41 votes

The efficacy of death penalty in reducing violent crimes

The literature on this issue flip flops. The first seminal study by Sellin (1959)¹ did not find any significant effect, but early literature was riddled with methodological errors. Ehrlich’s (1975)² ...
WilliamT's user avatar
  • 1,785
9 votes

The efficacy of death penalty in reducing violent crimes

The death penalty as a deterrent to crime is ineffective is the prevailing view amongst researchers and experts in the field of criminology. Some studies would indicate that there is no correlation ...
Henry George's user avatar
5 votes
Accepted

Conventional Monetary Policy and Income Inequality

Well, certainly you'll see literature saying it is possible to make monetary redistributive. This paper by Brunnermeier and Sannikov (2012), Redistributive Monetary Policy, says that deflation can ...
Kitsune Cavalry's user avatar
  • 6,608
5 votes

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

The recent development of many "developing countries" and "emerging markets" does not mean that Western colonial powers did not exploit them in the past. Emerging economies owe their modern GDP ...
rocinante's user avatar
  • 257
4 votes
Accepted

Cyclicality of Real Wages? Counter, pro or acyclical?

Are Wages Procyclical? Here's the entry from Table 1 in King and Rebelo (2000; Resuscitating Real Business Cycles). The variable of analysis is log-wages, detrended with HP filter. It has a std, ...
FooBar's user avatar
  • 10.7k
4 votes
Accepted

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

To complement @rocinante answer the argument described in the question silently assumes that growth can happen only if you steal from somebody. So if the past colonies cannot steal from anybody, they ...
Alecos Papadopoulos's user avatar
4 votes

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

Have there been any empirical attempts to estimate the value of being taught specific skills - for example, phonics or solving algebraic equations? If I may be brazen enough to challenge the basis of ...
EconJohn's user avatar
  • 8,305
4 votes
Accepted

A question on the accuracy of economic forecasts

Regarding Forecasts in General Economic forecasts as any forecasts can be sometimes wrong, however that does not mean they are always wrong and many times people just don’t really understand how to ...
1muflon1's user avatar
  • 55.6k
4 votes
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Calculating Tobin's q from the financial statements of publicly listed companies

Tobin's q is defined as the ratio between the market value of the firm over the replacement cost of its assets. If you use WRDS, you can calculate it as follows: Tobin's q = (AT + (CSHO ∗ PRCC_F) − ...
BKay's user avatar
  • 16.3k
3 votes

Competition and welfare - empirical evidence

Here is a fact sheet by the OECD about the effects of competition. It is mostly concerned with growth and productivity, but also discusses the effects on poor consumers and prices. It cites a wide ...
hrrrrrr5602's user avatar
3 votes

Replicate Romer and Romer (2004) results

Sorry for any confusion in my previous answer but there are 2 steps to this process 1) tracing out the impact on the $\Delta$y's and the lags of the shocks and then 2) accumulating the shocks to get ...
Andrew M's user avatar
  • 426
3 votes

How much can we trust macroeconometric analysis?

I do not think that macroeconomic analysis would be 'less trust worthy'. In the same ways as you can solve the issue of omitted variables and reverse causality in microeconomics you can do it ...
1muflon1's user avatar
  • 55.6k
3 votes

How many utility functions can a person have?

Utility functions provide identical orderings of bundles of consumption under positive monotonic transformations. Therefore, if an individual's preferences are representable with a utility function ...
BKay's user avatar
  • 16.3k
3 votes
Accepted

Did online learning affect the returns to education?

There is a working paper by Emily Oster et al. (2022), Pandemic Schooling Mode and Student Test Scores: Evidence from U.S. School Districts. I guess you can find additional references in the paper's ...
Tony's user avatar
  • 1,262
3 votes

What data / evidence is there to support the assertion that wealth taxes are ineffective because they're difficult to implement?

What are some real-life examples of wealth-taxes being implemented and how did they go? There many examples of wealth taxes tried in various European countries. However, most of them were abolished ...
1muflon1's user avatar
  • 55.6k
2 votes

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

That that we have linear supply and demand functions, pretty much the simplest case such that quantity supplied of good $i$ is: $$ Q_{s,i,t} = \alpha_{0,i,t} + \alpha_{1,i,t} \cdot P_{i,t}$$ and ...
BKay's user avatar
  • 16.3k
2 votes

Value added by workers

Normally when we think about value added, we think of marginal revenue product of labor: how much more revenue does adding another worker add to the firm? If you assume that the market is competitive,...
Art's user avatar
  • 2,784
2 votes
Accepted

Change in the way unemployment is calculated in the US?

The most likely explanation for discrepancies that political partisans like to pick at is that presidents like to cite different measures of unemployment. The BLS has 6 alternative categories of labor ...
Kitsune Cavalry's user avatar
  • 6,608
2 votes

Change in the way unemployment is calculated in the US?

In answer to the original question - not there has not been any change in the way unemployment is calculated. You can see how it is done here https://www.bls.gov/cps/cps_htgm.htm The way data is ...
James Connor's user avatar
2 votes
Accepted

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

The above chart is from Agroecosystems, nitrogen-use efficiency, and nitrogen management by Cassman KG, Dobermann A, Walters DT, and it deals with this sort of question quite extensively for those ...
Roger's user avatar
  • 160
2 votes
Accepted

Real world evidence that voluntary exchange is mutually beneficial?

First of all, there is no need to believe any economic dogma. The real world is usually more complicated than these stories. If anyone can convince me of something with a two minute anecdote, that was ...
Giskard's user avatar
  • 29.3k
2 votes
Accepted

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

This is sort of my field, tough I focus more on education. One explanation that seems to fit the data is that the american labor market now is incorporating benefits and variable pay, so wages should ...
Pedro Cavalcante's user avatar
2 votes

Famous recent paper on monetary Unions

Get a copy of De Grauwe's "Economics of Monetary Union". The most recent version (13th edition) is quite recent, from this year. So if there is a "famous" recent paper, it is ...
Bayesian's user avatar
  • 5,280
2 votes
Accepted

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

Constant returns to scale are mostly mathematical convenience. Empirically they can occur but there is no guarantee that they will. Although you should note that Solow model can be tweaked to ...
1muflon1's user avatar
  • 55.6k
2 votes
Accepted

EmpirIcal evidence on effects of price floors and ceilings

There is different evidence for price controls in labor market and different evidence for price controls in general. Minimum Wage When it comes to minimum wages there is evidence that they do not ...
1muflon1's user avatar
  • 55.6k
2 votes
Accepted

Evidence for or against the Efficient Market Hypothesis in financial markets and the currently dominant view

The abstract of EVIDENCE FOR AND AGAINST THE VALIDITY OF EFFICIENT MARKET HYPOTHESIS by Milјan Leković: The concept of an efficient financial market, in literature known as efficient market ...
Giskard's user avatar
  • 29.3k
2 votes
Accepted

Research on the effect of government size on prosperity?

In Does Government Size Affect Per-Capita Income Growth? A Hierarchical Meta-Regression Analysis, Churchill, Ugur and Yew write Since the late 1970s, the received wisdom has been that government size ...
Giskard's user avatar
  • 29.3k
2 votes

Did online learning affect the returns to education?

There have been several studies and reports that have examined the impact of online learning during the pandemic on the returns to university education. One such study is "The Impact of COVID-19 ...
David Grover's user avatar

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