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News Shocks
Barsky, Robert - 2009
We implement a new approach for the identification of news shocks about future technology. In a VAR featuring a measure of aggregate technology and several forward-looking variables, we identify the news shock as the shock orthogonal to technology innovations that best explains future variation...
Persistent link: https://www.econbiz.de/10013156463
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Accounting for Factorless Income
Karabarbounis, Loukas - 2018
Comparing U.S. GDP to the sum of measured payments to labor and imputed rental payments to capital results in a large and volatile residual or “factorless income.” We analyze three common strategies of allocating and interpreting factorless income, specifically that it arises from economic...
Persistent link: https://www.econbiz.de/10012925323
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The Other Side of Value : Good Growth and the Gross Profitability Premium
Novy-Marx, Robert - 2010
Profitability, as measured by gross profits-to-assets, has roughly the same power as book-to-market predicting the cross-section of average returns. Profitable firms generate significantly higher average returns than unprofitable firms, despite having, on average, lower book-to-markets and...
Persistent link: https://www.econbiz.de/10013144171
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A Forward Looking Ricardian Approach : Do Land Markets Capitalize Climate Change Forecasts?
Severen, Christopher - 2016
The hedonic pricing method is one of the fundamental approaches used to estimate the economic value of attributes that affect the market price of an asset. In environmental economics, such methods are routinely used to derive the economic valuation of environmental attributes such as air...
Persistent link: https://www.econbiz.de/10012986693
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A Ricardian-Demand Explanation for Changing Pharmaceutical R&D Productivity
Pauly, Mark V. - 2016
This paper examines trends in the aggregate productivity of the pharmaceutical sector over the past three decades. We incorporate Ricardo's insight about demand-driven productivity in settings of variable scarce resources, and estimate the industry's responsiveness to changes in demand over this...
Persistent link: https://www.econbiz.de/10012981621
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HIV Status and Labor Market Participation in South Africa
Levinsohn, James A. - 2011
econometric methods based on the propensity score to estimate the causal effect of HIV status on employment outcomes in South …
Persistent link: https://www.econbiz.de/10013127983
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Social Security and Retirement Around the World : Historical Trends in Mortality and Health, Employment, and Disability Insurance Participation and Reforms - Introduction and Summa...
Milligan, Kevin S. - 2011
the labor force participation of younger persons in twelve countries. We found no evidence that increasing the employment … of older persons will reduce the employment opportunities of youth and no evidence that increasing the employment of … employment circumstances of older workers. We find that these "exogenous" reforms can have a very large effect on the labor force …
Persistent link: https://www.econbiz.de/10013130978
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The General Theory of Employment, Interest, and Money after 75 Years : The Importance of Being in the Right Place at the Right Time
Luzzetti, Matthew N. - 2011
This paper studies why the General Theory had so much impact on the economics profession through the 1960s, why that impact began to wane in the 1970s, and why many economic policymakers cling to many of the tenets of the General Theory. We discuss three key elements along these lines, including...
Persistent link: https://www.econbiz.de/10013131957
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The Decline in Black Teenage Labor Force Participation in the South, 1900-1970 : The Role of Schooling
Margo, Robert A. - 2010
Between 1950 and 1970 the labor force participation rate of southern black males aged 16-19 declined by 27 percentage points. This decline has been attributed to two demand-side shocks: the mechanization of cotton agriculture in the 1950s and extensions in the coverage of the federal minimum...
Persistent link: https://www.econbiz.de/10013139248
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Racial Inequality in the 21st Century : The Declining Significance of Discrimination
Fryer, Roland G. - 2010
There are large and important differences between blacks and whites in nearly every facet of life - earnings, unemployment, incarceration, health, and so on. This chapter contains three themes. First, relative to the 20th century, the significance of discrimination as an explanation for racial...
Persistent link: https://www.econbiz.de/10013139516