Narrow search
Showing 1 - 10 of 796
Cover Image
Semiparametric Estimates of Monetary Policy Effects : String Theory Revisited
Angrist, Joshua D. - 2013
We develop a flexible semiparametric time series estimator that is then used to assess the causal effect of monetary policy interventions on macroeconomic aggregates. Our estimator captures the average causal response to discrete policy interventions in a macro-dynamic setting, without the need...
Persistent link: https://www.econbiz.de/10013076979
Cover Image
Mismatch, Sorting and Wage Dynamics
Lise, Jeremy - 2013
We develop an empirical search-matching model which is suitable for analyzing the wage, employment and welfare impact … wage determination and employment which extends the current literature on equilibrium wage determination with matching and … of assortative matching between workers and jobs due to complementarities between worker and job characteristics. We use …
Persistent link: https://www.econbiz.de/10013088394
Cover Image
Labor-Market Matching with Precautionary Savings and Aggregate Fluctuations
Krusell, Per - 2009
matching function. Wages are determined through Nash bargaining. We also consider aggregate productivity shocks, and a complete …
Persistent link: https://www.econbiz.de/10013156859
Cover Image
The Welfare Effects of Coordinated Assignment : Evidence from the NYC HS Match
Abdulkadiroglu, Atila - 2015
Coordinated single-offer school assignment systems are a popular education reform. We show that uncoordinated offers in NYC's school assignment mechanism generated mismatches. One-third of applicants were unassigned after the main round and later administratively placed at less desirable...
Persistent link: https://www.econbiz.de/10013025251
Cover Image
Preference Signaling in Matching Markets
Coles, Peter A. - 2010
Many labor markets share three stylized facts: employers cannot give full attention to all candidates, candidates are ready to provide information about their preferences for particular employers, and employers value and are prepared to act on this information. In this paper we study how a...
Persistent link: https://www.econbiz.de/10013141266
Cover Image
Granger-Causality and Stabilization Policy
Buiter, Willem H. - 2021
This paper aims to provide a stochastic, rational expectations extension of Tobin's "Money and Income; Post Hoc Ergo Proper Hoc?". It is well-known that money may Granger-cause real variables even though the joint density function of the real variables is invariant under changes in the...
Persistent link: https://www.econbiz.de/10013219733
Cover Image
Welfare Analysis Meets Causal Inference
Finkelstein, Amy; Hendren, Nathaniel - 2023
We describe a framework for empirical welfare analysis that uses the causal estimates of a policy’s impact on net government spending. This framework provides guidance for which causal effects are (and are not) needed for empirical welfare analysis of public policies.The key ingredient is the...
Persistent link: https://www.econbiz.de/10014346912
Cover Image
Panel Data Hedonics : Rosen's First Stage as a "Sufficient Statistic"
Banzhaf, H. Spencer - 2015
Traditional cross-sectional estimates of hedonic price functions can recover marginal willingness to pay for characteristics, but face endogeneity problems for estimating non-marginal welfare measures. I show that when panel data on household demands are available, one can construct a...
Persistent link: https://www.econbiz.de/10013017083
Cover Image
The Phillips Curve is Back? Using Panel Data to Analyze the Relationship between Unemployment and Inflation in an Open Economy
DiNardo, John E.; Moore, Mark - 2022
Expanding on an approach suggested by Ashenfelter (1984), we extend the Phillips curve to an open economy and exploit panel data to estimate the textbook 'expectations augmented' Phillips curve with a market-based and observable measure of inflation expectations. We develop this measure using...
Persistent link: https://www.econbiz.de/10013292577
Cover Image
Exchange Rate Policies at the Zero Lower Bound
Amador, Manuel - 2017
We study the problem of a monetary authority pursuing an exchange rate policy that is inconsistent with interest rate parity because of a binding zero lower bound constraint. The resulting violation in interest rate parity generates an inflow of capital that the monetary authority needs to...
Persistent link: https://www.econbiz.de/10012960173