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The Rise, Fall and Stabilization of U.S. Inflation : Shifting Regimes and Evolving Reputation

King, Robert G.; Lu, Yang - National Bureau of Economic Research - 2021

The rise, fall, and stabilization of US inflation between 1969 and 2005 is consistent with a model of shifting policy regimes that features a forward-looking New Keynesian Phillips curve, policymakers that can or cannot commit, and private sector learning about policymaker type. Using...

Persistent link: https://www.econbiz.de/10012794613

Credibility and Policy Convergence : Evidence from U.S. House Roll Call Voting Records

Lee, David S. - 2002

Traditional models of politician behavior predict complete or partial policy convergence, whereby electoral competition compels partisan politicians to choose positions more moderate than their most-preferred policies. Alternatively, if politicians cannot overcome the inability to make binding...

Persistent link: https://www.econbiz.de/10012469391

Evolving Reputation for Commitment : The Rise, Fall and Stabilization of US Inflation

King, Robert G.; Lu, Yang - National Bureau of Economic Research - 2022

A parsimonious model of shifting policy regimes can simultaneously capture expected and actual US inflation during 1969-2005. Our model features a forward-looking New Keynesian Phillips curve and purposeful policymakers that can or cannot commit. Private sector learning about policymaker type...

Persistent link: https://www.econbiz.de/10013477255

Living Up to Expectations : Central Bank Credibility, the Effectiveness of Forward Guidance, and Inflation Dynamics Post-Global Financial Crisis

Cole, Stephen J.; Martínez-García, Enrique; Sims, Eric R. - National Bureau of Economic Research - 2023

This paper studies the effectiveness of forward guidance when central banks have imperfect credibility. Exploiting … expectations. In our model, the key parameter that aggregates heterogeneous expectations captures the central bank's credibility …, and other major advanced economies have similar levels of credibility (albeit far from full credibility); however, Japan …

Persistent link: https://www.econbiz.de/10014421202

Management and Misallocation in Mexico

Bloom, Nicholas; Iacovone, Leonardo; Pereira-López, Mariana - National Bureau of Economic Research - 2022

We argue that greater misallocation is a key driver of the worse management practices in Mexico compared to the US. These management practices are strongly associated with higher productivity, growth, trade, and innovation. One indicator of greater misallocation in Mexico is the weaker...

Persistent link: https://www.econbiz.de/10012938686

Does Gender Matter for Political Leadership? The Case of U.S. Mayors

Ferreira, Fernando - 2011

What are the consequences of electing a female leader for policy and political outcomes? We answer this question in the context of U.S. cities, where women's participation in mayoral elections increased from negligible numbers in 1970 to about one-third of the elections in the 2000's. We use a...

Persistent link: https://www.econbiz.de/10012460986

Playlisting Favorites : Measuring Platform Bias in the Music Industry

Aguiar, Luis; Waldfogel, Joel; Waldfogel, Sarah B. - National Bureau of Economic Research - 2021

Platforms are growing increasingly powerful, raising questions about whether their power might be exercised with bias. While bias is inherently difficult to measure, we identify a context within the music industry that is amenable to bias testing. Our approach requires ex ante platform...

Persistent link: https://www.econbiz.de/10012599307

Pop Internationalism : Has A Half Century of World Music Trade Displaced Local Culture?

Ferreira, Fernando - 2010

Advances in communication technologies over the past half century have made the cultural goods of one country more readily available to consumers in another, raising concerns that cultural products from large economies - in particular the US - will displace the indigenous cultural products of...

Persistent link: https://www.econbiz.de/10012462688

Music for a Song : An Empirical Look at Uniform Song Pricing and its Alternatives

Shiller, Ben - 2009

Economists have well-developed theories that challenge the wisdom of the common practice of uniform pricing. With digital music as its context, this paper explores the profit and welfare implications of various alternatives, including song-specific pricing, various forms of bundling, two-part...

Persistent link: https://www.econbiz.de/10012463259

Information Spillovers in the Market for Recorded Music

Hendricks, Ken - 2006

This paper studies the role of consumer learning in the demand for recorded music by examining the impact of an artist's new album on sales of past and future albums. Using detailed album sales data for a sample of 355 artists, we show that the release of a new album increases sales of old...

Persistent link: https://www.econbiz.de/10012466405

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