Showing 1 - 10 of 6,313
This paper addresses the complex relationship between geography and macroeconomic growth. We investigate the ways in … which geography may matter directly for growth, controlling for economic policies and institutions, as well as the effects … of geography on policy choices and institutions. We find that location and climate have large effects on income levels …
Persistent link: https://www.econbiz.de/10013238940
This paper examines the importance of buyer-supplier relationships, geography and the structure of the production … firm's marginal production costs. We test the theory by exploiting the opening of a high-speed (Shinkansen) train line in …
Persistent link: https://www.econbiz.de/10013024518
Does an observation constitute stronger evidence for a theory if it was made after rather than before the theory was … formulated, when it may have influenced the theory's construction? Philosophers have discussed this question (of quot … and then constructs a theory) versus structural models with formal econometric tests (where a model is constructed before …
Persistent link: https://www.econbiz.de/10012776741
randomized controlled trials (RCTs) to accumulate credible knowledge of what works, without over-reliance on questionable theory …
Persistent link: https://www.econbiz.de/10012757925
Macroeconomists have largely converged on method, model design, reduced-form shocks, and principles of policy advice. Our main disagreements today are about implementing the methodology. Some think New Keynesian models are ready to be used for quarter-to-quarter quantitative policy advice; we do...
Persistent link: https://www.econbiz.de/10012758420
This paper reviews the progress that the science of monetary policy has made over recent decades. This progress has significantly expanded the degree to which the practice of monetary policy reflects the application of a core set of quot;scientific principlesquot;. However, there remains, and...
Persistent link: https://www.econbiz.de/10012759738
The purpose of this article is to demonstrate how a rich array of methods can be applied to increase the relevance of field experiments in public economics. Two cross-cutting themes are important in multiple phases of the research. First, greater statistical sophistication can draw more value...
Persistent link: https://www.econbiz.de/10012760378
I explore the equilibrium value implications of economic models that incorporate reactions to a stochastic environment. I propose a dynamic value decomposition (DVD) designed to distinguish components of an underlying economic model that influence values over long horizons from components that...
Persistent link: https://www.econbiz.de/10012770669
Social and economic networks are ubiquitous, serving as contexts for job search, technology diffusion, the accumulation of human capital and even the formulation of norms and values. The systematic empirical study of network formation - the process by which agents form, maintain and dissolve...
Persistent link: https://www.econbiz.de/10013048060
explaining short-run fluctuations in GNP. Theory and the empirical evidence suggest that the existence of intellectual property …
Persistent link: https://www.econbiz.de/10013232435