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Money and the Dispersion of Relative Prices
Hercowitz, Zvi - 1980
magnitude of the unperceived money growth. The testing of this hypothesis requires two preliminary steps. First, a price …A price dispersion equation is tested with data from the German hyper-inflation. The equation is derived from a version … unperceived money growth. This estimation implies the postulation of an available information set and also a function relating the …
Persistent link: https://www.econbiz.de/10012478714
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The Price Effects of Cash Versus In-Kind Transfers
Cunha, Jesse M. - 2011
This paper compares how cash and in-kind transfers affect local prices. Both types of transfers increase the demand for normal goods, but only in-kind transfers also increase supply. Hence, in-kind transfers should lead to lower prices than cash transfers, which helps consumers at the expense of...
Persistent link: https://www.econbiz.de/10012461203
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The Effect of Labor Market Liberalization on Political Behavior and Free Market Norms
Abramitzky, Ran; Ben-Porath, Netanel; Lahad, Shahar; … - National Bureau of Economic Research - 2022
We study the effects of labor market liberalization on political behavior and attitudes towards free-market capitalism and socialism, exploiting a reform whereby the Israeli socialist communities called kibbutzim shifted from equal sharing to market-based wages. Our identification strategy...
Persistent link: https://www.econbiz.de/10013334404
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Federal Reserve Structure and the Production of Monetary Policy Ideas
Bordo, Michael D.; Prescott, Edward Simpson - National Bureau of Economic Research - 2023
We evaluate the decentralized structure of the Federal Reserve System as a mechanism for generating and processing new ideas on monetary policy over the 1960 - 2000 period. We document the introduction of monetarism, rational expectations, credibility, transparency, and other monetary policy...
Persistent link: https://www.econbiz.de/10014437046
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Learning from Ricardo and Thompson : Machinery and Labor in the Early Industrial Revolution, and in the Age of AI
Acemoglu, Daron; Johnson, Simon - National Bureau of Economic Research - 2024
David Ricardo initially believed machinery would help workers but revised his opinion, likely based on the impact of automation in the textile industry. Despite cotton textiles becoming one of the largest sectors in the British economy, real wages for cotton weavers did not rise for decades. As...
Persistent link: https://www.econbiz.de/10014544695
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From Predictive Algorithms to Automatic Generation of Anomalies
Mullainathan, Sendhil; Rambachan, Ashesh - National Bureau of Economic Research - 2024
Machine learning algorithms can find predictive signals that researchers fail to notice; yet they are notoriously hard-to-interpret. How can we extract theoretical insights from these black boxes? History provides a clue. Facing a similar problem - how to extract theoretical insights from their...
Persistent link: https://www.econbiz.de/10014544701
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When is Sovereign Debt Odious? A Theory of Government Repression, Growth Traps, and Growth Boosts
Acharya, Viral V.; Rajan, Raghuram Govind; Shim, Jack - National Bureau of Economic Research - 2022
We examine the dynamics of a country's growth, consumption, and sovereign debt, assuming that the government is myopic and wants to maximize short-term, self-interested spending. Surprisingly, government myopia can increase a country's access to external borrowing. In turn, access to borrowing...
Persistent link: https://www.econbiz.de/10013334513
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Economics and Measurement : New measures to model decision making
Almås, Ingvild; Attanasio, Orazio P.; Jervis, Pamela - National Bureau of Economic Research - 2023
Most empirical work in economics has considered only a narrow set of measures as meaningful and useful to characterize individual behavior, a restriction justified by the difficulties in collecting a wider set. However, this approach often forces the use of strong assumptions to estimate the...
Persistent link: https://www.econbiz.de/10013537733
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Unveiling Specialization Trends in Economics Research : A Large-Scale Study Using Natural Language Processing and Citation Analysis
Galiani, Sebastián; Gálvez, Ramiro H.; Nachman, Ian - National Bureau of Economic Research - 2023
This article presents a comprehensive analysis of trends in the publication and citation of economics scholarly research, with a focus on specialization within fields of economics research (i.e., applied, applied theory, econometrics methods, and theory). We collected detailed data on 24,273...
Persistent link: https://www.econbiz.de/10014322683
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Minimum Wages, Efficiency and Welfare
Berger, David; Herkenhoff, Kyle; Mongey, Simon - National Bureau of Economic Research - 2022
equilibrium framework that quantitatively replicates results from recent empirical studies, we find higher minimum wages can …
Persistent link: https://www.econbiz.de/10012814437