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作者：Yang, Dean
作者单位：University of Michigan System; University of Michigan; National Bureau of Economic Research
摘要：This paper distinguishes between target-earnings and life cycle motivations for return migration by examining how Philippine migrants' return decisions respond to major, unexpected exchange rate changes in their overseas locations (due to the Asian financial crisis). Overall, the evidence favors the life cycle explanation: more favorable exchange rate shocks lead to fewer migrant returns. A 10% improvement in the exchange rate reduces the 12-month return rate by 1.4 percentage points. However,...
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作者：Milanovic, Branko
作者单位：The World Bank
摘要：We would expect that the process of globalization between 1870 and 1914 and subsequent disintegration of the world economy during the interwar period would have led first to income convergence and then to income divergence between the participating countries. But in fact we find stronger evidence for income convergence during the interwar period than during the first globalization. Similarly, the average level of import protection in the world cannot be shown to have either helped or hampered ...
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作者：Blomberg, S. Brock; Hess, Gregory D.
作者单位：Claremont Colleges; Claremont Graduate University; Claremont McKenna College
摘要：We investigate the empirical effect of violence, as compared to other trade impediments, on trade flows. Our analysis is based on a panel data set with annual observations on 177 countries from 1968 to 1999, which brings together information from the Rose data set, the ITERATE data set for terrorist events, and data sets of external and internal conflict. We explore these data with traditional and theoretical gravity models. We calculate that, for a given country year, the presence of terroris...
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作者：Silva, J. M. C. Santos; Tenreyro, Silvana
作者单位：Universidade de Lisboa; University of London; London School Economics & Political Science; University of London; London School Economics & Political Science
摘要：Although economists have long been aware of Jensen's inequality, many econometric applications have neglected an important implication of it: under heteroskedasticity, the parameters of log-linearized models estimated by OLS lead to biased estimates of the true elasticities. We explain why this problem arises and propose an appropriate estimator. Our criticism of conventional practices and the proposed solution extend to a broad range of applications where log-linearized equations are estimate...
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作者：Glick, Reuven; Guo, Xueyan; Hutchison, Michael
作者单位：Federal Reserve System - USA; Federal Reserve Bank - San Francisco; University of California System; University of California Santa Cruz
摘要：Are countries with unregulated capital flows more vulnerable to currency crises? Efforts to answer this question properly must control for self-selection bias, because countries with liberalized capital accounts may also have sounder economic policies and institutions that make them less likely to experience crises. We employ a matching and propensity-score methodology to address this issue in a panel analysis of developing countries. Our results suggest that, after controlling for sample sele...
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作者：Alcacer, Juan; Gittelman, Michelle
作者单位：New York University
摘要：Analysis of patent citations is a core methodology-in the study of knowledge diffusion. However, citations made by patent examiners have not been separately reported, adding unknown noise to the data. We leverage a recent change in the reporting of patent data showing citations added by examiners. The magnitude is high: two-thirds of citations on the average patent are inserted by examiners. Furthermore, 40% of all patents have all citations added by examiners. We analyze the distribution of e...
