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Production Networks And International Fiscal Spillovers 生产网络和国际财政溢出效应
2区 经济学
Economic Journal Pub Date : 2023-01-30 DOI: 10.1093/ej/uead014
Michael B. Devereux, Karine Gente, Changhua Yu
{"title":"Production Networks And International Fiscal Spillovers","authors":"Michael B. Devereux, Karine Gente, Changhua Yu","doi":"10.1093/ej/uead014","DOIUrl":"https://doi.org/10.1093/ej/uead014","url":null,"abstract":"Abstract This paper analyses the impact of fiscal spending shocks in a dynamic, multi-country model with international production networks. The response of real gross domestic product to a fiscal spending shock can be decomposed into a direct effect, income effect and price effect. The direct effect depends only on input-output linkages, while the price effect is zero in the aggregate. We apply this decomposition to the Eurozone, and find that fiscal spillovers from Germany and the core Eurozone countries can be large, and within the range of empirical estimates. Without international production networks, spillovers would be significantly smaller. In an empirical application, using the decomposition, we find results strongly consistent with the model.","PeriodicalId":48448,"journal":{"name":"Economic Journal","volume":"53 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135490191","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Location, Location, Location: Manufacturing and House Price Growth 位置，位置，位置:制造业和房价增长
2区 经济学
Economic Journal Pub Date : 2023-01-25 DOI: 10.1093/ej/uead008
Xiangyu Feng, Nir Jaimovich, Krishna Rao, Stephen J Terry, Nicolas Vincent
{"title":"Location, Location, Location: Manufacturing and House Price Growth","authors":"Xiangyu Feng, Nir Jaimovich, Krishna Rao, Stephen J Terry, Nicolas Vincent","doi":"10.1093/ej/uead008","DOIUrl":"https://doi.org/10.1093/ej/uead008","url":null,"abstract":"Abstract Exploiting data on tens of millions of housing transactions, we show that (1) house prices grew by less in manufacturing-heavy US regions, (2) this pattern is especially present for the lowest-value homes and that (3) price declines coincided with worse labour market outcomes, consistent with an income channel. Counterfactual accounting exercises reveal that regional differences in the growth of these lowest-value homes are an important driver of the changes in overall house price inequality. Hence, the economic decline in manufacturing-heavy areas extends far beyond income and employment flows to house prices.","PeriodicalId":48448,"journal":{"name":"Economic Journal","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136082610","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Shifting Punishment onto Minorities: Experimental Evidence of Scapegoating 将惩罚转移到少数群体:替罪羊的实验证据
2区 经济学
Economic Journal Pub Date : 2023-01-18 DOI: 10.1093/ej/uead005
Michal Bauer, Jana Cahlíková, Julie Chytilová, Gérard Roland, Tomáš Želinský
{"title":"Shifting Punishment onto Minorities: Experimental Evidence of Scapegoating","authors":"Michal Bauer, Jana Cahlíková, Julie Chytilová, Gérard Roland, Tomáš Želinský","doi":"10.1093/ej/uead005","DOIUrl":"https://doi.org/10.1093/ej/uead005","url":null,"abstract":"Abstract Do members of a majority group systematically shift punishment onto innocent members of an ethnic minority? We introduce an experimental paradigm, punishing the scapegoat game, to measure how injustice affecting a member of one's own group shapes punishment of an unrelated bystander. When no harm is done, we find no evidence of discrimination against the ethnic minority (Roma people in Slovakia). In contrast, when a member of one's own group is harmed, the punishment ‘passed’ onto innocent individuals more than doubles when they are from the minority, as compared to when they are from the dominant group.","PeriodicalId":48448,"journal":{"name":"Economic Journal","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135435406","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Long-Run Effects of Aid: Forecasts and Evidence from Sierra Leone 援助的长期影响:来自塞拉利昂的预测和证据
2区 经济学
Economic Journal Pub Date : 2023-01-12 DOI: 10.1093/ej/uead001
Katherine Casey, Rachel Glennerster, Edward Miguel, Maarten Voors
{"title":"Long-Run Effects of Aid: Forecasts and Evidence from Sierra Leone","authors":"Katherine Casey, Rachel Glennerster, Edward Miguel, Maarten Voors","doi":"10.1093/ej/uead001","DOIUrl":"https://doi.org/10.1093/ej/uead001","url":null,"abstract":"Abstract We evaluate the long-run effects of a decentralised approach to economic development called community-driven development—a prominent strategy for delivering foreign aid—by revisiting a randomised community-driven development program in Sierra Leone 11 years after launch. We estimate large persistent gains in local public goods and market activity, and modest positive effects on institutions. There is suggestive evidence that community-driven development may have slightly improved the communities’ response to the 2014 Ebola epidemic. We compare estimates to the forecasts of experts from Sierra Leone and abroad, working in policy and academia, and find that local policymakers are overly optimistic about the effectiveness of community-driven development.","PeriodicalId":48448,"journal":{"name":"Economic Journal","volume":"128 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135995365","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Correlating Social Mobility and Economic Outcomes 社会流动与经济成果的关联
IF 3.2 2区 经济学
Economic Journal Pub Date : 2018-06-11 DOI: 10.1111/ecoj.12599
Maia Güell, Michele Pellizzari, Giovanni Pica, José V. Rodríguez Mora
{"title":"Correlating Social Mobility and Economic Outcomes","authors":"Maia Güell,&nbsp;Michele Pellizzari,&nbsp;Giovanni Pica,&nbsp;José V. Rodríguez Mora","doi":"10.1111/ecoj.12599","DOIUrl":"https://doi.org/10.1111/ecoj.12599","url":null,"abstract":"<p>We construct comparable measures of intergenerational mobility (IM) for 103 Italian provinces using the methodology of Güell <i>et al</i>. (2007, 2015<i>a</i>) and explore their correlation with a variety of social and economic outcomes. We find that higher IM is positively associated with economic activity, education and social capital and negatively correlated with inequality. Moreover, there is no clear pattern of correlation with other socio-political variables. These results are qualitatively similar to Chetty <i>et al</i>. (2014), with the important difference that Italy is a highly centralised state where institutions and policies are ‘de jure’ the same in all provinces. This suggests that something beyond institutional and policy differences also shapes intergenerational mobility.</p>","PeriodicalId":48448,"journal":{"name":"Economic Journal","volume":"128 612","pages":"F353-F403"},"PeriodicalIF":3.2,"publicationDate":"2018-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/ecoj.12599","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"137511291","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Is the Simple Law of Mobility Really a Law? Testing Clark's Hypothesis 简单的流动性定律真的是定律吗?检验克拉克的假设
IF 3.2 2区 经济学
Economic Journal Pub Date : 2018-06-11 DOI: 10.1111/ecoj.12516
Kelly Vosters
{"title":"Is the Simple Law of Mobility Really a Law? Testing Clark's Hypothesis","authors":"Kelly Vosters","doi":"10.1111/ecoj.12516","DOIUrl":"10.1111/ecoj.12516","url":null,"abstract":"<p>Recent work by Gregory Clark and co-authors uses a new surnames approach to examine intergenerational mobility, finding much higher persistence rates than traditionally estimated. Clark proposes a model of social mobility to explain the diverging estimates, including the crucial but untested hypothesis that traditional estimates of intergenerational persistence are biased downward because they use only one measure (e.g. earnings) of underlying status. I test for evidence of this using an approach from Lubotsky and Wittenberg (2006), incorporating information from multiple measures into an estimate of intergenerational persistence with the least attenuation bias. Contrary to Clark's prediction, I do not find evidence of substantial bias in prior estimates.</p>","PeriodicalId":48448,"journal":{"name":"Economic Journal","volume":"128 612","pages":"F404-F421"},"PeriodicalIF":3.2,"publicationDate":"2018-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/ecoj.12516","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129105108","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 27
Born with a Silver Spoon? Danish Evidence on Wealth Inequality in Childhood 出生在银汤匙?丹麦儿童时期财富不平等的证据
IF 3.2 2区 经济学
Economic Journal Pub Date : 2018-06-11 DOI: 10.1111/ecoj.12496
Simon Halphen Boserup, Wojciech Kopczuk, Claus Thustrup Kreiner
{"title":"Born with a Silver Spoon? Danish Evidence on Wealth Inequality in Childhood","authors":"Simon Halphen Boserup,&nbsp;Wojciech Kopczuk,&nbsp;Claus Thustrup Kreiner","doi":"10.1111/ecoj.12496","DOIUrl":"10.1111/ecoj.12496","url":null,"abstract":"<p>We use Danish wealth records from three decades to characterise wealth inequality in childhood, where the main source of wealth is transfers. Wealth holdings are small in childhood but they have strong predictive power for future wealth in adulthood. At age 18, asset holdings of children are more informative than parental wealth in predicting wealth of children when they are in their 40s. We investigate why and rule out that childhood wealth in itself can accumulate enough to explain later wealth inequality. Instead, childhood wealth seems to proxy for intergenerational correlation in savings behaviour and additional transfers from parents.</p>","PeriodicalId":48448,"journal":{"name":"Economic Journal","volume":"128 612","pages":"F514-F544"},"PeriodicalIF":3.2,"publicationDate":"2018-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/ecoj.12496","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126094117","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 53
Multiple Measures of Historical Intergenerational Mobility: Iowa 1915 to 1940 历史代际流动的多重测量:爱荷华州1915年至1940年
IF 3.2 2区 经济学
Economic Journal Pub Date : 2018-06-11 DOI: 10.1111/ecoj.12525
James J. Feigenbaum
{"title":"Multiple Measures of Historical Intergenerational Mobility: Iowa 1915 to 1940","authors":"James J. Feigenbaum","doi":"10.1111/ecoj.12525","DOIUrl":"10.1111/ecoj.12525","url":null,"abstract":"<p>Was intergenerational economic mobility high in the early twentieth century in the US? Comparisons of mobility across time are complicated by the constraints of the data available. I match fathers from the Iowa State Census of 1915 to their sons in the 1940 Federal Census, the first state and federal censuses with data on income and years of education. I can estimate intergenerational mobility between 1915 and 1940 based on earnings, education, occupation, and names. Across all these measures, I document broad consensus that rates of persistence were low in Iowa in the early twentieth century.</p>","PeriodicalId":48448,"journal":{"name":"Economic Journal","volume":"128 612","pages":"F446-F481"},"PeriodicalIF":3.2,"publicationDate":"2018-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/ecoj.12525","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126461026","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 65
New Directions in Measuring Intergenerational Mobility: Introduction 代际流动性测量的新方向:导论
IF 3.2 2区 经济学
Economic Journal Pub Date : 2018-06-11 DOI: 10.1111/ecoj.12607
Maia Güell, José V. Rodríguez Mora, Gary Solon
{"title":"New Directions in Measuring Intergenerational Mobility: Introduction","authors":"Maia Güell,&nbsp;José V. Rodríguez Mora,&nbsp;Gary Solon","doi":"10.1111/ecoj.12607","DOIUrl":"10.1111/ecoj.12607","url":null,"abstract":"","PeriodicalId":48448,"journal":{"name":"Economic Journal","volume":"128 612","pages":"F335-F339"},"PeriodicalIF":3.2,"publicationDate":"2018-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/ecoj.12607","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80117140","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 15
Intergenerational Wealth Mobility and the Role of Inheritance: Evidence from Multiple Generations 代际财富流动和继承的作用:来自多代人的证据
IF 3.2 2区 经济学
Economic Journal Pub Date : 2018-06-11 DOI: 10.1111/ecoj.12535
Adrian Adermon, Mikael Lindahl, Daniel Waldenström
{"title":"Intergenerational Wealth Mobility and the Role of Inheritance: Evidence from Multiple Generations","authors":"Adrian Adermon,&nbsp;Mikael Lindahl,&nbsp;Daniel Waldenström","doi":"10.1111/ecoj.12535","DOIUrl":"10.1111/ecoj.12535","url":null,"abstract":"<p>This study estimates intergenerational wealth correlations across up to four generations and examines the degree to which the wealth association between parents and children can be explained by inheritances. Using a Swedish data set with newly hand-collected data on wealth and bequests, we find parent-child rank correlations of 0.3–0.4 and grandparent–grandchild rank correlations of 0.1–0.2. Bequests and gifts appear to be central in this process, accounting for at least half of the parent–child wealth correlation while earnings and education can account for only a quarter.</p>","PeriodicalId":48448,"journal":{"name":"Economic Journal","volume":"128 612","pages":"F482-F513"},"PeriodicalIF":3.2,"publicationDate":"2018-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/ecoj.12535","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117293777","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 136
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