Economic Inquiry

Articles from Vol. 56, No. 1, January

Big Data and Big Cities: The Promises and Limitations of Improved Measures of Urban Life
I. INTRODUCTION Historically, most research on urban areas has relied on coarse aggregate statistics and smaller-scale surveys. Over the past decade, however, digitization of records, expansion of sensor networks, and the computerization of society...
Entertaining Malthus: Bread, Circuses, and Economic Growth
I. INTRODUCTION A traditional view of historical economic growth is that prior to the Industrial Revolution there was very little change in per capita consumption. (1) This characterization is based largely on data from many studies summarized and...
European Central Bank Footprints on Inflation Forecast Uncertainty
I. INTRODUCTION One of the principal arguments for how the European Monetary Union can be economically effective in the allocative sense was made in 2005 in the speech by Ottmar Issing, then Chief Economist of the European Central Bank (ECB), at...
Fiscal Rules and Government Borrowing Costs: International Evidence
I. INTRODUCTION Numerical fiscal rules have been a popular addition to fiscal frameworks since the early 1990s. (1) In this paper, we examine whether the adoption of such rules has had a beneficial impact on government borrowing costs in international...
Integrated Household Surveys: An Assessment of U.S. Methods and an Innovation
I. INTRODUCTION During recent decades, interest in the study of household finance has grown rapidly. Campbell (2006) first advanced the case for treating household finance as a distinct field of study in economics. The global financial crisis of...
Introduction to Symposium on "Engineering Data on Individual and Family Decisions over the Life Cycle"
New approaches to social scientific research will develop in coming decades as measurement technology, computational power, and data availability grow exponentially. This has the potential to vastly improve our understanding of human behavior and its...
Latin America's Declining Skill Premium: A Macroeconomic Analysis
I. INTRODUCTION At least since the first half of the twentieth century, Latin America has been the most unequal region in the world (Williamson 2010). It is well known, however, that income inequality declined substantially within most countries...
Measuring and Modeling Intergenerational Links in Relation to Long-Term Care
I. INTRODUCTION Long-term care (LTC) has profound intergenerational implications. It can be very costly for those who need it, as well as onerous for loved ones who participate in its provision. These are among the many intergenerational aspects...
Measuring Consumer Expenditures with Payment Diaries
I. INTRODUCTION Obtaining the best possible estimates of consumer expenditures is crucial to proper construction of consumption data and applied economic research on consumer behavior. Measuring consumer expenditures well is complex and difficult,...
Measuring the World Natural Rate of Interest
I. INTRODUCTION The natural rate of interest--also sometimes referred as a neutral or real equilibrium rate of interest--is commonly defined as the real short-term rate of interest consistent with stable inflation and output equal to potential....
New Facts about Firm Risk across Countries and over the Business Cycle
I. INTRODUCTION Firm-level risk is shown to be countercyclical in the case of the United States. This fact is at the very basis of a new stream in macroeconomics, where uncertainty and the business cycle are negatively correlated. (1) Despite the...
On the Optimal Realignment of a Contest: The Case of College Football
I. THE QUESTION The production of team sports involves a form of matching. In most professional leagues the membership is fixed and there is no choice in the selection of matches (the most common format of a league is a round robin where every team...
Optimal Employee Ownership Contracts under Ambiguity Aversion
I. INTRODUCTION Employee stock ownership is when employees own shares of the company for whom they work. Employee ownership is a major part of shared capitalism, with 14 million employee owners in the United States in 2014. (1) Shared capitalism...
Prices, Inflation, and Smoking Onset: The Case of Argentina
I. INTRODUCTION Tobacco use causes more than 6 million deaths per year worldwide, a number that is expected to rise to more than 8 million by 2030. The majority of these deaths will occur in low- and middle-income countries (LMIC) where 80% of the...
Survey Measures of Family Decision Processes for Econometric Analysis of Schooling Decisions
I. INTRODUCTION "School choice" has evolved dramatically over the past couple of decades, in (at least) two major dimensions: the increased variety and number of schooling alternatives that have become available to American families, and the increasingly...
The Effects of Education on Fertility: Evidence from Taiwan
I. INTRODUCTION It is well acknowledged that education has positive effects on social and economic outcomes, and these effects are important concerns to policy-makers and social scientists. Economists have been interested in the effect of education...
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