Browsing FAS Scholarly Articles by FAS Department "Economics"
Now showing items 61-80 of 1133
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A Brief History of Education in the United States
(American Economic Association, 1999)This essay is the companion piece to about 550 individual data series on education to be included in the updated Historical Statistics of the United States, Millennial Edition (Cambridge University Press 2000, forthcoming). ... -
Budget Institutions and Fiscal Performance in Latin America
(Elsevier Science B.V., 1999)In this paper, we collect detailed information on the budget institutions of Latin American countries. We classify these institutions on a "hierarchical"/"collegial" scale, as a function of the existence of constraints on ... -
Bureaucrats or Politicians? Part I: A Single Policy Task
(American Economic Association, 2007-03-01)This paper investigates the normative criteria that guide the allocation of a policy task to an elected politician versus an independent bureaucrat. The bureaucrat is preferable for technical tasks for which ability is ... -
By Force of Habit: A Consumption-Based Explanation of Aggregate Stock Market Behavior
(University of Chicago Press, 1999)We present a consumption‐based model that explains a wide variety of dynamic asset pricing phenomena, including the procyclical variation of stock prices, the long‐horizon predictability of excess stock returns, and the ... -
Can Exchange Rates Forecast Commodity Prices?
(Oxford University Press (OUP), 2010)We show that "commodity currency" exchange rates have remarkably robust power in predicting global commodity prices, both in-sample and out-of-sample, and against a variety of alternative benchmarks. This result is of ... -
Can Negotiating a Uniform Carbon Price Help to Internalize the Global Warming Externality?
(University of Chicago Press, 2014)It is difficult to resolve the global warming free-rider externality problem by negotiating n different quantity targets. By contrast, negotiating a single internationally binding minimum carbon price (the proceeds from ... -
Can Online Learning Bend the Higher Education Cost Curve?
(American Economic Association, 2015)We examine whether online learning technologies have led to lower prices in higher education. Using data from the Integrated Postsecondary Education Data System, we show that online education is concentrated in large ... -
Can State Taxes Redistribute Income?
(Elsevier Science B.V., Amsterdam, 1994)The evidence presented in this paper supports the basic theoretical presumption that state and local governments cannot redistribute income. Since individuals can avoid unfavorable taxes by migrating to jurisdictions that ... -
Capital Flows, Consumption Booms and Asset Bubbles: A Behavioural Alternative to the Savings Glut Hypothesis
(Royal Economic Society (Great Britain), 2010)Bernanke (2005) hypothesized that a “global savings glut” was causing large trade imbalances. However, we show that the global savings rates did not show a robust upward trend during the relevant period. Moreover, if there ... -
Capitalism Beyond the Crisis
(A. W. Ellsworth, 2009) -
Capping Individual Tax Expenditure Benefits
(National Bureau of Economic Research, 2011)This paper analyzes a new way of reducing the major individual tax expenditures: capping the total amount that tax expenditures as a whole can reduce each individual's tax burden. More specifically, we examine the effect ... -
Carbon Taxes, Path Dependency, and Directed Technical Change: Evidence from the Auto Industry
(University of Chicago Press, 2016)Can directed technical change be used to combat climate change? We construct new firm-level panel data on auto industry innovation distinguishing between "dirty" (internal combustion engine) and "clean" (e.g. electric and ... -
The Case Against the Fiscal Stimulus
(Harvard University, Harvard Law School, 2010) -
Caught on Tape: Institutional Trading, Stock Returns, and Earnings Announcements
(Elsevier, 2009)Many questions about institutional trading can only be answered if one tracks high-frequency changes in institutional ownership. In the United States, however, institutions are only required to report behavior from the ... -
The Causal Effect of Market Priming on Trust: An Experimental Investigation Using Randomized Control
(Public Library of Science, 2013)We report data from laboratory experiments where participants were primed using phrases related to markets and trade. Participants then participated in trust games with anonymous strangers. The decisions of primed participants ... -
The Causal Effects of Competition on Innovation: Experimental Evidence
(National Bureau of Economic Research Inc, 2014)In this paper, we design two laboratory experiments to analyze the causal effects of competition on step-by-step innovation. Innovations result from costly R&D investments and move technology up one step. Competition is ... -
Changes in the Incidence and Duration of Periods Without Insurance
(Massachusetts Medical Society, 2009)BACKGROUND: Policymakers have recently proposed ways of providing health care coverage for an increased number of uninsured persons. However, there are few data that show how the incidence and duration of periods in which ... -
The Changing Role of Nominal Government Bonds in Asset Allocation
(Palgrave Macmillan, 2009)The covariance between nominal bonds and stocks has varied considerably over recent decades and has even switched sign. It has been predominantly positive in periods such as the late 1970s and early 1980s when the economy ... -
Charity Care, Risk Pooling, and the Decline in Private Health Insurance
(American Economic Association, 2005)