Similar Search Results

Why are the Critics so Convinced that Globalization is Bad for the Poor?

Aisbett, Emma - 2014

Proponents of globalization often conclude that its critics are ignorant or self-motivated. In doing so, they have … missed a valuable opportunity to discover both how best to communicate the benefits of globalization, and how to improve on … the current model of globalization. This paper examines the values, beliefs and facts that lead critics to the view that …

Persistent link: https://www.econbiz.de/10013065371

Searching for the EU Social Dialogue Model

Freeman, Richard B. - 2010

The European Union and the United States operate different variants of market capitalism. The EU model uses social dialogue institutions to help determine economic outcomes, particularly in the labor market, whereas the US relies more on market forces. The theory of competitive markets provides...

Persistent link: https://www.econbiz.de/10012761328

How Structural are Structural Parameters?

Fernández-Villaverde, Jesús - 2012

This paper studies how stable over time are the so-called "structural parameters" of dynamic stochastic general equilibrium (DSGE) models. To answer this question, we estimate a medium-scale DSGE model with real and nominal rigidities using U.S. data. In our model, we allow for parameter...

Persistent link: https://www.econbiz.de/10013104685

Is Bitcoin a Real Currency? An Economic Appraisal

Yermack, David - 2013

A bona fide currency functions as a medium of exchange, a store of value, and a unit of account, but bitcoin largely fails to satisfy these criteria. Bitcoin has achieved only scant consumer transaction volume, with an average well below one daily transaction for the few merchants who accept it....

Persistent link: https://www.econbiz.de/10013071510

Fragility of Purely Real Macroeconomic Models

Kocherlakota, Narayana - 2016

Over the past thirty years, a great deal of business cycle research has been based on purely real models that abstract from the presence of nominal rigidities, and so (at least implicitly) assume that the Phillips curve is vertical. In this paper, I show that such models are fragile, in the...

Persistent link: https://www.econbiz.de/10013001762

Confirmatory Bias in Health Decisions : Evidence from the Mmr-Autism Controversy

Qian, Mengcen - 2020

Since Wakefield et al. (1998), the public was exposed to mixed information surrounding the claim that measles-mumps-rubella vaccine causes autism. A persistent trend to delay the vaccination during 1998–2011 in the US was driven by children of college-educated mothers, suggesting that these...

Persistent link: https://www.econbiz.de/10012840852

Are U.S. Companies Too Short-Term Oriented? Some Thoughts

Kaplan, Steven N. - 2017

U.S. companies are often criticized for being overly short-term oriented. This paper documents that those criticisms have a long history, going back at least thirty-five years. The paper then considers the implications of sustained short-termism for corporate profits, venture capital investments...

Persistent link: https://www.econbiz.de/10012954942

Why You Should Never Use the Hodrick-Prescott Filter

Hamilton, James D. - 2017

Here's why. (1) The HP filter produces series with spurious dynamic relations that have no basis in the underlying data-generating process. (2) Filtered values at the end of the sample are very different from those in the middle, and are also characterized by spurious dynamics. (3) A statistical...

Persistent link: https://www.econbiz.de/10012955932

Better Late than Nothing : Some Comments on Deaton (2009) and Heckman and Urzua (2009)

Imbens, Guido W. - 2010

Two recent papers, Deaton (2009), and Heckman and Urzua (2009), argue against what they see as an excessive and inappropriate use of experimental and quasi-experimental methods in empirical work in economics in the last decade. They specifically question the increased use of instrumental...

Persistent link: https://www.econbiz.de/10012757532

The Perils of the Learning Model for Modeling Endogenous Technological Change

Nordhaus, William D. - 2010

Learning or experience curves are widely used to estimate cost functions in manufacturing modeling. They have recently been introduced in policy models of energy and global warming economics to make the process of technological change endogenous. It is not widely appreciated that this is a...

Persistent link: https://www.econbiz.de/10012758017

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