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Evolving patterns of international trade

Proudman, James; Redding, Stephen - London School of Economics (LSE) - 2000

Theoretical models of growth and trade suggest that patterns of international specialization are dynamic and evolve endogenously over time. Initial comparative advantages are either reinforced or gradually unwound with the passage of time. This paper puts forward an empirical framework for...

Persistent link: https://www.econbiz.de/10010884664

Aggregate demand, idle time, and unemployment

Michaillat, Pascal; Saez, Emmanuel - London School of Economics (LSE) - 2015

predictions of the model and empirical measures of product market tightness, labor market tightness, output, and employment to … competitive-price equilibrium. Next, we find that labor market tightness and employment are positively correlated, which suggests …

Persistent link: https://www.econbiz.de/10011276088

Maximum Likelihood in the Frequency Domain: a Time to Build Example.

Christiano, L.J.; Vigfusson, R.J. - London School of Economics (LSE) - 1999

A well known result is that the Gaussian log-likelihood can be expressed as the sum over different frequency components. This implies that the likelihood ratio statistic has a similar linear decomposition. We exploit these observations to devise diagnostic methods that are useful for...

Persistent link: https://www.econbiz.de/10005207535

Ex post versus ex ante measures of the user cost of capital

Oulton, Nicholas - London School of Economics (LSE) - 2005

When doing growth accounting, should we use ex post or ex ante measures of user costs to calculate the contribution of capital? The answer, based on a simple model of temporary equilibrium, is that ex post is better in theory. In practice researchers usually calculate ex post user costs by...

Persistent link: https://www.econbiz.de/10010745052

The objective benefits of subjective well-being

De Neve, Jan-Emmanuel; Diener, Ed; Tay, Louis; Xuereb, Cody - London School of Economics (LSE) - 2013

The aim of this paper is to survey the 'hard' evidence on the effects of subjective well-being. In doing so, we complement the evidence on the determinants of well-being by showing that human well-being also affects outcomes of interest such as health, income, and social behaviour. Generally, we...

Persistent link: https://www.econbiz.de/10010745197

A model of aggregate demand and unemployment

Michaillat, Pascal; Saez, Emmanuel - London School of Economics (LSE) - 2013

; (4) transfers from savers to spenders stimulate aggregate demand, product market tightness, and employment; (5) the …

Persistent link: https://www.econbiz.de/10010745710

Inherited vs self-made wealth: theory & evidence from a rentier society (Paris 1872-1937)

Postel-Vinay, Gilles; Piketty, Thomas; Rosenthal, … - London School of Economics (LSE) - 2011

This paper divides the population into two groups: the "inheritors" or "rentiers" (whose wealth is smaller than the capitalized value of their inherited wealth, i.e. who consumed more than their labor income during their lifetime); and the "savers" or "self-made men" (whose wealth is larger than...

Persistent link: https://www.econbiz.de/10010746502

Preferences for fair prices, cursed inferences, and the nonneutrality of money

Eyster, Erik; Madarász, Kristóf; Michaillat, Pascal - London School of Economics (LSE) - 2015

This paper explains the nonneutrality of money from two assumptions: (1) consumers dislike paying prices that exceed some fair markup on firms’ marginal costs; and (2) consumers under infer marginal costs from available information. After an increase in money supply, consumers underappreciate...

Persistent link: https://www.econbiz.de/10011163499

Gender segregation in employment contracts

Petrongolo, Barbara - London School of Economics (LSE) - 2004

This paper presents evidence on gender segregation in employment contracts in 15 EU countries, using micro data from …

Persistent link: https://www.econbiz.de/10010884580

Employment patterns in OECD countries

Nickell, Stephen; Nunziata, Luca - London School of Economics (LSE) - 2000

This paper studies the dynamics of labour demand and the determinants of employment rates across the OECD. We find: (i …) labour demand adjusts less rapidly when employment protection is more strict and union density is higher; (ii) there is no … evidence that overall job turnover is influenced by employment protection; (iii) union density and coverage are negatively …

Persistent link: https://www.econbiz.de/10010884729