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1.
James Peoples 《The Review of Black Political Economy》2009,36(1):1-6
Efforts by public and private institutions to increase the number of minorities participating in graduate economics programs
has contributed to a growing supply of Ph. D. trained minority economists. However, minorities are still under-represented
as faculty members in economics departments. This presidential address explores whether the concentration of minorities in
a few fields of specialization creates a demand-supply mismatch for these individuals.
相似文献
James PeoplesEmail: |
2.
Bogdan Glăvan 《Quarterly Journal of Austrian Economics》2008,11(1):43-59
In the last decades, more and more economists have advanced the idea that significant obstacles impeding economic growth (especially
in less developed regions) consist in different market failures, preventing entrepreneurs from taking the necessary actions
to exploit profit opportunities: coordination failure. This paper provides a refutation of the idea that coordination failures
as manifested in the inability of clusters to emerge can serve as a ground for government intervention. It uses the Porter,
Rodrik and Rodriguez-Clare thesis as an example of this approach and criticizes the claim that coordination externalities
prevent the market process to allocate resources optimally.
相似文献
Bogdan GlăvanEmail: |
3.
Non-traded Goods,Technical Progress and Wages 总被引:2,自引:0,他引:2
We use a general equilibrium model of trade to show that technical improvement may indeed cause a fall in the wages of unskilled
workers. Under some modest conditions, the wages of skilled workers may go down too.
相似文献
Reza OladiEmail: |
4.
The NLSY dataset is utilized to measure the extent of employer wage discrimination between white and black males during their
first 5 years of post-school employment. We look at the respondent’s first job and the jobs 1 and 5 years after school completion.
Oaxaca wage decompositions are employed to gauge the effect of discrimination. Consistent with our hypothesis, we find that
the discrimination component of the wage gap falls over time. For the first job out of school the unexplained wage gap between
blacks and whites is 35%. By year 5, the unexplained component falls to about 13%. Thus, while discrimination continues to
play a role in explaining the white–black wage gap over time, its impact decreases as time in the labor market increases.
相似文献
Francesco RennaEmail: |
5.
Policy coordination in East Asia and across the Pacific 总被引:1,自引:1,他引:0
In this paper, we construct a macro-econometric model that describes the economic activity in the Asia-Pacific area and provide
quantitative insights into the recent policy debates on monetary and currency coordination among the East Asian economies.
The model includes a wide variety of monetary and currency policy rules that the East Asian economies adopt and allows for
one country's policymaking to have substantial effects on foreign countries. We apply the model to three current policy issues:
(1) the desirability of currency basket pegs in East Asia, (2) the anticipated effects of China's currency policy reform,
and (3) the non-negativity constraint on Japanese nominal interest rates. The simulation analyses show the external economy
effects of policy rules quantitatively and suggest the difficulty of monetary and currency policy coordination among the East
Asian economies.
相似文献
Koichiro Kamada (Corresponding author)Email: |
Izumi TakagawaEmail: |
6.
The existing literature on welfare effects on marriage and fertility has largely focused on groups of white and black women.
By contrast, Hispanic women have received little attention. This paper examines the effects of welfare generosity on a sample
of young Hispanic women’s premarital fertility and marriage choices. A bivariate competing risks duration model framework
allows us to identify the process of young women’s premarital fertility and the process of marriage, effectively controlling
for observed characteristics and unobservables. Our findings indicate a 10% increase in welfare generosity results in a 10%
increase in premarital births and a 7% decrease in marriages by age 24; both effects are significant.
相似文献
Shiferaw Gurmu (Corresponding author)Email: |
7.
The purpose in this note is first to review briefly the empirical results on the relationship between real interest rates
and real exchange rates; this empirical literature provides little support for the hypothesis of Roll that expected real interest
rates are equal in general. Our second aim is to discuss the theoretical conditions that have to be met for his hypothesis
to hold.
相似文献
David PeelEmail: |
8.
Caroline Schmidt 《Open Economies Review》2007,18(3):347-367
In this paper, it is argued that the observed high positive correlation between national savings and investment which is found
in the data can in part be explained by shocks to monetary policy. This hypothesis, which is established by reviewing some
empirical findings, is tested in a two-country DSGE-model framework in the tradition of the New Open Economy Macroeconomics.
The simulation results obtained support the idea that shocks to monetary policy might contribute to the explanation of the
Feldstein-Horioka puzzle.
相似文献
Caroline SchmidtEmail: |
9.
Ricardo Coelho de Faria Raul Yukiro Matsuhita Jorge Madeira Nogueira Benjamin Miranda Tabak 《Atlantic Economic Journal》2007,35(4):451-462
This paper shows that we can improve the statistical efficiency of dichotomous choice contingent valuation surveys by asking
a second open question (anchored open-ended approach) instead of the traditional double-bounded approach. The former approach
is shown to be more efficient than conventional single and double-bounded approaches using a Monte Carlo experiment, even
when we allow for strategic behavior from respondents such as protest votes and yea-saying behavior.
相似文献
Benjamin Miranda Tabak (Corresponding author)Email: |
10.
Maxim L. Pinkovskiy 《Atlantic Economic Journal》2009,37(1):99-112
We propose a model of stochastic choice in which the error term is derived from a maximizing framework in which it is costly
for agents to make decisions optimally. We argue that the model has testable implications, and is closely related to other
models used in the literature on choice under risk. We test this model over experimental data, replicate some conclusions
of the existing literature, and show our model to perform well against models in the field in current use.
相似文献
Maxim L. PinkovskiyEmail: |
11.
The recent rash of international currency crises has generated considerable interest in the role that exchange rate regimes
have played in contributing to these crises. Many economists have argued that efforts to operate adjustably pegged exchange
rate regimes have been a major contributor to “the unstable middle” hypothesis and some have argued that this unstable middle
is so broad that only the two corners of hard fixes or floating rates will be stable in a world of high capital mobility—the
two corners or bipolar hypothesis. Two recent empirical studies by researchers at the International Monetary Fund reach opposing
conclusions on these issues. We examine the issue further and show that conclusions can be quite sensitive to how exchange
rate regimes are grouped into categories and the measures of currency crises that are used. In general we find that the dead
center of the adjustable peg is by far the most crisis prone broad type of exchange rate regimes, but that countries need
not go all the way to freely floating rates or hard fixes to substantially reduce the risks of currency crises.
相似文献
Thomas D. WillettEmail: |
12.
This paper investigates the interaction between institutional integration and trade deepening in the EU over the last 50 years.
It uses Granger causality tests, a VECM and variance decompositions to further the understanding of this interaction. The
evidence indicates two-way endogeneity. But the link from institution building to trade dominates. Yet, this link has weakened
over time, possibly due to globalisation sidestepping institutions. Moreover, the sensitivity of institutional integration
to trade deepening has risen, which suggests that economic forces have gained more strength in determining institutional steps.
相似文献
Francesco Paolo MongelliEmail: |
13.
Bonds indexed to the price level or inflation have become popular and more common in the industrialized world. This paper
examines the impact of indexed bonds on the price level elasticity of aggregate demand. With a model of aggregate demand based
on the standard IS-LM framework and expanded to differentiate between bonds which are indexed to the price level and bonds
which are not so indexed, we find that the existence of indexed bonds decreases the elasticity of aggregate demand with respect
to the general price level.
相似文献
Gary E. Maggs (Corresponding author)Email: |
14.
This paper provides evidence for an aspect of trade often disregarded in international trade research: countries’ sectoral
export diversification. The results of our semiparametric empirical analysis show that, on average, countries do not specialize;
on the contrary, they diversify. Our results are robust for different statistical indices used to measure trade specialization,
for the level of sectoral aggregation, and for the level of smoothing in the nonparametric term associated with per capita
income. Using a generalized additive model (GAM) with country-specific fixed effects it can be shown that, controlling for
countries’ heterogeneity, sectoral export diversification increases with income.
相似文献
Massimo Tamberi (Corresponding author)Email: |
15.
Floating exchange rates are said to introduce volatility into the foreign exchange market that could deter trade flows. Previous
research employed aggregate import and export trade data and provided mixed results. In this paper we disaggregate the trade
data between the U.S. and the emerging economy of India and use the bounds testing approach to cointegration and error-correction
modeling to show that in 40 industries that trade between the two countries, exchange rate volatility has negative and positive
effects in 40% of industries, in the short run. These short-run effects, however, do not last into the long run in many cases.
相似文献
Mohsen Bahmani-OskooeeEmail: |
16.
We present an analysis of the determinants of de jure and de facto exchange rate regimes based on a panel probit model with
simultaneous equations. The model is estimated using simulation-based maximum likelihood methods. The empirical results suggest
a triangular structure of the model such that the choice of de facto regimes depends on the choice of de jure regimes but
not vice versa. This gives rise to a novel interpretation of regime discrepancies.
相似文献
Jizhong ZhouEmail: |
17.
The average funding status for eleven southern state pension plans used by teachers as of 2005 is 86%, which translates into
over a $40 billion shortfall. Employing Monte Carlo simulation, this study projects the expected future funding status along
with confidence intervals for each of these states over the next 10 years. Projections suggest the average underfunding will
remain virtually the same based on current state pension contributions and asset allocations. However, if underlying pension
asset returns fail to meet expectations due to high funding risk, the average underfunding could fall to 73%, a shortfall
of over $150 billion.
相似文献
William J. Trainor Jr.Email: |
18.
This paper analyses the characteristics of episodes of fiscal consolidation in the EU exhibiting non-Keynesian features, i.e.,
followed by an improved growth performance. Roughly half of the episodes of fiscal consolidations that have been undertaken
in the EU in the last 30 years have been followed by higher growth. Probit regressions indicate that the consolidations that
turned out to be expansionary were more likely started in periods with output below potential and based on expenditure cuts
rather than on tax increases. These results appear quite robust with respect to the criteria used to identify the consolidation
episodes and to classify such episodes as expansionary.
相似文献
Alessandro TurriniEmail: |
19.
Gregory N. Price 《The Review of Black Political Economy》2008,35(4):163-180
An empirical implication of egalitarianism in the provision of public disaster relief services is that the probability of
surviving a natural disaster should not be conditioned on a household’s position in the income distribution, or its racial
characteristics. In this paper, we utilize data on deaths attributed to Hurricane Katrina in the City of New Orleans to estimate
a political economy model of the public provision of disaster rescue services. Parameter estimates reveal that the probability
of dying as a result of Hurricane Katrina, at both the census tract and individual level, increased with respect to being
black and poor. Our results suggest that there was a departure from egalitarian principles in the provision of public disaster
rescue services during Hurricane Katrina, and are consistent with a political economy of race and class governing decisions
about the allocation of public resources to ameliorate population environmental risks.
相似文献
Gregory N. PriceEmail: |
20.
In this paper, we assess the performance of the BEA series “value of motor vehicle output” as an indicator of the business
cycle over the period 1968–2007. We statistically assess the causal relationship between real motor vehicle output (RMVO)
and real gross domestic product (RGDP). This is accomplished by standard estimation and statistical methods used to assess
vector autoregressive models. This assessment represents the initial results of a more encompassing research project, the
intent of which is to determine the dynamic interaction of the transport sector with the overall economy. It’s a start to
a more comprehensive assessment of how transport and economic activity interrelate.
相似文献
David A. PoyerEmail: |