Open Access. Powered by Scholars. Published by Universities.®
- Discipline
- Keyword
-
- F30 - International Finance: General (4)
- F10 - Trade: General (3)
- Q24 - Renewable Resources and Conservation: Land (3)
- Q57 - Ecological Economics: Ecosystem Services; Biodiversity Conservation; Industrial Ecology (3)
- Exchange rate (2)
-
- J20 - Demand and Supply of Labor: General (2)
- Public transportation (2)
- Reciprocity (2)
- Adaptation (1)
- Agricultural inputs (1)
- Agriculture (1)
- Asymmetric exchange-rate pass-through (1)
- Asymmetric information (1)
- Auctions (1)
- B00 - History of Economic Thought, Methodology, and Heterodox Approaches (1)
- B19 - History of Economic Thought through 1925: Other (1)
- B31 - History of Economic Thought: Individuals (1)
- Big data (1)
- Brazil (1)
- C01 - Econometrics (1)
- C21 - Single Equation Models; Single Variables: Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions (1)
- C24 - Single Equation Models; Single Variables: Truncated and Censored Models; Switching Regression Models (1)
- C26 - Single Equation Models: Single Variables: Instrumental Variables (IV) Estimation (1)
- C34 - Multiple or Simultaneous Equation Models: Truncated and Censored Models; Switching Regression Models (1)
- Charles P. Kindleberger (1)
- Chinese SMEs (1)
- Climate change (1)
- Colombia (1)
- Commuting (1)
- Condy Raguet (1)
Articles 1 - 18 of 18
Full-Text Articles in Entire DC Network
The H.C. Carey School Of U.S. Currency Doctors: A "Subtle Principle" And Its Progeny, Stephen Meardon
The H.C. Carey School Of U.S. Currency Doctors: A "Subtle Principle" And Its Progeny, Stephen Meardon
Economics Department Working Paper Series
Henry C. Carey led a school of post-Civil War U.S. currency doctors prescribing an “elastic currency,” expanding and contracting according to commercial needs. The problem for the Careyites was reconciling elasticity, which implied inconvertibility with gold, with the related aim of decentralized financial power. Careyite currency doctors included, among others, Wallace P. Groom, editor of the New York Mercantile Journal, and Henry Carey Baird, Carey’s own nephew and inheritor of his mantle. Their prescribed reform of the banking system featured a financial innovation that would remove superfluous currency from circulation while supplying what was needed. The innovation was an …
Estimating The Impact Of Critical Habitat Designation On The Values Of Developed And Undeveloped Parcels (2nd Version, Current As Of 7/29/2022), Saleh Mamun, Erik Nelson, Christoph Nolte
Estimating The Impact Of Critical Habitat Designation On The Values Of Developed And Undeveloped Parcels (2nd Version, Current As Of 7/29/2022), Saleh Mamun, Erik Nelson, Christoph Nolte
Economics Department Working Paper Series
We use differences-in-differences (DD) estimators to measure the impact that Endangered Species Act (ESA)’s Critical Habitat (CH) rule had on developed and undeveloped parcel prices throughout the US between 2000 and 2019. In a national-level analysis we found that, on average, the price of parcels “treated” with CH were not statistically different than the prices of nearby parcels in listed species range space but not “treated” by CH. CH’s null impact on developed parcel prices is surprising given homeowner’s documented willingness to pay for property surrounded by protected open space. CH’s null impact on undeveloped parcel prices is surprising as …
Using 'Big Data' To Explain Visits To Lakes In 17 Us States, Erik Nelson, Maggie Rogers, Spencer Wood, Jesse Chung, Bonnie Keeler
Using 'Big Data' To Explain Visits To Lakes In 17 Us States, Erik Nelson, Maggie Rogers, Spencer Wood, Jesse Chung, Bonnie Keeler
Economics Department Working Paper Series
We use large dataset on US lakes from 17 states to estimate the relationship between summertime visits to lakes as proxied by social media use and the lakes' water quality, amenities, and surrounding landscape features and socioeconomic conditions. Prior to estimating these relationships we worked on 1) selecting a parsimonious set of explanatory variables from a roster of more than 100 lake attributes and 2) accounting for the non-random pattern of missing water quality data. These steps 1) improved the interpretability of the estimated visit models and 2) widened our estimated models' scope of statistical inference. We used Machine Learning …
Where Do The Poor Live In Cities? Revisiting The Role Of Public Transportation On Income Sorting In Us Urban Areas, Erik Nelson
Where Do The Poor Live In Cities? Revisiting The Role Of Public Transportation On Income Sorting In Us Urban Areas, Erik Nelson
Economics Department Working Paper Series
Glaeser et al. (2008) argue that the relative distribution of poor and rich households (HHs) in American cities is "strongly" explained by the spatial location of the cities' public transportation (PT) networks. Among their claims: 1) The broad distribution of poor and rich HHs in the typical American city is consistent with a basic monocentric city model that includes commute technology speeds; 2) Poor commuters will overwhelmingly transition from commuting by PT to car if they experience a substantial increase in their HH’s income; 3) areas in American cities that receive new PT infrastructure become poorer over time. Using 2017 …
Us Household Demand For Organic Fruit, Erik Nelson, John M. Fitzgerald, Nathan Tefft, John L. Anderson
Us Household Demand For Organic Fruit, Erik Nelson, John M. Fitzgerald, Nathan Tefft, John L. Anderson
Economics Department Working Paper Series
We estimate US household monthly elasticities of demand for some of the more popular organic fruits. To our knowledge, this is the first US-wide, multi-year analysis of price and income elasticities for various organic fruits. We calculate elasticities of demand for low-income, middle class, and rich income bracket households using three estimation techniques: two econometric methods and one machine learning method (least absolute shrinkage and selection operator (LASSO)). Demand estimates are based on Nielsen scanner data from approximately 60,000 households collected from 2011 to 2013. Generally, we find that own-price conditional and unconditional elasticities of demand for organic fruits are …
The Impact Of Ride-Hailing Services On Public Transportation Use: A Discontinuity Regression Analysis, Nicole Sadowsky, Erik Nelson
The Impact Of Ride-Hailing Services On Public Transportation Use: A Discontinuity Regression Analysis, Nicole Sadowsky, Erik Nelson
Economics Department Working Paper Series
Since 2011, the private ride-hailing companies Uber and Lyft have expanded into more and more US cities. We use regression discontinuity design to examine the impact of Uber and Lyft’s entry on public transportation use in the US’ largest urban areas. In most cases, entry into cities by the two ride-hailing companies was staggered: Uber entered first followed some months later by Lyft. We find that public transportation use increased in an urban area, all else equal, immediately following the first entry. However, we find that the spike in public transportation use after first entry disappeared following the entry of …
Measuring The Relative Importance Of Different Agricultural Inputs To Global And Regional Crop Yield Growth Since 1975, Erik Nelson, Clare Bates Congdon
Measuring The Relative Importance Of Different Agricultural Inputs To Global And Regional Crop Yield Growth Since 1975, Erik Nelson, Clare Bates Congdon
Economics Department Working Paper Series
We identify the agricultural inputs that drove the growth in global and regional crop yields from 1975 to the mid-2000s. We find that improvements in agricultural technology, increased fertilizer use, and changes in crop mix around the world explained most of the gain in global crop yields, although impacts varied across the latitude gradient. Climate change over this time period caused yields to be only slightly lower than they would have been otherwise. In some cases cropland extensification had as much of a negative impact on global and regional yields as climate change. To maintain the momentum in yield growth …
Identifying The Opportunity Cost Of Critical Habitat Designation Under The U.S. Endangered Species Act, Erik Nelson, John C. Withey, Derric Pennington, Joshua J. Lawler
Identifying The Opportunity Cost Of Critical Habitat Designation Under The U.S. Endangered Species Act, Erik Nelson, John C. Withey, Derric Pennington, Joshua J. Lawler
Economics Department Working Paper Series
We determine the effect of the US Endangered Species Act’s Critical Habitat designation on land use change from 1992 to 2011. We find that the rate of change in developed land (constructed material) and agricultural land is not significantly affected by Critical Habitat designation. Therefore, Sections 7 and 9 of the Endangered Species Act do not appear to be more heavily applied in lands designated as Critical Habitat areas versus lands within listed species’ ranges, but without critical habitat designation. Further, there does not appear to be any extraordinary conservation activity in critical habitat areas; for example, environmental non-profits and …
Exchange Rate Regimes And Nominal Wage Comovements In A Dynamic Ricardian Model, Yao Tang, Yoshinori Kurokawa, Jiaren Pang
Exchange Rate Regimes And Nominal Wage Comovements In A Dynamic Ricardian Model, Yao Tang, Yoshinori Kurokawa, Jiaren Pang
Economics Department Working Paper Series
We construct a dynamic Ricardian model of trade with money and nominal exchange rate. The model implies that the nominal wages of the trading countries are more likely to exhibit stronger positive comovements when the countries fix their bilateral exchange rates. Panel regression results based on data from OECD countries from 1973 to 2012 suggest that countries in the European Monetary Union (EMU) experienced stronger positive wage comovements with their main trade partners. When we restrict the regression to the subsample of the EMU countries, we find a significant increase in wage comovements after these countries joined the EMU in …
The (Far) Backstory Of The U.S.-Colombia Free Trade Agreement, Stephen Meardon
The (Far) Backstory Of The U.S.-Colombia Free Trade Agreement, Stephen Meardon
Economics Department Working Paper Series
In two pairs of episodes, first in 1824 and 1846 and then in 1892 and 1935, similar U.S.-Colombia trade agreements or their enabling laws were embraced first by protectionists and then by free traders. The history of the episodes supports the view that although political institutions exist to curb de facto political power, such power may be wielded to undo the institutions’ intended effects. The doctrinal affinities and interests of political actors are more decisive determinants of the free-trade or protectionist orientation of trade agreements than the agreements’ texts or legal superstructures. The long delay from signing to passage of …
On Kindleberger And Hegemony: From Berlin To M.I.T. And Back, Stephen Meardon
On Kindleberger And Hegemony: From Berlin To M.I.T. And Back, Stephen Meardon
Economics Department Working Paper Series
The most notable idea of Charles P. Kindleberger’s later career is the value of a single country acting as stabilizer of an international economy prone to instability. It runs through his widely read books, The World in Depression, 1929-1939 (1973), Manias, Crises, and Panics (1978), A Financial History of Western Europe (1984), and kindred works. “Hegemonic stability,” the idea is called in the literature it inspired. This essay traces Kindleberger’s attachment to the idea back to his tenure as chief of the State Department’s Division of German and Austrian Economic Affairs from 1945 to 1947 and adviser to the …
Implementing The Optimal Provision Of Ecosystem Services, Stephen Polasky, David Lewis, Andrew Plantinga, Erik Nelson
Implementing The Optimal Provision Of Ecosystem Services, Stephen Polasky, David Lewis, Andrew Plantinga, Erik Nelson
Economics Department Working Paper Series
Many ecosystem services are public goods whose provision depends on the spatial pattern of land use. The pattern of land use is often determined by the decisions of multiple private landowners. Increasing the provision of ecosystem services, while beneficial for society as a whole, may be costly to private landowners. A regulator interested in providing incentives to landowners for increased provision of ecosystem services often lacks complete information on landowners’ costs. The combination of spatially-dependent benefits and asymmetric cost information means that the optimal provision of ecosystem services cannot be achieved using standard regulatory or payment for ecosystem services (PES) …
The Effects Of Exchange Rates On Employment In Canada, Yao Tang, Haifang Huang, Ke Pang
The Effects Of Exchange Rates On Employment In Canada, Yao Tang, Haifang Huang, Ke Pang
Economics Department Working Paper Series
Under the flexible exchange rate regime, the Canadian economy is constantly affected by fluctuations in exchange rates. This paper focuses on employment in Canada. We find that appreciations of the Canadian dollar have significant effects on employment in manufacturing industries; such effects are mostly associated with the export-weighted exchange rate and not the import-weighted exchange rate. The export-weighted exchange rate elasticity of employment is -0.52. However, we also find that exchange rate fluctuations have little impact on Canada’s nonmanufacturing employment. Because the manufacturing sector accounts for only about 10% of the employment in Canada, the overall employment effect of exchange …
How Did Exchange Rates Affect Employment In Us Cities?, Yao Tang, Haifang Huang
How Did Exchange Rates Affect Employment In Us Cities?, Yao Tang, Haifang Huang
Economics Department Working Paper Series
We estimate the effects of real exchange rate movements on employment in US cities between 2003 and 2010. We explore the differences in the composition of local industries to construct city-specific changes in exchange rates and estimate their effects on local employment in manufacturing industries and in nonmanufacturing industries. Controlling for year and city fixed effects, we find that a depreciation of the US dollar increased local employment in the manufacturing industries, our proxy for the tradable sector. The depreciation also increased employment in the nonmanufacturing industries, the nontradable sector. Furthermore, the effects on nonmanufacturing employment were stronger in cities …
The Effects Of Corporate Governance On The Innovation Performance Of Chinese Smes, Yao Tang, Daniel Shapiro, Miaojun Wang, Weiying Zhang
The Effects Of Corporate Governance On The Innovation Performance Of Chinese Smes, Yao Tang, Daniel Shapiro, Miaojun Wang, Weiying Zhang
Economics Department Working Paper Series
We investigate the degree to which corporate governance and ownership affects the innovation performance of firms in China with a particular focus on privately owned small and medium enterprises (SMEs). We hypothesize that (1) board-related governance measures will enhance innovation because they improve monitoring and provide access to necessary resources; (2) ownership concentration initially facilitates innovation because large shareholders are more likely to commit to the long-term nature of innovation, and have the incentive to monitor managers whose time horizon may be shorter; however we argue that these effects weaken as large shareholders becomes entrenched at higher levels of concentration; …
Vertical Trade, Exchange Rate Pass-Through, And Exchange Rate Regime, Yao Tang, Ke Pang
Vertical Trade, Exchange Rate Pass-Through, And Exchange Rate Regime, Yao Tang, Ke Pang
Economics Department Working Paper Series
We compare the welfare of different combinations of monetary and currency policies in an open-economy macroeconomic model that incorporates two important features of many small economies: a high level of vertical international trade and a prevalent use of a large trade partner's currency as the invoicing currency for both imports and exports. In this environment, a small economy prefers a fixed exchange rate regime over a flexible regime, while the larger economy prefers a flexible exchange rate regime. There are two main causes underlying our results. First, in the presence of sticky prices, relative prices adjust through changes in the …
The Free-Trade Doctrine And Commercial Diplomacy Of Condy Raguet, Stephen Meardon
The Free-Trade Doctrine And Commercial Diplomacy Of Condy Raguet, Stephen Meardon
Economics Department Working Paper Series
Condy Raguet (1784-1842) was the first Chargé d’Affaires from the United States to Brazil and a conspicuous author of political economy from the 1820s to the early 1840s. He contributed to the era’s free-trade doctrine as editor of influential periodicals, most notably The Banner of the Constitution. Before leading the free-trade cause, however, he was poised to negotiate a reciprocity treaty between the United States and Brazil, acting under the authority of Secretary of State and protectionist apostle Henry Clay. Raguet’s career and ideas provide a window into the uncertain relationship of reciprocity to the cause of free trade.
Does Productivity Respond To Exchange Rate Appreciations? A Theoretical And Empirical Investigation, Yao Tang
Does Productivity Respond To Exchange Rate Appreciations? A Theoretical And Empirical Investigation, Yao Tang
Economics Department Working Paper Series
Although real currency appreciations pose direct difficulties for exporters and import-competing firms as they will face more intense competition, is it possible that such competition spurs firms to improve productivity? To answer this question, the paper first constructs a theoretical model to show how the competitive pressures of currency appreciations induce firms to improve productivity by adopting new technologies. In addition, the model predicts that during appreciations there will be a positive relation between market concentration and improvements in productivity for industries highly exposed to trade, because the marginal benefits of productivity improvement will be bigger for firms with a …