Employment growth mixed across Eighth District
Risk Aversion at the Country Level
In this paper we provide estimates of the coefficient of relative risk aversion for 80 countries using data on self-reports of personal well-being from the Gallup World Poll. For most countries we cannot reject the null hypothesis that the coefficient of relative risk aversion equals 1. We conclude that our result supports the use of the log utility function in numerical simulations.
Tax competition and tax harmonization with evasion
We examine a two-jurisdiction tax competition environment where local governments can only imperfectly monitor where agents pay taxes and risk-averse individuals my choose to cross borders to pay lower taxes in a neighboring location. ; In the game between local authorities, when communities differ in size, in equilibrium the smaller community sets lower taxes and attracts agents from the larger jurisdiction. With identical communities, tax rates must be equal. Whenever the smaller community benefits from tax harmonization, the larger one will also. ; If the high-tax community chooses a ...
Immigration at the extremes of the skill distribution
According to economists, in the 1980s and 1990s, immigration of low-skilled workers may have increased the labor supply of highly skilled women, and immigration of highly skilled workers may have increased the rate of innovation in the United States.
Give me your skilled.
Census figures show that suburbs in the Eighth District are growing faster than they are for the nation as a whole
Clustered Housing Cycles
Using a panel of U.S. city-level building permits data, we estimate a Markov-switching model of housing cycles that allows for idiosyncratic departures from a national housing cycle. These departures occur for clusters of cities that experience simultaneous housing contractions. We find that cities do not form housing regions in the traditional geographic sense. Instead, similarities in factors affecting the demand for housing (such as average winter temperature and the unemployment rate) appear to be more important determinants of cyclical comovements than similarities in factors affecting ...
Innovation: Is the Eighth District catching up with the nation?
The degree of innovation in the Eighth District has lagged the rest of the nation over the past two decades. In one area, however, the District is beginning to catch up.
Patterns of interstate migration in the United States from the survey of income and program participation
The authors describe the Survey of Income and Program Participation (SIPP) as a data source for migration studies. The SIPP is a panel dataset that provides information on income, employment outcomes, and participation in government programs. Survey participants are interviewed for up to four years even if they move to a new household or that household migrates within the United States. This unique longitudinal design gives the survey a strong advantage over traditional data sources. The authors illustrate differences in the propensity for interstate migration among different demographic ...
The earned income tax credit at work