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作者：Obstfeld, M; Shambaugh, JC; Taylor, AM
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; Centre for Economic Policy Research - UK; Dartmouth College; University of California System; University of California Davis
摘要：The exchange-rate regime is often seen as constrained by the monetary policy trilemma, which imposes a stark tradeoff among exchange stability, monetary independence, and capital market openness. Yet the trilemma has not gone without challenge. Some argue that under the modern float there could be limited monetary autonomy; others, that even under the classical gold standard domestic monetary autonomy was considerable. This paper studies the coherence of international interest rates over more ...
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作者：Shimer, R
作者单位：University of Chicago
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作者：Bento, AM; Cropper, ML; Mobarak, AM; Vinha, K
作者单位：University System of Maryland; University of Maryland College Park; The World Bank; University of Colorado System; University of Colorado Boulder; Universidad de los Andes (Colombia)
摘要：We examine the effects of urban form and public transit supply on the commute mode choices and annual vehicle miles traveled ( VMTs) of households living in 114 urban areas in 1990. The probability of driving to work is lower the higher are population centrality and rail miles supplied and the lower is road density. Population centrality, jobs-housing balance, city shape, and road density have a significant effect on annual household VMTs. Although individual elasticities are small absolute va...
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作者：Gould, ED; Pashigian, BP; Prendergast, CJ
作者单位：Hebrew University of Jerusalem; Centre for Economic Policy Research - UK; IZA Institute Labor Economics; University of Chicago
摘要：This paper demonstrates that mall store contracts are written to internalize externalities through both an efficient allocation and pricing of space, and an efficient allocation of incentives across stores. Certain stores generate externalities by drawing customers to other stores, whereas many stores primarily benefit from external mall traffic. Therefore, to varying degrees, the success of each store depends upon the presence and effort of other stores, and the effort of the developer to att...
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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...
