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Economics Working Papers: Recent submissions
Now showing items 61-80 of 159
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(University of Oregon, Dept of Economics, 2005-05-19)We show that if policy-makers compute the optimal unconstrained interest-rate rule within a Taylor-type class, they may be led to rules that generate indeterminacy and/or instability under learning. This problem is compounded ...
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(University of Oregon, Dept of Economics, 2005-05-01)We develop a dynamic model of the exploitation of an environmental resource with endogenous property rights. We are able to explain both the evolution of property rights and environmental quality. In some circumstances the ...
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(University of Oregon, Dept of Economics, 2005-04-06)This is a revised and shortened version of Working Paper 2002-11. Commitment in monetary policy leads to equilibria that are superior to those from optimal discretionary policies. A number of interest rate reaction functions ...
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(University of Oregon, Dept of Economics, 2005-07-01)The decomposition of the redistributive effect of an income tax into vertical, horizontal and reranking contributions according to the model of Aronson, Johnson and Lambert (1994), henceforth AJL, is revisited. When close ...
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(University of Oregon, Dept of Economics, 2005-04-26)A well-known criterion to make heterogeneous welfare comparisons is Atkinson and Bourguignon’s (1987) sequential generalized Lorenz dominance (SGLD) criterion. Recently, Fleurbaey, Hagneré and Trannoy (2003) convincingly ...
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(University of Oregon, Dept of Economics, 2004-10-20)In choosing an exchange rate regime for a small open economy, the common wisdom (Friedman (1953), Meade (1950)) calls for a °oating regime to outperform a peg because of the ability of the former to cope with relative price ...
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(University of Oregon, Dept of Economics, 2004-06-11)We develop a model of fertility and marriage that implies a magnified effect of marriage rates on the share of births to unmarried women. For U.S. data, plots and regression estimates support the prediction that the share ...
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(University of Oregon, Dept of Economics, 2004-11-01)Much of the sharp rise in the share of nonmarital births in the United States has been attributed to changes in the fertility choices of unmarried and married women - in response, it is often argued, to various public ...
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(University of Oregon, Dept of Economics, 2004-12-02)We revisit the well-known decomposition of the Gini coefficient into between-groups, within-groups and overlap terms in the context of two groups in which the incomes in one group may be scaled and that group’s population ...
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(University of Oregon, Dept of Economics, 2004-12-07)This paper addresses the output-price volatility puzzle by studying the interaction of optimal monetary policy and agents' beliefs. We assume that agents choose their information acquisition rate by minimizing a loss ...
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(University of Oregon, Dept of Economics, 2005-01-01)Poverty evaluations differ from welfare evaluations in one significant aspect, the existence of a threshold or reference point, the poverty line. It is therefore possible to build up normative evaluation models in which ...
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(University of Oregon, Dept of Economics, 2004-10-01)The Forward Premium Puzzle is one of the most prominent empirical anomalies in international finance. The forward premium predicts exchange rate depreciation but typically with the opposite sign and smaller magnitude than ...
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(University of Oregon, Dept of Economics, 2005-03-01)Several empirical studies have found a negative relationship between corruption and the decentralization of the powers to tax and spend. In this paper we explain this phenomenon using a model of Yardstick Competition. ...
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(University of Oregon, Dept of Economics, 2005-01-11)This is the text of an interview with Thomas J. Sargent. The interview will be published in Macroeconomic Dynamics.
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(University of Oregon, Dept of Economics, 2005-02-01)We compare the performance of alternative recursive forecasting models. A simple constant gain algorithm, used widely in the learning literature, both forecasts well out of sample and also provides the best fit to the ...
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(University of Oregon, Dept. of Economics, 2003-12)Prior work suggests coordination failure between labour and education markets leads some workers to have educational qualifications in excess of those specified for the job (overeducation) and others to have less ...
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(University of Oregon, Dept. of Economics, 2003-12)Certain sociodemographic groups often seem to be relatively more concentrated near environmental hazards than in the surrounding community. It is well-known that snapshot cross-sectional statistical analyses cannot reveal ...
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(University of Oregon, Dept. of Economics, 2003-12)Certain sociodemographic groups often seem to be relatively more concentrated near environmental hazards than in the surrounding community. It is well-known that snapshot cross-sectional statistical analyses cannot reveal ...
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(University of Oregon, Dept of Economics, 2003-11)I develop a simple model in which production of skill-intensive headquarter services are fragmented across borders in order to take advantage of complementarities between types of skilled labor. This setting indicates that ...
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(University of Oregon, Dept. of Economics, 2003-12)We discuss how child labor problems may persist in developing countries when adult mortality risks are endogenous. Children provide current consumption through child labor and future consumption via an informal social ...
Now showing items 61-80 of 159