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Monetary Policy Through Production Networks : Evidence from the Stock Market
Ozdagli, Ali K. - 2017
Monetary policy shocks have a large impact on aggregate stock market returns in narrow event windows around press releases by the Federal Open Market Committee. We use spatial autoregressions to decompose the overall effect of monetary policy shocks into a direct (demand) effect and an indirect...
Persistent link: https://www.econbiz.de/10012953959
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Intersectoral Markup Divergence
Behrens, Kristian - 2018
We develop a general equilibrium model of monopolistic competition with a traded and a non-traded sector. Using a broad class of homothetic preferences—that generate variable markups, display a simple behavior of their elasticity of substitution, and nest the ces as a limiting case—we show...
Persistent link: https://www.econbiz.de/10012918067
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Structural Reforms, Growth and Inequality : An Overview of Theory, Measurement and Evidence
Campos, Nauro F. - 2018
takes stock of theoretical developments, measurement efforts and of the econometric evidence. We start with a simple …
Persistent link: https://www.econbiz.de/10012927189
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A Rise By Any Other Name? Sensitivity of Growth Regressions to Data Source
Hanousek, Jan - 2008
Measured rates of growth in real per capita income differ drastically depending on the data source. This phenomenon occurs largely because data sets differ in whether and how they adjust for changes in relative prices across countries. Replication of several recent studies of growth determinants...
Persistent link: https://www.econbiz.de/10012773476
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Measurement Error in Education and Growth Regressions
Portela, Miguel - 2008
The perpetual inventory method used for the construction of education data per country leads to systematic measurement … error. This paper analyses the effect of this measurement error on GDP regressions. There is a systematic difference in the … the measurement error. The standard attenuation bias suggests that using these corrected data would lead to a higher …
Persistent link: https://www.econbiz.de/10012774497
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Eigenvalue Productivity : Measurement of Individual Contributions in Teams
Müller, Julia - 2017
While the output of a team is evident, the productivity of each team member is typically not readily identifiable. In this paper we consider the problem of measuring the productivity of team members. We propose a new concept of coworker productivity, which we refer to as eigenvalue productivity...
Persistent link: https://www.econbiz.de/10012944882
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A Spatial Approach to Energy Economics : Theory, Measurement and Empirics
Moreno-Cruz, Juan - 2014
incentives for economic activity to concentrate. Our theory provides a novel scaling law; a magnification effect; and reveals a …
Persistent link: https://www.econbiz.de/10013051291
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An Environmental-Economic Measure of Sustainable Development
Cairns, Robert D.; Martinet, Vincent - 2021
A central issue in the study of sustainable development is the interplay of growth and sacrifice in a dynamic economy. This paper investigates the relationship among current consumption, sacrifice, and sustainability improvement in a general context and in two canonical, stylized economies. We...
Persistent link: https://www.econbiz.de/10013315739
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What Does Trade Openness Measure?
Fujii, Eiji - 2017
An empirical measure of trade openness is defined as the ratio of total trade to GDP, and represents a convenient variable routinely used for cross-country studies on a variety of issues. However, the effects that the crude measure captures remain ambiguous, making it difficult to interpret the...
Persistent link: https://www.econbiz.de/10012946850
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Which Sectors of a Modern Economy are Most Central?
Bloechl, Florian - 2010
We analyze input-output matrices for a wide set of countries as weighted directed networks. These graphs contain only 47 nodes, but they are almost fully connected and many have nodes with strong self-loops. We apply two measures: random walk centrality and one based on count-betweenness. Our...
Persistent link: https://www.econbiz.de/10013137865