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Measuring the Spatial Misallocation of Labor: The Returns to India-Gulf Guest Work in a Natural Experiment
Clemens, Michael A. - 2019
'Guest workers' earn higher wages overseas on temporary low-skill employment visas. This wage effect can quantify global inefficiencies in the pure spatial allocation of labor between poorer and richer countries. But rigorous estimates are rare, complicated by migrant self-selection. This paper...
Persistent link: https://www.econbiz.de/10011984655
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Where should governments invest? The impact of economic, political, social and technological factors on the formation of new firms
Garcia-Murillo, Martha; Velez-Ospina, Jorge Andres; … - 2012
The purpose of this paper is to identify the factors that affect the creation of new firms. We take into consideration economic, political, social and technological factors which should also help governments realize the areas that we found to have the greatest impact. The study relies on data...
Persistent link: https://www.econbiz.de/10010309730
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Life after default: Credit hardship and its effects
De Giorgi, Giacomo; Naguib, Costanza - 2022
on income, credit score, total credit limit, and home-ownership status.AWe analyze the impact of credit default on … cheaper areas. Importantly, default has long-lasting negative effects on income, credit score, total credit limit, and home …We analyze the impact of credit default on individual trajectories. Using a proprietary dataset for the years 2004 …
Persistent link: https://www.econbiz.de/10013461492
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Seven economic facts about the U.S. racial wealth gap
Broady, Kristen; Booth-Bell, Darlene; Griffin, Taylor - 2022
disparities in income, employment, homeownership, education, access to credit, and retirement savings - all factors that …
Persistent link: https://www.econbiz.de/10013479458
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Economic and non-economic returns to Communist Party membership in Viet Nam
Markussen, Thomas - 2018
credit and to boost income from farm and non-farm enterprises. There are strong gender effects: men are several times more … differences between party members and others. Results suggest that party membership has a moderate positive effect on income, on … the order of seven per cent, and a large positive effect on subjective well-being, even after controlling for income …
Persistent link: https://www.econbiz.de/10011943853
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Policy interaction, expectations, and the liquidity trap
Evans, George W.; Honkapohja, Seppo - 2003
The authors consider inflation and government debt dynamics when monetary policy employs a global interest rate rule and private agents forecast using adaptive learning. Because of the zero lower bound on interest rates, active interest rate rules are known to imply the existence of a second,...
Persistent link: https://www.econbiz.de/10010397381
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Liquidity crises in emerging markets: Theory and policy
Chang, Roberto; Velasco, Andres - 1999
We build a model of financial sector illiquidity in an open economy. Illiquidity is defined as a situation in which a country's consolidated financial system has potential short-term obligations that exceed the amount of foreign currency available on short notice. We show that illiquidity is key...
Persistent link: https://www.econbiz.de/10010397400
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Financial crises in emerging markets: a canonical model
Chang, Roberto; Velasco, Andres - 1998
expectations. A bank collapse multiplies the harmful effects of an initial shock, as a credit squeeze and costly liquidation of …
Persistent link: https://www.econbiz.de/10010397417
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The impact of a dealer's failure on OTC derivatives market liquidity during volatile periods
Wall, Larry D.; Tallman, Ellis W.; Abken, Peter A. - 1996
seeking to speculate with a dealer that does not know their credit status. The paper models this information loss and uses the …
Persistent link: https://www.econbiz.de/10010397429
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Discussion of Evans and Honkapohja, "Policy interaction, expectations, and the liquidity trap"
Cho, In-Koo - 2003
The result of Benhabib, Schmitt-Grohé, and Uribe (2001) is powerful because it relies only on three rather natural conditions: the Fisher equation, the convex Taylor rule, and the lower bound of the nominal interest rate. Their result is striking because the paper reveals the peril of the...
Persistent link: https://www.econbiz.de/10010397524