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最新文章

• Educational reform, ability, and family background AI翻译
  作者：Meghir, C; Palme, M
  作者单位：University of London; London School Economics & Political Science; University College London; University of London; University College London; Stockholm University; Linnaeus University; Vaxjo University
• Wealth as a determinant of comparative advantage AI翻译
  作者：Wynne, J
  作者单位：Duke University
  摘要：This paper shows that a country's wealth can be an important determinant of comparative advantage when access to credit differs across sectors of the economy. Wealthier nations exhibit a comparative advantage toward goods produced in sectors facing more severe financial imperfections. These sectors are typically populated by small firms. Empirically this paper documents that these sectors are also labor intensive. Consequently, this theory partially offsets traditional sources of comparative a...
• The sensitivity of long-term interest rates to economic news: Evidence and implications for macroeconomic models AI翻译
  作者：Gürkaynak, RS; Sack, B; Swanson, E
  作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; Ihsan Dogramaci Bilkent University
• Estimation and inference of impulse responses by local projections AI翻译
  作者：Jordà, O
  作者单位：University of California System; University of California Davis
  摘要：This paper introduces methods to compute impulse responses without specification and estimation of the underlying multivariate dynamic system. The central idea consists in estimating local projections at each period of interest rather than extrapolating into increasingly distant horizons from a given model, as it is done with vector autoregressions (VAR). The advantages of local projections are numerous: (1) they can be estimated by simple regression techniques with standard regression package...
• Patent citations and the geography of knowledge spillovers: A reassessment: Reply AI翻译
  作者：Thompson, P; Fox-Kean, M
  作者单位：State University System of Florida; Florida International University; University of Houston System; University of Houston
• Patent citations and the geography of knowledge spillovers: A reassessment AI翻译
  作者：Thompson, P; Fox-Kean, M
  作者单位：State University System of Florida; Florida International University; University of Houston System; University of Houston
• The quantity and quality of life and the evolution of world inequality AI翻译
  作者：Becker, GS; Philipson, TJ; Soares, RR
  作者单位：University of Chicago; University of Chicago; University System of Maryland; University of Maryland College Park
  摘要：GDP per capita is usually used to proxy for the quality of life of individuals living in different countries. Welfare is also affected by quantity of life, however, as represented by longevity. This paper incorporates longevity into an overall assessment of the evolution of cross-country inequality and shows that it is quantitatively important. The absence of reduction in cross-country inequality up to the 1990s documented in previous work is in stark contrast to the reduction in inequality af...
• Optimal monetary policy with relative price distortions AI翻译
  作者：Yun, T
  作者单位：Kookmin University; Federal Reserve System - USA; Federal Reserve System Board of Governors
  摘要：This paper analyzes optimal monetary policy in a sticky price model with Calvo-type staggered price-setting. In the paper, the optimal monetary policy maximizes the expected utility of a representative household without having to rely on a. set of linearly approximated equilibrium conditions, given the distortions associated with the staggered price-setting. It shows that the complete stabilization of the price level is optimal in the absence of initial price dispersion, while optimal inflatio...