1,721,046 research outputs found
Growth-rate and uncertainty shocks in consumption: cross-country evidence
No full textWe provide new estimates of the importance of growth-rate shocks and uncertainty shocks for developed countries. The shocks we estimate are large and correspond to well-known macroeconomic episodes such as the Great Moderation and the productivity slowdown. We compare our results to earlier estimates of "long-run risks" and assess the implications for asset pricing. Our estimates yield greater return predictability and a more volatile price-dividend ratio. In addition, we can explain a substantial fraction of cross-country variation in the equity premium. An advantage of our approach, based on macroeconomic data alone, is that the parameter estimates cannot be viewed as backward engineered to fit asset pricing data. We provide intuition for our results using the recently developed framework of shock-exposure and shock-price elasticities
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Get PDF“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
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Essays in Empirical Macroeconomics
Get PDFIn this dissertation, I explore the consumption smoothing behavior of households. A key problem at the core of much of economics is how households allocate consumption over time and across states of the world: Do they borrow in lean times and save in good times? Do they save when young and dis-save when old? Do they account for future changes in income and adjust consumption right away? Studying consumption behavior at retirement and delinquencies during unemployment, I find that households cut their consumption substantially at the onset of retirement and that the sensitivity of delinquencies to unemployment appears to mostly be driven by a lack of liquidity during unemployment. Together, these results suggest that households exhibit a large degree of sensitivity to current income, a component largely ignored by state-of-the-art consumption models
Appropriate Similarity Measures for Author Cocitation Analysis
Get PDFWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
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Essays in Empirical Macroeconomics
Get PDFThis dissertation studies topical questions in empirical macroeconomics. What is the long-term aggregate effect of public investments targeting distressed regions? What was the role of demand factors in driving the increase in inflation after the COVID-19 pandemic? What is the impact of balanced budget requirements on local economic activity? From a methodological standpoint, I employ rigorous causal inference techniques borrowed from applied microeconomics to discipline macroeconomic models and derive consistent aggregate results.In the first chapter, I study the long-term, aggregate effects of regional development programs on industrial production. Between 1950 and 1992, Italy implemented one of the largest regional development programs in history to foster industrialization in its Southern regions. Exploiting three distinct identification strategies, I estimate that the big push substantially increased local manufacturing activity, with gains persisting up to 2011. At the same time, the program shifted production across regions, limiting labor reallocation from the lagging South to the industrialized Center-North. To account for crowding-out effects, I develop a multi-region growth model with public capital and factor mobility, allowing for increasing returns to scale through regional agglomeration economies. Calibrating the model to match my reduced-form estimates, I find that, despite large crowding-out effects, the program induced gains in national industrial production that outweighed its costs. These results document that big push programs can promote cost-effective structural change in distressed regions, but general equilibrium effects substantially mitigate their impact on aggregate output.In the second chapter, co-authored with Giulia Gitti, we estimate the slope of the Phillips curve before, during, and after COVID. To do so, we exploit panel variation in inflation and unemployment dynamics across US metropolitan statistical areas (MSAs), using a shift-share instrument to isolate demand-driven fluctuations in local unemployment rates. We specify a two-region New-Keynesian model to derive the slope of the aggregate Phillips curve from our MSA-level estimates. We find that the slope of the Phillips curve dropped to zero during the pandemic and more than tripled, relative to the pre-COVID era, from March 2021 onward, reaching its highest level since the mid-1970s. These estimates allow us to quantify the extent to which US post-pandemic inflation is propelled by demand factors. Demand-driven economic recovery explains around 1.4 out of the 5.6 percentage-point increase in all-items inflation observed from March 2021 to September 2022. Had the slope of the Phillips curve not steepened after COVID, the demand contribution to the rise in inflation would have been small and statistically insignificant.In the third chapter, co-authored with Francesco Filippucci and Simone Valle, we estimate short-term income multipliers stemming from budget balance requirements (BBRs). Fiscal consolidation programs often entail BBRs imposed by central governments on local governments. However, little is known about the effects of BBRs on economic activity, as most quasi-experimental estimates of local fiscal multipliers stem from windfall expansionary shocks. This paper studies the 2013 extension of a BBR to Italian municipalities below 5,000 residents. Tighter rules pushed local governments to increase their net budget surplus by 1\% of local income. Treated municipalities cut capital expenditures, rather than decreasing current expenditures or raising taxes. The estimated multiplier is not statistically different from zero and is significantly lower than 1.5, the prevailing estimate in the literature
Dispelling the Myths Behind First-author Citation Counts
Get PDFWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
koamabayili/VECTRON-author-checklist: VECTRON author checklist
No full textWe have done our best to complete the author checklist relating to the use of animals in the hut study. Note that the objective for the hut study was to evaluate the IRS treatment applications for residual efficacy against Anopheles mosquitoes, including the local An. coluzzii mosquito population. Cows were only used to attract mosquitoes into the huts and no tests were carried out directly on the cows. The author checklist is intended for use with studies where experiments are carried out on animals, which is why we have had such difficulty in completing this for the hut study, as many of the questions do not relate to how the cows were used
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