Showing 1 - 10 of 100
We examine the US state-level pattern of American Recovery and Reinvestment Act (ARRA) spending. We relate spending to (1) Keynesian determinants of countercyclical policy, (2) congressional power and dominance, and (3) presidential electoral vote importance. We find that the ARRA is, in...
Persistent link: https://www.econbiz.de/10010988085
In this paper we model the migration decisions of high-skilled women as a function of the benefits associated with moving from an origin with relatively low women's rights to a destination with a relatively high level of women's rights. However, the costs faced by women are decreasing in the...
Persistent link: https://www.econbiz.de/10010884165
Recent literatures on entrepreneurship and economic growth estimate the empirical relationships between the following pairs of variables: (1) institutions and entrepreneurial activity; (2) institutions and economic growth; and (3) entrepreneurship and economic growth. This paper revisits each of...
Persistent link: https://www.econbiz.de/10010903090
Persistent link: https://www.econbiz.de/10005361146
We use U.S. county data (3,058 observations) and 41 conditioning variables to study growth and convergence. Using OLS and 3SLS-IV we report on the full sample and metro, non-metro, and 5 regional samples: (1) OLS yields convergence rates around 2 percent; 3SLS yields 6–8 percent; (2)...
Persistent link: https://www.econbiz.de/10005076836
We extend the basic RBC model to allow for biased technical changes. One broad definition of biased technical changes is changes that directly affect factor elasticities. Given the link between changes in factor elasticities and factor shares, observed fluctuations in US labor's share are...
Persistent link: https://www.econbiz.de/10005085520
Persistent link: https://www.econbiz.de/10010863658
We offer the first direct evidence of an implicit contract in a goods market. The evidence we offer comes from the market for Coca-Cola. We demonstrate that the Coca-Cola Company left a substantial amount of written evidence of its implicit contract with its consumers—a very explicit form of...
Persistent link: https://www.econbiz.de/10005789498
We report that the price of a 6.5oz Coke was 5¢ from 1886 until 1959. Thus, we are documenting a nominal price rigidity that lasted more than 70 years! The case of Coca-Cola is particularly interesting because during the 70-year period there were substantial changes in the soft drink industry...
Persistent link: https://www.econbiz.de/10005789801
We use U.S. county-level data to estimate convergence rates for 22 individual states. We find significant heterogeneity; e.g., the California estimate is 19.9 percent and the New York estimate is 3.3 percent. Convergence rates are essentially uncorrelated with income levels.
Persistent link: https://www.econbiz.de/10010700264