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Social and Behavioral Sciences Commons™
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Articles 1 - 7 of 7
Full-Text Articles in Social and Behavioral Sciences
Vertex Centralities In Input-Output Networks Reveal The Structure Of Modern Economies, Florian Blochl, Fabian J. Theis, Fernando Vega-Redondo, Eric O'N. Fisher
Vertex Centralities In Input-Output Networks Reveal The Structure Of Modern Economies, Florian Blochl, Fabian J. Theis, Fernando Vega-Redondo, Eric O'N. Fisher
Economics
Input-output tables describe the flows of goods and services between the sectors of an economy. These tables can be interpreted as weighted directed networks. At the usual level of aggregation, they contain nodes with strong self-loops and are almost completely connected. We derive two measures of node centrality that are well suited for such networks. Both are based on random walks and have interpretations as the propagation of supply shocks through the economy. Random walk centrality reveals the vertices most immediately affected by a shock. Counting betweenness identifies the nodes where a shock lingers longest. The two measures differ in …
Introduction To Heckscher-Ohlin Theory: A Modern Approach, Eric O'N. Fisher
Introduction To Heckscher-Ohlin Theory: A Modern Approach, Eric O'N. Fisher
Economics
No abstract provided.
Empirical Foundations For The Resurrection Of Heckscher–Ohlin Theory, Peter Egger, Kathryn G. Marshall, Eric O'N. Fisher
Empirical Foundations For The Resurrection Of Heckscher–Ohlin Theory, Peter Egger, Kathryn G. Marshall, Eric O'N. Fisher
Economics
We decompose the factor content of trade into Heckscher–Ohlin–Vanek trade and Ricardian trade. We measure factor content using only the United States' technology and also as Leontief advocated, using the local technology. In either case, differences in endowments are quite important in explaining the factor content of trade. If one uses raw estimated coefficients as a means of comparison, differences in endowments are ten times as important as differences in technology.
Heckscher–Ohlin Theory When Countries Have Different Technologies, Eric O'N. Fisher
Heckscher–Ohlin Theory When Countries Have Different Technologies, Eric O'N. Fisher
Economics
Rethinking the foundations of Heckscher–Ohlin theory when countries have different technologies, this paper shows how to make the proper adjustments for international productivity differences. The central tool is a factor conversion matrix that computes the local factor content of foreign Rybczynski effects. Factor-specific productivities are a special case of these more general linear relationships.
The Structure Of The American Economy, Eric O'N. Fisher, Kathryn G. Marshall
The Structure Of The American Economy, Eric O'N. Fisher, Kathryn G. Marshall
Economics
We explore the relationship between input–output accounts and the national revenue function. The generalized inverse of an economy’s technology matrix carries information relating changes in endowments with changes in outputs; its transpose relates output prices and factor prices. Our primary theoretical contribution is to derive an economy’s revenue function for an arbitrary Leontief technology. Our main empirical contribution is to compute the national revenue function for the American economy in 2003 and to describe its properties. We implement our ideas using two different models: one where all factors are mobile and another with sector-specific capital.
Why Does Tobacco-Control Spending Vary So Much Across States?, Michael L. Marlow
Why Does Tobacco-Control Spending Vary So Much Across States?, Michael L. Marlow
Economics
Although tobacco-control spending is considered an essential component of comprehensive programmes aimed at lowering smoking, substantial variation exists across states. This article examines if variation is systematically related to cross-state differences in smoking prevalence, holding other factors constant that are expected to influence spending. An econometric model is estimated which considers effects of tobacco-settlement revenues, income, unemployment, political party of the governor, state debt and smoking prevalence on tobacco-control spending in all states during 2000--2007. Estimations control for the possibility that spending and smoking prevalence are co-determined to clearly determine the causal link from prevalence to spending. Spending variation is …
Identifiability Of The Misspecified Split Hazard Models, Sanjiv Jaggia
Identifiability Of The Misspecified Split Hazard Models, Sanjiv Jaggia
Economics
Unlike standard models, a split population hazard model allows the exit probability to be less than one. Although conceptually attractive, split models are prone to identification problems. In the reduced form estimation of the hazard function, the influence of split may not be distinguishable from that of neglected heterogeneity. For illustration, I use Monte Carlo simulations to highlight the problem of interpreting the structural parameters of the split Weibull and the Weibull-gamma models.