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作者：Campa, JM; Goldberg, LS
作者单位：National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：Using two decades of annual data, we explore the links between real exchange rates and employment, wages, and overtime activity in U.S. manufacturing industries. Especially in industries with lower price-over-cost markups, exchange rates have statistically significant effects on industry wages, with the magnitude of these effects rising as industries increase their export orientation and declining as imported input use becomes more important. Exchange rate implications for jobs and hours worke...
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作者：Scheve, KF; Slaughter, MJ
作者单位：Yale University; Dartmouth College; National Bureau of Economic Research
摘要：This paper uses three years of individual-level data to analyze the determinants of individual preferences over immigration policy in the United States. We have two main empirical results. First, less-skilled workers are significantly more likely to prefer limiting immigrant inflows into the United States. Our finding suggests that, over the time horizons that are relevant to individuals when evaluating immigration policy, individuals think that the U.S, economy absorbs immigrant inflows at le...
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作者：Morgenstern, RD; Pizer, WA; Shih, JS
作者单位：Resources for the Future
摘要：Reported expenditures for environmental protection are often cited as an assessment of the burden of current regulatory efforts. However. the potential for both incidental savings and uncounted costs means that the actual burden could be either higher or lower than these reported values. Using a production cost model that considers the possible interaction between environmental and non-environmental expenditures, we directly estimate the dollar-for-dollar incidental savings/uncounted costs ari...
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作者：Feinberg, RM
作者单位：American University; National Science Foundation (NSF)
摘要：Although there is a considerable literature on the role of market structure in banking markets, no attention has been given to the impact of the competitive discipline provided by credit unions on consumer credit rates offered by banks. After presenting a theoretical framework for understanding the impact credit unions should be expected to have, this article analyzes a pooled cross-sectional, time-series sample with roughly 1,000 observations on relatively small United States markets, with th...
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作者：Ludvigson, S; Paxson, CH
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; Princeton University
摘要：A wide range of empirical applications rely on linear approximations to dynamic Euler equations. Among the most notable of these is the large and growing literature on precautionary saving that examines how consumption growth and saving behavior are affected by uncertainty and prudence. Linear approximations to Euler equations imply a linear relationship between expected consumption growth and uncertainty in consumption growth, with a slope coefficient that is a function of the coefficient of ...
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作者：Aaronson, D
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Chicago
摘要：This paper tests a textbook consequence of competitive markets: that an industry-wide increase in the price of labor is passed on to consumers through an increase in prices. Using several data sources on restaurant prices, I explore the price impact of minimum-wage hikes in Canada and the United States. Particular attention is paid to the timing of the-se price responses to gauge the stickiness of minimum-wage cost shocks. I find that restaurant prices generally rise with changes in the wage b...
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作者：Peterson, SP
作者单位：Virginia Commonwealth University
摘要：Empirical studies of forecasts often fail to reconcile the rational expectations hypothesis with a minimum mean square error objective function. Recent studies, however, have argued that observed bias may be rational in certain advising games, or for objective functions that include publicity or forecasting reputation as additional arguments. This paper analyzes multistep forecasting behavior for individuals forecasting bond yields in the Blue Chip Financial Survey over the 1987-1996 period an...
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作者：Butler, RJ; Baldwin, ML; Johnson, WG
作者单位：Brigham Young University; University of North Carolina; East Carolina University; Arizona State University; Arizona State University-Tempe
摘要：We estimate models of workers compensation claim duration for a sample of Canadian workers with serious low-back injuries. The models extend recent duration research by allowing worker characteristics to affect duration dependence through the nonlocation parameters of the duration distribution. We compare results for modified Weibull models and piecewise-constant hazard rate models of duration dependence. The results show that workers' responses to elapsed claim duration vary significantly wit...
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作者：Golan, A; Perloff, JM; Shen, EZ
作者单位：American University; University of California System; University of California Berkeley
摘要：A new information-based approach for estimating systems of many equations with nonnegativity constraints is presented. This approach, called generalized maximum entropy (GME), is more practical and efficient than traditional maximum-likelihood methods. The GME method is used to estimate an almost ideal demand system for five types of meat using cross-sectional data from Mexico, where most households did not buy at least one type of meat during the survey week. The system of demands is shown to...
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作者：Asiedu, E; Esfahani, HS
作者单位：University of Kansas; University of Illinois System; University of Illinois Urbana-Champaign
摘要：This paper theoretically and empirically examines ownership structure in foreign direct investment (FDI) projects. We show that in choosing an ownership structure, foreign investors, local entrepreneurs, and government consider the specific, costly-to-market assets that the participants and the country bring to the project, In equilibrium, the foreign equity share rises with the importance of foreign investor assets and declines with the contribution of local assets towards the amount of surpl...
