Questions tagged [empirical-evidence]

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3
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1answer
43 views

Empirical justification for a constant-returns-to-scale production function in the Solow model

I am currently learning the Solow model of growth, where a constant returns to scale production function for the economy is assumed. I realise that the assumption makes further analysis much simpler, ...
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1answer
74 views

How much can we trust macroeconometric analysis?

I am a student of economics in my masters and I have learned quite a lot about microeconometrics (I mean mainly quasi-experimental methods / causality determination). Here my current understanding is ...
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2answers
36 views

Famous recent paper on monetary Unions

do you know any (theoretical or empirical) recent famous paper about monetary unions ? I heard that topics like "monetary unions at ZLB" or "fiscal coordination during crisis time" ...
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0answers
19 views

stylized facts about inflation and output: fat tails, excess volatility,

I can find papers about the stylized facts, which would be excess volatility, fat tails, persistence, etc., about asset prices, but not really about inflation and output, which presumely would show ...
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20 views

Reference for Jacob Viner research on colonies

In this video at 6.02 Milton Friedman mentions some 'famous studies' on colonies from Jacob Viner. Does someone know exactly which studies these are?
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14 views

Inertia and rational expectations DSGE models

What types of inertia or other phenomena in the data are hard to model with New Keynesian or other DSGE models assuming rational expectations?
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11 views

Successes and limitations of New Keynesian DSGE models?

What are some good review papers that discuss the successes and limitations of current state of the art (New Keynesian) DSGE models assuming rational expectations? Probably some of these reviews can ...
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0answers
39 views

Do countries with high taxes end up with low government debt but high private debt?

I'm curious if my observation that some Scandinavian countries (Denmark, Sweden) have high taxes, low government debt, but high private (in particular high household) debt is applicable more generally ...
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35 views

Can I use the released data on AER and JPE in my own research without permission?

I don't think JPE has suggested a specific license. However, the journal did say that the data policy is adopted from American Economic Review (AER). AER did suggest a license of Creative Commons ...
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1answer
87 views

A question on the accuracy of economic forecasts

I apologise if thi's question appears dumb or boring, but I am asking it as a lay person. The context is that I am always arguing with friends that they should trust the economists view that Bexit (...
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0answers
45 views

Estimates of magnitude of externalities generated by education?

It is standard to claim that education generates positive externalities. For example, Mankiw (2017, Principles of Economics, p. 193): education also yields positive externalities. One externality ...
4
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2answers
107 views

Is there any evidence for consumer utility-maximising behaviour, at individual or market level?

Even though utility maximisation is ubiquitous in economic textbooks to model consumer behaviour, its usefulness is rarely demonstrated by evidence. Is there any evidence that some consumers do ...
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2answers
71 views

Is there any empirical evidence for the so-called “law” of diminishing returns

The "law" of diminishing returns is usually "demonstrated" with made-up examples (programmers working on a software, farmers acquiring land...), but rarely on evidence. Is there any empirical research ...
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1answer
113 views

Real world evidence that voluntary exchange is mutually beneficial?

The other day I was having a debate with a supporter of high taxes. I decided to argue against this by explaining the concept of the deadweight loss of taxation. In order to do so, I started with ...
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2answers
40 views

Empirical research into sectoral comovement

I'm looking for some empirical studies into sectoral comovement. In particular, I'm interested in how manufacturing and services industries move together both in the long run and over the course of a ...
0
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1answer
27 views

Understanding what's in the frequently reported and discussed high demand in IT specialists in Germany - is the IT Fachkräftemangel real?

So far, I can observe the following contradictory evidences what I perceive from the media. Statement group #1. In the press, there are repeated reports from different sources about missing ...
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2answers
242 views

Empirical explanation on divergence between productivity and wages since the 70s

There is a well know graph, that shows a tight link between productivity and wages, until the 70s, and a break of the link since: There's a lot of possible explanations for this, I keep hearing more ...
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0answers
44 views

Are there empirical studies that quantify shoe-leather or menu costs?

Two theoretical arguments why a high level of inflation is bad (e.g. for growth) are: shoe-leather cost: keeping lower money balances when inflation is high (implying more frequent trips to the bank/...
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1answer
91 views

Competition and welfare - empirical evidence

Consider the following claims: less competitive markets deliver worse outcomes for consumers, less competitive markets deliver lower social welfare, less competitive markets deliver higher prices/...
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1answer
53 views

What's the speed of convergence to the potential GDP? (Empirical estimates)

Suppose a reform makes potential GDP higher, at what speed does actual GDP close the gap? I'm looking preferentially for empirical estimates, but anything that allows me to narrow it down will be ...
3
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2answers
127 views

Are there economic journals which are keen to publish puzzling empirical observations?

In his book "Patterns of Speculation: A Study in Observational Econophysics"(2002) Bertrand Roehner makes a bold assertion: Physical journals welcome all kinds of experimental observations, ...
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1answer
44 views

“Normal” vs “actual” variables in empirical work

In an early OECD study by Deppler and Ripley (1978), the authors distinguish between output per man hour, $OMH$, and what they call "Normal" output per man-hour, $NOMH$. (table 2, p152) At no point ...
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2answers
6k views

Change in the way unemployment is calculated in the US?

In the last 8 years has their been a change in the way unemployment is calculated? Is there a nuance that has changed in the polling info? Many of my right wing comrades claim the Obama administration ...
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2answers
113 views

Have there been attempts to measure the value of specific taught skills?

I'm aware there is a body of research concerned with measuring the returns to schooling in general, and there are theoretical pronouncements about what the most valuable things to learn at school are. ...
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1answer
24 views

What are the different patterns/quantity of employment according to demands of different income ranges?

I don't really have that much knowledge on economics or anything, so perhaps that's something I'd find an answer if I just knew the adequate terminology. Rephrasing/explaining my question: different ...
3
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1answer
309 views

Replicate Romer and Romer (2004) results

I am trying to replicate figure 2 from Romer and Romer's (2004) paper on monetary shocks (http://eml.berkeley.edu/~dromer/papers/AER_September04.pdf). Essentially, having generated a series for ...
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3answers
282 views

Conventional Monetary Policy and Income Inequality

In almost every textbook, it's stated that monetary policy is preferred to fiscal policy, since the latter is more politically difficult to implement due to smaller consensus on its redistributive ...
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0answers
35 views

Empirical Study of Auctions with Limited Data

I have limited real auction data which I am trying to see if I can do any empirical analysis. The data consists of auction type (i.e., forward or reverse), protocol (e.g., Vickrey, Dutch, English, etc....
2
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1answer
182 views

Value added by workers

Is there any empirical evidence on the value added by workers? That is, their "productivity" minus the wage payments, social security benefits etc. that are paid by the firm? I'm eventually looking ...
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2answers
106 views

Is it possible for disposable income to be lower than consumption expenditure?

I have an issue dealing with dataset provided for my coursework. Because of the fact that I've been failing to find time-series of the same or similar values anywhere from world bank to Office for ...
2
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2answers
49 views

Is it possible to tell anything about market structure if I have annual price data of the industries?

I have three goods: beer carp (fish) museum ticket Is it possible to tell anything about market structure if I have annual price data of the industries? Here's the time-series plot on a single graph:...
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1answer
97 views

Causes of interlocking directorship connections between firms

I need to interpret some empirical results telling me that firms (intended as profit-maximising entities) prefer to be controlled (e.g. through interlocking directorships) by smaller and less ...
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2answers
162 views

Is the development of “developing countries” evidence against the idea that former colonial powers owe their headway to exploitation?

There is a recurring narrative (especially but not exclusively in left-leaning circles) that today's "developed nations", particularly Western former colonial powers, owe much of their wealth and ...
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211 views

Arguments against inheritance tax

One of the arguments against inheritance tax is that it lowers the incentive to work for those close to retirement who have earnt enough money to be comfortable in old age. How much is this offset ...
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2answers
3k views

Cyclicality of Real Wages? Counter, pro or acyclical?

Is the real wage counter or pro- cyclical? I've read in some textbooks that the real wage is mildly pro-cyclical, but I've also found some papers stating that it's acyclical. So, which is it? Also, ...
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0answers
32 views

How can I find state-level data on the unemployment rate of youth for 2014 and 2015?

I have found state-level, monthly unemployment data for 2014/2015, and I have found national monthly youth unemployment data for 2014/2015. However, I need all four together; State-level, monthly ...
5
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0answers
187 views

Consumption-Leisure Elasticity

The macro-literature insists on a consumption-leisure elasticity of 0 to match the balanced growth fact of constant labor supply. Is there any paper that tries to evaluate this elasticity using ...
4
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1answer
56 views

“Tightness” of political elections and public attention

Are there any empirical studies on political elections that focus on the "tightness" of the race and how much attention the election receives from the public (or perhaps voter turnout). By "tightness"...
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2answers
80 views

Proving or disproving hypothesis?

I took statistics class years ago in my college and I don't remember much of it now. I am into public policy research now and I am bit confused about about what conclusion to make from available ...
5
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1answer
645 views

How to measure Tobin's q?

How do people calculate Tobin'q empirically? Does anyone use it to make investment decisions? In particular, the version I learnt has no company debt involved with only capital under consideration, ...
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0answers
106 views

Why might a country with a budget surplus continue issuing bonds - ie borrowing?

Some argue that if a government runs a budgetary deficit, it is a drag on the public finances because taxpayers must fund interest payments to external creditors. If the interest payments were an ...
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2answers
1k views

Practical examples of fair division algorithms being used

Consider the problem of fairly sharing a homogeneous cake between two people. It is well-known that a fair division can be achieved through the divide and choose procedure: player 1 cuts the cake into ...
7
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1answer
156 views

Differing Inflation Rates for Separate Income Groups; Literature?

So here's a few ideas that have been floating around my head since undergraduate university. It seems that money owned by the highest net wealth owners is always moving around and making a return, but ...
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2answers
226 views

Do welfare payments for children incentivise having children?

A common argument against safety net social welfare for people with children is that it can incentivise people without better options to have children. This could be considered a problem if it means ...
7
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1answer
169 views

Evidence on economic impact of 2015 European refugee/migrant influx

At the time of writing (September 2015), Europe is dealing with a large influx of refugees/migrants. Many are fleeing violence in Syria and elsewhere, others come from Africa and the Middle East in ...
4
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1answer
114 views

Empirical Data on Demand for Minimum-Wage Jobs in the USA

The idea of a minimum wage and its effects in terms of supply and demand are well-known in mainstream economic theory. I'm constructing an argument regarding the minimum wage, and what I'm curious ...
4
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1answer
182 views

Economic examples of (sub)martingales

A (discrete time) martingale is a stochastic process $\{X_t\}_{t\in\mathbb N}$ that satisfies, for all $t\in\mathbb N$, $$ E(|X_t|)<\infty $$ and $$ E(X_{t+1}|X_1,\dots,X_t)=X_t. $$ And a ...
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1answer
130 views

What would be the GDP of Algeria without Oil & Gas?

Facts : *Algeria's GDP is 230 B$, *Oil & Gas account for 30% (70 B$) My simplistic reasoning would say : Substract 70 from 230 and get a new GDP of 160 B$. ...
4
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1answer
121 views

Reasons for the recent rise in long-term unemployment

Kroft et al document the raise of long-term unemployed in the US during the recent crises. This is an impressive figure from their paper: They show that the raise does not come from compositional ...
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1answer
126 views

Gali and van Rens: The Vanishing Procyclicality of Labor Productivity

Let's see how questions like the following are taken here. Gali and van Rens, 2014 show that empirically, the correlation between $Y, Y/L$ has been declining over time. In fact, it only was a "real ...