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Economics Working Papers: Recent submissions
Now showing items 41-60 of 159
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(University of Oregon, Dept of Economics, 2006)Using recently developed indices of fractionalization and polarization, we analyze the direct and indirect effects of ethnic and religious heterogeneity on income inequality and on welfare programs across US states. We ...
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(University of Oregon, Dept of Economics, 2006-08-28)Under rational expectations and risk neutrality the linear projection of exchange rate change on the forward premium has a unit coefficient. However, empirical estimates of this coefficient are significantly less than ...
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(University of Oregon, Dept of Economics, 2006-06)Barro’s (1990) model of endogenous growth implies that economic growth will initially rise with an increase in taxes directed toward “productive” expenditures (e.g., education, highways, and streets), but will subsequently ...
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(University of Oregon, Dept of Economics, 2006-06-22)This paper develops an adaptive learning formulation of an extension to the Ball, Mankiw and Reis (2005) sticky information model that incorporates endogenous inattention. We show that, following an exogenous increase in ...
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(University of Oregon, Dept of Economics, 2006-06-03)We consider optimal monetary policy in New Keynesian models with inertia. First order conditions, which we call the MJB-alternative, are found to improve upon the timeless perspective. The MJB-alternative is shown to be ...
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(University of Oregon, Dept of Economics, 2006-06-01)What does an equal sacrifice tax look like in the case of a rank-dependent social welfare function? One's tax liability evidently becomes a function of one's income and one's position in the distribution in such a case, ...
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(University of Oregon, Dept of Economics, 2006-04)This paper examines the interactions among immigrants, inbound FDI, and imports in the U.S. In testing the patterns of international movements of factors of production, most existing analyses have omitted the role of ...
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(University of Oregon, Dept of Economics, 2006-02)This paper proposes and tests a simple joint explanation for i) increases in marital and nonmarital birth rates in the United States over recent decades, ii) the dramatic rise in the share of nonmarital births, and iii) ...
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(University of Oregon, Dept of Economics, 2005-12-12)The authors test Ricardian equivalence within an endogenous growth model for U.S. states, which have high rates of migration relative to most countries. Results are consistent with both Ricardian equivalence and endogenous ...
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(University of Oregon, Dept of Economics, 2005-06-02)The literature on capital controls has (at least) four very serious apples-to-oranges problems: (i) There is no unified theoretical framework to analyze the macroeconomic consequences of controls; (ii) there is significant ...
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(University of Oregon, Dept of Economics, 2005-09-15)This paper explores from a new perspective the forward premium puzzle, i.e., why a regression of the change in the future spot exchange rate on the forward premium paradoxically yields a coefficient that is frequently ...
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(University of Oregon, Dept of Economics, 2005-09-19)We study the properties of generalized stochastic gradient (GSG) learning in forwardlooking models. We examine how the conditions for stability of standard stochastic gradient (SG) learning both differ from and are related ...
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(University of Oregon, Dept of Economics, 2005-10-18)This paper identifies two channels through which the economy can generate endogenous inflation and output volatility, an empirical regularity, by introducing model uncertainty into a Lucas-type monetary model. The equilibrium ...
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(University of Oregon, Dept of Economics, 2005-05)In the presence of informational frictions and uncertainty, an investment model is developed to capture the asymmetric dynamics of business cycles. When affected by a negative shock, the economy responds differently than ...
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(University of Oregon, Dept of Economics, 2005-09-17)We study how the use of judgement or "add-factors" in macroeconomic forecasting may disturb the set of equilibrium outcomes when agents learn using recursive methods. We isolate conditions under which new phenomena, which ...
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(University of Oregon, Dept of Economics, 2005-09-19)We define a concept of status equilibrium for local public good economies. A status equilibrium specifies one status index for each agent in an economy. These indices determine agents’ cost shares in any possible jurisdiction. ...
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(University of Oregon, Dept of Economics, 2005-09-22)In this paper we propose a method to associate a coalitional interval game with each strategic game. The method is based on the lower and upper values of finite two-person zero-sum games. We axiomatically characterize this ...
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(University of Oregon, Dept of Economics, 2005-10-27)The analysis contrasts results of two recently expounded micro-level data approaches to derive robust intertemporal characterizations of redistributional effects of income tax schedules; the fixed-income procedure of Kasten, ...
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(University of Oregon, Dept of Economics, 2005-01-15)This note explores the insidious empirical trap posed by two common equality restrictions in regression analysis. The trap is that restricted coefficients can lie outside the interval of unrestricted coefficients and even ...
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(University of Oregon, Dept of Economics, 2005-01-01)In hedonic property value models, economists typically assume that changing perceptions of environmental risk should be captured by changes in housing prices. However, for long-lived environmental problems, we find that ...
Now showing items 41-60 of 159