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Working Paper
The Interactions of Social Norms about Climate Change: Science, Institutions and Economics
We study the evolution of interest in climate change among different actors within the population and how the interest of these actors affects one another. First, we document the evolution of interest for each actor individually, and then we provide a model of cross-influences between them. We estimate this model using a Vector Autoregression (VAR). We measure interest among the general public, the European Parliament, central banks, general interest science journals, and economics journals by creating a Climate Change Index (CCI) based on mentions of climate change in these domains. Except ...
Discussion Paper
A Peek behind the Curtain of Bank Supervision
Since the financial crisis, bank regulatory and supervisory policies have changed dramatically both in the United States (Dodd-Frank Wall Street Reform and Consumer Protection Act) and abroad (Third Basel Accord). While these shifts have occasioned much debate, the discussion surrounding supervision remains limited because most supervisory activity? both the amount of supervisory attention and the demands for corrective action by supervisors?is confidential. Drawing on our recent staff report ?Parsing the Content of Bank Supervision,? this post provides a peek behind the scenes of bank ...
Quantifying the Beige Book’s “Soft” Data
Some economists believe anecdotal findings in the Beige Book are inferior to hard economic data. This analysis suggests the report’s ‘soft’ content is actually quite firm.
Report
The Pay and Non-Pay Content of Job Ads
How informative are job ads about the actual pay and amenities offered by employers? Using a comprehensive database of job ads posted by Norwegian employers, we develop a methodology to systematically classify the information on both pay and non-pay job attributes advertised in vacancy texts. We link this information to measures of employer attractiveness, which we derive from a job search model estimated on observed wages and worker mobility flows. About 55 percent of job ads provide information related to pay and nearly all ads feature information on non-pay attributes. We show that ...