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Microeconomic Uncertainty, International Trade, and Aggregate Fluctuations
Alessandria, George - 2014
The extent and direction of causation between micro volatility and business cycles are debated. We examine, empirically and theoretically, the source and effects of fluctuations in the dispersion of producer- level sales and production over the business cycle. On the theoretical side, we study...
Persistent link: https://www.econbiz.de/10013044984
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Manufactured Inequality
Rosen, Sherwin - 2021
Many discrete life choices--where to live, what kind of job to hold, and consumption lifestyle--are stratified by income. Stratification and sorting often manifest state-dependent preferences in which the marginal utility of income (consumption) depends on the outcome of prior choices. For...
Persistent link: https://www.econbiz.de/10013222217
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Unemployment Risk and Compensating Differential in Late-Nineteenth Century New Jersey Manufacturing
Averett, Susan L.; Bodenhorn, Howard; Staisiunas, Justas - 2021
In this paper we test for the existence of compensating differentials for unemployment risk in an era before …
Persistent link: https://www.econbiz.de/10013234925
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Uncertainty and Investment Dynamics
Bloom, Nicholas - 2014
This paper shows that, with (partial) irreversibility, higher uncertainty reduces the impact effect of demand shocks on investment. Uncertainty increases real option values making firms more cautious when investing or disinvesting. This is confirmed both numerically for a model with a rich mix...
Persistent link: https://www.econbiz.de/10012752137
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Trade Policy, Income Risk, and Welfare
Krebs, Tom; Krishna, Pravin; Maloney, William F. - 2005
This paper studies empirically the relationship between trade policy and individual income risk faced by workers, and … three steps. First, longitudinal data on workers are used to estimate time-varying individual income risk parameters in … various manufacturing sectors. Second, the estimated income risk parameters and data on trade barriers are used to analyze the …
Persistent link: https://www.econbiz.de/10014065905
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Learning Versus Stealing : How Important are Market-Share Reallocations to India's Productivity Growth?
Harrison, Ann E. - 2011
The new trade theory emphasizes the role of market-share reallocations across firms ("stealing") in driving productivity growth, while the older literature focused on average productivity improvements ("learning"). We use comprehensive, firm-level data from India's organized manufacturing sector...
Persistent link: https://www.econbiz.de/10013130973
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The Impact of Plant-Level Resource Reallocations and Technical Progress on U.S. Macroeconomic Growth
Petrin, Amil - 2011
We build up from the plant level an "aggregate(d)" Solow residual by estimating every U.S. manufacturing plant's contribution to the change in aggregate final demand between 1976 and 1996. Our framework uses the Petrin and Levinsohn (2010) definition of aggregate productivity growth, which...
Persistent link: https://www.econbiz.de/10013131308
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Trade and the Global Recession
Eaton, Jonathan - 2011
We develop a dynamic multi-country general equilibrium model to investigate forces acting on the global economy during the Great Recession and ensuing recovery. Our multi-sector framework accounts completely for countries' trade, investment, production, and GDPs in terms of different sets of...
Persistent link: https://www.econbiz.de/10013131675
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Was There a National Labor Market at the End of the Nineteenth Century? Intercity and Interregional Variation in Male Earnings in Manufacturing
Rosenbloom, Joshua L. - 2011
Recent studies of late nineteenth century labor market integration have found that despite high rates of geographic mobility relatively large inter- and intra-regional differentials in real wages persisted with little tendency toward convergence. These results point to the absence of a unified...
Persistent link: https://www.econbiz.de/10013132982
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Innovation and Foreign Ownership
Guadalupe, Maria - 2010
This paper uses a rich panel dataset of Spanish manufacturing firms (1990-2006) and a propensity score reweighting estimator to show that multinational firms acquire the most productive domestic firms, which, on acquisition, conduct more product and process innovation (simultaneously adopting...
Persistent link: https://www.econbiz.de/10013135408