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Estimating Estate-Specific Price-to-Rent Ratios in Shanghai and Shenzhen: A Bayesian Approach
(Department of Economics, 2010)
in the same estate. We find that the price-to-rent ratios tend to be higher for low-end properties. We discuss economic explanations for the phenomenon and the policy implications....
Long-Term Oil Price Forecasts: A New Perspective on Oil and the Macroeconomy
(Department of Economics, 2010)
-space oil market model, in which global real economic activity and real oil prices share a common stochastic trend. Changes in unanticipated fluctuations and changes in the forecasted longterm average of discounted real oil prices sum to real oil price...
Labor-Market Returns to the GED Using Regression Discontinuity Analysis
(Department of Economics, 2010)
In this paper, we evaluate the labor-market returns to General Educational Development (GED) certification using Missouri administrative data. We develop a fuzzy regression discontinuity (FRD) method to account for the fact that GED test takers can...
The Role of Industry and Occupation in U.S. Unemployment Differentials by Gender, Race and Ethnicity: Recent Trends
(Department of Economics, 2010)
We examine how gender, racial, and ethnic variation in unemployment and Unemployment Insurance (UI) receipt changed over time in the U.S. economy and how these changes are influenced by shifts in the occupational and ...
Endogenous Credit Cycles
(Department of Economics, 2010)
We study models of credit with limited commitment, which implies endogenous borrowing constraints. We show that there are multiple stationary equilibria, as well as nonstationary equilibria, including some that display ...
Strategic Choice of Channel Structure in an Oligopoly
(Department of Economics, 2011)
interaction when the downstream firm conveys internal strife (decentralization) to an upstream external supplier. This paper extends the single firm centralization-decentralization choice model of Arya and Mittendorf (2007) to a strategic choice model in which...