Search Results
Showing results 1 to 10 of approximately 43.
(refine search)
Working Paper
The Alpha Beta Gamma of the Labor Market
Menzio, Guido; Wiczer, David; Gregory, Victoria
(2021-04-01)
Based on patterns of employment transitions, we identify three different types of workers in the US labor market: α’s β’s and γ’s. Workers of type α make up over half of all workers, are most likely to remain on the same job for more than 2 years and, when they become unemployed, typically find a new job within 1 quarter. Workers of type γ comprise less than one-fifth of workers, have a low probability of staying on the same job for more than 2 years and, when they become unemployed, face a high probability of remaining jobless for more than 1 year. Workers of type β are in ...
Working Papers
, Paper 2021-003
Working Paper
Dale W. Jorgenson: An Intellectual Biography
Fernald, John G.
(2022-03-30)
Dale W. Jorgenson has been a central contributor to a wide range of economic and policy issues over a long and productive career. His research is characterized by a tight integration of economic theory, appropriate data that matches the theory, and sound econometrics. His groundbreaking work on the theory and empirics of investment established the research path for the economics profession. He is a founder of modern growth accounting: Official statistics in many countries, including the United States, implement Jorgenson’s methods. Relatedly, without Jorgenson’s unflagging efforts, ...
Working Paper Series
, Paper 2022-08
Journal Article
Venture Capital: A Catalyst for Innovation and Growth
Greenwood, Jeremy; Han, Pengfei; Sanchez, Juan M.
(2022)
This article studies the development of the venture capital (VC) industry in the United States and assesses how VC financing affects firm innovation and growth. The results highlight the essential role of VC financing for U.S. innovation and growth and suggest that VC development in other countries could promote their economic growth.
Review
, Volume 104
, Issue 2
, Pages 120-130
Working Paper
The Propagation of Monetary Policy Shocks in a Heterogeneous Production Economy
Schoenle, Raphael; Pasten, Ernesto
(2019-11-15)
Realistic heterogeneity in price rigidity interacts with heterogeneity in sectoral size and input-output linkages in the transmission of monetary policy shocks. Quantitatively, heterogeneity in price stickiness is the central driver for real effects. Input-output linkages and consumption shares alter the identity of the most important sectors to the transmission. Reducing the number of sectors decreases monetary non-neutrality with a similar impact response of inflation. Hence, the initial response of inflation to monetary shocks is not sufficient to discriminate across models and ignoring ...
Working Papers
, Paper 19-25
Working Paper
Innovation and Trade Policy in a Globalized World
Akcigit, Ufuk; Impullitti, Giammario; Ates, Sina T.
(2018-06-15)
How do import tariffs and R&D subsidies help domestic firms compete globally? How do these policies affect aggregate growth and economic welfare? To answer these questions, we build a dynamic general equilibrium growth model where firm innovation endogenously determines the dynamics of technology, market leadership, and trade flows, in a world with two large open economies at different stages of development. Firms? R&D decisions are driven by (i) the defensive innovation motive, (ii) the expansionary innovation motive, and (iii) technology spillovers. The theoretical investigation illustrates ...
International Finance Discussion Papers
, Paper 1230
Working Paper
Escaping the Middle-Income Trap: A Cross-Country Analysis on the Patterns of Industrial Upgrading
Wen, Yi; Wang, Lili
(2018-01-16)
With rapid industrial upgrading along the global value chain of manufactured goods, China has transformed, within one generation, from an impoverished agrarian society to a middle-income nation as well as the largest manufacturing powerhouse in the world. This article identifies the pattern of China?s industrial upgrading and compares it with those of other successfully industrialized economies and the failed ones. We find that (i) China (since 1978) followed essentially the same path of industrial upgrading as that of Japan and the ?Asian Tigers.? These economies succeeded in catching up ...
Working Papers
, Paper 2018-1
Working Paper
The Alpha Beta Gamma of the Labor Market
Menzio, Guido; Wiczer, David; Gregory, Victoria
(2022-05)
Using a large panel dataset of US workers, we calibrate a search-theoretic model of the labor market, where workers are heterogeneous with respect to the parameters governing their employment transitions. We first approximate heterogeneity with a discrete number of latent types, and then calibrate type-specific parameters by matching type-specific moments. Heterogeneity is well approximated by 3 types: αs, βs and γs. Workers of type α find employment quickly because they have large gains from trade, and stick to their jobs because their productivity is similar across jobs. Workers of type ...
Working Papers
, Paper 2021-003
Working Paper
Externalities, Endogenous Productivity, and Poverty Traps
DiCecio, Riccardo; Barseghyan, Levon
(2008)
We present a version of the neoclassical model with an endogenous industry structure. We construct a distribution of firms? productivity that implies multiple steady-state equilibria even with an arbitrarily small degree of increasing returns to scale. While the most productive firms operate across all the steady states, in a poverty trap less productive firms operate as well. This results in lower average firm productivity and total factor productivity. The distributions of employment by firm size across steady states are consistent with the empirical observation that poor countries have a ...
Working Papers
, Paper 2008-023
Working Paper
Do Sovereign Wealth Funds Dampen the Negative Effects of Commodity Price Volatility?
Raissi, Mehdi; Mohaddes, Kamiar
(2017-02-01)
This paper studies the impact of commodity terms of trade (CToT) volatility on economic growth (and its sources) in a sample of 69 commodity-dependent countries, and assesses the role of Sovereign Wealth Funds (SWFs) and quality of institutions in their long-term growth performance. Using annual data over the period 1981-2014, we employ the Cross-Sectionally augmented Autoregressive Distributive Lag (CS-ARDL) methodology for estimation to account for cross-country heterogeneity, cross-sectional dependence, and feedback effects. We find that while CToT volatility exerts a negative impact on ...
Globalization Institute Working Papers
, Paper 304
Working Paper
The Propagation of Monetary Policy Shocks in a Heterogeneous Production Economy
Schoenle, Raphael; Weber, Michael; Pasten, Ernesto
(2020-01-15)
Realistic heterogeneity in price rigidity interacts with heterogeneity in sectoral size and input-output linkages in the transmission of monetary policy shocks. Quantitatively, heterogeneity in price stickiness is the central driver for real effects. Input-output linkages and consumption shares alter the identity of the most important sectors to the transmission. Reducing the number of sectors decreases monetary non-neutrality with a similar impact response of inflation. Hence, the initial response of inflation to monetary shocks is not sufficient to discriminate across models and ignoring ...
Working Papers
, Paper 19-25R
FILTER BY year
FILTER BY Bank
Federal Reserve Bank of St. Louis 15 items
Board of Governors of the Federal Reserve System (U.S.) 9 items
Federal Reserve Bank of Minneapolis 5 items
Federal Reserve Bank of Dallas 4 items
Federal Reserve Bank of New York 3 items
Federal Reserve Bank of San Francisco 3 items
Federal Reserve Bank of Atlanta 2 items
Federal Reserve Bank of Cleveland 2 items
show more (3)
show less
FILTER BY Series
Working Papers 16 items
International Finance Discussion Papers 5 items
Finance and Economics Discussion Series 4 items
Globalization Institute Working Papers 4 items
Review 4 items
Staff Reports 3 items
Working Paper Series 3 items
FRB Atlanta Working Paper 2 items
Opportunity and Inclusive Growth Institute Working Papers 1 items
Staff Report 1 items
show more (5)
show less
FILTER BY Content Type
FILTER BY Author
Greenwood, Jeremy 7 items
Han, Pengfei 6 items
Sanchez, Juan M. 6 items
Luttmer, Erzo G. J. 3 items
Mohaddes, Kamiar 3 items
Akcigit, Ufuk 2 items
Gregory, Victoria 2 items
Holston, Kathryn 2 items
Laubach, Thomas 2 items
Menzio, Guido 2 items
Pasten, Ernesto 2 items
Raissi, Mehdi 2 items
Roys, Nicolas 2 items
Schoenle, Raphael 2 items
Wen, Yi 2 items
Wiczer, David 2 items
Williams, John C. 2 items
Abel, Jaison R. 1 items
Alviarez, Vanessa 1 items
Aramonte, Sirio 1 items
Ates, Sina T. 1 items
Azar, Pablo 1 items
Baglan, Deniz 1 items
Barseghyan, Levon 1 items
Caliendo, Lorenzo 1 items
Cavalcanti Ferreira, Pedro 1 items
Connolly, Michelle P. 1 items
Couharde, Cécile 1 items
Cravino, Javier 1 items
Damette, Olivier 1 items
DiCecio, Riccardo 1 items
Dinlersoz, Emin M. 1 items
Engbom, Niklas 1 items
Engelhardt, Bryan 1 items
Epstein, Brendan 1 items
Fernald, John G. 1 items
Fortier, George E. 1 items
Gabe, Todd M. 1 items
Gelain, Paolo 1 items
Generoso , Rémi 1 items
Gottardi, Piero 1 items
Impullitti, Giammario 1 items
Jovanovic, Boyan 1 items
Kahn, Matthew E. 1 items
Kajii, Atsushi 1 items
Kimball, Miles S. 1 items
Lansing, Kevin J. 1 items
Leung, Charles Ka Yui 1 items
Lewis, Kurt F. 1 items
Ma, Sai 1 items
Manuelli, Rodolfo E. 1 items
Monge-Naranjo, Alexander 1 items
Morais, Bernardo 1 items
Nakajima, Tomoyuki 1 items
Natvik, Gisele J. 1 items
Parro, Fernando 1 items
Penciakova, Veronika 1 items
Pesaran, M. Hashem 1 items
Ramondo, Natalia 1 items
Rossi-Hansberg, Esteban 1 items
Sarte, Pierre-Daniel G. 1 items
Torres de Mello Pereira, Luciene 1 items
Vazquez-Grande, Francisco 1 items
Wang, Lili 1 items
Weber, Michael 1 items
Yang, Jui-Chung 1 items
Yoldas, Emre 1 items
show more (62)
show less
FILTER BY Jel Classification
O31 8 items
E13 7 items
E22 7 items
G24 7 items
L26 7 items
O16 7 items
O30 6 items
E24 4 items
E32 4 items
E43 3 items
E52 3 items
F43 3 items
O10 3 items
O11 3 items
O47 3 items
R11 3 items
C23 2 items
C32 2 items
C33 2 items
E00 2 items
E23 2 items
E31 2 items
E44 2 items
F60 2 items
J24 2 items
O1 2 items
O33 2 items
Q54 2 items
B00 1 items
B21 1 items
B31 1 items
C24 1 items
D20 1 items
D52 1 items
D60 1 items
D80 1 items
D84 1 items
D90 1 items
E20 1 items
E30 1 items
E62 1 items
F02 1 items
F1 1 items
F10 1 items
F11 1 items
F13 1 items
F23 1 items
F41 1 items
F62 1 items
G02 1 items
G12 1 items
G31 1 items
H10 1 items
H21 1 items
H40 1 items
H70 1 items
J11 1 items
J13 1 items
J20 1 items
J22 1 items
K00 1 items
L10 1 items
L16 1 items
L20 1 items
N00 1 items
N10 1 items
O13 1 items
O14 1 items
O20 1 items
O32 1 items
O34 1 items
O41 1 items
O44 1 items
O50 1 items
O51 1 items
O57 1 items
P00 1 items
Q51 1 items
R12 1 items
R13 1 items
R30 1 items
R31 1 items
show more (78)
show less
FILTER BY Keywords
venture capital 7 items
economic growth 7 items
endogenous growth 7 items
IPO 6 items
research and development 6 items
startups 6 items
capital gains taxation 5 items
dynamic contracts 5 items
evaluating 5 items
funding rounds 5 items
monitoring 5 items
growth regressions 3 items
productivity 3 items
Growth 3 items
monetary policy 3 items
Business Cycles 2 items
Kalman filter 2 items
Knowledge diffusion 2 items
Search frictions 2 items
Trend growth 2 items
Unemployment 2 items
financial development 2 items
input-output linkages 2 items
multi-sector Calvo model 2 items
total factor productivity 2 items
Climate change 2 items
Innovation 2 items
Patents 2 items
Borrowing constraints 1 items
China’s Economic Development 1 items
Competition 1 items
Convergence 1 items
Dale Jorgenson 1 items
Demographics 1 items
Development accounting 1 items
Downside risk 1 items
ENSO events 1 items
Embodied Technology 1 items
Employment 1 items
Endogenous productivity 1 items
Entrepreneurial choice 1 items
Firm size distribution 1 items
Foreign technological catching-up 1 items
Gains from variety 1 items
Growth at risk 1 items
Imitation 1 items
Income inequality 1 items
Industrial Revolution 1 items
Inequality 1 items
Inflation 1 items
Innovation policy 1 items
Interregional trade 1 items
Investor sentiment 1 items
Labor supply 1 items
Labor turnover 1 items
Learning-to-Learn 1 items
Lending standards 1 items
Long-run growth 1 items
Middle-Income Trap 1 items
Monetary policy rules 1 items
Mortgage debt 1 items
Multinational enterprises 1 items
Natural rate of interest 1 items
Natural rate of output 1 items
New Institutional Theory 1 items
New Stage Theory 1 items
New Structural Economics 1 items
North-South Trade 1 items
Pileup 1 items
R&D 1 items
Short- and long-run gains from globalization 1 items
Technological Diffusion 1 items
Technological innovation 1 items
Trade policy 1 items
Uncertainty and growth 1 items
Volatility 1 items
adaptation 1 items
assortative matching 1 items
bootstrap 1 items
counterfactual analysis 1 items
drudgery 1 items
education 1 items
electronic miniaturization 1 items
factor mobility 1 items
fertility 1 items
financial frictions 1 items
gross domestic product 1 items
growth accounting 1 items
housing bubbles 1 items
human capital 1 items
income effect 1 items
intersectoral linkages 1 items
investment 1 items
job utility 1 items
knowledge 1 items
learning 1 items
macroprudential policy 1 items
management 1 items
mergers and acquisitions 1 items
misallocation 1 items
multiple equilibria 1 items
new economy 1 items
poverty traps 1 items
reallocation 1 items
regulation 1 items
semiparametric panel data model 1 items
series estimation 1 items
structural transformation 1 items
substitution effect 1 items
synergies 1 items
taxation 1 items
threshold effects 1 items
weather shocks 1 items
work hours 1 items
show more (116)
show less