Showing papers in "Research in Economics in 2017"

TL;DR: In this paper, the authors present comparative global evidence on the transformation of economic growth to poverty reduction in developing countries, with emphasis on the role of income inequality, and find that on average income growth has been the major driving force behind both the declines and increases in poverty.

TL;DR: In this article, the authors compute the covariance between stock-returns and an asset-pricing factor, which depends on the decline of consumption during a depression, with a coefficient of relative risk aversion around 3.5.

TL;DR: In this article, the authors suggest a relationship between the search costs and the severity of adverse selection in a dynamic model with asymmetric information, and propose a budget balanced mechanism to mitigate adverse selection.

TL;DR: This paper used highly disaggregate trade data, e.g., Gabon imports of Gambian groundnuts, to estimate the impact that new imports have had in approximately 4000 markets per country.

TL;DR: In this paper, a large sample of entrepreneurs, 2D:4D (second-to-fourth digit) ratio and managerial performance were studied and it was found that entrepreneurial ability has a biological component and is consistent with models of the size distribution of firms based on entrepreneurial ability.

TL;DR: Auerbach et al. as mentioned in this paper used real-time forecast data to purge policy innovations of their predictable components and estimate government purchase multipliers for Japan, following the approach used previously for a panel of OECD countries.

TL;DR: In this article, the authors studied the interactions between access to finance, product innovation, and labor supply in a two-period overlapping generations model with an endogenous skill distribution and credit market frictions.

TL;DR: The authors argue that the Federal Reserve can improve communication in the current environment by moving away from time-based forward guidance, clarifying how interest rates are likely to change given new information, and providing more information in the Summary of Economic Projections, and argue that, except under unusual circumstances, this is an imprudent strategy as it mutes the effect of macroeconomic news on interest rates and unnecessarily places restrictions on future Federal Reserve action when new information arrives.

TL;DR: In this paper, the conceptually useful allegory of a futuristic "World Climate Assembly" that votes on global carbon emissions via the basic principle of majority rule is proposed, and two variants are considered: one is to vote on a universal price that is internationally harmonized, but the proceeds from which are domestically retained.

TL;DR: In this article, the authors document evidence of the growth of the joint purchase of electric and hybrid vehicles and solar panels, and discuss pricing and quality trends for these green durable goods.

TL;DR: In this article, the authors investigated the relationship between trade liberalization, financial modernization and economic development for 14 countries in the Asia and Pacific region over the period spanning from 1961 to 2011, using panel data as they have many advantages over cross-sectional or time series data.

TL;DR: In this article, the authors introduce geoengineering into a simple analytical model of climate change and model the technical and economic characteristics of geoengineering in line with the recent literature from physical and environmental management sciences, investigating under which circumstances geoengineering can substitute, partly or completely, for traditional abatement strategies, under which conditions and at what level geoengineering is optimally employed.

TL;DR: This paper measured the distribution of firms' financial soundness over most of the last century for a broad cross-section of firms and highlighted three main findings for this key aggregate state variable.

TL;DR: In this paper, the authors study the information preferences and information demand of decision-makers facing uncertainty and provide necessary and sufficient conditions for decision makers with different classes of payoff functions to prefer one information structure to another.

TL;DR: In this article, the authors provide a model where a typical public good requires different inputs which raises the possibility of partnerships to exploit comparative advantages of different parties, but hold-up problems due to contractual incompleteness in specifying tasks discourage separation of ownership and management.

TL;DR: In this article, the authors derive the condition under which NGDP targeting would dominate other regimes such as annual IT, to achieve objectives of output and price stability, and conclude that the condition may indeed hold.

TL;DR: The authors examined the effect of externalities on firm-level productivity and wages in manufacturing and found that agglomeration externalities occur through both productivity and wage effects, and that large firms facing no local competition have higher revenues and pay lower wages.

TL;DR: The authors reevaluate Farrell and Rabin's assumptions on how players use language and their conclusions on the limits of communication in bringing about coordination in the Battle of the Sexes, and suggest that their agreement do not reflect a full meeting of the minds.

TL;DR: In this article, the authors show that non-separable utility, variable demand elasticity and endogenous firm heterogeneity cause the market equilibrium to err in many ways, concerning the number of products, the size and the choice of producers, the overall size of the monopolistically competitive sector.

TL;DR: The authors study the impact of the rise in female labor supply on the economic performance of the United States over the period 1967-2002 through the lens of a calibrated structural model, and conclude that half of the growth in US earnings per capita over this period can be traced to growth in female labour supply.

TL;DR: The authors designed a peer tutoring program that matches high-performing students as tutors to their low-performing classmates and provides non-monetary incentives for them to study together and improve the pair's academic performance.

TL;DR: In this paper, the authors provide definitions of authority in a variety of problems and investigate how and when individuals can have, gain, and lose authority, and investigate when and how individuals can gain or lose authority.

TL;DR: In this paper, the authors proposed a theoretical framework for studying the effects of geographical factors on the distribution of industries across many regions and summarized the geographical feature of each region by a proximity matrix, whose elements measure the closeness between every pair of regions and depend on the parameters representing the transport and other costs of using a variety of trade routes.

TL;DR: In this article, the authors initiated a research program to explore how much and how much collusion is involved in collusion in the context of mutual beliefs, and the legal focus on mutual beliefs.

TL;DR: This article evaluated the Reggio Approach using non-experimental data on individuals belonging to one of five age cohorts: ages 50, 40, 30, 18, and 6 as of 2012, and found that it significantly boosts outcomes related to employment, socio-emotional skills, high school graduation, election participation, and obesity.

TL;DR: This article found that those who play video games are typically better educated and no less wealthier, and games players are also more likely than non-games players to participate in other forms of culture, particularly active forms of participation.

TL;DR: In this article, the authors studied the optimal prevention and cure when an agent copes with two different sources of uncertainty: uncertainty on disease effect and uncertainty on cure effectiveness, and characterized for each source of uncertainty the conditions for the optimal level of cure to increase.

TL;DR: In this paper, the authors introduced a cost of location into Hotelling's (1929) spatial duopoly model and derived the general conditions on the cost-of-location function under which a pure strategy price-location Nash equilibrium exists.

TL;DR: In this paper, the authors study monopolistic competition with symmetric directly additive preferences (generating variable mark-ups) and an endogenous technology choice, and prove that the equilibrium R&D investment increases with market size (a larger population or trade) only if the price-elasticity of demand is an increasing function.

TL;DR: In this article, the authors introduce a class of "increasing elasticity of substitution" preferences in a monopolistic competition setting and find that a market which is widening, as a result of international trade, increases price-cost margins and reduces firm sizes.