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61.
Aleksander Berentsen Gabriele Camera Christopher Waller 《International Economic Review》2005,46(2):465-487
Recent monetary models with explicit microfoundations are made tractable by assuming that agents have access to centralized markets after one round of decentralized trade. Given quasi‐linear preferences, this makes the distribution of money degenerate—which keeps the models simple but precludes the discussion of distributional effects of monetary policy. We generalize these models by assuming two rounds of trade before agents can readjust their money holdings to study a range of new distributional effects analytically. We show that unexpected, symmetric lump‐sum money injections may increase short‐run output and welfare, whereas asymmetric injections may increase long‐run output and welfare. 相似文献
62.
Christopher G. Leggett 《Environmental and Resource Economics》2002,23(3):343-355
This paper considers welfare analysis with therandom utility model (RUM) when perceptions ofenvironmental quality differ from objectivemeasures of environmental quality. Environmental quality is assumed to be anexperience good, so that while perceptions ofquality determine choices, ex postutility is determined by objective quality. Given this assumption, I derive a measure ofthe welfare impact of changes in environmentalquality, and I show how this new welfaremeasure differs from the traditional welfaremeasure developed by Hanemann (1982). This newwelfare measure provides an approach tomeasuring the value of information aboutenvironmental quality within the framework ofthe random utility model. 相似文献
63.
Stephen J. Carson Robert D. Jewell Christopher Joiner 《Journal of the Academy of Marketing Science》2007,35(2):172-183
Prior empirical research suggests that consumers perceive pioneers as more prototypical (i.e., representative) of their product
categories than me-too followers. This prototypicality advantage is believed to contribute to an enduring marketplace advantage
for the pioneer. We extend research into pioneering prototypicality advantages by considering the ramifications of simultaneous
product design (i.e., product attribute) evolutions. We hypothesize that the simultaneous evolution of product designs of
both the pioneer and me-too will diminish the pioneer’s prototypicality advantage over the me-too, even though the me-too
does not initiate the change. To test our hypotheses, we create an experimental environment consisting of four cells, each
corresponding to a different marketplace scenario: a no-change condition; a simultaneous-evolution condition; a pioneer-updates-first
condition; and a leapfrogging (i.e., me-too updates first) condition. The results suggest that simultaneous design evolutions
can diminish the pioneer’s prototypicality advantage. As a result, me-too entry may be a more attractive strategy in the long-run
than currently believed in product categories characterized by substantial design evolution.
相似文献
Christopher JoinerEmail: |
64.
When agents are liquidity constrained, two options exist – sell assets or borrow. We compare the allocations arising in two economies: in one, agents can sell government (outside) bonds and in the other they can borrow by issuing (inside) bonds. All transactions are voluntary, implying no taxation or forced redemption of private debt. We show that any allocation in the economy with inside bonds can be replicated in the economy with outside bonds but that the converse is not true. However, the optimal policy in each economy makes the allocations equivalent. 相似文献
65.
Christopher Balding 《Review of International Economics》2010,18(1):193-206
Research has called into question the impact of the World Trade Organization (WTO) on trade. This research, however, has been called into question on both modeling grounds for and failing to utilize comprehensive fixed effects. Others have found that when these factors are accounted for, imports rise by significant amounts. This paper seeks to reconcile these findings. I find that the WTO has a larger, though uneven, impact on exports than imports. The results indicate that the WTO frequently causes imports and exports to move in opposite directions negating any increase in overall trade. The regressions with and without fixed country effects generally demonstrate pattern consistency for generalized results that are robust to change. Owing to the finding that imports rise modestly or even fall without country effects while exports rise, the results imply that countries may not be as interested in liberalizing trade as selling to the world. 相似文献
66.
Heebyung Koh Author Vitae Christopher L. Magee Author Vitae 《Technological Forecasting and Social Change》2008,75(6):735-758
This paper extends a broad functional category approach for the study of technological capability progress recently developed and applied to information technology to a second key case—that of energy based technologies. The approach is applied to the same three functional operations—storage, transportation and transformation—that were used for information technology by first building a 100 plus year database for each of the three energy-based functional categories. In agreement with the results for information technology in the first paper, the energy technology results indicate that the functional approach offers a stable methodology for assessing longer time technological progress trends. Moreover, similar to what was found with information technology in the first study, the functional capability for energy technology shows continual—if not continuous—improvement that is best quantitatively described as exponential with respect to time. The absence of capability discontinuities—even with large technology displacement—and the lack of clear saturation effects are found with energy as it was with information. However, some key differences between energy and information technology are seen and these include:
- ?
- Lower rates of progress for energy technology over the entire period: 19-37% annually for Information Technology and 3-13% for Energy Technology.
- ?
- Substantial variability of progress rates is found within given functional categories for energy compared to relatively small variation within any one category for information technology. The strongest variation is found among capability progress among different energy types.
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- More challenging data recovery and metric definition for energy as compared to information technology.
67.
Christopher C. Moore Daniel J. Phaneuf Walter N. Thurman 《Environmental and Resource Economics》2011,50(1):1-26
In this article we evaluate a US Forest Service plan to mitigate damages from an invasive insect on public, forested land. We develop a dynamic model of infestation and control to explicitly account for biological interactions, baseline conditions, and uncertainty, thus creating a more complete picture of policy impacts than a static cost benefit analysis could provide. We combine the results of the dynamic model with an empirical study of nonmarket forest benefits to create a bioeconomic model of ecosystem management. Estimating the empirical model in a Bayesian framework allows us to treat the economic coefficients of the dynamic model as random variables. We specify distributions for the biological parameters and examine the effects of both biological and economic uncertainty on the predictive distribution of net benefits. We find that the net benefits of the program are positive, and that uncertainty in the biological model contributes substantially more to the variance of our estimate than does uncertainty over the valuation of the resource. 相似文献
68.
Tax incentives offered to attract firms engaged in foreign direct investment are often tied to performance requirements such as domestic content restrictions or adherence to environmental standards. The tax competition literature has repeatedly shown that competition between municipalities for mobile firms tends to drive taxes to low levels. One would expect a comparable result for burdensome performance requirements. Despite this, the evidence suggests that while taxes have indeed been driven down, performance requirements are as popular as ever. We explain this seeming conundrum by showing that in the presence of spillovers, binding performance requirements can act as a coordination device for firms. In equilibrium, municipalities choose performance requirements, which maximize joint surplus from investment. Competition between municipalities then transfers this surplus to firms via tax subsidies. 相似文献
69.
New Evidence on Gay and Lesbian Household Incomes 总被引:4,自引:0,他引:4
Christopher Carpenter 《Contemporary economic policy》2004,22(1):78-94
Using independent data from the Centers for Disease Control, the author tests a key assumption of previous research on gay and lesbian incomes: that same-sex unmarried partner households are, indeed, gay or lesbian. The author shows that this independent data suffers from less severe underreporting of same-sex unmarried partner households than the 1990 Decennial Census. Furthermore, individual level information on sexual behavior and family planning is used to show that these households exhibit sexual behavior that is systematically different from married and different-sex couples and that is consistent with a large body of public health and HIV literature on gay men and lesbians. Finally, the author replicates, confirms, and extends previously published Census-based results on the household income penalty faced by gay male couples, showing that these results are not an artifact of deficient data. He finds similar results for lesbian couples. (JEL J1 , J3 ) 相似文献
70.
The Lucas Paradox observes that capital flows predominantly to relatively rich countries, contradicting the neoclassical prediction that it should flow to poorer capital-scarce countries. In an influential study, Alfaro, Kalemli-Ozcan, and Volosovych (AKV) argue that cross-country variation in institutional quality can fully explain the Paradox, contending that if institutional quality is included in regression models explaining international capital inflows, a country’s level of economic development is no longer statistically significant. We replicate AKV’s results using their cross-sectional IFS capital flow data. Motivated by the importance of conducting inference in statistically adequate models, we focus on misspecification testing of alternative functional forms of their empirical model of capital flows. We show that their resolution of the Paradox relies on inference in a misspecified model. In models that do not fail basic misspecification tests, even though institutional quality is a significant determinant of capital inflows, a country’s level of economic development also remains a significant predictor. The same conclusions are reached using an extended dataset covering more recent IFS international capital flow data, first-differenced capital stock data and additional controls. 相似文献