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Methods versus Substance: Measuring the Effects of Technology Shocks on Hours
Ríos-Rull, José-Víctor; Schorfheide, Frank; … - National Bureau of Economic Research (NBER) - 2009
In this paper, we employ both calibration and modern (Bayesian) estimation methods to assess the role of neutral and investment-specific technology shocks in generating fluctuations in hours. Using a neoclassical stochastic growth model, we show how answers are shaped by the identification...
Persistent link: https://www.econbiz.de/10008631113
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Freedom to Trade and the Competitive Process
Edlin, Aaron; Farrell, Joseph - National Bureau of Economic Research (NBER) - 2011
Although antitrust courts sometimes stress the competitive process, they have not deeply explored what that process is. Inspired by the theory of the core, we explore the idea that the competitive process is the process of sellers and buyers forming improving coalitions. Much of antitrust can be...
Persistent link: https://www.econbiz.de/10008855525
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A General Rationale for a Governmental Role in the Relief of Large Risks
Shavell, Steven - National Bureau of Economic Research (NBER) - 2014
The government often provides relief against large risks, such as disasters. A simple, general rationale for this role of government is considered here that applies even when private contracting to share risks is not subject to market imperfections. Specifically, the optimal private sharing of...
Persistent link: https://www.econbiz.de/10010780810
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Liability for Accidents
Shavell, Steven - National Bureau of Economic Research (NBER) - 2005
corrective taxation and to regulation. …
Persistent link: https://www.econbiz.de/10005575598
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The Trouble with Cases
Zeckhauser, Richard; Schauer, Frederick - National Bureau of Economic Research (NBER) - 2009
, environmental, and other litigation has functioned as an alternative form of regulation, the debate asks whether policy-making or … regulation by litigation is more or less socially desirable than more traditional policy-making by ex ante rule-making by … things considered. Rather, we seek to show that any form of regulation that is dominated by high-salience particular cases is …
Persistent link: https://www.econbiz.de/10005084662
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Antitrust and Regulation
Carlton, Dennis W.; Picker, Randal C. - National Bureau of Economic Research (NBER) - 2007
Since the passage of the Interstate Commerce Act (1897) and the Sherman Act (1890), regulation and antitrust have … operated as competing mechanisms to control competition. Regulation produced cross-subsidies and favors to special interests … antitrust and regulation. Antitrust and regulation can also be viewed as complements in which regulation and antitrust assign …
Persistent link: https://www.econbiz.de/10005774722
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Black Box Warnings and Drug Safety: Examining the Determinants and Timing of FDA Warning Labels
Begosh, Allan; Goldsmith, John; Hass, Ed; Lutter, Randall W. - National Bureau of Economic Research (NBER) - 2006
Comparing the safety of prescription drugs over time is difficult due to the paucity of reliable quantitative measures of drug safety. Both the academic literature and popular press have focused on drug withdrawals as a proxy for breakdowns in the drug safety system. This metric, however, is...
Persistent link: https://www.econbiz.de/10005575064
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The Idea of Antipoverty Policy
Ravallion, Martin - National Bureau of Economic Research (NBER) - 2013
How did we come to think that eliminating poverty is a legitimate goal for public policy? What types of policies have emerged in the hope of attaining that goal? The last 200 years have witnessed a dramatic change in thinking about poverty. Mainstream economic thinking in the 18th century held...
Persistent link: https://www.econbiz.de/10010951259
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Corporate Ownership in France: The Importance of History
Murphy, Antoin E. - National Bureau of Economic Research (NBER) - 2004
This paper attempts to show the importance of history in influencing the structure of corporate ownership in France. The strong concentration of family ownership in France is traced to historical weaknesses in the money and capital markets that forced families to have recourse to self-financing....
Persistent link: https://www.econbiz.de/10005019430
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What do we know about Macroeconomics that Fisher and Wicksell did not?
Blanchard, Olivier - National Bureau of Economic Research (NBER) - 2000
The answer to the question in the title is: A lot. In this essay, I argue that the history of macroeconomics during the 20th century can be divided in three epochs: Pre 1940. A period of exploration, where macroeconomics was not macroeconomics yet, but monetary theory on one side, business cycle...
Persistent link: https://www.econbiz.de/10005575280