Dejan Kovač, Ph.D.

Dejan Kovač, Ph.D.
Aktuelle Position

seit 9/21

Wissenschaftlicher Mitarbeiter der Abteilung Strukturwandel und Produktivität

Leibniz-Institut für Wirtschaftsforschung Halle (IWH)

Forschungsschwerpunkte

  • internationale Wirtschaftswissenschaften
  • Verhaltensökonomik
  • politische Ökonomie

Dejan Kovač ist seit September 2021 wissenschaftlicher Mitarbeiter in der Abteilung Strukturwandel und Produktivität. Seine Forschungsschwerpunkte umfassen internationale Wirtschaftswissenschaften, politische Ökonomie und Verhaltensökonomik.

Dejan Kovač studierte an der University of Zagreb und am Center for Economic Research and Graduate Education – Economics Institute in Prag, wo er auch promovierte. Bevor er zum IWH kam, war er wissenschaftlicher Mitarbeiter an der Princeton University.

Ihr Kontakt

Dejan Kovač, Ph.D.
Dejan Kovač, Ph.D.
Mitglied - Abteilung Strukturwandel und Produktivität
Nachricht senden +49 345 7753-862

Publikationen

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Exposure to Conflict, Migrations and Long-run Education and Income Inequality: Evidence from Bosnia and Herzegovina

Adnan Efendic Dejan Kovač Jacob N. Shapiro

in: Defence and Peace Economics, im Erscheinen

Abstract

We investigate the long-term relationship between conflict-related migration and individual socioeconomic inequality. Looking at the post-conflict environment of Bosnia and Herzegovina (BiH), a former Yugoslav state most heavily impacted by the wars of the early 1990s, the paper focuses on differences in educational performance and income between four groups: migrants, internally displaced persons, former external migrants, and those who did not move. The analysis leverages a municipality-representative survey (n ≈ 6,000) that captured self-reported education and income outcomes as well as migration histories. We find that individuals with greater exposure to conflict had systematically worse educational performance and lower earnings two decades after the war. Former external migrants now living in BiH have better educational and economic outcomes than those who did not migrate, but these advantages are smaller for external migrants who were forced to move. We recommend that policies intended to address migration-related discrepancies should be targeted on the basis of individual and family experiences caused by conflict.

Publikation lesen

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The Impact of Delay: Evidence from Formal out-of-Court Restructuring

Stjepan Srhoj Dejan Kovač Jacob N. Shapiro Randall K. Filer

in: Journal of Corporate Finance, February 2023

Abstract

Different types of bankruptcy restructuring procedures are used in most legal systems to decide the fate of businesses facing financial hardship. We study how bargaining failures in an under-researched type of restructuring procedure, a formal out-of-the court procedure impacts the economic performance of participating firms. Croatia introduced a “pre-bankruptcy settlement” (PBS) process in the wake of the Great Recession of 2007–2009. A novel dataset provides us with annual financial statements for both sides of more than 180,000 debtor–creditor pairs, enabling us to address selection into failed negotiations by matching a rich set of creditor and debtor characteristics. Failures to settle at the PBS stage due to idiosyncratic bargaining problems, which effectively delay entry into the standard bankruptcy procedure, lead to a lower rate of survival among debtors as well as reduced employment, revenue, and profits. We are the first study to track how bargaining failures diffuse through the network of creditors, finding a significant negative effect on small creditors, but not others. Our results highlight the impact of delay and the importance of structuring bankruptcy procedures, to rapidly resolve uncertainty about firms’ future prospects.

Publikation lesen

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O Brother, Where Start Thou? Sibling Spillovers on College and Major Choice in Four Countries

Adam Altmejd Andrés Barrios-Fernández Marin Drlje Joshua Goodman Michael Hurwitz Dejan Kovač Christine Mulhern Christopher Neilson Jonathan Smith

in: Quarterly Journal of Economics, Nr. 3, 2021

Abstract

Family and social networks are widely believed to influence important life decisions, but causal identification of those effects is notoriously challenging. Using data from Chile, Croatia, Sweden, and the United States, we study within-family spillovers in college and major choice across a variety of national contexts. Exploiting college-specific admissions thresholds that directly affect older but not younger siblings’ college options, we show that in all four countries a meaningful portion of younger siblings follow their older sibling to the same college or college-major combination. Older siblings are followed regardless of whether their target and counterfactual options have large, small, or even negative differences in quality. Spillover effects disappear, however, if the older sibling drops out of college, suggesting that older siblings’ college experiences matter. That siblings influence important human capital investment decisions across such varied contexts suggests that our findings are not an artifact of particular institutional detail but a more generalizable description of human behavior. Causal links between the postsecondary paths of close peers may partly explain persistent college enrollment inequalities between social groups, and this suggests that interventions to improve college access may have multiplier effects.

Publikation lesen

Arbeitspapiere

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The Impact of Delay: Evidence from Formal Out-of-Court Restructuring

Randall K. Filer Dejan Kovač Jacob N. Shapiro Stjepan Srhoj

in: IWH Discussion Papers, Nr. 10, 2021

Abstract

Bankruptcy restructuring procedures are used in most legal systems to decide the fate of businesses facing financial hardship. We study how bargaining failures in such procedures impact the economic performance of participating firms in the context of Croatia, which introduced a „pre-bankruptcy settlement“ (PBS) process in the wake of the Great Recession of 2007 - 2009. Local institutions left over from the communist era provide annual financial statements for both sides of more than 180,000 debtor-creditor pairs, enabling us to address selection into failed negotiations by matching a rich set of creditor and debtor characteristics. Failures to settle at the PBS stage due to idiosyncratic bargaining problems, which effectively delays entry into the standard bankruptcy procedure, leads to a lower rate of survival among debtors as well as reduced employment, revenue, and profits. We also track how bargaining failures diffuse through the network of creditors, finding a significant negative effect on small creditors, but not others. Our results highlight the impact of delay and the importance of structuring bankruptcy procedures to rapidly resolve uncertainty about firms‘ future prospects.

Publikation lesen
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