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How Exporters Grow
Fitzgerald, Doireann - 2020
advertising to acquire new customers and thereby shift demand and increase sales. In the second, they use temporarily low markups …
Persistent link: https://www.econbiz.de/10012841929
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Shocks, Frictions, and Inequality in US Business Cycles
Bayer, Christian - 2020
How much does inequality matter for the business cycle and vice versa? Using a Bayesian likelihood approach, we estimate a heterogeneous-agent New-Keynesian (HANK) model with incomplete markets and portfolio choice between liquid and illiquid assets. The model enlarges the set of shocks and...
Persistent link: https://www.econbiz.de/10012841741
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Will Destination-Based Taxes Be Fully Exploited When Available? An Application to the U.S. Commodity Tax System
Agrawal, David R. - 2019
-arbitrage opportunities increase. The United States is one example of many such systems. While sales taxes are due at the point of sale, use … levy destination-based use taxes at a lower rate than origin-based sales taxes. In response to changes in state …-level policies that increase tax avoidance opportunities, the results of the empirical model broadly confirm our theory …
Persistent link: https://www.econbiz.de/10012892221
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Non-Linearities and Persistence in US Long-Run Interest Rates
Caporale, Guglielmo Maria; Gil-Alana, Luis A.; … - 2021
This note examines the stochastic behaviour of US monthly 10-year government bond yields. Specifically, it estimates a fractional integration model suitable to capture both persistence and non-linearities, these being two important properties of interest rates. Two series are analysed, one from...
Persistent link: https://www.econbiz.de/10013314848
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The Short and the Long of it : Stock-Flow Matching in the US Housing Market
Smith, Eric; Xie, Zoe; Fang, Lei - 2022
housing slump sooner, faster, and more prominently than slower sales. The simulated stock-flow matching model can not only … mimic sales, prices, listings, and time-on-market but also capture the distinctions in quick and slower trades, indicating …
Persistent link: https://www.econbiz.de/10014243085
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Redistribution with Performance Pay
Doligalski, Pawel - 2020
Half of the jobs in the U.S. feature pay-for-performance. We study nonlinear income taxation in a model where such contracts arise in private labor markets that are constrained by moral hazard frictions. We derive novel formulas for the incidence of arbitrarily nonlinear reforms of a given tax...
Persistent link: https://www.econbiz.de/10012834365
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Non-Pharmaceutical Interventions and Mortality in U.S. Cities During the Great Influenza Pandemic, 1918-1919
Barro, Robert J. - 2020
Non-pharmaceutical interventions (NPIs) were measured by Markel, et al. (2007) for U.S. cities during the second wave of the Great Influenza Pandemic, September 1918-February 1919. Â The NPIs were in three categories: school closings, prohibitions on public gatherings, and quarantine/isolation....
Persistent link: https://www.econbiz.de/10012834997
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Exposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations
Hanspal, Tobin - 2020
We survey a representative sample of US households to study how exposure to the COVID-19 stock market crash affects expectations and planned behavior. Wealth shocks are associated with upward adjustments of expectations about retirement age, desired working hours, and household debt, but have...
Persistent link: https://www.econbiz.de/10012835653
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Politics in the Facebook Era - Evidence from the 2016 US Presidential Elections
Liberini, Federica - 2020
Through social media, politicians can personalize their campaigns and target specific groups of voters with an unprecedented precision. We assess the effects of such political micro-targeting by exploiting daily advertising prices on Facebook during the 2016 US presidential campaign. We measure...
Persistent link: https://www.econbiz.de/10012835993
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Heterogeneous Expectations, Indeterminacy, and Postwar US Business Cycles
Ilabaca, Francisco - 2020
This paper estimates a New Keynesian model extended to include heterogeneous expectations, to revisit the evidence that postwar US macroeconomic data can be explained as the outcome of passive monetary policy, indeterminacy, and sunspot-driven fluctuations in the pre-1979 sample, with a switch...
Persistent link: https://www.econbiz.de/10012836715