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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：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：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：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：Black, SE; Lynch, LM
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; Tufts University; National Bureau of Economic Research
摘要：Using data from a unique nationally representative, sample of businesses, we examine the impact of workplace practices, information technology, and human capital investments on productivity. We estimate an augmented Cobb-Douglas production function with both cross section and panel data covering the period of 1987-1993, using both within and GMM estimators. We find that it is not whether an employer adopts a particular work practice but rather how that work practice is actually implemented wit...
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作者：Thurman, WN; Fox, EJ; Bingham, TH
作者单位：North Carolina State University; Research Triangle Institute
摘要：Economic effects of public policy alternatives often are analyzed with simulation models. The value of simulation is enhanced when model parameters can credibly be estimated econometrically. But unrestricted estimation can be expected to result in problematic estimates, for example, estimated parameters contrary in sign to what economic theory dictates. The information contract curve (ICC), developed by Learner, provides a flexible means to impose regularity on estimated parameters at minimum-...
