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The Limiting Distribution of Production in Integrated Economies: Evidence from US States and EU Countries
Bowen, Harry P.; Munandar, Haris; Viaene, Jean-Marie - 2005
We show that in a fully integrated economy, in which there is free mobility of goods and factors, each member’s share of total output will equal its shares of total stocks of productive factors (i.e., physical and human capital). We label this result the equal-share relationship. This...
Persistent link: https://www.econbiz.de/10010325430
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Zipf's Law for Integrated Economies
Bowen, Harry P.; Munandar, Haris; Viaene, Jean-Marie - 2005
We first demonstrate that, within a fully integrated economy (FIE) in which there is free mobility of goods and factors, each FIE member's share of total FIE output will equal its shares of the total FIE stock of each productive factor. This equal-share property implies that, if economic...
Persistent link: https://www.econbiz.de/10010325479
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How do Parents allocate Time ?
Bloemen, Hans G.; Stancanelli, Elena G.F. - 2008
simultaneously specifies three time-use choices -paid work, childcare, and housework- and wage and employment equations for each …
Persistent link: https://www.econbiz.de/10010325841
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Aggregate worker reallocation and occupational mobility in the United States: 1971 - 2000
Moscarini, Giuseppe; Vella, Francis - 2002
We investigate the evolution and the sources of aggregate employment reallocation in the United States in the 1971 … different technology. We find that the total reallocation of employment across occupations has been strongly procyclical and … these patterns, while correcting for possible worker selection into employment, we construct a synthetic panel based on …
Persistent link: https://www.econbiz.de/10010292926
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The lifecycle model of consumption and saving
Browning, Martin; Crossley, Thomas F, - 2001
The life-cycle framework is the standard way that economists think about the intertemporal allocation of time, effort and money. The framework has a venerable history in the economics profession with roots in the in…nite horizon models of Ramsey (1926) and Friedman (1957) and the …nite...
Persistent link: https://www.econbiz.de/10010292931
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The SES health gradient on both sides of the Atlantic
Banks, James; Marmot, Michael; Oldfield, Zoë; Smith, … - 2006
In this paper we investigate the size of health differences that exist among men in England and the United States and how those differences vary by Socio-Economic Status (SES) in both countries. Three SES measures are emphasized - education, household income, and household wealth - and the...
Persistent link: https://www.econbiz.de/10010292933
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Why is consumption more log normal than income? Gibrat's law revisited
Battistin, Erich; Blundell, Richard; Lewbel, Arthur - 2007
Significant departures from log normality are observed in income data, in violation of Gibrat’s law. We identify a new empirical regularity, which is that the distribution of consumption expenditures across households is, within cohorts, closer to log normal than the distribution of income. We...
Persistent link: https://www.econbiz.de/10010292940
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Competition and innovation: An inverted u relationship
Aghion, Philippe; Bloom, Nicholas; Blundell, Richard; … - 2002
This paper investigates the relationship between product market competition (PMC) and innovation. A Schumpeterian growth model is developed in which firms innovate ѳtep-by-stepҬ and where both technological leaders and their followers engage in R&D activities. In this model, competition...
Persistent link: https://www.econbiz.de/10010292944
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Survival of the best fit: Exposure to low-wage countries and the (uneven) growth of US manufacturing plants
Bernard, Andrew Barnes; Jensen, J. Bradford; Schott, … - 2003
that plant survival as well as output and employment growth are negatively associated with the share of industry imports …
Persistent link: https://www.econbiz.de/10010292945
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Consumption inequality and partial insurance
Blundell, Richard W.; Pistaferri, Luigi; Preston, Ian - 2004
This paper describes the transmission of income inequality into consumption inequality and in so doing investigates the degree of insurance to income shocks. It combines panel data on income from the PSID with consumption data from repeated CEX cross-sections and distinguishes between permanent...
Persistent link: https://www.econbiz.de/10010292960