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The Economic Assimilation of Irish Famine Migrants to the United States

Collins, William J. - 2018

The repeated failure of Ireland's potato crop in the late 1840s led to a major famine and a surge in migration to the … descriptive analysis of mobility for the famine-era Irish sons indicates that more Catholic surnames and birth in Ireland were … decline in the observable human capital of famine-era Irish migrants compared to pre-famine Irish migrants and to other groups …

Persistent link: https://www.econbiz.de/10012480938

Innovation Networks in the Industrial Revolution

Rosenberger, Lukas - 2024

How did Britain sustain faster rates of economic growth than comparable European countries, such as France, during the Industrial Revolution? We argue that Britain possessed an important but underappreciated innovation advantage: British inventors worked in technologies that were more central...

Persistent link: https://www.econbiz.de/10015056202

3D-PCA : Factor Models with Restrictions

Lettau, Martin - National Bureau of Economic Research - 2024

This paper proposes latent factor models for multidimensional panels called 3D-PCA. Factor weights are constructed from a small set of dimension-specific building blocks, which give rise to proportionality restrictions of factor weights. While the set of feasible factors is restricted, factors...

Persistent link: https://www.econbiz.de/10014512115

Sparse Modeling Under Grouped Heterogeneity with an Application to Asset Pricing

Cong, Lin William; Feng, Guanhao; He, Jingyu; Li, Junye - National Bureau of Economic Research - 2023

Sparse models, though long preferred and pursued by social scientists, can be ineffective or unstable relative to large models, for example, in economic predictions (Giannone et al., 2021). To achieve sparsity for economic interpretation while exploiting big data for superior empirical...

Persistent link: https://www.econbiz.de/10014322811

High-Dimensional Factor Models and the Factor Zoo

Lettau, Martin - National Bureau of Economic Research - 2023

This paper proposes a new approach to the "factor zoo" conundrum. Instead of applying dimension-reduction methods to a large set of portfolios obtained from sorts on characteristics, I construct factors that summarize the information in characteristics across assets and then sort assets into...

Persistent link: https://www.econbiz.de/10014372475

Human Capital Growth - with Region and Gender in Perspective

Liu, Gang; Fraumeni, Barbara M.; Managi, Shunsuke - National Bureau of Economic Research - 2022

Chapter 6 from the forthcoming Inclusive Wealth Report 2022 looks at human capital in greater detail, based on the latest human capital estimates from the Inclusive Wealth Report (IWR) project. In the chapter, which is repeated here, the growth of human capital and several of its constituent...

Persistent link: https://www.econbiz.de/10013210063

How Should We Measure Infrastructure? The Case of Highways and Streets

Kornfeld, Robert; Fraumeni, Barbara M. - National Bureau of Economic Research - 2022

The recent debates on infrastructure spending have led to renewed interest in the measurement of infrastructure and its effects on growth and well-being. This paper updates estimates of one important type of infrastructure capital--highways and streets. We compare BEA's capital measures with...

Persistent link: https://www.econbiz.de/10013210073

The Macroeconomic Impact of Climate Change : Global vs. Local Temperature

Bilal, Adrien; Känzig, Diego R. - National Bureau of Economic Research - 2024

temperature leads to a 12% decline in world GDP. Global temperature shocks correlate much more strongly with extreme climatic …

Persistent link: https://www.econbiz.de/10014544728

Sufficient Statistics for Measuring Forward-Looking Welfare

Baqaee, David; Burstein, Ariel T.; Koike-Mori, Yasutaka - National Bureau of Economic Research - 2024

We provide a method to measure welfare, in money-metric terms, taking into account expectations about the future. Our two key assumptions are that (1) the expenditure function is separable between the present and the future, and (2) there are some households that do not face idiosyncratic...

Persistent link: https://www.econbiz.de/10014576596

Revisiting Productivity Dynamics in Europe : A New Measure of Utilization-Adjusted TFP Growth

Comin, Diego; Quintana, Javier; Schmitz, Tom; Trigari, … - National Bureau of Economic Research - 2023

We compute new estimates for Total Factor Productivity (TFP) growth in five European countries and in the United States. Departing from standard methods, we account for positive profits and use firm surveys to proxy for unobserved changes in factor utilization. These novelties have a major...

Persistent link: https://www.econbiz.de/10014247926

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