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Commuting, Migration and Local Employment Elasticities
Monte, Ferdinando - 2015
To understand the elasticity of employment to local labor demand shocks, we develop a quantitative general equilibrium … local employment elasticities differ substantially across U.S. counties and commuting zones in ways that are not well … around 3.3 percent and employment reallocations from -20 to 30 percent …
Persistent link: https://www.econbiz.de/10013012379
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Bartik Instruments : What, When, Why, and How
Goldsmith-Pinkham, Paul - 2018
The Bartik instrument is formed by interacting local industry shares and national industry growth rates. We show that the typical use of a Bartik instrument assumes a pooled exposure research design, where the shares measure differential exposure to common shocks, and identification is based on...
Persistent link: https://www.econbiz.de/10012924475
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Do Enterprise Zones Create Jobs? Evidence from California'S Enterprise Zone Program
Neumark, David; Kolko, Jed - 2021
observations on most businesses located in California. The evidence indicates that enterprise zones do not increase employment. We … also find no shift of employment toward the lower-wage workers targeted by enterprise zone incentives. We conclude that the …
Persistent link: https://www.econbiz.de/10013240345
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The Effects of Wal-Mart on Local Labor Markets
Neumark, David; Zhang, Junfu; Ciccarella, Stephen M. - 2021
We estimate the effects of Wal-Mart stores on county-level retail employment and earnings, accounting for endogeneity … employment results indicate that a Wal-Mart store opening reduces county-level retail employment by about 150 workers, implying … retail employment. The payroll results indicate that Wal-Mart store openings lead to declines in county-level retail earnings …
Persistent link: https://www.econbiz.de/10013240653
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Informational Rents, Macroeconomic Rents, and Efficient Bailouts
Philippon, Thomas - 2011
We analyze government interventions to alleviate debt overhang among banks. Interventions generate two types of rents. Informational rents arise from opportunistic participation based on private information while macroeconomic rents arise from free riding. Minimizing informational rents is a...
Persistent link: https://www.econbiz.de/10013130980
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The Market Microstructure of Central Bank Intervention
Dominguez, Kathryn M.E. - 2011
One of the great unknowns in international finance is the process by which new information influences exchange rate behavior. This paper focuses on one important source of information to the foreign exchange markets, the intervention operations of the G-3 central banks. Previous studies using...
Persistent link: https://www.econbiz.de/10013132797
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Do Citizens Want the Truth About Terrorist Threats Regardless of the Consequences?
Smith, V. Kerry - 2010
This paper proposes the use of consumers' preferences in formulating policies for keeping secret information about terrorist activities and threats that might compromise future security. We report the results from two surveys indicating that people have clear preferences for full disclosure of...
Persistent link: https://www.econbiz.de/10013139752
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Separating the Opposing Effects of Bilateral Tax Treaties
Blonigen, Bruce A. - 2011
Bilateral tax treaties (BTT) are intended to promote foreign direct investment and foreign affiliate activity through double taxation relief. However, BTTs also typically contain provisions that facilitate sharing of tax information between countries intended to curtail tax avoidance by...
Persistent link: https://www.econbiz.de/10013119782
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Cycles, Gaps, and the Social Value of Information
Angeletos, George-Marios - 2011
What are the welfare effects of the information contained in macroeconomic statistics, central-bank communications, or news in the media? We address this question in a business-cycle framework that nests the neoclassical core of modern DSGE models. Earlier lessons that were based on "beauty...
Persistent link: https://www.econbiz.de/10013122428
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Bank Finance Versus Bond Finance
De Fiore, Fiorella - 2011
We present a dynamic general equilibrium model with agency costs where: i) firms are heterogeneous in the risk of default; ii) they can choose to raise finance through bank loans or corporate bonds; and iii) banks are more efficient than the market in resolving informational problems. The model...
Persistent link: https://www.econbiz.de/10013126201