Browsing Economics Working Papers by Title
Now showing items 4059 of 159

The ECorrespondence Principle
(University of Oregon, Dept of Economics, 20030623)We introduce the Ecorrespondence principle for stochastic dynamic expectations models as a tool for comparative dynamics analysis. The principle is applicable to equilibria that are stable under least squares and closely ... 
Econometrics of the forward premium puzzle
(University of Oregon, Dept of Economics, 20050915)This paper explores from a new perspective the forward premium puzzle, i.e., why a regression of the change in the future spot exchange rate on the forward premium paradoxically yields a coefficient that is frequently ... 
Economic Experiments That You Can Perform At Home On Your Children
(University of Oregon, Dept. of Economics, 20010601)This paper describes some simple economic experiments that can be done using children as subjects. We argue that by conducting experiments on children economists can gain insight into the origins of preferences, the ... 
The effect on inequality of changing one or two incomes
(University of Oregon, Dept. of Economics, 20030610)We examine the effect on inequality of increasing one income, and show that for two wide classes of indices a benchmark income level or position exists, dividing upper from lower incomes, such that if a lower income is ... 
The Effects of Bilateral Tax Treaties on U.S. FDI Activity
(University of Oregon, Dept. of Economics, 20010101)The effects of bilateral tax treaties on FDI activity have been unexplored, despite significant ongoing activities by countries to negotiate and ratify these treaties. This paper estimates the impact of bilateral tax ... 
Eliciting IndividualSpecific Discount Rates
(University of Oregon, Dept. of Economics, 20030101)Longstanding debate over the appropriate social discount rate for public projects stems from our lack of knowledge about how individual discount rates vary across people and across choice contexts. Using a sample of roughly ... 
An Empirical Model of Demand for Future Health States when Valuing RiskMitigating Programs
(University of Oregon, Dept. of Economics, 200403)We develop a structural option price model in which individuals choose among competing riskmitigating programs to alter their probability of experiencing future years in various degraded health states. The novel aspects ... 
The Empirical Trap of Sign Reversals with Equality Restrictions
(University of Oregon, Dept of Economics, 20050115)This note explores the insidious empirical trap posed by two common equality restrictions in regression analysis. The trap is that restricted coefficients can lie outside the interval of unrestricted coefficients and even ... 
Endogenous Lifetime and Economic Growth
(University of Oregon, Dept. of Economics, 20020126)Conventional wisdom attributes the severity of mortality in poorer countries to widespread poverty and inadequate living conditions. This paper considers the possibility that persistent poverty may arise, in turn, from a ... 
The Equal Sacrifice Principle Revisited
(University of Oregon, Dept of Economics, 20060601)What does an equal sacrifice tax look like in the case of a rankdependent social welfare function? One's tax liability evidently becomes a function of one's income and one's position in the distribution in such a case, ... 
Estimating the Impact of TimeInvariant Variables on FDI with Fixed Effects
(University of Oregon, Dept of Economics, 200705)This paper applies the panel fixed effects with vector decomposition estimator to three FDI datasets to estimate the impact of timeinvariant variables on FDI while including fixed effects. We find that the omission of ... 
Estimating The KnowledgeCapital Model of the Multinational Enterprise: Comment
(University of Oregon, Dept. of Economics, 20020301)No abstract was submitted. 
Evidence of Environmental Migration: Housing values alone may not capture the full effects of local environmental disamenities
(University of Oregon, Dept of Economics, 20050101)In hedonic property value models, economists typically assume that changing perceptions of environmental risk should be captured by changes in housing prices. However, for longlived environmental problems, we find that ... 
Exchange Rate Regime Choice and Country Characteristics: an Empirical Investigation into the Role of Openness
(University of Oregon, Dept of Economics, 20041020)In choosing an exchange rate regime for a small open economy, the common wisdom (Friedman (1953), Meade (1950)) calls for a °oating regime to outperform a peg because of the ability of the former to cope with relative price ... 
Existence of Adaptively Stable Sunspot Equilibria near an Indeterminate Steady State
(University of Oregon, Dept. of Economics, 20020406)We examine the nonlinear model x_t = E_t F(x_(t+1)). Markov SSEs exist near an indeterminate steady state, hat(x)=F(hat(x)), provided F'(hat(x) > 1. Despite the importance of indeterminancy in macroeconomics, earlier ... 
Expectational Stability of Stationary Sunspot Equilibria in a Forwardlooking Linear Model
(University of Oregon, Dept. of Economics, 20020114)We consider the stability under adaptive learning of the complete set of solutions to the model x_i=beta(Ei*)(x_i+1) when beat >1. In addition to the fundamentals solution, the literature describes both finitestate ... 
Expectations and the Stability Problem for Optimal Monetary Policies
(University of Oregon, Dept. of Economics, 20010803)A fundamentals based monetary policy rule, which would be the optimal monetary policy without commitment when private agents have perfectly rational expectations, is unstable if in fact these agents follow standard adaptive ... 
Expectations, Deflation Traps and Macroeconomic Policy
(University of Oregon, Dept of Economics, 20090706)We examine global economic dynamics under infinitehorizon learning in a New Keynesian model in which the interestrate rule is subject to the zero lower bound. As in Evans, Guse and Honkapohja (2008), we find that under ... 
An Experimental Test of Criminal Behavior Among Juveniles and Young Adults
(University of Oregon, Dept of Economics, 200608)We report results from economic experiments that provide a direct test of the hypothesis that criminal behavior responds rationally to changes in the possible rewards and in the probability and severity of punishment. ... 
Fix your attitude: Labormarket consequences of poor attitude and low selfesteem in youth
(University of Oregon, Dept of Economics, 200309)Using longitudinal data on a cohort of highschool graduates, I show that individuals who reveal poor attitudes and low selfesteem as highschool students attain fewer years of postsecondary education relative to their ...