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Articles 1 - 4 of 4
Full-Text Articles in Social and Behavioral Sciences
An Overlapping-Generations Model Of Firm Heterogeneity In Economic Development, Yu Chen, Haiwen Zhou
An Overlapping-Generations Model Of Firm Heterogeneity In Economic Development, Yu Chen, Haiwen Zhou
Economics Faculty Publications
We study firm heterogeneity in economic development in an overlapping-generations general equilibrium model in which manufacturing firms engage in oligopolistic competition. Individuals differ in their productivities in the manufacturing sector and choose to become entrepreneurs or workers. The model is surprisingly tractable. In the steady state, an increase in the entry barrier in the manufacturing sector or an increase in the percentage of income spent on the agricultural good decreases the wage rate, but the level of output in the manufacturing sector does not necessarily decrease. An increase in the degree of patience of an individual increases the steady state …
How Do The Trans-Pacific Economies Affect The Usa? An Industrial Sector Approach, Takeshi Yagihashi, David D. Selover
How Do The Trans-Pacific Economies Affect The Usa? An Industrial Sector Approach, Takeshi Yagihashi, David D. Selover
Economics Faculty Publications
This paper studies how the Trans-Pacific region affects the US economy in terms of business cycle transmission. We use a large data set consisting of disaggregated sectoral industrial production indexes from selected countries in the region and employ a factor-augmented vector autoregression (FAVAR) approach to analyze the transmission of shocks in different industries. We find that a positive output shock in the entire Trans-Pacific region has positive effects on the majority of US manufacturing sectors. We also find that sectoral shocks in five sectors of the Trans-Pacific region have a large impact on the overall US economy. Three of the …
The Long Term Effects Of An Aging Fleet On Operational Availability And Cost: Evidence From The Us Coast Guard, Christopher W. Lavin, Robert M. Mcnab, Ryan S. Sullivan
The Long Term Effects Of An Aging Fleet On Operational Availability And Cost: Evidence From The Us Coast Guard, Christopher W. Lavin, Robert M. Mcnab, Ryan S. Sullivan
Economics Faculty Publications
This paper empirically examines whether the aging of a fleet affects operational availability and operating cost using a unique data-set on the 117 47-foot Motor Lifeboats (MLBs) of the United States Coast Guard (USCG). Procured from 1997 to 2003, the 47-foot MLB is the standard lifeboat of the USCG and all 117 MLBs remain in service. The aging of the MLB fleet has resulted in higher annual operating costs and lower operational availability, although the nature of this relationship remains unclear. Our estimation strategy utilizes an error components estimator to examine these issues. We employ three variants of the dependent …
Health Capital Investment And Time Spent On Health Related Activities, Juan Du, Takeshi Yagihashi
Health Capital Investment And Time Spent On Health Related Activities, Juan Du, Takeshi Yagihashi
Economics Faculty Publications
One key component in the health capital investment model in (Grossman, M. Journal of Political Economy, 80: 223–255, 1972) is time spent on improving health. However, few empirical studies have examined how time spent on health investment is determined. In this paper, we fill this void in the literature by investigating how people allocate their time for different types of health-related activities in response to economic variables. Using the American Time Use Survey, we distinguish health-enhancing and health-deteriorating leisure activities, with the rationale that these activities may respond differently to socioeconomic environment. We find that health-enhancing and health-deteriorating time respond …