields.

Yoshihiko Kadoya, Mostafa Saidur Rahim Khan, 01 October 2016

Economists increasingly emphasise the role of financial literacy in explaining savings, investment, and retirement planning decisions. This column uses data from a nationwide survey in Japan to investigate the relationship between financial literacy and late-life anxiety. Financial literacy appears to reduce anxiety by making people both financially and psychologically prepared for old age. 

Rasmus Landersø, James Heckman, 12 September 2016

The Scandinavian model of social welfare is often contrasted favourably with the US model in terms of promoting social mobility across generations. This column investigates the accuracy of these claims, focusing on the case of Denmark. Denmark invests heavily in child development, but then undoes the beneficial effects by providing weak labour market incentives for its children to attend school compared to the US. This helps explain why the influence of family background on educational attainment is similar in the two countries.

Pelin Akyol, James Key, Kala Krishna, 24 August 2016

Guessing answers can undermine the effectiveness of multiple choice exams. Negative marking, in which incorrect answers are penalised, can limit guessing, but may bias the test against risk-averse test takers. Using Turkish university admission exam data, this column explores whether negative marking biases exams, particularly against women, who tend to be more risk averse. Differences in risk aversion appear to have a limited impact, especially for good students. 

Sandra Black, Amy Filipek, Jason Furman, Laura Giuliano, Ayushi Narayan, 04 August 2016

Student debt has been rapidly rising in the US over the last 20 years. This column explores how this rise is affecting borrowers and the economy today. With the college earnings premium near historical levels, student loans facilitate excellent investments on average, and most borrowers are paying down their debt with little risk to the overall economy. However, borrowers who attend low quality schools or fail to complete a degree face real challenges with repayment. 

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