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In the past two decades, cross-border portfolio holdings of a large variety of assets have risen sharply. This has created an important role for changes in asset prices of a country's external assets and liabilities (i.e. "valuation effects") in affecting the country's net foreign asset...
Persistent link: https://www.econbiz.de/10011394468
This paper estimates dynamic employment multipliers in a U.S. county during 1998-2015. On average, one exogenous tradable job gain creates 1.1 jobs in the rest of the county economy in the same year, but is offset by losses of 0.23 job one year later and 0.32 job two years later. The multiplier...
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The economic approach to determine optimal legal policies involves maximizing a social welfare function. We propose an alternative: a consent-approach that seeks to promote consensual interactions and deter non-consensual interactions. The consent-approach does not rest upon inter-personal...
Persistent link: https://www.econbiz.de/10013238341
Using data from one of Australia's largest thoroughbred auction houses, we investigate the price determinants of thoroughbred yearlings sold at auction. We include novel key variables to construct various hedonic pricing models, and test whether the models forecast sufficiently well...
Persistent link: https://www.econbiz.de/10012930697
We explore the effect of oil import price shocks on political outcomes using a worldwide dataset on elections of chief executives. Oil import price shocks cause a reduction in the odds of reelection of incumbents, an increase in media chatter about fuel prices, and an increase in non-violent...
Persistent link: https://www.econbiz.de/10014083047
This paper estimates dynamic employment multipliers in a U.S. county during 1998-2015. On average, one exogenous tradable job gain creates 1.1 jobs in the rest of the county economy in the same year, but is offset by losses of 0.23 job one year later and 0.32 job two years later. The multiplier...
Persistent link: https://www.econbiz.de/10012951524