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The Price Impact of Joining a Currency Union : Evidence from Latvia

Cavallo, Alberto - 2014

consumption goods. We consider the case of Latvia, which recently dropped its pegged exchange rate and joined the euro zone. We … between Latvia and euro zone countries collapsed swiftly following entry to the euro. The percentage of goods with nearly … identical prices in Latvia and Germany increased from 6 percent to 89 percent. The median size of price differentials declined …

Persistent link: https://www.econbiz.de/10012458441

A Cognitive View of Policing

Dube, Oeindrila; MacArthur, Sandy Jo; Shah, Anuj K. - National Bureau of Economic Research - 2023

What causes adverse policing outcomes, such as excessive uses of force and unnecessary arrests? Prevailing explanations focus on problematic officers or deficient regulations and oversight. Here, we introduce a new, overlooked perspective. We suggest that the cognitive demands inherent in...

Persistent link: https://www.econbiz.de/10014372408

A Model of R&D Valuation and the Design of Research Incentives

Hsu, Jason C. - 2003

We develop a real options model of R&D valuation, which takes into account the uncertainty in the quality of the research output, the time and cost to completion, and the market demand for the R&D output. The model is then applied to study the problem of pharmaceutical under-investment in R&D...

Persistent link: https://www.econbiz.de/10012468653

Fixing the Patent Office

Lemley, Mark A. - 2012

How can we allow patent examiners to effectively distinguish between patentable and unpatentable inventions, without slowing the process to a crawl or wasting a bunch of money? This essay reviews the recent literature and considers a number of proposals and their limitations. It concludes that...

Persistent link: https://www.econbiz.de/10012460578

Program Evaluation and Research Designs

DiNardo, John - 2010

This chapter provides a selective review of some contemporary approaches to program evaluation. One motivation for our review is the recent emergence and increasing use of a particular kind of "program" in applied microeconomic research, the so-called Regression Discontinuity (RD) Design of...

Persistent link: https://www.econbiz.de/10012462637

Transfer Program Complexity and the Take Up of Social Benefits

Kleven, Henrik Jacobsen - 2008

This paper models complexity in social programs as a byproduct of efforts to screen between deserving and undeserving applicants. While a more rigorous screening technology may have desirable effects on targeting efficiency, the associated complexity introduces transaction costs into the...

Persistent link: https://www.econbiz.de/10012464334

Modeling the Long Run : Valuation in Dynamic Stochastic Economies

Hansen, Lars Peter - 2008

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/10012464404

Program Evaluation as a Decision Problem

Dehejia, Rajeev - 1999

I argue for thinking of program evaluation as a decision problem. In the context of California's GAIN experiment (a randomized trial of a welfare-to-work alternative to AFDC), I show that GAIN first-order stochastically dominates AFDC when considering the choice between the treatment and control...

Persistent link: https://www.econbiz.de/10012471853

Project Appraisal and Foreign Exchange Constraints : A Simple Exposition

Blitzer, Charles R. - 1987

In an earlier paper, we showed that the value of shadow prices depends on how the government contemplates re- equilibrating the economy to the perturbation associated with any project, except in the extreme case where the government has chosen all policy instruments optimally. Only under...

Persistent link: https://www.econbiz.de/10012476904

The Social Cost of Labor, and Project Evaluation : A General Approach

Stiglitz, Joseph E. - 1983

This paper develops a general methodology for analyzing shadow wage (and other shadow prices). Our approach is to identify those reduced form relationships describing the economy which are central to the determination of the shadow wage, and use these to obtain simple formulae for the shadow...

Persistent link: https://www.econbiz.de/10012477868