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Revisiting Time as a Trade Barrier : Evidence from a Panel Structural Gravity Model
Oberhofer, Harald - 2019
In this paper we revisit the evidence on the effects of time spent on border-crossing procedures for international … significant negative effect of the time required for border procedures that is driven by the time needed for document preparation …
Persistent link: https://www.econbiz.de/10012892158
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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
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Estimation and Inference for Spatial Models with Heterogeneous Coefficients : An Application to U.S. House Prices
Aquaro, Michele - 2019
This paper considers the problem of identification, estimation and inference in the case of spatial panel data models … errors. A quasi maximum likelihood (QML) estimation procedure is developed and the conditions for identification of spatial … for panels with moderate time dimensions, irrespective of the number of cross section units. An empirical application to U …
Persistent link: https://www.econbiz.de/10012890630
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Estimating Labor Market Slack, U.S. 1994-2019
Komlos, John - 2019
U3, the official unemployment rate, is an inadequate gauge of labor-market slack and the extent to which it misinforms varies substantially over the business cycle. The U6 unemployment rate is usually about 4 percentage points above U3. However, during the Great Recession it exceeded U3 by 7...
Persistent link: https://www.econbiz.de/10012859048
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Foreign Competition and Domestic Innovation : Evidence from U.S. Patents
Autor, David H. - 2019
Manufacturing accounts for more than three-quarters of U.S. corporate patents. The competitive shock to this sector emanating from China's economic ascent could in theory either augment or stifle U.S. innovation. Using three decades of U.S. patents matched to corporate owners, we quantify how...
Persistent link: https://www.econbiz.de/10012861408
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The Real U.S. Unemployment Rate is Twice the Official Rate, and the Phillips Curve
Komlos, John - 2019
unemployment rate by weighing part-time workers with 62.5%, the proportion of the time they work relative to full-time workers. We …
Persistent link: https://www.econbiz.de/10012861417
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The Relationship between Prices and Output in the UK and the US
Caporale, Guglielmo Maria; Claudio-Quiroga, Gloria; … - 2021
This paper analyses the relationship between CPI and real GDP in both the US and the UK using fractional integration and long-range dependence techniques. All series appear to be highly trended and to exhibit high degrees of integration and persistence, especially in the case of CPI. Since the...
Persistent link: https://www.econbiz.de/10013235154
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COVID-Induced School Closures in the US and Germany : Long-Term Distributional Effects
Fuchs-Schündeln, Nicola - 2022
Almost all countries worldwide closed schools at the outbreak of the Covid-19 crisis. I document that schooling time … closures on average lead to a reduction of life-time earnings of –1.7% for the affected children. While the overall losses are …
Persistent link: https://www.econbiz.de/10013291960
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The Effects of the COVID-19 Pandemic on Stock Markets, CDS and Economic Activity : Time-Varying Evidence from the US and Europe
Caporale, Guglielmo Maria; Catik, Abdurrahman Nazif; … - 2021
activity in all countries in the early stages of the pandemic (especially in Italy), and a positive one on CDS at the same time …
Persistent link: https://www.econbiz.de/10013211119
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Investment Under Rational Inattention : Evidence from US Sectoral Data
Zorn, Peter - 2020
additional investment demand over time, and more so after aggregate shocks with relatively higher persistence. The interaction of …
Persistent link: https://www.econbiz.de/10012827670