Now showing items 102-121 of 159

    • Near-Rational Exuberance 

      Bullard, James; Evans, George W., 1949-; Honkapohja, Seppo, 1951- (University of Oregon, Dept of Economics, 2005-09-17)
      We study how the use of judgement or "add-factors" in macroeconomic forecasting may disturb the set of equilibrium outcomes when agents learn using recursive methods. We isolate conditions under which new phenomena, which ...
    • Networking and Foreign Direct Investment Activity 

      Blonigen, Bruce A. (Bruce Aloysius); Wooster, Rossitza B. (Rossitza Bouneva), 1971- (University of Oregon, Dept. of Economics, 2002-09-01)
      We conduct an empirical investigation into whether networking effects affect foreign direct investment (FDI) activity. Using bibliographical information on CEOs’ birth and education locations, we are able to identify changes ...
    • The OECD Model Tax Treaty: Tax Competition and Two-Way Capital 

      Davies, Ronald B. (University of Oregon, Dept. of Economics, 2002-01-01)
      Model tax treaties do not require tax rate coordination, but do call for either credits or exemptions when calculating a multinational’s domestic taxes. This contradicts recent models with a single capital exporter where ...
    • On Asymmetric Business Cycles and the Effectiveness of Counter-Cyclical Fiscal Policies 

      Magud, Nicolas (University of Oregon, Dept of Economics, 2005-05)
      In the presence of informational frictions and uncertainty, an investment model is developed to capture the asymmetric dynamics of business cycles. When affected by a negative shock, the economy responds differently than ...
    • On Bounded Dominance Criteria 

      Ooghe, Erwin; Lambert, Peter J. (University of Oregon, Dept of Economics, 2005-04-26)
      A well-known criterion to make heterogeneous welfare comparisons is Atkinson and Bourguignon’s (1987) sequential generalized Lorenz dominance (SGLD) criterion. Recently, Fleurbaey, Hagneré and Trannoy (2003) convincingly ...
    • Optimal Constrained Interest-rate Rules 

      Evans, George W., 1949-; McGough, Bruce (University of Oregon, Dept of Economics, 2005-05-19)
      We show that if policy-makers compute the optimal unconstrained interest-rate rule within a Taylor-type class, they may be led to rules that generate indeterminacy and/or instability under learning. This problem is compounded ...
    • Policy Interaction, Expectations and the Liquidity Trap 

      Evans, George W., 1949-; Honkapohja, Seppo, 1951- (University of Oregon, Dept. of Economics, 2003-04-30)
      We consider inflation and government debt dynamics when monetary policy employs a global interest rate rule and private agents forecast using adaptive learning. Because of the zero lower bound on interest rates, active ...
    • Policy Interaction, Learning and the Fiscal Theory of Prices 

      Evans, George W., 1949-; Honkapohja, Seppo, 1951- (University of Oregon, Dept. of Economics, 2002-08-03)
      We investigate both the rational explosive inflation paths studied by (McCallum 2001), and the classification of fiscal and monetary polices proposed by (Leeper 1991), for stability under learning of the rational expectations ...
    • Population Aging, Foreign Direct Investment, and Tax Competition 

      Davies, Ronald B.; Reed, Robert R. (Robert Ray), 1970- (University of Oregon, Dept of Economics, 2006-05-25)
      This paper studies the role of population aging for foreign direct investment and the strategic taxation of capital. Importantly, our theoretical model suggests that the labor market implications of aging differ from the ...
    • Privatizing the Commons and Economic Degradation 

      Ellis, Christopher J.; Birdyshaw, Edward Leon, 1969- (University of Oregon, Dept of Economics, 2005-05-01)
      We develop a dynamic model of the exploitation of an environmental resource with endogenous property rights. We are able to explain both the evolution of property rights and environmental quality. In some circumstances the ...
    • Prospect Theory in Choice and Pricing Tasks 

      Harbaugh, William; Krause, Kate; Vesterlund, Lise (University of Oregon, Dept. of Economics, 2002-07-20)
      The most distinctive prediction of prospect theory is the fourfold pattern (FFP) of risk attitudes. People are said to be (1) risk-seeking over low-probability gains, (2) risk-averse over low-probability losses, (3) ...
    • Race Differences in Cohort Effects on Nonmarital Fertility in the United States 

      Stone, Joe A. (Joe Allan), 1948-; Gray, Jo Anna; Stockard, Jean; O'Brien, Robert (University of Oregon, Dept of Economics, 2008-01)
      We employ newly developed methods to disentangle age, period and cohort effects on nonmarital fertility ratios (NFRs) from 1972 to 2002 for black and white women aged 20-44 in the United States. We focus on three cohort ...
    • Ranking State Fiscal Structures using Theory and Evidence 

      Bania, Neil; Stone, Joe A. (Joe Allan), 1948- (University of Oregon, Dept of Economics, 2007-06)
      This paper offers unique rankings of the extent to which fiscal structures of U.S. states contribute to economic growth. The rankings are novel in two key respects: they are well grounded in established growth theory, ...
    • Redistribution, horizontal inequity and reranking: how to measure them properly 

      Urban, Ivica; Lambert, Peter J. (University of Oregon, Dept of Economics, 2005-07-01)
      The decomposition of the redistributive effect of an income tax into vertical, horizontal and reranking contributions according to the model of Aronson, Johnson and Lambert (1994), henceforth AJL, is revisited. When close ...
    • Redistributive Effect of U.S. Taxes and Public Transfers, 1994-2004 

      Lambert, Peter J.; Kim, Kinam, 1970- (University of Oregon, Dept of Economics, 2007-02-06)
      In this study we derive measures of the redistributive effect of taxes and welfare expenditures for the U.S. using CPS data for the years 1994, 1999 and 2004. We find that whilst income inequality increased, the redistributive ...
    • Representations and Sunspot Stability 

      Evans, George W., 1949-; McGough, Bruce (University of Oregon, Dept of Economics, 2007-01-01)
      By endowing his agents with simple forecasting models, or representations, Woodford (1990) found that finite state Markov sunspot equilibria may be stable under learning. We show that common factor representations ...
    • Revisiting the Evidence on Trade Policy Preferences 

      Blonigen, Bruce A. (Bruce Aloysius) (University of Oregon, Dept of Economics, 2010-11)
      Past literature has found evidence that labor market attributes affect individuals’ trade policy preferences in a manner consistent with theories of international trade. This paper shows that, with the exception of ...
    • Ricardian Equivalence for Sub-national States 

      Gray, Jo Anna; Stone, Joe A. (Joe Allan), 1948- (University of Oregon, Dept of Economics, 2005-12-12)
      The authors test Ricardian equivalence within an endogenous growth model for U.S. states, which have high rates of migration relative to most countries. Results are consistent with both Ricardian equivalence and endogenous ...
    • The rising share of nonmarital births: A response to Ermisch, Martin, and Wu 

      Stone, Joe A. (Joe Allan), 1948-; Stockard, Jean; Gray, Jo Anna (University of Oregon, Dept of Economics, 2008-09)
      In a 2006 article in Demography, Jo Anna Gray, Jean Stockard and Joe Stone (GSSi)observe that among black women and white women ages 20 to 39, birth rates increased sharply for unmarried women over the period 1974 to ...
    • The rising share of nonmarital births: A response to Ermisch, Martin, and Wu 

      Gray, Jo Anna; Stockard, Jean; Stone, Joe A. (Joe Allan), 1948- (University of Oregon, Dept of Economics, 2008-09)