Similar Search Results

How "Original Sin" Was Overcome : The Evolution of External Debt Denominated in Domestic Currencies in the United States and the British Dominions

Bordo, Michael D.; Meissner, Christopher M.; Redish, Angela - 2021

This paper examines the historical origins of "Original Sin" or why countries are unable to issue long term debt domestically or borrow abroad in terms of the domestic currency. We conduct an historical case study for a group of countries that had largely overcome the problem of Original Sin by...

Persistent link: https://www.econbiz.de/10013313637

The Long Shadow of a Fiscal Expansion

Bai, Chong-En - 2016

In 2009 and 2010, China undertook a 4 trillion Yuan fiscal stimulus, roughly equivalent to 12 percent of annual GDP. The "fiscal" stimulus was largely financed by off-balance sheet companies (local financing vehicles) that borrowed and spent on behalf of local governments. The off-balance sheet...

Persistent link: https://www.econbiz.de/10012979772

The Effect of Patronage Politics on City Government in American Cities, 1900-1910

Menes, Rebecca - 2021

In this paper I explore the effect of patronage or machine' politics on government performance in American cities during the Progressive era. I use game theoretic models and an empirical analysis of spending and public goods provision during the first decade of the twentieth century in a cross...

Persistent link: https://www.econbiz.de/10013218408

Fiscal Policies in Open Cities with Firms and Households

Haughwout, Andrew; Inman, Robert P. - 2021

With the renewed interest in cities as economic centers comes a need to understand how local public services and local taxes are likely to affect city economic performance. This paper provides an equilibrium model of an open city economy with mobile firms and resident workers. Given household...

Persistent link: https://www.econbiz.de/10013227495

The Impact of Migration Controls on Urban Fiscal Policies and the Intergenerational Transmission of Human Capital in China

Sieg, Holger; Yoon, Chamna; Zhang, Jipeng - 2022

Using newly available data, we document that internal migrants do not enjoy the same access to local public goods and services as city residents in China. We estimate a spatial overlapping generations model with heterogeneous households to quantify the impact of the Hukou system on urban fiscal...

Persistent link: https://www.econbiz.de/10013289318

Estimating Local Fiscal Multipliers

Suárez Serrato, Juan Carlos - 2016

We propose a new source of cross-sectional variation that may identify causal impacts of government spending on the economy. We use the fact that a large number of federal spending programs depend on local population levels. Every ten years, the Census provides a count of local populations....

Persistent link: https://www.econbiz.de/10012986682

Econometric Evidence on the R&D Depreciation Rate

De Rassenfosse, Gaétan - 2017

This paper presents estimates of the R&D depreciation rate using survey data on Australian inventions. Its novelty is … presents estimates of the effect of patent protection on the depreciation rate. Results suggest that the yearly depreciation … rate varies in a range of 1 to 5 per cent, although the depreciation rate is stronger in the first two years of inventions …

Persistent link: https://www.econbiz.de/10012964898

Estimating Distributed Lags in Short Panels with an Application to the Specification of Depreciation Patterns and Capital Stock Constructs

Pakes, Ariel; Griliches, Zvi - 2021

In this paper, we investigate the problem of estimating distributed lags in short panels. Estimates of the parameter of distributed lag relationships based on single time-series of observations have been usually rather imprecise. The promise of panel data is in the N repetitions of the...

Persistent link: https://www.econbiz.de/10013218833

Estimation of the Depreciation Rate of Physical and R&D Capital in the U.S. Total Manufacturing Sector

Nadiri, Mohammed Ishaq; Prucha, Ingmar R. - 2021

physical and R&D capital, which in turn requires measuring their depreciation rates. In this paper we have specified a model of … factor demand that allows for estimating the depreciation rate of both physical and R&D capital jointly with the other model … parameters. The model was estimated for the U.S. total manufacturing sector. Our estimate for the depreciation rate of physical …

Persistent link: https://www.econbiz.de/10013219190

How Fast Do Personal Computers Depreciate? Concepts and New Estimates

Doms, Mark E.; Dunn, Wendy E.; Oliner, Stephen; Sichel, … - 2021

This paper provides new estimates of depreciation rates for personal computers using an extensive database of prices of …. We decompose that decline into age-related depreciation and a revaluation effect, where the latter effect is driven by … measuring the depreciation of PCs in the National Income and Product Accounts (NIPAs) and were incorporated into the December …

Persistent link: https://www.econbiz.de/10013235890