This paper establishes that production unbundling has coincided with an inscreasing role of input costs in shaping the pattern of comparative advantage. I show that the wedge in the cost of the input bundle across countries in a multisectoral Ricardian model is given by a composite index of...

Using the network of university classmates among corporate directors and politicians and the regression discontinuity design of close gubernatorial elections from 1999 to 2010, we identify the positive and significant impact of social-network based political connections on firm value. Firms...

The paper reviews the state of the economic literature on the link between financial development and growth. We first examine the issue of measurement of financial development and the debate on the direction of causality between finance and growth. Next, we extensively discuss the various...

Residential segregation of America’s neighborhoods by income has been increasing over the past 40 years, with nearly 9 million people now living in census tracts with poverty rates of 40 percent or more (Watson, 2009, Kneebone, Nadeau, and Berube, 2011). Because housing policy affects the...

Which and how many attributes are relevant for the sorting of agents in a matching market? This paper addresses these questions by constructing indices of mutual attractiveness that aggregate information about agents’ attributes. The first k indices for agents on each side of the market...

This article proposes a new approach to estimate the effect of the unemployment rate on the labor participation ratio by sex and age. OECD labor participation ratios are estimated within an unobservable component model with the Kalman filter. This allows for treating the trend of the...

This article analyzes some of the issues raised by institutionalized public-private partnerships in an economic perspective. We demonstrate that although they may address some of the main limits of purely contractual public-private partnerships, such as the issues of control, know-how transfer,...

We calculate the bias of the profile score for the regression coefficients in a multistratum autoregressive model with stratum-specific intercepts. The bias is free of incidental parameters. Centering the profile score delivers an unbiased estimating equation and, upon integration, an adjusted...

We formulate and estimate a dynamic model of marriage, divorce and remarriage using 27 years old panel data for the enrire Danish cohort born in 1960. The marital surplus is identified from the probability of divorce, and the surplus shares of husband and wives from their willingness to enter...

Ecological crises born with the Anthropocene have arrived at a paradoxical juncture: as environmental degradations gradually become unbearable, environmental concern seems to become intolerable. One can think of two powerful forces at play behind this striking paradox sidestepping environmental...