Jointly Evaluating GDP and Inflation Forecasts in the Context of the Taylor Rule
Individuals, businesses, and government policymakers use economic forecasts as guides to many important economic and financial decisions. Thus, it is.......
Working Papers
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Lazy Banks? Government Borrowing and Private Credit: Evidence from Developing Countries
When government borrows one dollar from domestic banking sector, how much does it reduce private credit in developing countries? There is surprisingly no.....
The Matching of Heterogeneous Firms and Politicians
We use a unique Chinese rm-director panel dataset and a simple assignment model to examine the matching mechanism of heterogeneous rms and politicians. Based on....
Governments provide public information about economic conditions to reduce information imperfections and facilitate efficient allocation of resources. Do.....
Third-Country Effects in Multinational Production Networks
The majority of multinational rms today operate a multilateral production network. Most existing empirical analyses have, however, focused on rms choice between.....
Location Decision of Heterogeneous Multinational Firms
In this paper we examine how multinational firms with varied levels of total factor productivity (TFP) self-select into di¤erent host countries..........
Coping with Rising Food Prices: Policy Dilemmas in the Developing World
This paper examines the policy dilemmas and challenges faced by developing country governments when confronted with rising food prices, especially when it comes..................
Financial Liberalization, Financial Restraint and Entrepreneurial Development
This paper argues that there is a fundamental con°ict between ¯nancial liberalization and pri- vate sector led development strategy in developing countries.....
Bootstrap Test for Stationarity
In order for predictive regression tests to deliver asymptotically valid inference, account has to be taken of the degree of persistence of the predictors under......
Why Don’t Foreign Firms Cooperate in U.S. Antidumping Investigations?: An Empirical Analysis
Foreign firms face punitive duties if they do not cooperate with the US Department of Commerce (DOC) in antidumping procedures. For example, 37% of all foreign....
This paper presents evidence on intergenerational occupational mobility from agriculture to the nonfarm sector using survey data from Nepal with a focus on the....
The Extent of the Market and Stages of Agricultural Specialization
This paper provides empirical evidence of an U-shaped relationship between the extent of the market (size of the relevant urban market) and the pattern of....
Due to the unavailability of time series data on domestic market clearing price of imports, the estimation of notional price and income elasticities of aggregate...
Trade and the Hill: What to Expect Post-Election
Eric Euland – The Duberstein Group; former chief of staff to Senate Majority Leader Bill Frist (R., Tennessee)....
Regionalism in Standards: Good or Bad for Trade?
Regional agreements on standards have been largely ignored by economists and blessed by multilateral trade rules. Using a constructed panel data that identies.....
Trade Liberalization and Antidumping: Is There a Substitution Effect?
Many nations have undergone significant trade liberalization in the last twenty years even as they have increased their use of contingent protection measures.....
Herd Behavior in Financial Markets: An Experiment with Financial Market Professionals
We study herd behavior in a laboratory financial market with financial market professionals. An important novelty of the experimental design is the use of a ...
Output Fluctuations in the G-7: An Unobserved Components Approach
This paper proposes a multivariate unobserved-components model to simultaneously decompose the real GDP for each of the G-7 countries into its respective trend.....
Regional Economic Integration and Geographic Concentration of Multinational Firms
A number of theoretical studies have predicted that preferential trade agreements (PTAs) raise outside multinationalsincentive to invest.....
Investing in Health: The Long-Term Impact of Head Start on Smoking
Head Start is a comprehensive, early childhood development program designed to augment the human capital and health capital levels of disadvantaged children......
Does Antidumping Use Contribute to Trade Liberalization in Developing Countries?
Some supporters of antidumping have argued that this procedure serves as a kind of “safety valve” for protectionist pressure. In this paper, we investigate....