Monthly Archives: December 2013

Debt to GDP & Future Economic Growth

Posted on December 31, 2013 by ozidar

Originally posted on owenzidar:
There has been a lot of discussion today on Reinhart and Rogoff’s work on Debt to GDP & future economic growth (see Mike Konczal, Krugman, CEPR, Brad Plumer,  and the original critique from Herden, Ash, Pollin), so I…

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Local Labor Markets

Posted on December 30, 2013 by ozidar

Here are David Card’s recent notes on local labor markets.

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3 Links on Corporate Profits

Posted on December 26, 2013 by ozidar

1. Jim Tankersley writes on Boeing and state corporate tax breaks and profiles my job market paper with Juan Carlos Suárez Serrato on the welfare effects of cutting corporate taxes in an open economy 2. Enrico Moretti on the tech boom and … Continue reading →

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Arrested Development: Theory and Evidence of Supply-Side Speculation in the Housing Market

Posted on December 22, 2013 by ozidar

From Nathanson and Zwick: This paper incorporates speculation into the standard supply-and-demand framework used to analyze housing booms and busts. Speculation reverses the common intuition that elastic housing supply attenuates housing booms. Housing market frictions make land a more attractive … Continue reading →

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Economic Possibilities for Our Children: The 2013 Martin Feldstein Lecture

Posted on December 21, 2013 by ozidar

From Larry Summers: This is the 40th anniversary of the summer when I first met Marty Feldstein and went to work for him. I learned from working under Marty’s auspices that empirical economics was a profoundly important thing, that it … Continue reading →

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Slides on Thomas Picketty’s new book on Capital

Posted on December 17, 2013 by ozidar

Here are slides. HT Cardiff Garcia

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Teacher Quality Policy When Supply Matters

Posted on December 16, 2013 by ozidar

From Jesse Rothstein: Recent proposals would strengthen the dependence of teacher pay and retention on demonstrated performance. One intended effect is to attract those who will be effective teachers and repel those who will not. I model the teacher labor … Continue reading →

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Capital Market Distortions in Chinese Manufacturing

Posted on December 14, 2013 by ozidar

From Zheng Song and Guiying Wu:  Capital market distortions lower aggregate productive efficiency by misallocating resources. The existing literature infers such distortions from the dispersion of the average revenue product of capital. However, the methodology is subject to a set of identification … Continue reading →

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Housing Collateral and Entrepreneurship

Posted on December 12, 2013 by ozidar

From Martin Schmalz, David Sraer, and David Thesmar: This paper shows that collateral constraints restrict entrepreneurial activity. Our empirical strategy uses variations in local house prices as shocks to the value of col- lateral available to individuals owning a house and … Continue reading →

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The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States

Posted on December 11, 2013 by ozidar

From Karel Mertens and Morten Ravn: This paper presents evidence on the aggregate effects of changes in federal tax policy in the United States in the post-WWII sample. Exogenous changes in taxes are identified in a vector autoregressive model by proxying latent … Continue reading →

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