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作者：Redding, Stephen J.; Sturm, Daniel M.; Wolf, Nikolaus
作者单位：Princeton University; University of London; London School Economics & Political Science; Humboldt University of Berlin
摘要：A central prediction of a large class of theoretical models is that industry location is not uniquely determined by fundamentals. Despite the theoretical prominence of this idea, there is little systematic evidence in support of its empirical relevance. This paper exploits the division of Germany after World War II and the reunification of East and West Germany as an exogenous shock to industry location. Focusing on a particular economic activity, an air hub, we develop a body of evidence that...
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作者：Harrison, Ann; McMillan, Margaret
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; Tufts University
摘要：Using firm-level data collected by the U. S. Bureau of Economic Analysis, we estimate the impact on U. S. manufacturing employment of changes in foreign affiliate wages. We show that the motive for offshoring and, consequently, the location of offshore activity, significantly affects the impact of offshoring on parent employment. In general, offshoring to low-wage countries substitutes for domestic employment. However, for firms that do significantly different tasks at home and abroad, foreign...
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作者：Jacks, David S.; O'Rourke, Kevin H.; Williamson, Jeffrey G.
作者单位：Simon Fraser University; National Bureau of Economic Research; Trinity College Dublin; Harvard University; University of Wisconsin System; University of Wisconsin Madison
摘要：Poor countries are more volatile than rich countries, and this volatility impedes their growth. Furthermore, commodity prices are a key source of that volatility. This paper explores price volatility since 1700 to offer three stylized facts: commodity price volatility has not increased over time, commodities have always shown greater price volatility than manufactures, and world market integration breeds less commodity price volatility. Thus, economic isolation is associated with much greater ...
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作者：Baird, Sarah; Friedman, Jed; Schady, Norbert
作者单位：George Washington University; The World Bank
摘要：Health and income are strongly correlated both within and across countries, yet the extent to which improvements in income have a causal effect on health status remains controversial. We investigate whether short-term fluctuations in aggregate income affect infant mortality using an unusually large data set of 1.7 million births in 59 developing countries. We show a large, negative association between per capita GDP and infant mortality. Female infant mortality is more sensitive than male infa...
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作者：Coibion, Olivier; Gorodnichenko, Yuriy
作者单位：William & Mary; National Bureau of Economic Research; University of California System; University of California Berkeley
摘要：We consider a dynamic stochastic general equilibrium model (DSGE) in which firms follow one of four price-setting regimes: sticky prices, sticky information, rule of thumb, or full-information flexible prices. The parameters of the model, including the fraction of each type of firm, are estimated by matching the moments of the observed variables of the model to those found in the data. We find that sticky price firms and sticky information firms jointly account for over 80% of firms in the mod...
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作者：Pickering, Andrew; Rockey, James
作者单位：University of Bristol; University of Leicester
摘要：We analyze the impact of ideology on the size of government. In a simple model, the government sets redistribution and provision of public services according to the preferences of the median voter. Ideology is defined in terms of preferences for public services, and the impact of ideology on the size of government is shown to increase with mean income. This idea is tested using measures of ideology based on party manifestos. We show that the interaction of ideology and mean income has a major ...
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作者：Van Ourti, Tom; Clarke, Philip
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; University of Sydney; Australian National University
摘要：We propose a first-order bias correction term for the Gini index to reduce the bias due to grouping. It depends on only the number of individuals in each group and is derived from a measurement error framework. We also provide a formula for the remaining second-order bias. Both Monte Carlo and EU and U. S. empirical evidence show that the first-order correction reduces a considerable share of the bias, but that some remaining second-order bias is increasing in the variance. We propose a proced...
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作者：Roine, Jesper; Waldenstrom, Daniel
作者单位：Stockholm School of Economics; Uppsala University
摘要：We use newly compiled top income data and structural breaks techniques to estimate common trends and breaks in inequality across countries over the twentieth century. Our results both confirm earlier findings and offer new insights. In particular, the division into an Anglo-Saxon and a Continental European experience is not as clear-cut as previously suggested. Some Continental European countries seem to have, experienced increases in top income shares, just as Anglo-Saxon countries have, but ...
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作者：Chun, Hyunbae; Kim, Jung-Wook; Morck, Randall
作者单位：Sogang University; Seoul National University (SNU); University of Alberta
摘要：U.S. firms' stock return volatility rose fivefold from 1971 through 2000 and then reverted to near 1971 levels by 2006. This was driven mainly by a rise and fall in the firm-specific, rather than systematic, component of volatility. Firm-level total factor productivity growth volatility exhibited a similar pattern. We hypothesize that firm heterogeneity, reflected in firm-specific volatility, rises as a new general purpose technology (GPT) propagates across the economy and then ebbs once the G...
