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IV Quantile Regression for Group-level Treatments, with an Application to the Distributional Effects of Trade
Chetverikov, Denis; Larsen, Bradley; Palmer, Christopher - National Bureau of Economic Research (NBER) - 2015
We present a methodology for estimating the distributional effects of an endogenous treatment that varies at the group level when there are group-level unobservables, a quantile extension of Hausman and Taylor (1981). Because of the presence of group-level unobservables, standard quantile...
Persistent link: https://www.econbiz.de/10011207910
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Systemic Risk and the Refinancing Ratchet Effect
Lo, Andrew W.; merton, robert c.; Khandani, Amir E. - National Bureau of Economic Research (NBER) - 2009
The confluence of three trends in the U.S. residential housing market---rising home prices, declining interest rates, and near-frictionless refinancing opportunities---led to vastly increased systemic risk in the financial system. Individually, each of these trends is benign, but when they occur...
Persistent link: https://www.econbiz.de/10005089229
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China's Exports and Employment
Feenstra, Robert C.; Hong, Chang - National Bureau of Economic Research (NBER) - 2007
Dooley et al (2003, 2004a,b,c) argue that China seeks to raise urban employment by 10-12 million persons per year, with about 30% of that coming from export growth. In fact, total employment increased by 7.5-8 million per year over 1997-2005. We estimate that export growth over 1997-2002...
Persistent link: https://www.econbiz.de/10005775179
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Asymmetric Information and Remittances: Evidence from Matched Administrative Data
Nyarko, Yaw; Joseph, Thomas; Wang, Shing-Yi - National Bureau of Economic Research (NBER) - 2015
Using new data matching remittances and monthly payroll disbursals, we demonstrate how fluctuations in migrants' earnings in the United Arab Emirates affect their remittances. We consider three types of income fluctuations that are observable by families at home: seasonalities, weather shocks...
Persistent link: https://www.econbiz.de/10011189112
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The Slowdown in the Economic Assimilation of Immigrants: Aging and Cohort Effects Revisited Again
Borjas, George - National Bureau of Economic Research (NBER) - 2013
This paper examines the evolution of immigrant earnings in the United States between 1970 and 2010. There are cohort effects not only in wage levels, with more recent cohorts having lower entry wages through 1990, but also in the rate of wage growth, with more recent cohorts experiencing less...
Persistent link: https://www.econbiz.de/10010821759
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Inefficient Hiring in Entry-Level Labor Markets
Pallais, Amanda - National Bureau of Economic Research (NBER) - 2013
Hiring inexperienced workers generates information about their abilities. If this information is public, workers obtain its benefits. If workers cannot compensate firms for hiring them, firms will hire too few inexperienced workers. I determine the effects of hiring workers and revealing more...
Persistent link: https://www.econbiz.de/10010822028
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Using Social Media to Measure Labor Market Flows
Shapiro, Matthew D.; Antenucci, Dolan; Cafarella, Michael; … - National Bureau of Economic Research (NBER) - 2014
signals. The University of Michigan Social Media Job Loss Index tracks initial claims for unemployment insurance at medium and …
Persistent link: https://www.econbiz.de/10010951238
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Asset Pricing with Countercyclical Household Consumption Risk
Constantinides, George M.; Ghosh, Anisha - National Bureau of Economic Research (NBER) - 2014
We present evidence that shocks to household consumption growth are negatively skewed, persistent, countercyclical, and play a major role in driving asset prices. We construct a parsimonious model where heterogeneous households have recursive preferences and a single state variable drives the...
Persistent link: https://www.econbiz.de/10010951334
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The Phillips Curve is Alive and Well: Inflation and the NAIRU During the Slow Recovery
Gordon, Robert J. - National Bureau of Economic Research (NBER) - 2013
despite substantial volatility of the unemployment rate, and in particular the common tendency of PC inflation equations to … the natural rate of unemployment (or NAIRU), and thus the Fed is steering the economy in a fog with no navigational device … to determine the size of the unemployment gap, one of the two primary goals of its "dual mandate." The results of this …
Persistent link: https://www.econbiz.de/10010951448
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Alternative Measures of Offshorability: A Survey Approach
Blinder, Alan S.; Krueger, Alan B. - National Bureau of Economic Research (NBER) - 2009
This paper reports on a household survey specially designed to measure what we call the "offshorability" of jobs, defined as the ability to perform the work duties from abroad. We develop multiple measures of offshorability, using both self-reporting and professional coders. All the measures...
Persistent link: https://www.econbiz.de/10005034347