2期

最新文章

• What determines individual trade-policy preferences? AI翻译
  作者：Scheve, KF; Slaughter, MJ
  作者单位：Dartmouth College; National Bureau of Economic Research; Yale University
  摘要：This article provides new evidence on the determinants of individual trade-policy preferences using individual-level survey data for the United States. There are two main empirical results. First, we find that factor type dominates industry of employment in explaining support for trade barriers. Second, we find that home ownership also matters for individuals' trade-policy preferences. Independent of factor type, home ownership in counties with a manufacturing mix concentrated in comparative-d...
• Economics of cities: Theoretical perspectives AI翻译
  作者：Puga, D
  作者单位：University of Toronto
• The impact of international trade on wages AI翻译
  作者：Knetter, MM
  作者单位：Dartmouth College
• Option pricing and foreign investment under political risk AI翻译
  作者：Cherian, JA; Perotti, E
  作者单位：University of Amsterdam; Bank of America Corporation
  摘要：The paper analyses asset prices in a context of uncertainty over future government policy. As current policy is maintained, perceived risk abates thus leading to a gradual appreciation of asset prices and a gradual decrease in their conditional variance. Option values computed under this process have time series and the term structure of conditional volatility, which, in general, are downward sloping. In price series without a policy reversal, implied volatility from option prices will exceed ...
• Trade liberalization and labor demand elasticities: evidence from Turkey AI翻译
  作者：Krishna, P; Mitra, D; Chinoy, S
  作者单位：State University System of Florida; Florida International University; Brown University; Stanford University
  摘要：In the recent debate over the impact of trade reform on factor markets, it has been argued that trade liberalization will lead to an increase in labor-demand elasticities - thus placing labor markets under increased pressure. Using Turkish plant-level data spanning the course of a dramatic trade liberalization, we test this idea. However, we are unable to find any empirical support for this supposed theoretical link: in most of the industries we consider, we cannot reject the hypothesis of no ...
• Tax policy and consumer spending: evidence from Japanese fiscal experiments AI翻译
  作者：Watanabe, K; Watanabe, T; Watanabe, T
  作者单位：Bank of Japan; Bank of Japan; Hitotsubashi University
  摘要：This paper studies the extent to which the impact of tax policy on consumer spending differs between temporary and permanent, as well as anticipated and unanticipated tax changes. To discriminate between them, we use institutional information such as legal distinction between temporary and permanent tax changes, as well as timing of policy announcement and implementation. We find that the impact of temporary changes is significantly smaller than the impact of permanent changes. We also find th...
• Dynamic evolution of income distribution and credit-constrained human capital investment in open economies AI翻译
  作者：Ranjan, P
  作者单位：University of California System; University of California Irvine
  摘要：This paper shows how the degree of credit-market imperfections affects the steady-state distributions of income and wealth, human capital investment, and the pattern of comparative advantage. The impact of trade liberalization on the accumulation of human capital depends on how it affects (1) the incentives to accumulate human capital, (2) the borrowing constraints facing human capital accumulation, and (3) the distribution of income and wealth. If the degree of credit market imperfections is ...
• The human capital of stockholders and the international diversification puzzle AI翻译
  作者：Palacios-Huerta, I
  作者单位：Brown University
  摘要：This paper evaluates the extent of the international diversification puzzle when human capital is considered part of the wealth of nations. The analysis examines whether (i) the inclusion of human capital in the wealth of portfolio of individuals, (ii) the different human capital assets held by stockholders and non-stockholders, and (iii) frictions in human capital markets, can help explain the puzzle. The methodology consists of comparing Hansen-Jagannathan bounds on the stochastic discount F...
• Introduction to the symposium on the Japanese economic slump of the 1990s AI翻译
  作者：Kashyap, A; Rose, AK
  作者单位：National Bureau of Economic Research; Center for Economic & Policy Research (CEPR)
• The role of consumption substitutability in the international transmission of monetary shocks AI翻译
  作者：Tiile, C
  作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York
  摘要：This paper develops a general framework to analyze the impact of monetary shocks in an open economy, focusing on the role of the degree of substitutability between goods produced in different countries. We extend the contributions by Obstfeld and Rogoff [Obstfeld, M., Rogoff, K., 1995. Exchange rate dynamics redux. Journal of Political Economy 103, 624-659] and Corsetti and Pesenti [Corsetti, G., Pesenti, P., 1997. Welfare and Macroeconomic Interdependence, NBER Working Paper 6307] to show tha...