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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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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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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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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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Quantifying the Lasting Harm to the U.S. Economy from the Financial Crisis
Hall, Robert E. - National Bureau of Economic Research (NBER) - 2014
result of lingering slackness in the labor market in the form of abnormal unemployment and substandard weekly hours of work …
Persistent link: https://www.econbiz.de/10011271437
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Worker Displacement and the Added Worker Effect
Melvin Stephens Jr. - National Bureau of Economic Research (NBER) - 2001
worker' effect. Unlike past added worker effect studies which focus on the effect of the husband's current unemployment …
Persistent link: https://www.econbiz.de/10005248925
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Evaluating the Connection Between Social Protection and Economic Flexib ility
Blank, Rebecca M.; Freeman, Richard B. - National Bureau of Economic Research (NBER) - 1993
Over the last 10 years, a variety of analysts have blamed high unemployment and stagnant economic growth in Europe on …
Persistent link: https://www.econbiz.de/10005084605
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Unemployment in Latin America and the Caribbean
Ball, Laurence; Hofstetter, Marc; Roux, Nicolás De - National Bureau of Economic Research (NBER) - 2011
This study constructs a new data set on unemployment rates in Latin America and the Caribbean and then explores the … determinants of unemployment. We compare different countries, finding that unemployment is influenced by the size of the rural … unemployment over time, finding that they are caused by contractions in aggregate demand. These demand contractions result from …
Persistent link: https://www.econbiz.de/10009226779