This note constructs a new ranking of economics departments that employs a measure of teaching-focused research productivity, an area of growing importance in recent years. The ranking methodology presented here aggregates and orders citations to an institution's research output that is...

This paper investigates how economic openness affects the responsiveness of aggregate supply (AS) and aggregate demand (AD). We show that AD is flatter in more-open economies when economic openness is positively associated with the slope of AS (Romer, 1993)

This paper investigates the relation between economic openness and the aggressiveness of monetary authorities to ensure price stability. In a sample of 114 countries for the period 1949-2001, we find that more open economies tend to have more aggressive monetary policies which results in less...

The assumption of homogenous representative agents with perfect rationality is challenged by recent macroeconomic literature. In this paper, we consider an asymmetric information diffusion process from more-informed to less-informed agents in a standard cobweb-type expectation model. Our main...

In this paper, we revisit the results from the influential study by Borensztein et al. (Journal of International Economics 45:115?135, 1998), which argues that inward foreign direct investment (FDI) promotes the economic growth in a less developed host country only when the host country obtains...

Journal rankings have been used as a common low-cost management tool by academic institutions to measure research productivity among scholars. In this paper, we extend the work by Lo et al. (2008) that produced rankings of economics journals, departments, and economists based on teaching-focused...

We study the relationship between leisure and happiness, controlling both for individual and national variables. Using international survey data from 33 countries in 2007, our results show that certain leisure activities, satisfaction from leisure, and meaning of leisure to individuals all...

Does homophily provide a role for deep-rooted factors like cultural connections to affect foreign direct investment (FDI)? With data on US FDI to 74 host countries from 1984 to 2017, our results show a negative effect of home-host cultural distance on FDI. Using a higher-order spatial model that...

We investigate the effectiveness of an aggressive anti-inflation monetary policy on the ability of agents to achieve rational expectations equilibrium (REE) forecasts of inflation. An aggressive anti-inflation policy includes a willingness to respond more forcefully to deviations from an...