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Assessing agglomeration economies in a spatial framework with endogenous regressors

Artis, Michael J; Miguélez, Ernest; Moreno, Rosina - C.E.P.R. Discussion Papers - 2009

assess the relative importance of agglomeration and other assets, controlling both for endogeneity and for spatial …

Persistent link: https://www.econbiz.de/10005791212

Keller, Wolfgang; Shiue, Carol Hua - C.E.P.R. Discussion Papers - 2003

Geography shapes economic outcomes in a major way. This Paper uses spatial empirical methods to detect and analyse trade patterns in a historical dataset on Chinese rice prices. Our results suggest that spatial features were important for the expansion of interregional trade. Geography dictates,...

Persistent link: https://www.econbiz.de/10005661903

Fatal Attraction? Access to Early Retirement and Mortality

Kuhn, Andreas; Wuellrich, Jean-Philippe; Zweimüller, Josef - C.E.P.R. Discussion Papers - 2010

We estimate the causal effect of early retirement on mortality for blue-collar workers. To overcome the problem of endogenous selection, we exploit an exogenous change in unemployment insurance rules in Austria that allowed workers in eligible regions to withdraw from the workforce up to 3.5...

Persistent link: https://www.econbiz.de/10008677238

The Economic Consequences of Social Network Structure

Jackson, Matthew O.; Rogers, Brian; Zenou, Yves - C.E.P.R. Discussion Papers - 2015

discuss the challenges of accounting for the endogeneity of networks in assessing the relationship between the patterns of …

Persistent link: https://www.econbiz.de/10011165640

Giffen’s Good: A case of mistaken identification

Brunt, Liam - C.E.P.R. Discussion Papers - 2013

Giffen reported that, in the late nineteenth century, English wheat consumption rose when its price increased – the first recorded “Giffen good”. Using Giffen’s data, I explain how he reached his conclusion. I then show that his analysis was faulty: price elasticity of demand appears...

Persistent link: https://www.econbiz.de/10011084480

Theory and the Market after the Crisis: the Endogeneity of Financial Governance

Underhill, Geoffrey R D - C.E.P.R. Discussion Papers - 2010

The inheritance of contemporary financial economics invites us to consider financial stability as integral to a liberal market setting. The crisis however demonstrated that financial markets may prove highly dysfunctional in the absence of adequate mechanisms of regulation and governance. This...

Persistent link: https://www.econbiz.de/10008784732

Monetary policy responses to oil price fluctuations

Bodenstein, Martin; Guerrieri, Luca; Kilian, Lutz - C.E.P.R. Discussion Papers - 2012

The recent volatility in global commodity prices and in the price of oil, in particular, has created renewed interest in the question of how monetary policy makers should respond to oil price fluctuations. In this paper, we discuss why this question is ill-posed and has no general answer. The...

Persistent link: https://www.econbiz.de/10011083477

Monetary Union, Trade Integration, and Business Cycles in 19th Century Europe: Just Do It

Flandreau, Marc; Maurel, Mathilde - C.E.P.R. Discussion Papers - 2001

This Paper seeks to trace the impact of monetary arrangements on trade integration and business cycle correlation, focusing on Europe in the late 19th century period as a guide for modern debates. For this purpose, we first estimate a gravity model and show that monetary arrangements were...

Persistent link: https://www.econbiz.de/10005791820

Gun Prevalence, Homicide Rates and Causality: A GMM Approach to Endogeneity Bias

Kleck, Gary; Kovandzic, Tomislav; Schaffer, Mark E - C.E.P.R. Discussion Papers - 2005

unlike nearly all previous such studies, we properly account for the endogeneity of gun ownership levels. We discuss the … three main sources of endogeneity bias - reverse causality (higher crime rates lead people to acquire guns for self … endogeneity problems. When the problem is ignored, gun levels are associated with higher rates of gun homicide; when the problem …

Persistent link: https://www.econbiz.de/10005123831

The Long-Run Educational Cost of World War II: An Example of Local Average Treatment Effect Estimation

Ichino, Andrea; Winter-Ebmer, Rudolf - C.E.P.R. Discussion Papers - 1998

An important component of the long-run cost of a war is the loss of human capital, suffered by children of schooling age who receive less education because of the war. This paper shows that in the European countries involved in World War II, children who were ten years old during the conflict...

Persistent link: https://www.econbiz.de/10005124013