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Unemployment and Environmental Regulation in General Equilibrium

Hafstead, Marc A. C. - 2016

This paper analyzes the effects of environmental policy on employment (and unemployment) using a new general-equilibrium two-sector search model. We find that imposing a pollution tax causes substantial reductions in employment in the regulated (polluting) industry, but this is offset by...

Persistent link: https://www.econbiz.de/10012991682

The 'Pupil' Factory : Specialization and the Production of Human Capital in Schools

Fryer, Roland G. - 2016

Starting in the 2013-2014 school year, I conducted a randomized field experiment in fifty traditional public elementary schools in Houston, Texas designed to test the potential productivity benefits of teacher specialization in schools. Treatment schools altered their schedules to have teachers...

Persistent link: https://www.econbiz.de/10012993233

Market Reforms in the Time of Imbalance

Cacciatore, Matteo - 2016

We study the consequences of product and labor market reforms in a two-country model with endogenous producer entry and labor market frictions. We focus on the role of business cycle conditions and external constraints at the time of reform implementation (or of a credible commitment to it) in...

Persistent link: https://www.econbiz.de/10012994915

Financial Dampening

Wieland, Johannes - 2016

We propose a novel mechanism, “financial dampening,” whereby loan retrenchment by banks attenuates the effectiveness of monetary policy. The theory unifies an endogenous supply of illiquid local loans and risk-sharing among subsidiaries of bank holding companies (BHCs). We derive an...

Persistent link: https://www.econbiz.de/10012995512

Viewpoint : The Human Capital Approach to Inference

MacLeod, W. Bentley - 2016

The purpose of this essay is to discuss two approaches to inference, and how "human capital" can provide a way to combine them. The first approach, ubiquitous in economics, is based upon the Rubin/Holland potential outcomes model and relies upon randomized treatment to measure the causal effect...

Persistent link: https://www.econbiz.de/10012995971

Efficient Local Government Service Provision : the Role of Privatization and Public Sector Unions

Jerch, Rhiannon - 2016

Local governments spend roughly $1.6 trillion per year to provide a variety of public services ranging from police and fire protection to public schools and public transit. However, we know little about public sector's productivity in delivering key services. To understand the productivity both...

Persistent link: https://www.econbiz.de/10012996392

Sufficient Statistics for Imperfect Externality-Correcting Policies

Jacobsen, Mark R. - 2016

Pigouvian taxes can fully correct for market failures due to externalities, but actual policies are commonly forced to … demonstrate that, under certain intuitive conditions, standard output from a regression of true externalities on policy variables … externalities, imperfect spatial policy differentiation, and heterogeneity in the longevity of energy-consuming durable goods …

Persistent link: https://www.econbiz.de/10012997372

Offshoring and Labor Markets

Hummels, David L. - 2016

We survey the recent empirical literature on the effects of offshoring on wages, employment and displacement. We start with the measurement of offshoring, focusing on the use of imported inputs that could have been produced by the importing firm. We overview key theories related to offshoring...

Persistent link: https://www.econbiz.de/10012997887

Inconsistent Policy Evaluation : A Case Study for a Large Workfare Program

Alik-Lagrange, Arthur - 2015

Evaluations of workfare programs in poor rural economies have typically ignored two features that policy makers stress: involuntary unemployment and the expected welfare losses from work requirements. The paper generalizes past evaluation theory and methods to incorporate both features, and...

Persistent link: https://www.econbiz.de/10013025789

Systemic Risk and the Macroeconomy : An Empirical Evaluation

Giglio, Stefano - 2015

This article evaluates a large collection of systemic risk measures based on their ability to predict macroeconomic downturns. We evaluate 19 measures of systemic risk in the US and Europe spanning several decades. We propose dimension reduction estimators for constructing systemic risk indexes...

Persistent link: https://www.econbiz.de/10013027685