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作者：Corsetti, Giancarlo; Meier, Andre; Mueller, Gernot J.
作者单位：University of Cambridge; Center for Economic & Policy Research (CEPR); International Monetary Fund; University of Bonn
摘要：The short-run effects of fiscal policy depend not only on current tax and spending choices, but also on expectations about future policy adjustment. While general equilibrium models typically restrict medium-term adjustment to taxation, we highlight the importance of government spending dynamics. First, we provide time series evidence for the United States suggesting that an exogenous increase in government spending prompts a rise in public debt, followed over time by a reduction in spending b...
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作者：Taylor, John B.; Wieland, Volker
作者单位：Stanford University; Goethe University Frankfurt
摘要：In this paper, we investigate the comparative properties of empirically estimated monetary models of the U.S. economy using a new database of models designed for such investigations. We focus on three representative models due to Christiano, Eichenbaum, and Evans (2005), Smets and Wouters (2007), and Taylor (1993a). Although these models differ in terms of structure, estimation method, sample period, and data vintage, we find surprisingly similar economic impacts of unanticipated changes in th...
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作者：Morley, James; Piger, Jeremy
作者单位：University of New South Wales Sydney; University of Oregon
摘要：The business cycle is a fundamental yet elusive concept in macroeconomics. In this paper, we consider the problem of measuring the business cycle. First, we argue for the output-gap view that the business cycle corresponds to transitory deviations in economic activity away from a permanent, or trend, level. Then we investigate the extent to which a general model-based approach to estimating trend and cycle for the U.S. economy leads to measures of the business cycle that reflect models versus ...
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作者：Campante, Filipe R.; Chor, Davin
作者单位：Harvard University; Singapore Management University
摘要：We investigate how the link between individual schooling and political participation is affected by country characteristics. Using individual survey data, we find that political participation is more responsive to schooling in land-abundant countries and less responsive in human capital-abundant countries, even while controlling for country political institutions and cultural attitudes. We find related evidence that political participation is less responsive to schooling in countries with a hi...
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作者：Fryer, Roland G., Jr.; Kahn, Lisa; Levitt, Steven D.; Spenkuch, Jorg L.
作者单位：Harvard University; National Bureau of Economic Research; University of Chicago
摘要：Since 1970, the fraction of mixed-race black-white births has increased nearly ninefold. This paper describes basic facts about the behaviors and outcomes of black-white mixed-race individuals. Unsurprisingly, on a host of background and achievement characteristics, as well as adult outcomes, mixed-race individuals fall in between whites and blacks. When it comes to engaging in risky and antisocial adolescent behavior, however, mixed-race adolescents are stark outliers compared to both blacks ...
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作者：Lampe, Ryan
作者单位：DePaul University
摘要：This paper investigates whether patent applicants strategically withhold citations to material prior art. Citation data suggest that applicants withhold between 21% and 33% of relevant citations. Variation in withholdings is explained by patent portfolio size and indicators of patent value. These data also highlight important differences across technology classes. In particular, firms are significantly less likely to withhold a citation when applying for chemical and drug patents. Robustness c...
