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1.
I measure the importance of sectoral shocks in US aggregate output by using the World Input–Output Table (WIOT). The WIOT allows me to correct potential sub-graph bias in previous literature, caused by using only the US industrial production input–output table. I report results from three closely related models to show how sensitive the analyses are to different specifications. The estimates vary from 10% to 45%. 相似文献
2.
U.S. states can implement programs to pursue damage recovery when firms cause natural resource damages (NRDs). We present
new empirical evidence that such programs have effectively reduced oil spills in states that adopt them. However, only 34
states had implemented such programs by 2003. We analyze data on 50 states and the District of Columbia from 1980 to 2003
to ascertain the likely determinants of NRD program adoption. We find that states with many environmental accidents adopt
programs more rapidly, while income and interest-group pressure have no significant impact on the process. While non-adopting
states might benefit from such programs, at least NRD programs are being adopted most rapidly where they can do the most good.
相似文献
3.
This study examines how the host country experience of Japanese multinational corporations (MNCs) affects their staffing policies
for executive manager positions at foreign affiliates. Hypotheses on executive staffing policies for foreign affiliates are
tested using survey data collected from 103 Japanese affiliates in Korea. Findings show that the level of global integration
and the degree of centralization of decision-making positively affect an assignment of parent country nationals as executive
managers of foreign affiliates. We further find that foreign affiliates’ experience in a host country moderates the effects
of both global integration and centralization on staffing decisions for the affiliates.
相似文献
Namgyoo Kenny ParkEmail: |
4.
5.
A model of rational mortgage refinancing is developed where the drift and volatility of interest rate process switch between
two regimes. Because of the possibility of a regime shift, the optimal refinancing policy is characterized by the different
threshold of interest differential for each regime. Numerical simulation demonstrates that the optimal refinancing threshold
in each regime can be smaller or larger than the threshold under single-regime models. Finally, we evaluate the predictions
of the model, based on the estimated parameters for a two-regime model to capture the evolution of the mortgage rates in the
US. Our model can produce both late and early refinancing, which is consistent with the observed refinancing behavior.
The views expressed in this paper are solely those of the authors and do not necessarily reflect official positions of the
Sumitomo Trust and Banking Co., Ltd. 相似文献
6.
Private agents make large contributions to networks of conserved land, but little is known about how private agents’ decisions might be altered by government actions. This paper explores the impact of public conservation and public policy on the quantity and configuration of private land conservation and the extent to which the social optimum is reached. Because land conservation benefits often have thresholds and spatial characteristics, we consider the impact of different land conservation benefit functions on the patterns of conservation created by the interaction of private and public agents. We find that public conservation crowds private conservation in or out depending on whether marginal conservation benefits increase or decrease with total acreage, and crowding out is mitigated by the presence of budget constraints. We show how land conservation agents might interact strategically in space depending on preferences over fragmentation, and we explore that spatial strategic interaction in a case with a regional land trust and a case with hot-spot parcels. We identify when government policies, such as agglomeration bonuses and mitigating coordination costs, are most likely to increase the social benefits provided by private land conservation agents. 相似文献
7.
Fumio Hayashi Albert Ando Richard Ferris 《Journal of the Japanese and International Economies》1988,2(4)
This paper investigates whether the elderly save or dissave in light of two newly available sets of cross-section micro data, the 1983 “Survey of Consumer Finance” for the United States and the 1984 “National Survey of Family Income and Expenditure” for Japan. Contrary to dominant earlier findings we find for the United States that families after retirement dissave on average about a third of their peak wealth by the time of death, leaving the rest (mostly their homes) as bequests. For Japan, special handling is made to eliminate possible sample selection bias due to the different economic characteristics of the elderly forming independent households and those living with children. We find that the elderly belonging to both groups continue to save, and moreover, there appear to be significant signs of ongoing wealth transfer between the generations. The data in both countries also show that the elasticity of saving with respect to a life time income measure is significantly greater than unity, and more strongly so within higher age groups. J. Japan. Int. Econ., December 1988, 2(4), pp. 450–491. Department of Economics, University of Pennsylvania, Philadelphia, PA 19104-6297, and National Bureau of Economic Research. 相似文献
8.
This paper critically analyses the approach to the determination of values, or commodity contents, developed by Fujimoto and Opocher in 2009. Even setting aside various problematic definitional issues, the broader implications of the approach for classical theory are unclear. First, the value‐theoretic definitions of skill differentials and bads capture at best necessary conditions and it is unlikely that such definitions can be provided by focusing only on the technological data of the economy. Second, the approach has various interesting implications concerning the relation between productiveness and exploitation that directly contradict some of the authors' claims. 相似文献
9.
Journal of Business Ethics - 相似文献
10.
Faith H. Ando 《The Review of Black Political Economy》1988,16(4):77-109
This article presents some of the results from an unusual survey of small business owners who differ in their ethnicity: Asians,
blacks, Hispanics, and nonminorities. Contrary to the prevailing view of black and Hispanic business owners and their firms,
the blacks and Hispanics in the data base—in general and on average—had the same human and financial capital as their Asian
and nonminority counterparts. As a result, the black-owned and Hispanic-owned firms performed as well as the Asian-owned and
nonminority-owned firms. Nevertheless, black business owners had lower success rates than nonminority men in obtaining commercial
bank loans, although the terms for loans granted were similar for the two groups. In light of the apparent credit discrimination,
U.S. Small Business Administration (SBA) loans remain an important source of debt-type capital to black-owned firms. 相似文献