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Reconsidering Heterogeneity and Aggregation Issues in Environmental Valuation: A Multi-attribute Approach
Barreiro-Hurlé, Jesús; Gómez-Limón, José - In: Environmental & Resource Economics 40 (2008) 4, pp. 551-570
Persistent link: https://www.econbiz.de/10005722229
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Optimal and Time-Consistent Monetary and Fiscal Policy with Heterogeneous Agents
Albanesi, Stefania - C.E.P.R. Discussion Papers - 2003
an economy where agents differ in transaction patterns and asset holdings. I find that heterogeneity breaks the link …
Persistent link: https://www.econbiz.de/10005656402
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Youth Employment and Academic Performance in High School
Eckstein, Zvi; Wolpin, Kenneth - C.E.P.R. Discussion Papers - 1998
The Fair Labour Standards Act (FLSA), impose restriction on working hours and the type of jobs held by minors at ages below 18. Hours worked in the National Longitudinal Survey of Youth (NLSY) sample increased monotonically from 2.5 for the 14-year-olds to 16.2 for the 18-year-olds, and among...
Persistent link: https://www.econbiz.de/10005656445
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Heterogenous Life-Cycle Profiles, Income Risk and Consumption Inequality
Primiceri, Giorgio E; van Rens, Thijs - C.E.P.R. Discussion Papers - 2006
Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of transitory shocks? The implications for consumption and welfare depend crucially on the answer to this question. We use CEX repeated cross-section data on consumption and income to...
Persistent link: https://www.econbiz.de/10005661588
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Job Search with Nonparticipation
Frijters, Paul; van der Klaauw, Bas - C.E.P.R. Discussion Papers - 2003
In a non-stationary job search model we allow unemployed workers to have a permanent option to leave the labour force. Transitions into nonparticipation occur when reservation wages drop below the utility of being nonparticipant. Taking account of these transitions allows the identification of...
Persistent link: https://www.econbiz.de/10005661892
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A Theory of Banks, Bonds, and the Distribution of Firm Size
Valderrama, Diego; Russ, Katheryn N. - Economics Department, University of California-Davis - 2009
Does targeted financial development favor small firms or large ones? And how do resulting changes in the distribution of firm size affect aggregate outcomes? We assess the macroeconomic implications of known stylized facts from the finance literature regarding firm size and financial frictions...
Persistent link: https://www.econbiz.de/10008485540
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FDI in the Banking Sector
de Blas, Beatriz; Russ, Katheryn - Economics Department, University of California-Davis - 2010
It is a well known quandry that when countries open their financial sectors, foreign-owned banks appear to bring superior efficiency to their host markets but also charge higher markups on borrowed funds than their domestically owned rivals, with unknown impacts on interest rates and welfare....
Persistent link: https://www.econbiz.de/10008485541
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Financial Choice in a Non-Ricardian Model of Trade
Russ, Katheryn; Valderrama, Diego - Economics Department, University of California-Davis - 2010
We join the new trade theory with a model of choice between bank and bond financing to show the differential effects of financial policy on the distribution of firm size, welfare, aggregate output, gains from trade, and the real exchange rate in a small open economy. Increasing bank efficiency...
Persistent link: https://www.econbiz.de/10008485542
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How Important is Human Capital? A Quantitative Theory Assessment of World Income Inequality
Erosa, Andres; Koreshkova, Tatyana; Restuccia, Diego - Department of Economics, Concordia University - 2009
We develop a quantitative theory of human capital investments in order to evaluate the magnitude of cross-country differences in total factor productivity (TFP) that explains the variation in per-capita incomes across countries. We build a heterogeneous-agent economy with cross-sectional...
Persistent link: https://www.econbiz.de/10008486382
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The Timing of Price Changes and the Role of Heterogeneity
Kaufmann, Daniel - Schweizerische Nationalbank (SNB) - 2009
often find decreasing hazards, possibly due to misspecified or neglected heterogeneity. This paper attempts to disentangle … the downward bias into various sources: observed and unobserved heterogeneity which can be either constant or time … for price changes, we have to (i) control for time-varying heterogeneity in addition to cross-sectional factors and (ii …
Persistent link: https://www.econbiz.de/10008487539