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Economics Working Papers: Recent submissions
Now showing items 101-120 of 159
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(University of Oregon, Dept of Economics, 2003-03)We explore worldwide foreign direct investment location decisions by Japanese manufacturing firms from 1985 through 1991. Our conditional logit estimates provide evidence that firms’ location decisions are affected by ...
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(University of Oregon, Dept of Economics, 2003-09-01)The active "courting" of firms by municipalities, regions, and even nations has a long-standing history and the competition for firm location through a wide variety of incentives seems to have escalated to new heights in ...
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(University of Oregon, Dept. of Economics, 2003-05-16)We introduce the concept of a Misspecification Equilibrium to dynamic macroeconomics. Agents choose between a list of misspecified econometric models and base their selection on relative forecast performance. A Misspecification ...
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(University of Oregon, Dept. of Economics, 2003-04-30)We consider inflation and government debt dynamics when monetary policy employs a global interest rate rule and private agents forecast using adaptive learning. Because of the zero lower bound on interest rates, active ...
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(University of Oregon, Dept. of Economics, 2003-10-11)The development of tractable forward looking models of monetary policy has lead to an explosion of research on the implications of adopting Taylor-type interest rate rules. Indeterminacies have been found to arise for some ...
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(University of Oregon, Dept. of Economics, 2003-06-10)Bilateral tax treaties are an important method of international tax cooperation. I survey the existing literature on these agreements, highlighting the differences between the standard view that treaties increase foreign ...
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(University of Oregon, Dept. of Economics, 2003-06-10)We develop a Ramsey type model of economic growth in which the "Engine of Growth" is public capital accumulation. Public capital is a public good, and is financed by taxes on private output. The government may either use ...
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(University of Oregon, Dept. of Economics, 2003-04-10)Are federal Pell grants "appropriated" by universities through increases in tuition - consistent with what is known as the Bennett hypothesis? Based on a panel of 71 universities from 1983 to 1996, we find little evidence ...
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(University of Oregon, Dept. of Economics, 2003-03-20)Available evidence suggests high intergenerational correlation of economic status, and persistent disparities in health status between the rich and the poor. This paper proposes a novel mechanism linking the two. We introduce ...
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(University of Oregon, Dept. of Economics, 2003-01-01)Longstanding debate over the appropriate social discount rate for public projects stems from our lack of knowledge about how individual discount rates vary across people and across choice contexts. Using a sample of roughly ...
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(University of Oregon, Dept. of Economics, 2002-07-20)Willingness to pay for climate change mitigation depends on people's perceptions about just how bad things will get if nothing is done. Individual subjective distributions for future climate conditions are combined with ...
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(University of Oregon, Dept. of Economics, 2001-07-14)Willingness to support public programs for risk management often depends on individual subjective risk perceptions in the face of uncertain science. As part of a larger study concerning climate change, we explore individual ...
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(University of Oregon, Dept. of Economics, 2001-11-05)We develop and evaluate a test of choice set misspecification for a multinomial logit choice model. This test determines whether the choice set designated by the researcher mistakenly assigns relevant substitutes to the ...
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(University of Oregon, Dept. of Economics, 2003-02-01)We study bank-based and market-based financial systems in an endogenous growth model. Lending to firms is fraught with moral hazard as owner-managers may reduce investment profitability to enjoy private benefits. Bank ...
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(University of Oregon, Dept. of Economics, 2003-02-27)In this paper we propose a new method to associate a coalitional game with each strategic game. The method is based on the lower value of matrix games. We axiomatically characterize this new method, as well as the method ...
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(University of Oregon, Dept. of Economics, 2003-02-14)Numerous researchers have incorporated labor or credit market frictions within simple neoclassical models to (i) facilitate quick departures from the Arrow-Debreu world, thereby opening up the role for institutions, (ii) ...
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(University of Oregon, Dept. of Economics, 2003-01-01)We introduce monitored bank loans and non-monitored tradeable securities as sources of external finance for firms in a dynamic general equilibrium model. Due to frictions arising from moral hazard, access to credit and ...
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(University of Oregon, Dept. of Economics, 2003-01-01)Distortions in private investment due to credit frictions, and in public investment due to corruption and bureaucratic inefficiencies, have both been suggested as important factors in accounting for the cross-country per ...
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(University of Oregon, Dept. of Economics, 2002-07-18)We consider a linear stochastic univariate rational expectations model, with a predetermined variable, and consider solutions driven by an extraneous finite state Markov process as well as by the fundamental noise. We ...
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(University of Oregon, Dept. of Economics, 2002-11-08)We review the recent work on interest rate setting, which emphasizes the desirability of designing policy to ensure stability under private agent learning. Appropriately designed expectations based rules can yield optimal ...
Now showing items 101-120 of 159