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作者：Campa, JM; Goldberg, LS
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; National Bureau of Economic Research
摘要：We provide cross-country and time series evidence on the extent of exchange rate pass-through into the import prices of 23 OECD countries. We find compelling evidence of partial pass-through in the short run, especially within manufacturing industries. Over the long run, producer currency pricing is more prevalent for many types of imported goods. Countries with higher rates of exchange rate volatility have higher pass-through elasticities, although macroeconomic variables have played a minor ...
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作者：Mobarak, AM
作者单位：University of Colorado System; University of Colorado Boulder
摘要：Growth stability is an important objective-because development requires sustained increases in income, because volatility is costly for the poor, and because volatility deters growth. We study the determinants of average growth and its volatility as a two-equation system, and find that higher levels of democracy and diversification lower volatility, whereas volatility itself reduces growth. Muslim countries instrument for democracy, and measures of diversification identify volatility. In contr...
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作者：Harris, R; Siegel, DS; Wright, M
作者单位：University of Glasgow; Rensselaer Polytechnic Institute; University of Nottingham
摘要：We assess the total factor productivity of 35,752 manufacturing establishments before and after management buyouts (MBOs). MBO plants are less productive than comparable plants before the transfer of ownership. They experience a substantial increase in productivity after a buyout, which appears to be due to measures undertaken by new owners to reduce the labor intensity of production, via outsourcing of intermediate goods and materials. These findings, which are pervasive across industries, im...
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作者：Hall, RE
作者单位：Stanford University; National Bureau of Economic Research
摘要：I consider three views of the labor market. In the first, wages are flexible and employment follows the principle of bilateral efficiency. Workers never lose their jobs because of sticky wages. In the second, wages are sticky and inefficient layoffs do occur. In the third, wages are also sticky, but employment governance is efficient. I show that the behavior of flows in the labor market strongly favors the third view. In the modern U. S. economy, recessions do not begin with a burst of layoff...
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作者：Saiz, A; Zoido, E
作者单位：University of Pennsylvania
摘要：Is there a shortage of critical foreign language skills in the United States? Recent concerns about national security and economic globalization suggest increased demand and wage premia for foreign language speakers. The use of English as the international language, however, suggests a decrease in demand for foreign language skills in the United States. To address this question, we study a representative sample of U. S. college graduates. Ordinary least squares regressions with controls for co...
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作者：Traca, DA
作者单位：Universite Libre de Bruxelles
摘要：This paper addresses the link between trade exposure and wage volatility. First, it shows, in a simple model, that trade exposure magnifies the impact of domestic productivity shocks on industry- specific labor demand, particularly for the less export-intensive industries, and that, if labor is not perfectly mobile, this implies a rise in wage volatility. Then, it tests these predictions, using industry data. The empirical results confirm that wage volatility increases with an industry's degre...
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作者：Wooldridge, JM
作者单位：Michigan State University
摘要：I derive conditions under which a class of fixed-effects estimators consistently estimates the population-averaged slope coefficients in panel data models with individual- specific slopes, where the slopes arc allowed to be correlated with the covariates. In addition to including the usual fixed-effects estimator, the results apply to estimators that eliminate individual- specific trends. I apply the results, and propose alternative estimators, to estimation of average treatment in a class of ...
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作者：Alessie, R; Hochguertel, S; van Soest, A
作者单位：Utrecht University; Vrije Universiteit Amsterdam; RAND Corporation; Tilburg University
摘要：This paper analyzes the ownership dynamics of stocks and mutual funds, using representative household panel data, the Dutch CentER Savings Survey 1993-1998. A bivariate dynamic binary-choice model is introduced, allowing for interactions between the two types of assets. We find that unobserved heterogeneity and state dependence play a large role for both types of assets. The positive relation between ownership of one type in one period and the other type in the next period is explained by corr...
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作者：Di Tella, R; MacCulloch, R
作者单位：Harvard University; Imperial College London
摘要：In the many years since their introduction, positive theories of inflation have rarely been tested. This paper documents a negative relationship between inflation and the welfare state (proxied by the parameters of the unemployment benefit program) that is to be expected in such theories. Because unemployment benefits make the monetary authority less concerned about the plight of the unemployed, building a welfare state has a similar effect to appointing a conservative central banker. The rela...
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作者：Gertler, P; Levine, DI; Ames, M
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; Harvard University
摘要：Loss of a parent is one of the most traumatic events a child can face. If loss of a parent reduces investments in children, it can also have long-lasting implications. This study uses parametric and seminonparametric matching techniques to estimate how one human capital investment, school enrollment, is affected by a parent's recent death. We analyze data from 600,000 households from Indonesia's National Socioeconomic Survey (Susenas) during 1994-1996. We find a parent's recent death has a lar...
