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Can Falling Supply Explain the Rising Return to College for Younger Men? A Cohort-Based Analysis

Card, David - 2000

Although the college-high school wage gap for younger men has doubled over the past 30 years, the gap for older men has remained nearly constant. We argue that these shifts reflect changes in the relative supply of highly-educated workers across age groups. Cohorts born in the first half of the...

Persistent link: https://www.econbiz.de/10012471112

Paasche vs. Laspeyres : The Elasticity of Substitution and Bias in Measures of TFP Growth

Young, Alwyn - 1998

In recent papers, Nelson and Pack (1995) , Rodrik (1997), and Hsieh (1997a) argue that standard measures of total factor productivity growth in countries where the capital-labour ratio has risen rapidly, e.g. the East Asian NICS, will understate true productivity growth if the elasticity of...

Persistent link: https://www.econbiz.de/10012472148

Intertemporal Substitution in Macroeconomics

Mankiw, N. Gregory - 1982

time but not necessarily additively separable in consumption and leisure. We estimate three first order conditions which …, present leisure for future leisure and present consumption for present leisure. Our results show that the aggregate U.S. data … imply that either consumption or leisure is an inferior good …

Persistent link: https://www.econbiz.de/10012478210

Symmetric Substitution Matrices in Asset Demand Systsems

Jones, David S. - 1980

In this paper, necessary and sufficient conditions for an asset substitution matrix to be symmetric for all distributions of rates of return are derived. It is found that symmetry in this context is essentially equivalent to the proposition that the von Neumann-Morgenstern utility function...

Persistent link: https://www.econbiz.de/10012478559

A Parsimonious Macroeconomic Model for Asset Pricing

Guvenen, Fatih - 2009

In this paper, I study asset prices in a two-agent macroeconomic model with two key features: limited participation in the stock market and heterogeneity in the elasticity of intertemporal substitution in consumption (EIS). The model is consistent with some prominent features of asset prices...

Persistent link: https://www.econbiz.de/10012463406

International Portfolio Allocation under Model Uncertainty

Benigno, Pierpaolo - 2009

<i>An older version of this paper is available at http://www.nber.org/papers/w14734.rev0.pdf to NBER subscribers and those in domains eligible for free downloads. Individual purchasers of papers are directed to email orders@nber.org or to call 617 588-1405 to purchase the older version.</i>

Persistent link: https://www.econbiz.de/10012463913

Panel Data Estimates Of The Production Function And Product And Labor Market Imperfections

Dobbelaere, Sabien - 2008

Consistent with two models of imperfect competition in the labor market, the efficient bargaining model and the monopsony model, we provide two extensions of a microeconomic version of Hall's framework for estimating price-cost margins. We show that both product and labor market imperfections...

Persistent link: https://www.econbiz.de/10012464671

Can Weak Substitution be Rehabilitated?

Smith, V. Kerry - 2008

This paper develops a graphical analysis and an analytical model that demonstrate how weak substitution can be used for non-market valuation. Both weak complementarity and weak substitution can be evaluated as restrictions that allow quantity or quality changes in non-market goods to be...

Persistent link: https://www.econbiz.de/10012464744

Capital, Interest, and Aggregate Intertemporal Substitution

Mulligan, Casey B. - 2002

substitution over time --namely that 'the' interest rate in aggregate theory is not the promised yield on a Treasury Bill or Bond …

Persistent link: https://www.econbiz.de/10012469330

The Elasticity of Substitution Between Time and Market Goods : Evidence from the Great Recession

Nevo, Aviv - 2015

We document a change in household shopping behavior during the Great Recession. Households purchased more on sale, larger sizes and generic products, increased coupon usage, and shopping at discount stores. We estimate that the returns to these shopping activities declined during the recession...

Persistent link: https://www.econbiz.de/10012457349

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