filename
stringlengths 18
19
| title
stringlengths 7
950
| abstract
stringlengths 105
36k
| @id
stringlengths 71
788
| sameAs
stringlengths 6
866
| text
stringlengths 285
36.2k
|
|---|---|---|---|---|---|
3A1831648407.jsonld | ['Chapter 15. Human capital development before age five'] | ['This chapter seeks to set out what economists have learned about the effects of early childhood influences on later life outcomes, and about ameliorating the effects of negative influences. We begin with a brief overview of the theory which illustrates that evidence of a causal relationship between a shock in early childhood and a future outcome says little about whether the relationship in question is biological or immutable. We then survey recent work which shows that events before five years old can have large long term impacts on adult outcomes. Child and family characteristics measured at school entry do as much to explain future outcomes as factors that labor economists have more traditionally focused on, such as years of education. Yet while children can be permanently damaged at this age, an important message is that the damage can often be remediated. We provide a brief overview of evidence regarding the effectiveness of different types of policies to provide remediation. We conclude with a list of some of the many outstanding questions for future research.'] | ['gnd:4002733-8', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648407'] | ['Arbeitsmarkt', 'Beschäftigungstheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 15. Human capital development before age five']
### Abstract:
['This chapter seeks to set out what economists have learned about the effects of early childhood influences on later life outcomes, and about ameliorating the effects of negative influences. We begin with a brief overview of the theory which illustrates that evidence of a causal relationship between a shock in early childhood and a future outcome says little about whether the relationship in question is biological or immutable. We then survey recent work which shows that events before five years old can have large long term impacts on adult outcomes. Child and family characteristics measured at school entry do as much to explain future outcomes as factors that labor economists have more traditionally focused on, such as years of education. Yet while children can be permanently damaged at this age, an important message is that the damage can often be remediated. We provide a brief overview of evidence regarding the effectiveness of different types of policies to provide remediation. We conclude with a list of some of the many outstanding questions for future research.']
### GND ID:
['gnd:4002733-8', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648407']
### GND class:
['Arbeitsmarkt', 'Beschäftigungstheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831648431.jsonld | ['Chapter 12. Skills, Tasks and Technologies: Implications for Employment and Earnings'] | ['A central organizing framework of the voluminous recent literature studying changes in the returns to skills and the evolution of earnings inequality is what we refer to as the canonical model, which elegantly and powerfully operationalizes the supply and demand for skills by assuming two distinct skill groups that perform two different and imperfectly substitutable tasks or produce two imperfectly substitutable goods. Technology is assumed to take a factor-augmenting form, which, by complementing either high or low skill workers, can generate skill biased demand shifts. In this paper, we argue that despite its notable successes, the canonical model is largely silent on a number of central empirical developments of the last three decades, including: ( 1 ) significant declines in real wages of low skill workers, particularly low skill males; ( 2 ) non-monotone changes in wages at different parts of the earnings distribution during different decades; ( 3 ) broad-based increases in employment in high skill and low skill occupations relative to middle skilled occupations (i.e., job polarization); ( 4 ) rapid diffusion of new technologies that directly substitute capital for labor in tasks previously performed by moderately skilled workers; and ( 5 ) expanding offshoring in opportunities, enabled by technology, which allow foreign labor to substitute for domestic workers specific tasks. Motivated by these patterns, we argue that it is valuable to consider a richer framework for analyzing how recent changes in the earnings and employment distribution in the United States and other advanced economies are shaped by the interactions among worker skills, job tasks, evolving technologies, and shifting trading opportunities. We propose a tractable task-based model in which the assignment of skills to tasks is endogenous and technical change may involve the substitution of machines for certain tasks previously performed by labor. We further consider how the evolution of technology in this task-based setting may be endogenized. We show how such a framework can be used to interpret several central recent trends, and we also suggest further directions for empirical exploration.'] | ['gnd:4002733-8', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648431'] | ['Arbeitsmarkt', 'Beschäftigungstheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 12. Skills, Tasks and Technologies: Implications for Employment and Earnings']
### Abstract:
['A central organizing framework of the voluminous recent literature studying changes in the returns to skills and the evolution of earnings inequality is what we refer to as the canonical model, which elegantly and powerfully operationalizes the supply and demand for skills by assuming two distinct skill groups that perform two different and imperfectly substitutable tasks or produce two imperfectly substitutable goods. Technology is assumed to take a factor-augmenting form, which, by complementing either high or low skill workers, can generate skill biased demand shifts. In this paper, we argue that despite its notable successes, the canonical model is largely silent on a number of central empirical developments of the last three decades, including: ( 1 ) significant declines in real wages of low skill workers, particularly low skill males; ( 2 ) non-monotone changes in wages at different parts of the earnings distribution during different decades; ( 3 ) broad-based increases in employment in high skill and low skill occupations relative to middle skilled occupations (i.e., job polarization); ( 4 ) rapid diffusion of new technologies that directly substitute capital for labor in tasks previously performed by moderately skilled workers; and ( 5 ) expanding offshoring in opportunities, enabled by technology, which allow foreign labor to substitute for domestic workers specific tasks. Motivated by these patterns, we argue that it is valuable to consider a richer framework for analyzing how recent changes in the earnings and employment distribution in the United States and other advanced economies are shaped by the interactions among worker skills, job tasks, evolving technologies, and shifting trading opportunities. We propose a tractable task-based model in which the assignment of skills to tasks is endogenous and technical change may involve the substitution of machines for certain tasks previously performed by labor. We further consider how the evolution of technology in this task-based setting may be endogenized. We show how such a framework can be used to interpret several central recent trends, and we also suggest further directions for empirical exploration.']
### GND ID:
['gnd:4002733-8', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648431']
### GND class:
['Arbeitsmarkt', 'Beschäftigungstheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831648466.jsonld | ['Chapter 9. Earnings, Consumption and Life Cycle Choices'] | ['We discuss recent developments in the literature that studies how the dynamics of earnings and wages affect consumption choices over the life cycle. We start by analyzing the theoretical impact of income changes on consumptionhighlighting the role of persistence, information, size and insurability of changes in economic resources. We next examine the empirical contributions, distinguishing between papers that use only income data and those that use both income and consumption data. The latter do this for two purposes. First, one can make explicit assumptions about the structure of credit and insurance markets and identify the income process or the information set of the individuals. Second, one can assume that the income process or the amount of information that consumers have are known and test the implications of the theory. In general there is an identification issue that has only recently being addressed with better data or better experiments. We conclude with a discussion of the literature that endogenizes peoples earnings and therefore change the nature of risk faced by households.'] | ['gnd:4002733-8', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648466'] | ['Arbeitsmarkt', 'Beschäftigungstheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 9. Earnings, Consumption and Life Cycle Choices']
### Abstract:
['We discuss recent developments in the literature that studies how the dynamics of earnings and wages affect consumption choices over the life cycle. We start by analyzing the theoretical impact of income changes on consumptionhighlighting the role of persistence, information, size and insurability of changes in economic resources. We next examine the empirical contributions, distinguishing between papers that use only income data and those that use both income and consumption data. The latter do this for two purposes. First, one can make explicit assumptions about the structure of credit and insurance markets and identify the income process or the information set of the individuals. Second, one can assume that the income process or the amount of information that consumers have are known and test the implications of the theory. In general there is an identification issue that has only recently being addressed with better data or better experiments. We conclude with a discussion of the literature that endogenizes peoples earnings and therefore change the nature of risk faced by households.']
### GND ID:
['gnd:4002733-8', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648466']
### GND class:
['Arbeitsmarkt', 'Beschäftigungstheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831648539.jsonld | ['Subject Index to Volume 4B'] | ['This chapter highlights the terms and methods that have been used and explained in this publication titled Handbook of Labor Economics , volume 4B. The chapter also highlights the page numbers where these have been used.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648539'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Subject Index to Volume 4B']
### Abstract:
['This chapter highlights the terms and methods that have been used and explained in this publication titled Handbook of Labor Economics , volume 4B. The chapter also highlights the page numbers where these have been used.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648539']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831648547.jsonld | ['Subject Index to Volume 4A'] | ['This chapter highlights the terms and methods that have been used and explained in this publication titled Handbook of Labor Economics , volume 4A. The chapter also highlights the page numbers where these have been used.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648547'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Subject Index to Volume 4A']
### Abstract:
['This chapter highlights the terms and methods that have been used and explained in this publication titled Handbook of Labor Economics , volume 4A. The chapter also highlights the page numbers where these have been used.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648547']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831648555.jsonld | ['Chapter 7. Search in Macroeconomic Models of the Labor Market'] | ['This chapter assesses how models with search frictions have shaped our understanding of aggregate labor market outcomes in two contexts: business cycle fluctuations and long-run (trend) changes. We first consolidate data on aggregate labor market outcomes for a large set of OECD countries. We then ask how models with search improve our understanding of these data. Our results are mixed. Search models are useful for interpreting the behavior of some additional data series, but search frictions per se do not seem to improve our understanding of movements in total hours at either business cycle frequencies or in the long-run. Still, models with search seem promising as a framework for understanding how different wage setting processes affect aggregate labor market outcomes.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648555'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 7. Search in Macroeconomic Models of the Labor Market']
### Abstract:
['This chapter assesses how models with search frictions have shaped our understanding of aggregate labor market outcomes in two contexts: business cycle fluctuations and long-run (trend) changes. We first consolidate data on aggregate labor market outcomes for a large set of OECD countries. We then ask how models with search improve our understanding of these data. Our results are mixed. Search models are useful for interpreting the behavior of some additional data series, but search frictions per se do not seem to improve our understanding of movements in total hours at either business cycle frequencies or in the long-run. Still, models with search seem promising as a framework for understanding how different wage setting processes affect aggregate labor market outcomes.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648555']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831648563.jsonld | ['Chapter 6. Identification of Models of the Labor Market'] | ['This chapter discusses identification of common selection models of the labor market. We start with the classic Roy model and show how it can be identified with exclusion restrictions. We then extend the argument to the generalized Roy model, treatment effect models, duration models, search models, and dynamic discrete choice models. In all cases, key ingredients for identification are exclusion restrictions and support conditions.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648563'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 6. Identification of Models of the Labor Market']
### Abstract:
['This chapter discusses identification of common selection models of the labor market. We start with the classic Roy model and show how it can be identified with exclusion restrictions. We then extend the argument to the generalized Roy model, treatment effect models, duration models, search models, and dynamic discrete choice models. In all cases, key ingredients for identification are exclusion restrictions and support conditions.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648563']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831648571.jsonld | ['Chapter 5. Program Evaluation and Research Designs'] | ['This chapter provides a selective review of some contemporary approaches to program evaluation. One motivation for our review is the recent emergence and increasing use of a particular kind of “program” in applied microeconomic research, the so-called Regression Discontinuity (RD) Design of Thistlethwaite and Campbell (1960) . We organize our discussion of these various research designs by how they secure internal validity: in this view, the RD design can been seen as a close “cousin” of the randomized experiment. An important distinction which emerges from our discussion of “heterogeneous treatment effects” is between ex post (descriptive) and ex ante (predictive) evaluations; these two types of evaluations have distinct, but complementary goals. A second important distinction we make is between statistical statements that are descriptions of our knowledge of the program assignment process and statistical statements that are structural assumptions about individual behavior. Using these distinctions, we examine some commonly employed evaluation strategies, and assess them with a common set of criteria for “internal validity”, the foremost goal of an ex post evaluation. In some cases, we also provide some concrete illustrations of how internally valid causal estimates can be supplemented with specific structural assumptions to address “external validity”: the estimate from an internally valid “experimental” estimate can be viewed as a “leading term” in an extrapolation for a parameter of interest in an ex ante evaluation.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648571'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 5. Program Evaluation and Research Designs']
### Abstract:
['This chapter provides a selective review of some contemporary approaches to program evaluation. One motivation for our review is the recent emergence and increasing use of a particular kind of “program” in applied microeconomic research, the so-called Regression Discontinuity (RD) Design of Thistlethwaite and Campbell (1960) . We organize our discussion of these various research designs by how they secure internal validity: in this view, the RD design can been seen as a close “cousin” of the randomized experiment. An important distinction which emerges from our discussion of “heterogeneous treatment effects” is between ex post (descriptive) and ex ante (predictive) evaluations; these two types of evaluations have distinct, but complementary goals. A second important distinction we make is between statistical statements that are descriptions of our knowledge of the program assignment process and statistical statements that are structural assumptions about individual behavior. Using these distinctions, we examine some commonly employed evaluation strategies, and assess them with a common set of criteria for “internal validity”, the foremost goal of an ex post evaluation. In some cases, we also provide some concrete illustrations of how internally valid causal estimates can be supplemented with specific structural assumptions to address “external validity”: the estimate from an internally valid “experimental” estimate can be viewed as a “leading term” in an extrapolation for a parameter of interest in an ex ante evaluation.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648571']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831648601.jsonld | ['Chapter 2. Field Experiments in Labor Economics'] | ['We overview the use of field experiments in labor economics. We showcase studies that highlight the central advantages of this methodology, which include: (i) using economic theory to design the null and alternative hypotheses; (ii) engineering exogenous variation in real world economic environments to establish causal relations and learn about the underlying mechanisms; and (iii) engaging in primary data collection and often working closely with practitioners. To highlight the potential for field experiments to inform issues in labor economics, we organize our discussion around the individual life cycle. We therefore consider field experiments related to the accumulation of human capital, the demand and supply of labor, and behavior within firms, and close with a brief discussion of the nascent literature of field experiments related to household decision making.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648601'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 2. Field Experiments in Labor Economics']
### Abstract:
['We overview the use of field experiments in labor economics. We showcase studies that highlight the central advantages of this methodology, which include: (i) using economic theory to design the null and alternative hypotheses; (ii) engineering exogenous variation in real world economic environments to establish causal relations and learn about the underlying mechanisms; and (iii) engaging in primary data collection and often working closely with practitioners. To highlight the potential for field experiments to inform issues in labor economics, we organize our discussion around the individual life cycle. We therefore consider field experiments related to the accumulation of human capital, the demand and supply of labor, and behavior within firms, and close with a brief discussion of the nascent literature of field experiments related to household decision making.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648601']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A183164861X.jsonld | ['Chapter 1. Decomposition Methods in Economics'] | ['This chapter provides a comprehensive overview of decomposition methods that have been developed since the seminal work of Oaxaca and Blinder in the early 1970s. These methods are used to decompose the difference in a distributional statistic between two groups, or its change over time, into various explanatory factors. While the original work of Oaxaca and Blinder considered the case of the mean, our main focus is on other distributional statistics besides the mean, such as quantiles, the Gini coefficient or the variance. We discuss the assumptions required for identifying the different elements of the decomposition, as well as various estimation methods proposed in the literature. We also illustrate how these methods work in practice by discussing existing applications and working through a set of empirical examples throughout the paper.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164861X'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 1. Decomposition Methods in Economics']
### Abstract:
['This chapter provides a comprehensive overview of decomposition methods that have been developed since the seminal work of Oaxaca and Blinder in the early 1970s. These methods are used to decompose the difference in a distributional statistic between two groups, or its change over time, into various explanatory factors. While the original work of Oaxaca and Blinder considered the case of the mean, our main focus is on other distributional statistics besides the mean, such as quantiles, the Gini coefficient or the variance. We discuss the assumptions required for identifying the different elements of the decomposition, as well as various estimation methods proposed in the literature. We also illustrate how these methods work in practice by discussing existing applications and working through a set of empirical examples throughout the paper.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164861X']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831648857.jsonld | ['Subject Index of Volumes 1 and 2'] | ['This chapter lists the terms that have contributed to the book Economics of Innovation , Volume 1 and 2 , such as academic patenting, acquisition policy, agglomeration economy, and others. These terms have been mentioned along with the page numbers on which they have appeared in the book舒for the ease of the reader.'] | ['gnd:4059252-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648857'] | ['Technischer Fortschritt'] | Document
### Title: ['Subject Index of Volumes 1 and 2']
### Abstract:
['This chapter lists the terms that have contributed to the book Economics of Innovation , Volume 1 and 2 , such as academic patenting, acquisition policy, agglomeration economy, and others. These terms have been mentioned along with the page numbers on which they have appeared in the book舒for the ease of the reader.']
### GND ID:
['gnd:4059252-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648857']
### GND class:
['Technischer Fortschritt']
<|eot_id|> |
3A1831648873.jsonld | ['Introduction to the Series'] | ['Handbooks in Economics series comprises handbooks for various branches of economics, each of which is a definitive source, reference, and teaching supplement for use by professional researchers and advanced graduate students. Each Handbook of the series provides self-contained surveys of the current state of a branch of economics in the form of chapters prepared by leading specialists on various aspects of this branch of economics. These surveys summarize not only received results, but also newer developments, from recent journal articles and discussion papers. Some original material is also included, but the main goal is to provide comprehensive and accessible surveys.'] | ['gnd:4059252-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648873'] | ['Technischer Fortschritt'] | Document
### Title: ['Introduction to the Series']
### Abstract:
['Handbooks in Economics series comprises handbooks for various branches of economics, each of which is a definitive source, reference, and teaching supplement for use by professional researchers and advanced graduate students. Each Handbook of the series provides self-contained surveys of the current state of a branch of economics in the form of chapters prepared by leading specialists on various aspects of this branch of economics. These surveys summarize not only received results, but also newer developments, from recent journal articles and discussion papers. Some original material is also included, but the main goal is to provide comprehensive and accessible surveys.']
### GND ID:
['gnd:4059252-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648873']
### GND class:
['Technischer Fortschritt']
<|eot_id|> |
3A1831648903.jsonld | ['Chapter 15. The Market for Technology'] | ['This chapter reviews the growing literature on the “market for technology,” a broad term that denotes trade in technology disembodied from physical goods. The market for technology flourished during the nineteenth century in the United States. After several decades of relative decline, the market for technology has once again grown considerably in recent years, although the growth is uneven across sectors and across countries. Thus far, the literature has paid most attention to the supply of technology, and on the efficiency of market transactions in technology. A key contribution has been that the decision of firms to license depends on whether the revenues from licensing are higher than the rent-dissipation effect produced by increased competition in the licensor’s product markets. The literature has featured several factors that condition the tradeoff between licensing revenue and rent dissipation. For instance, general-purpose technologies enable the potential licensors to sell technology in product markets distant from the product operations of the licensors, and thus are more likely to be licensed. Another stream of research has focused on the factors, such as intellectual property protection, that condition the efficiency of licensing contracts. The study of the demand for external technology is less developed, and is an open area for future research. Another exciting area for future research is the relationship between the product market and the market for technology, of which a special but important case is the division of labor between technology specialists such as biotech firms, and their customers downstream, in this instance, pharmaceutical firms. The area in the most urgent need of attention is research on the consequences of the market of technology, on the rate and direction of inventive activity, and on productivity growth. This will also require a deeper understanding of the microfoundations of the market for technology.'] | ['gnd:4059252-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648903'] | ['Technischer Fortschritt'] | Document
### Title: ['Chapter 15. The Market for Technology']
### Abstract:
['This chapter reviews the growing literature on the “market for technology,” a broad term that denotes trade in technology disembodied from physical goods. The market for technology flourished during the nineteenth century in the United States. After several decades of relative decline, the market for technology has once again grown considerably in recent years, although the growth is uneven across sectors and across countries. Thus far, the literature has paid most attention to the supply of technology, and on the efficiency of market transactions in technology. A key contribution has been that the decision of firms to license depends on whether the revenues from licensing are higher than the rent-dissipation effect produced by increased competition in the licensor’s product markets. The literature has featured several factors that condition the tradeoff between licensing revenue and rent dissipation. For instance, general-purpose technologies enable the potential licensors to sell technology in product markets distant from the product operations of the licensors, and thus are more likely to be licensed. Another stream of research has focused on the factors, such as intellectual property protection, that condition the efficiency of licensing contracts. The study of the demand for external technology is less developed, and is an open area for future research. Another exciting area for future research is the relationship between the product market and the market for technology, of which a special but important case is the division of labor between technology specialists such as biotech firms, and their customers downstream, in this instance, pharmaceutical firms. The area in the most urgent need of attention is research on the consequences of the market of technology, on the rate and direction of inventive activity, and on productivity growth. This will also require a deeper understanding of the microfoundations of the market for technology.']
### GND ID:
['gnd:4059252-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648903']
### GND class:
['Technischer Fortschritt']
<|eot_id|> |
3A1831648938.jsonld | ['Chapter 12. Pharmaceutical Innovation'] | ['This chapter surveys the costs, risks, and challenges encountered in the progressive discovery and development of new pharmaceuticals. The changing methods by which drugs are discovered, the links between companies and academic science, the changing character of public regulation, and the sharp rise in the cost per new approved drug are analyzed. Determining which new drugs are both efficacious and safe poses classic statistical decision theory problems. Why patents are so important to drug developers is explored. A rent-seeking theory of new drug development is proposed to rationalize the high gross margins but only slightly supranormal returns on investment realized by pharmaceutical companies, and the puzzling economic welfare implications are investigated.'] | ['gnd:4059252-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648938'] | ['Technischer Fortschritt'] | Document
### Title: ['Chapter 12. Pharmaceutical Innovation']
### Abstract:
['This chapter surveys the costs, risks, and challenges encountered in the progressive discovery and development of new pharmaceuticals. The changing methods by which drugs are discovered, the links between companies and academic science, the changing character of public regulation, and the sharp rise in the cost per new approved drug are analyzed. Determining which new drugs are both efficacious and safe poses classic statistical decision theory problems. Why patents are so important to drug developers is explored. A rent-seeking theory of new drug development is proposed to rationalize the high gross margins but only slightly supranormal returns on investment realized by pharmaceutical companies, and the puzzling economic welfare implications are investigated.']
### GND ID:
['gnd:4059252-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648938']
### GND class:
['Technischer Fortschritt']
<|eot_id|> |
3A1831648989.jsonld | ['Chapter 7. Property Rights and Invention'] | ['We present a selective survey of the economic theory of intellectual property rights. After a brief description of the institutional framework, we discuss policy objectives and some basic welfare tradeoffs in intellectual property design. We consider the extent to which social objectives can be attained without intellectual property protection before passing on to intellectual property right design. We derive conclusions in the simplest, one-time innovation, case then investigate how these conclusions change when innovations build on each other or fit together as complements. Modifications of existing protection and optimal procurement of innovation are considered. Finally, we sketch enforcement and competition policy issues.'] | ['gnd:4059252-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648989'] | ['Technischer Fortschritt'] | Document
### Title: ['Chapter 7. Property Rights and Invention']
### Abstract:
['We present a selective survey of the economic theory of intellectual property rights. After a brief description of the institutional framework, we discuss policy objectives and some basic welfare tradeoffs in intellectual property design. We consider the extent to which social objectives can be attained without intellectual property protection before passing on to intellectual property right design. We derive conclusions in the simplest, one-time innovation, case then investigate how these conclusions change when innovations build on each other or fit together as complements. Modifications of existing protection and optimal procurement of innovation are considered. Finally, we sketch enforcement and competition policy issues.']
### GND ID:
['gnd:4059252-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648989']
### GND class:
['Technischer Fortschritt']
<|eot_id|> |
3A1831649012.jsonld | ['Chapter 4. Fifty Years of Empirical Studies of Innovative Activity and Performance'] | ['This chapter reviews the empirical literature on the determination of firms’ and industries’ innovative activity and performance, highlighting the questions addressed, the approaches adopted, impediments to progress in the field, and research opportunities. We review the “neo-Schumpeterian” empirical literature that examines the effects of firm size and market concentration upon innovation, focusing on robust findings, questions of interpretation, and the identification of major gaps. We also consider the more modest literature that considers the effect on innovation of firm characteristics other than size. Finally, we review the literature that considers three classes of factors that affect interindustry variation in innovative activity and performance: demand, appropriability, and technological opportunity conditions.'] | ['gnd:4059252-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649012'] | ['Technischer Fortschritt'] | Document
### Title: ['Chapter 4. Fifty Years of Empirical Studies of Innovative Activity and Performance']
### Abstract:
['This chapter reviews the empirical literature on the determination of firms’ and industries’ innovative activity and performance, highlighting the questions addressed, the approaches adopted, impediments to progress in the field, and research opportunities. We review the “neo-Schumpeterian” empirical literature that examines the effects of firm size and market concentration upon innovation, focusing on robust findings, questions of interpretation, and the identification of major gaps. We also consider the more modest literature that considers the effect on innovation of firm characteristics other than size. Finally, we review the literature that considers three classes of factors that affect interindustry variation in innovative activity and performance: demand, appropriability, and technological opportunity conditions.']
### GND ID:
['gnd:4059252-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649012']
### GND class:
['Technischer Fortschritt']
<|eot_id|> |
3A1831649020.jsonld | ['Chapter 3. Technical Change and Industrial Dynamics as Evolutionary Processes'] | ['This chapter reviews and integrates much of what has been learned on the processes of technological evolution, their main features, and their effects on the evolution of industries. First, we map and integrate the various pieces of evidence concerning the nature and structure of technological knowledge, the sources of novel opportunities, the dynamics through which they are tapped, and the revealed outcomes in terms of advances in production techniques and product characteristics. Explicit recognition of the evolutionary manners through which technological change proceeds has also profound implications for the way economists theorize about and analyze a number of topics central to the discipline. One is the theory of the firm in industries where technological and organizational innovation is important. Indeed a large literature has grown up on this topic, addressing the nature of the technological and organizational capabilities which business firms embody and the ways they evolve over time. Another domain concerns the nature of competition in such industries, wherein innovation and diffusion affect growth and survival probabilities of heterogeneous firms. The processes of knowledge accumulation and diffusion involve winners and losers, changing distributions of competitive abilities across different firms, and, with that, changing industrial structures. Both the sector-specific characteristics of technologies and their degrees of maturity over their life cycles influence the patterns of industrial organization—including size distributions, degrees of concentration, relative importance of incumbents and entrants, etc. This is the second set of topics which we address. Finally, in the conclusions we briefly flag some fundamental aspects of economic growth and development as an innovation-driven evolutionary process.'] | ['gnd:4059252-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649020'] | ['Technischer Fortschritt'] | Document
### Title: ['Chapter 3. Technical Change and Industrial Dynamics as Evolutionary Processes']
### Abstract:
['This chapter reviews and integrates much of what has been learned on the processes of technological evolution, their main features, and their effects on the evolution of industries. First, we map and integrate the various pieces of evidence concerning the nature and structure of technological knowledge, the sources of novel opportunities, the dynamics through which they are tapped, and the revealed outcomes in terms of advances in production techniques and product characteristics. Explicit recognition of the evolutionary manners through which technological change proceeds has also profound implications for the way economists theorize about and analyze a number of topics central to the discipline. One is the theory of the firm in industries where technological and organizational innovation is important. Indeed a large literature has grown up on this topic, addressing the nature of the technological and organizational capabilities which business firms embody and the ways they evolve over time. Another domain concerns the nature of competition in such industries, wherein innovation and diffusion affect growth and survival probabilities of heterogeneous firms. The processes of knowledge accumulation and diffusion involve winners and losers, changing distributions of competitive abilities across different firms, and, with that, changing industrial structures. Both the sector-specific characteristics of technologies and their degrees of maturity over their life cycles influence the patterns of industrial organization—including size distributions, degrees of concentration, relative importance of incumbents and entrants, etc. This is the second set of topics which we address. Finally, in the conclusions we briefly flag some fundamental aspects of economic growth and development as an innovation-driven evolutionary process.']
### GND ID:
['gnd:4059252-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649020']
### GND class:
['Technischer Fortschritt']
<|eot_id|> |
3A1831649039.jsonld | ['Chapter 2. The Contribution of Economic History to the Study of Innovation and Technical Change: 1750–1914'] | ['This chapter surveys the history of modern economic growth and suggests a number of mechanisms that drove the unprecedented technological thrust that account for the discontinuities of economic modernity. The Industrial Revolution and the subsequent developments did not just raise the level of technological capabilities; they changed the entire dynamics of how innovation comes about and the speeds of both invention and diffusion. For much of human history, innovation had been primarily a byproduct of normal economic activity, punctuated by periodical flashing insight that produced a macroinvention, such as water mills or the printing press. The mechanisms that account for innovation becoming a routine activity in terms of the production of useful knowledge are reviewed and linked to the “Baconian program” advocated by the eighteenth-century Enlightenment.'] | ['gnd:4059252-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649039'] | ['Technischer Fortschritt'] | Document
### Title: ['Chapter 2. The Contribution of Economic History to the Study of Innovation and Technical Change: 1750–1914']
### Abstract:
['This chapter surveys the history of modern economic growth and suggests a number of mechanisms that drove the unprecedented technological thrust that account for the discontinuities of economic modernity. The Industrial Revolution and the subsequent developments did not just raise the level of technological capabilities; they changed the entire dynamics of how innovation comes about and the speeds of both invention and diffusion. For much of human history, innovation had been primarily a byproduct of normal economic activity, punctuated by periodical flashing insight that produced a macroinvention, such as water mills or the printing press. The mechanisms that account for innovation becoming a routine activity in terms of the production of useful knowledge are reviewed and linked to the “Baconian program” advocated by the eighteenth-century Enlightenment.']
### GND ID:
['gnd:4059252-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649039']
### GND class:
['Technischer Fortschritt']
<|eot_id|> |
3A1831649047.jsonld | ['Chapter 1. Introduction to the Handbook'] | ['In the chapters of the book Economics of Innovation , Volume 1 , it is clear that this basic understanding of the importance of internally generated economic change for the progress of the economy and the weaknesses of static economic analysis in the face of this phenomenon occupies much of the research in innovation economics. A number of themes common to at least several of the chapters touch on this and related ideas. The first and perhaps the most important theme is the essential dynamism of the innovative process舒knowledge, inventions, and innovations created today build on those created in the past, and the benefits of an innovation are often not felt until it undergoes a dynamic, cumulative learning and diffusion process. An understanding of this phenomenon underlies almost all of the chapters and is perhaps most obvious in those by Thompson on learning by doing, Bresnahan on general-purpose technologies, Teece on the innovative firm, and Stoneman and Battista on diffusion.'] | ['gnd:4059252-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649047'] | ['Technischer Fortschritt'] | Document
### Title: ['Chapter 1. Introduction to the Handbook']
### Abstract:
['In the chapters of the book Economics of Innovation , Volume 1 , it is clear that this basic understanding of the importance of internally generated economic change for the progress of the economy and the weaknesses of static economic analysis in the face of this phenomenon occupies much of the research in innovation economics. A number of themes common to at least several of the chapters touch on this and related ideas. The first and perhaps the most important theme is the essential dynamism of the innovative process舒knowledge, inventions, and innovations created today build on those created in the past, and the benefits of an innovation are often not felt until it undergoes a dynamic, cumulative learning and diffusion process. An understanding of this phenomenon underlies almost all of the chapters and is perhaps most obvious in those by Thompson on learning by doing, Bresnahan on general-purpose technologies, Teece on the innovative firm, and Stoneman and Battista on diffusion.']
### GND ID:
['gnd:4059252-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649047']
### GND class:
['Technischer Fortschritt']
<|eot_id|> |
3A1831649063.jsonld | ['Preface'] | ['The series Handbook of Social Choice and Welfare presents, in two volumes, essays on past and ongoing work in social choice theory and welfare economics. The first volume, which consists of twelve chapters in four partsPart I ( Arrovian Impossibility Theorems ), Part II ( Voting Schemes and Mechanisms ), Part III ( Structure of Social Choice Rules ), and Part IV ( Welfare, Justice, and Poverty )was published in 2002. This is the long overdue second volume of the handbook, which also consists of four parts. In Part V ( Foundations ), some very basic issues in welfare economics and social choice theory are discussed. The topics covered include the initial insights behind and the basic functions of social choice theory, the informational basis of normative and positive social choice theory, the status of competitive market mechanisms as social choice procedures, and the main ingredients of nonwelfaristic approaches in welfare economics and social choice theory along the line of the theory of functioning and capabilities.'] | ['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649063'] | ['Kollektiventscheidung', 'Wohlfahrtstheorie'] | Document
### Title: ['Preface']
### Abstract:
['The series Handbook of Social Choice and Welfare presents, in two volumes, essays on past and ongoing work in social choice theory and welfare economics. The first volume, which consists of twelve chapters in four partsPart I ( Arrovian Impossibility Theorems ), Part II ( Voting Schemes and Mechanisms ), Part III ( Structure of Social Choice Rules ), and Part IV ( Welfare, Justice, and Poverty )was published in 2002. This is the long overdue second volume of the handbook, which also consists of four parts. In Part V ( Foundations ), some very basic issues in welfare economics and social choice theory are discussed. The topics covered include the initial insights behind and the basic functions of social choice theory, the informational basis of normative and positive social choice theory, the status of competitive market mechanisms as social choice procedures, and the main ingredients of nonwelfaristic approaches in welfare economics and social choice theory along the line of the theory of functioning and capabilities.']
### GND ID:
['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649063']
### GND class:
['Kollektiventscheidung', 'Wohlfahrtstheorie']
<|eot_id|> |
3A1831649098.jsonld | ['Index'] | ['This chapter lists the terms that have contributed to the book Handbook of Social Choice and Welfare , such as absolute loser paradox, acyclic priority profile, aggregate interiority function, and others. These terms have been mentioned along with the page numbers in which they have appeared in the bookfor the ease of the reader.'] | ['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649098'] | ['Kollektiventscheidung', 'Wohlfahrtstheorie'] | Document
### Title: ['Index']
### Abstract:
['This chapter lists the terms that have contributed to the book Handbook of Social Choice and Welfare , such as absolute loser paradox, acyclic priority profile, aggregate interiority function, and others. These terms have been mentioned along with the page numbers in which they have appeared in the bookfor the ease of the reader.']
### GND ID:
['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649098']
### GND class:
['Kollektiventscheidung', 'Wohlfahrtstheorie']
<|eot_id|> |
3A1831649101.jsonld | ['Chapter Twenty-Seven. Geometry of Voting'] | ["It is shown how simple geometry can be used to analyze and discover new properties about pairwise and positional voting rules as well as for those rules (e.g., runoffs and Approval Voting) that rely on these methods. The description starts by providing a geometric way to depict profiles, which simplifies the computation of the election outcomes. This geometry is then used to motivate the development of a “profile coordinate system,” which evolves into a tool to analyze voting rules. This tool, for instance, completely explains various longstanding “paradoxes,” such as why a Condorcet winner need not be elected with certain voting rules. A different geometry is developed to indicate whether certain voting “oddities” can be dismissed or must be taken seriously, and to explain why other mysteries, such as strategic voting and the no-show paradox (where a voter is rewarded by not voting), arise. Still another use of geometry extends McGarvey's Theorem about possible pairwise election rankings to identify the actual tallies that can arise (a result that is needed to analyze supermajority voting). Geometry is also developed to identify all possible positional and Approval Voting election outcomes that are admitted by a given profile; the converse becomes a geometric tool that can be used to discover new election relationships. Finally, it is shown how lessons learned in social choice, such as the seminal Arrow's and Sen's Theorems and the expanding literature about the properties of positional rules, provide insights into difficulties that are experienced by other disciplines."] | ['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649101'] | ['Kollektiventscheidung', 'Wohlfahrtstheorie'] | Document
### Title: ['Chapter Twenty-Seven. Geometry of Voting']
### Abstract:
["It is shown how simple geometry can be used to analyze and discover new properties about pairwise and positional voting rules as well as for those rules (e.g., runoffs and Approval Voting) that rely on these methods. The description starts by providing a geometric way to depict profiles, which simplifies the computation of the election outcomes. This geometry is then used to motivate the development of a “profile coordinate system,” which evolves into a tool to analyze voting rules. This tool, for instance, completely explains various longstanding “paradoxes,” such as why a Condorcet winner need not be elected with certain voting rules. A different geometry is developed to indicate whether certain voting “oddities” can be dismissed or must be taken seriously, and to explain why other mysteries, such as strategic voting and the no-show paradox (where a voter is rewarded by not voting), arise. Still another use of geometry extends McGarvey's Theorem about possible pairwise election rankings to identify the actual tallies that can arise (a result that is needed to analyze supermajority voting). Geometry is also developed to identify all possible positional and Approval Voting election outcomes that are admitted by a given profile; the converse becomes a geometric tool that can be used to discover new election relationships. Finally, it is shown how lessons learned in social choice, such as the seminal Arrow's and Sen's Theorems and the expanding literature about the properties of positional rules, provide insights into difficulties that are experienced by other disciplines."]
### GND ID:
['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649101']
### GND class:
['Kollektiventscheidung', 'Wohlfahrtstheorie']
<|eot_id|> |
3A183164911X.jsonld | ['Chapter Twenty-Six. Probabilistic and Spatial Models of Voting'] | ['This chapter discusses results about committees that use majority rule, some related results about majority rule as a social choice rule (that is, without referring to a specific context where majority rule is used), and results about electoral competitions where the winner is selected by majority rule.'] | ['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164911X'] | ['Kollektiventscheidung', 'Wohlfahrtstheorie'] | Document
### Title: ['Chapter Twenty-Six. Probabilistic and Spatial Models of Voting']
### Abstract:
['This chapter discusses results about committees that use majority rule, some related results about majority rule as a social choice rule (that is, without referring to a specific context where majority rule is used), and results about electoral competitions where the winner is selected by majority rule.']
### GND ID:
['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164911X']
### GND class:
['Kollektiventscheidung', 'Wohlfahrtstheorie']
<|eot_id|> |
3A1831649128.jsonld | ['Chapter Twenty-Five. Strategyproof Social Choice'] | ['This chapter surveys the literature on strategy proofness from a historical perspective. While I discuss the connections with other works on incentives in mechanism design, the main emphasis is on social choice models.'] | ['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649128'] | ['Kollektiventscheidung', 'Wohlfahrtstheorie'] | Document
### Title: ['Chapter Twenty-Five. Strategyproof Social Choice']
### Abstract:
['This chapter surveys the literature on strategy proofness from a historical perspective. While I discuss the connections with other works on incentives in mechanism design, the main emphasis is on social choice models.']
### GND ID:
['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649128']
### GND class:
['Kollektiventscheidung', 'Wohlfahrtstheorie']
<|eot_id|> |
3A1831649144.jsonld | ['Chapter Twenty-Three. Welfarism, Individual Rights, and Procedural Fairness'] | ["Ever since Sen crystallized the logical conflict between the welfaristic value of the Pareto principle and the nonwelfaristic value of individual libertarian rights into what he christened the impossibility of a Paretian liberal , there have been many attempts in social choice theory to generalize, or to repudiate, the conflict between welfare and rights. This chapter focuses on this logical conflict and tries to find a way of balancing these two important values in human well-being. We will identify three issues in this line of research, viz., the formal articulation of rights , the social realization of rights , and the initial conferment of rights . We will also examine the sustainability of Sen's concept of individual rights and examine the game form articulation of individual rights as a viable alternative to Sen's proposed concept."] | ['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649144'] | ['Kollektiventscheidung', 'Wohlfahrtstheorie'] | Document
### Title: ['Chapter Twenty-Three. Welfarism, Individual Rights, and Procedural Fairness']
### Abstract:
["Ever since Sen crystallized the logical conflict between the welfaristic value of the Pareto principle and the nonwelfaristic value of individual libertarian rights into what he christened the impossibility of a Paretian liberal , there have been many attempts in social choice theory to generalize, or to repudiate, the conflict between welfare and rights. This chapter focuses on this logical conflict and tries to find a way of balancing these two important values in human well-being. We will identify three issues in this line of research, viz., the formal articulation of rights , the social realization of rights , and the initial conferment of rights . We will also examine the sustainability of Sen's concept of individual rights and examine the game form articulation of individual rights as a viable alternative to Sen's proposed concept."]
### GND ID:
['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649144']
### GND class:
['Kollektiventscheidung', 'Wohlfahrtstheorie']
<|eot_id|> |
3A1831649152.jsonld | ['Chapter Twenty-Two. Compensation and Responsibilityprotect'] | ['Many distributive issues involve situations in which initial characteristics make individuals unequal. In view of prevailing moral sentiments, some of these characteristics call for compensating transfers, and some do not. We study the literature on this problem of compensation. This literature follows the distinction between the ethical principle of compensation and that of responsibility. According to the former, a good resource allocation system should neutralize the differential influence over agents’ outcomes of the characteristics that elicit compensation. According to the latter, a good resource allocation system should remain neutral with respect to inequality arising from the influence of characteristics that do not elicit compensation. The principle of responsibility can be interpreted as a libertarian principle of natural reward, or as a principle of utilitarian reward. Depending on whether the emphasis is put on the principle of compensation or of responsibility, and depending on how the latter is interpreted, there exist four main families of solutions to compensation problems. We review the axiomatic analyses of these four families of solutions in the different models in which they have been studied. We also review the applications that have been made of these solutions to problems of income taxation, education investment, social mobility and health insurance systems.'] | ['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649152'] | ['Kollektiventscheidung', 'Wohlfahrtstheorie'] | Document
### Title: ['Chapter Twenty-Two. Compensation and Responsibilityprotect']
### Abstract:
['Many distributive issues involve situations in which initial characteristics make individuals unequal. In view of prevailing moral sentiments, some of these characteristics call for compensating transfers, and some do not. We study the literature on this problem of compensation. This literature follows the distinction between the ethical principle of compensation and that of responsibility. According to the former, a good resource allocation system should neutralize the differential influence over agents’ outcomes of the characteristics that elicit compensation. According to the latter, a good resource allocation system should remain neutral with respect to inequality arising from the influence of characteristics that do not elicit compensation. The principle of responsibility can be interpreted as a libertarian principle of natural reward, or as a principle of utilitarian reward. Depending on whether the emphasis is put on the principle of compensation or of responsibility, and depending on how the latter is interpreted, there exist four main families of solutions to compensation problems. We review the axiomatic analyses of these four families of solutions in the different models in which they have been studied. We also review the applications that have been made of these solutions to problems of income taxation, education investment, social mobility and health insurance systems.']
### GND ID:
['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649152']
### GND class:
['Kollektiventscheidung', 'Wohlfahrtstheorie']
<|eot_id|> |
3A1831649195.jsonld | ['Chapter Eighteen. Topological Theories of Social Choice'] | ["This chapter presents a simple introduction to the main results in topological social choice theory. Given a continuous social welfare function, these results show the following: (i) Unanimity and Anonymity are incompatible; (ii) Weak Pareto and No Veto are incompatible; and (iii) Weak Pareto implies the existence of a Strategic Manipulator. Given the role of continuity in all these results, its justification is critically discussed. Finally, a remarkable proof of Arrow's theorem using topological methods is presented."] | ['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649195'] | ['Kollektiventscheidung', 'Wohlfahrtstheorie'] | Document
### Title: ['Chapter Eighteen. Topological Theories of Social Choice']
### Abstract:
["This chapter presents a simple introduction to the main results in topological social choice theory. Given a continuous social welfare function, these results show the following: (i) Unanimity and Anonymity are incompatible; (ii) Weak Pareto and No Veto are incompatible; and (iii) Weak Pareto implies the existence of a Strategic Manipulator. Given the role of continuity in all these results, its justification is critically discussed. Finally, a remarkable proof of Arrow's theorem using topological methods is presented."]
### GND ID:
['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649195']
### GND class:
['Kollektiventscheidung', 'Wohlfahrtstheorie']
<|eot_id|> |
3A1831649209.jsonld | ['Chapter Seventeen. Arrovian Social Choice Theory on Economic Domains'] | ["This article surveys the literature that investigates the consistency of Arrow's social choice axioms when his unrestricted domain assumptions are replaced by domain conditions that incorporate the restrictions on agendas and preferences encountered in economic environments. Both social welfare functions and social choice correspondences are considered."] | ['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649209'] | ['Kollektiventscheidung', 'Wohlfahrtstheorie'] | Document
### Title: ['Chapter Seventeen. Arrovian Social Choice Theory on Economic Domains']
### Abstract:
["This article surveys the literature that investigates the consistency of Arrow's social choice axioms when his unrestricted domain assumptions are replaced by domain conditions that incorporate the restrictions on agendas and preferences encountered in economic environments. Both social welfare functions and social choice correspondences are considered."]
### GND ID:
['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649209']
### GND class:
['Kollektiventscheidung', 'Wohlfahrtstheorie']
<|eot_id|> |
3A1831649225.jsonld | ['Chapter Fifteen. Competitive Market Mechanisms as Social Choice Procedures'] | ['A competitive market mechanism is a prominent example of a nonbinary social choice rule, typically defined for a special class of economic environments in which each social state is an economic allocation of private goods, and individuals’ preferences concern only their own personal consumption. This chapter begins by discussing which Pareto efficient allocations can be characterized as competitive equilibria with lump-sum transfers. It also discusses existence and characterization of such equilibria without lump-sum transfers. The second half of the chapter focuses on continuum economies, for which such characterization results are much more natural, given that agents have negligible influence over equilibrium prices.'] | ['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649225'] | ['Kollektiventscheidung', 'Wohlfahrtstheorie'] | Document
### Title: ['Chapter Fifteen. Competitive Market Mechanisms as Social Choice Procedures']
### Abstract:
['A competitive market mechanism is a prominent example of a nonbinary social choice rule, typically defined for a special class of economic environments in which each social state is an economic allocation of private goods, and individuals’ preferences concern only their own personal consumption. This chapter begins by discussing which Pareto efficient allocations can be characterized as competitive equilibria with lump-sum transfers. It also discusses existence and characterization of such equilibria without lump-sum transfers. The second half of the chapter focuses on continuum economies, for which such characterization results are much more natural, given that agents have negligible influence over equilibrium prices.']
### GND ID:
['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649225']
### GND class:
['Kollektiventscheidung', 'Wohlfahrtstheorie']
<|eot_id|> |
3A1831649233.jsonld | ['Chapter Fourteen. The Informational Basis of Social Choiceprotect'] | ["Any procedure of social choice makes use of some types of information and ignores others. For example, the method of majority decision concentrates on people's votes, but pays no direct attention to, say, their social standings, or their prosperity or penury, or even the intensities of their preferences. The differences between distinct procedures lie, to a substantial extent, on the kind of information that each procedure uses and what it has to ignore. The informational bases of the different social choice procedures tell us a great deal about how they respectively work and what they can or cannot achieve."] | ['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649233'] | ['Kollektiventscheidung', 'Wohlfahrtstheorie'] | Document
### Title: ['Chapter Fourteen. The Informational Basis of Social Choiceprotect']
### Abstract:
["Any procedure of social choice makes use of some types of information and ignores others. For example, the method of majority decision concentrates on people's votes, but pays no direct attention to, say, their social standings, or their prosperity or penury, or even the intensities of their preferences. The differences between distinct procedures lie, to a substantial extent, on the kind of information that each procedure uses and what it has to ignore. The informational bases of the different social choice procedures tell us a great deal about how they respectively work and what they can or cannot achieve."]
### GND ID:
['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649233']
### GND class:
['Kollektiventscheidung', 'Wohlfahrtstheorie']
<|eot_id|> |
3A1831649268.jsonld | ['Chapter 19. Economic and Social Impacts of the Media'] | ['In this survey, we review the literature on the impact of exposure to the media. We cast a wide net and cover media impacts on education, family choices, labor and migration decisions, environmental choices, health, crime, public economics, attitudes, consumption and savings, and development economics. We stress five themes. First, the demand for entertainment plays a key role, with the economic impacts emerging largely as by-products. Second, to understand the media effects, one cannot just focus on the direct effect of exposure but one needs to take into account the crowding out of alternative activities (substitution effect). Third, the sources of identification play a critical role in determining what is known: credible estimates of short- and long-run effects are available for some topics and some media but not for others. Fourth, most of the evidence on social and economic impacts is for exposure to the entertainment media such as television, as opposed to the printed press. Fifth, for the policy impacts, both the substitution effect of media exposure and the demand for entertainment play important roles.'] | ['gnd:4129410-5', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649268'] | ['Medienwirtschaft'] | Document
### Title: ['Chapter 19. Economic and Social Impacts of the Media']
### Abstract:
['In this survey, we review the literature on the impact of exposure to the media. We cast a wide net and cover media impacts on education, family choices, labor and migration decisions, environmental choices, health, crime, public economics, attitudes, consumption and savings, and development economics. We stress five themes. First, the demand for entertainment plays a key role, with the economic impacts emerging largely as by-products. Second, to understand the media effects, one cannot just focus on the direct effect of exposure but one needs to take into account the crowding out of alternative activities (substitution effect). Third, the sources of identification play a critical role in determining what is known: credible estimates of short- and long-run effects are available for some topics and some media but not for others. Fourth, most of the evidence on social and economic impacts is for exposure to the entertainment media such as television, as opposed to the printed press. Fifth, for the policy impacts, both the substitution effect of media exposure and the demand for entertainment play important roles.']
### GND ID:
['gnd:4129410-5', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649268']
### GND class:
['Medienwirtschaft']
<|eot_id|> |
3A1831649276.jsonld | ['Chapter 18. The Role of Media in Finance'] | ['This chapter reviews and synthesizes a rapidly growing subfield that analyzes the relation between media and financial markets. Research in this area identifies novel data sources, such as newspaper articles, Internet search queries, and posts on social networks, and employs inventive empirical methods, notably textual analysis, to quantify the rich information environment in modern financial markets. Such data and methods enable powerful tests of theories and have the potential to address longstanding puzzles in finance, such as why trading volume and stock price volatility are so high.'] | ['gnd:4129410-5', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649276'] | ['Medienwirtschaft'] | Document
### Title: ['Chapter 18. The Role of Media in Finance']
### Abstract:
['This chapter reviews and synthesizes a rapidly growing subfield that analyzes the relation between media and financial markets. Research in this area identifies novel data sources, such as newspaper articles, Internet search queries, and posts on social networks, and employs inventive empirical methods, notably textual analysis, to quantify the rich information environment in modern financial markets. Such data and methods enable powerful tests of theories and have the potential to address longstanding puzzles in finance, such as why trading volume and stock price volatility are so high.']
### GND ID:
['gnd:4129410-5', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649276']
### GND class:
['Medienwirtschaft']
<|eot_id|> |
3A1831649306.jsonld | ['Chapter 15. Empirical Studies of Media Bias'] | ['In this chapter we survey the empirical literature on media bias, with a focus on partisan and ideological biases. First, we discuss the methods used to measure the relative positions of media outlets. We divide bias into two categories, explicit and implicit bias. We group existing measures of implicit bias into three categories: measures based on comparing media outlets with other actors, measures based on the intensity of media coverage, and measures based on tone. In the second part of the chapter we discuss the main factors that are found to be correlated with media bias, dividing these into demand-side and supply-side factors. We also discuss the role of competition across media outlets. In the third part of the chapter we discuss some of the attempts to measure the persuasive impact of media bias on citizens’ attitudes and behavior.'] | ['gnd:4129410-5', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649306'] | ['Medienwirtschaft'] | Document
### Title: ['Chapter 15. Empirical Studies of Media Bias']
### Abstract:
['In this chapter we survey the empirical literature on media bias, with a focus on partisan and ideological biases. First, we discuss the methods used to measure the relative positions of media outlets. We divide bias into two categories, explicit and implicit bias. We group existing measures of implicit bias into three categories: measures based on comparing media outlets with other actors, measures based on the intensity of media coverage, and measures based on tone. In the second part of the chapter we discuss the main factors that are found to be correlated with media bias, dividing these into demand-side and supply-side factors. We also discuss the role of competition across media outlets. In the third part of the chapter we discuss some of the attempts to measure the persuasive impact of media bias on citizens’ attitudes and behavior.']
### GND ID:
['gnd:4129410-5', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649306']
### GND class:
['Medienwirtschaft']
<|eot_id|> |
3A1831649314.jsonld | ['Chapter 14. Media Bias in the Marketplace : Theory'] | ['We review the theoretical literature on market determinants of media bias. We present a theoretical framework that organizes key themes in the literature and discuss substantive lessons.'] | ['gnd:4129410-5', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649314'] | ['Medienwirtschaft'] | Document
### Title: ['Chapter 14. Media Bias in the Marketplace : Theory']
### Abstract:
['We review the theoretical literature on market determinants of media bias. We present a theoretical framework that organizes key themes in the literature and discuss substantive lessons.']
### GND ID:
['gnd:4129410-5', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649314']
### GND class:
['Medienwirtschaft']
<|eot_id|> |
3A1831649330.jsonld | ['Chapter 12. User-Generated Content and Social Media'] | ['This chapter documents what economists have learned about user-generated content (UGC) and social media. A growing body of evidence suggests that UGC on platforms ranging from Yelp to Facebook has a large causal impact on economic and social outcomes ranging from restaurant decisions to voting behavior. These findings often leverage unique datasets and methods ranging from regression discontinuity to field experiments, and researchers often work directly with the companies they study. I then survey the factors that influence the quality of UGC. Quality is influenced by factors including promotional content, peer effects between contributors, biases of contributors, and self-selection into the decision to contribute. Non-pecuniary incentives, such as “badges” and social status on a platform, are often used to encourage and steer contributions. I then discuss other issues including business models, network effects, and privacy. Throughout the chapter, I discuss open questions in this area.'] | ['gnd:4129410-5', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649330'] | ['Medienwirtschaft'] | Document
### Title: ['Chapter 12. User-Generated Content and Social Media']
### Abstract:
['This chapter documents what economists have learned about user-generated content (UGC) and social media. A growing body of evidence suggests that UGC on platforms ranging from Yelp to Facebook has a large causal impact on economic and social outcomes ranging from restaurant decisions to voting behavior. These findings often leverage unique datasets and methods ranging from regression discontinuity to field experiments, and researchers often work directly with the companies they study. I then survey the factors that influence the quality of UGC. Quality is influenced by factors including promotional content, peer effects between contributors, biases of contributors, and self-selection into the decision to contribute. Non-pecuniary incentives, such as “badges” and social status on a platform, are often used to encourage and steer contributions. I then discuss other issues including business models, network effects, and privacy. Throughout the chapter, I discuss open questions in this area.']
### GND ID:
['gnd:4129410-5', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649330']
### GND class:
['Medienwirtschaft']
<|eot_id|> |
3A1831649403.jsonld | ['Chapter 10. Improving Education Outcomes in Developing Countries : Evidence, Knowledge Gaps, and Policy Implications'] | ['Improvements in empirical research standards for credible identification of the causal impact of education policies on education outcomes have led to a significant increase in the body of evidence available on improving education outcomes in developing countries. This chapter aims to synthesize this evidence, interpret their results, and discuss the reasons why some interventions appear to be effective and others do not, with the ultimate goal of drawing implications for both research and policy. Interpreting the evidence for generalizable lessons is challenging because of variation across contexts, duration and quality of studies, and the details of specific interventions studied. Nevertheless, some broad patterns do emerge. Demand-side interventions that increase the immediate returns to (or reduce household costs of) school enrollment, or that increase students’ returns to effort, are broadly effective at increasing time in school and learning outcomes, but vary considerably in cost-effectiveness. Many expensive “standard” school inputs are often not very effective at improving outcomes, though some specific inputs (which are often less expensive) are. Interventions that focus on improved pedagogy (especially supplemental instruction to children lagging behind grade level competencies) are particularly effective, and so are interventions that improve school governance and teacher accountability. Our broad policy message is that the evidence points to several promising ways in which the efficiency of education spending in developing countries can be improved by pivoting public expenditure from less cost-effective to more cost-effective ways of achieving the same objectives. We conclude by documenting areas where more research is needed, and offer suggestions on the public goods and standards needed to make it easier for decentralized and uncoordinated research studies to be compared across contexts.'] | ['gnd:4006664-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649403'] | ['Bildungsökonomie'] | Document
### Title: ['Chapter 10. Improving Education Outcomes in Developing Countries : Evidence, Knowledge Gaps, and Policy Implications']
### Abstract:
['Improvements in empirical research standards for credible identification of the causal impact of education policies on education outcomes have led to a significant increase in the body of evidence available on improving education outcomes in developing countries. This chapter aims to synthesize this evidence, interpret their results, and discuss the reasons why some interventions appear to be effective and others do not, with the ultimate goal of drawing implications for both research and policy. Interpreting the evidence for generalizable lessons is challenging because of variation across contexts, duration and quality of studies, and the details of specific interventions studied. Nevertheless, some broad patterns do emerge. Demand-side interventions that increase the immediate returns to (or reduce household costs of) school enrollment, or that increase students’ returns to effort, are broadly effective at increasing time in school and learning outcomes, but vary considerably in cost-effectiveness. Many expensive “standard” school inputs are often not very effective at improving outcomes, though some specific inputs (which are often less expensive) are. Interventions that focus on improved pedagogy (especially supplemental instruction to children lagging behind grade level competencies) are particularly effective, and so are interventions that improve school governance and teacher accountability. Our broad policy message is that the evidence points to several promising ways in which the efficiency of education spending in developing countries can be improved by pivoting public expenditure from less cost-effective to more cost-effective ways of achieving the same objectives. We conclude by documenting areas where more research is needed, and offer suggestions on the public goods and standards needed to make it easier for decentralized and uncoordinated research studies to be compared across contexts.']
### GND ID:
['gnd:4006664-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649403']
### GND class:
['Bildungsökonomie']
<|eot_id|> |
3A183164942X.jsonld | ['Chapter 8. Student Loans and Repayment : Theory, Evidence, and Policy'] | ['Rising costs of and returns to college have led to sizeable increases in the demand for student loans in many countries. In the USA, student loan default rates have also risen for recent cohorts as labor market uncertainty and debt levels have increased. We discuss these trends as well as recent evidence on the extent to which students are able to obtain enough credit for college and the extent to which they are able to repay their student debts after. We then discuss optimal student credit arrangements that balance three important objectives: (i) providing credit for students to access college and finance consumption while in school, (ii) providing insurance against uncertain adverse schooling or postschool labor market outcomes in the form of income-contingent repayments, and (iii) providing incentives for student borrowers to honor their loan obligations (in expectation) when information and commitment frictions are present. Specifically, we develop a two-period educational investment model with uncertainty and show how student loan contracts can be designed to optimally address incentive problems related to moral hazard, costly income verification, and limited commitment by the borrower. We also survey other research related to the optimal design of student loan contracts in imperfect markets. Finally, we provide practical policy guidance for re-designing student loan programs to more efficiently provide insurance while addressing information and commitment frictions in the market.'] | ['gnd:4006664-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164942X'] | ['Bildungsökonomie'] | Document
### Title: ['Chapter 8. Student Loans and Repayment : Theory, Evidence, and Policy']
### Abstract:
['Rising costs of and returns to college have led to sizeable increases in the demand for student loans in many countries. In the USA, student loan default rates have also risen for recent cohorts as labor market uncertainty and debt levels have increased. We discuss these trends as well as recent evidence on the extent to which students are able to obtain enough credit for college and the extent to which they are able to repay their student debts after. We then discuss optimal student credit arrangements that balance three important objectives: (i) providing credit for students to access college and finance consumption while in school, (ii) providing insurance against uncertain adverse schooling or postschool labor market outcomes in the form of income-contingent repayments, and (iii) providing incentives for student borrowers to honor their loan obligations (in expectation) when information and commitment frictions are present. Specifically, we develop a two-period educational investment model with uncertainty and show how student loan contracts can be designed to optimally address incentive problems related to moral hazard, costly income verification, and limited commitment by the borrower. We also survey other research related to the optimal design of student loan contracts in imperfect markets. Finally, we provide practical policy guidance for re-designing student loan programs to more efficiently provide insurance while addressing information and commitment frictions in the market.']
### GND ID:
['gnd:4006664-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164942X']
### GND class:
['Bildungsökonomie']
<|eot_id|> |
3A1831649438.jsonld | ['Chapter 7. The Analysis of Field Choice in College and Graduate School : Determinants and Wage Effects'] | ['As the workforce has become more educated, educational decisions are about what type of education to pursue as well as how much to pursue. In college, individuals somewhat specialize through their choice of college major. Further specialization occurs in graduate school. This chapter investigates how majors and graduate school affect labor market outcomes, as well as how individuals make these potentially important decisions. To do so, we develop a dynamic model of educational decision-making. In light of the model, we examine the estimation issues associated with obtaining causal effects of educational choices on earnings. We then examine ways that authors have overcome the selection problem, as well as the approaches authors have taken to estimate the process by which these educational decisions are made.'] | ['gnd:4006664-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649438'] | ['Bildungsökonomie'] | Document
### Title: ['Chapter 7. The Analysis of Field Choice in College and Graduate School : Determinants and Wage Effects']
### Abstract:
['As the workforce has become more educated, educational decisions are about what type of education to pursue as well as how much to pursue. In college, individuals somewhat specialize through their choice of college major. Further specialization occurs in graduate school. This chapter investigates how majors and graduate school affect labor market outcomes, as well as how individuals make these potentially important decisions. To do so, we develop a dynamic model of educational decision-making. In light of the model, we examine the estimation issues associated with obtaining causal effects of educational choices on earnings. We then examine ways that authors have overcome the selection problem, as well as the approaches authors have taken to estimate the process by which these educational decisions are made.']
### GND ID:
['gnd:4006664-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649438']
### GND class:
['Bildungsökonomie']
<|eot_id|> |
3A1831649462.jsonld | ['Chapter 4. Competition Among Schools : Traditional Public and Private Schools'] | ['This chapter considers research on the effects of competition between private and public schools. It focuses on three questions: (1) Do children experience higher achievement gains in private school? (2) If so, is this because private schools are more productive? (3) Does competition from private schools raise public school productivity and/or otherwise affect those “left behind”? The chapter shows that unless each of these questions is answered, one cannot form a full assessment on the desirability of private school entry. Voucher experiments suggest that question 1 can be answered in the affirmative for some subgroups and in some contexts. Such work cannot typically isolate channels, however, and hence does not address question 2. Question 3 has been primarily studied by papers on large-scale voucher programs. These suggest that private school entry results in nonrandom sorting of students, but are less clear on the effects. The bottom line is that despite demand for clear, simple conclusions on the effects of competition from private schools, research does not yet provide these.'] | ['gnd:4006664-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649462'] | ['Bildungsökonomie'] | Document
### Title: ['Chapter 4. Competition Among Schools : Traditional Public and Private Schools']
### Abstract:
['This chapter considers research on the effects of competition between private and public schools. It focuses on three questions: (1) Do children experience higher achievement gains in private school? (2) If so, is this because private schools are more productive? (3) Does competition from private schools raise public school productivity and/or otherwise affect those “left behind”? The chapter shows that unless each of these questions is answered, one cannot form a full assessment on the desirability of private school entry. Voucher experiments suggest that question 1 can be answered in the affirmative for some subgroups and in some contexts. Such work cannot typically isolate channels, however, and hence does not address question 2. Question 3 has been primarily studied by papers on large-scale voucher programs. These suggest that private school entry results in nonrandom sorting of students, but are less clear on the effects. The bottom line is that despite demand for clear, simple conclusions on the effects of competition from private schools, research does not yet provide these.']
### GND ID:
['gnd:4006664-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649462']
### GND class:
['Bildungsökonomie']
<|eot_id|> |
3A1831649470.jsonld | ['Chapter 3. Charter Schools : A Survey of Research on Their Characteristics and Effectiveness'] | ['The charter school movement is nearing its 25th anniversary, making this an opportune time to take stock of the movement by addressing the following questions: Where do charter schools locate? Who do they serve? Who manages them? Who teaches in them? Most importantly, what are the effects of charter schools on the academic performance of students who enroll in charters and on students who remain in traditional public schools? We review research findings that shed light on these questions.'] | ['gnd:4006664-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649470'] | ['Bildungsökonomie'] | Document
### Title: ['Chapter 3. Charter Schools : A Survey of Research on Their Characteristics and Effectiveness']
### Abstract:
['The charter school movement is nearing its 25th anniversary, making this an opportune time to take stock of the movement by addressing the following questions: Where do charter schools locate? Who do they serve? Who manages them? Who teaches in them? Most importantly, what are the effects of charter schools on the academic performance of students who enroll in charters and on students who remain in traditional public schools? We review research findings that shed light on these questions.']
### GND ID:
['gnd:4006664-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649470']
### GND class:
['Bildungsökonomie']
<|eot_id|> |
3A1831649489.jsonld | ['Chapter 2. Education Research and Administrative Data'] | ["Thanks to extraordinary and exponential improvements in data storage and computing capacities, it is now possible to collect, manage, and analyze data in magnitudes and in manners that would have been inconceivable just a short time ago. As the world has developed this remarkable capacity to store and analyze data, so have the world's governments developed large-scale, comprehensive data files on tax programs, workforce information, benefit programs, health, and education. While these data are collected for purely administrative purposes, they represent remarkable new opportunities for expanding our knowledge. This chapter describes some of the benefits and challenges associated with the use of administrative data in education research. We also offer specific case studies of data that have been developed in both the Nordic countries and the United States, and offer an (incomplete) inventory of data sets used by social scientists to study education questions on every inhabited continent on earth."] | ['gnd:4006664-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649489'] | ['Bildungsökonomie'] | Document
### Title: ['Chapter 2. Education Research and Administrative Data']
### Abstract:
["Thanks to extraordinary and exponential improvements in data storage and computing capacities, it is now possible to collect, manage, and analyze data in magnitudes and in manners that would have been inconceivable just a short time ago. As the world has developed this remarkable capacity to store and analyze data, so have the world's governments developed large-scale, comprehensive data files on tax programs, workforce information, benefit programs, health, and education. While these data are collected for purely administrative purposes, they represent remarkable new opportunities for expanding our knowledge. This chapter describes some of the benefits and challenges associated with the use of administrative data in education research. We also offer specific case studies of data that have been developed in both the Nordic countries and the United States, and offer an (incomplete) inventory of data sets used by social scientists to study education questions on every inhabited continent on earth."]
### GND ID:
['gnd:4006664-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649489']
### GND class:
['Bildungsökonomie']
<|eot_id|> |
3A183164956X.jsonld | ['Chapter 21. Advances in Forecasting under Instability'] | ['The forecasting literature has identified two important issues: (i) several predictors have substantial and statistically significant predictive content, although only sporadically, and it is unclear whether this predictive content can be exploited reliably; (ii) in-sample predictive content does not necessarily translate into out-of-sample predictive ability, nor ensures the stability of the predictive relationship over time. The objective of this chapter is to understand what we have learned about forecasting in the presence of instabilities. The empirical evidence raises a multitude of questions. If in-sample tests provide poor guidance to out-of-sample forecasting ability, what should researchers do? If there are statistically significant instabilities in Granger-causality relationships, how do researchers establish whether there is any Granger-causality at all? If there is substantial instability in predictive relationships, how do researchers establish which model is the “best” forecasting model? And finally, if a model forecasts poorly, why is that and how should researchers proceed to improve the forecasting models? In this chapter, we answer these questions by discussing various methodologies for inference as well as estimation that have been recently proposed in the literature.'] | ['gnd:4047390-9', 'gnd:4059787-8', 'gnd:4066399-1', 'gnd:4132280-0', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164956X'] | ['Prognose', 'Theorie', 'Wirtschaft', 'Ökonometrie', 'Prognoseverfahren'] | Document
### Title: ['Chapter 21. Advances in Forecasting under Instability']
### Abstract:
['The forecasting literature has identified two important issues: (i) several predictors have substantial and statistically significant predictive content, although only sporadically, and it is unclear whether this predictive content can be exploited reliably; (ii) in-sample predictive content does not necessarily translate into out-of-sample predictive ability, nor ensures the stability of the predictive relationship over time. The objective of this chapter is to understand what we have learned about forecasting in the presence of instabilities. The empirical evidence raises a multitude of questions. If in-sample tests provide poor guidance to out-of-sample forecasting ability, what should researchers do? If there are statistically significant instabilities in Granger-causality relationships, how do researchers establish whether there is any Granger-causality at all? If there is substantial instability in predictive relationships, how do researchers establish which model is the “best” forecasting model? And finally, if a model forecasts poorly, why is that and how should researchers proceed to improve the forecasting models? In this chapter, we answer these questions by discussing various methodologies for inference as well as estimation that have been recently proposed in the literature.']
### GND ID:
['gnd:4047390-9', 'gnd:4059787-8', 'gnd:4066399-1', 'gnd:4132280-0', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164956X']
### GND class:
['Prognose', 'Theorie', 'Wirtschaft', 'Ökonometrie', 'Prognoseverfahren']
<|eot_id|> |
3A1831649586.jsonld | ['Chapter 19. Forecasting Binary Outcomes'] | ['Binary events are involved in many economic decision problems. In recent years, considerable progress has been made in diverse disciplines in developing models for forecasting binary outcomes. We distinguish between two types of forecasts for binary events that are generally obtained as the output of regression models: probability forecasts and point forecasts. We summarize specification, estimation, and evaluation of binary response models for the purpose of forecasting in a unified framework that is characterized by the joint distribution of forecasts and actuals, and a general loss function. Analysis of both the skill and the value of probability and point forecasts can be carried out within this framework. Parametric, semi-parametric, non-parametric, and Bayesian approaches are covered. The emphasis is on the basic intuitions underlying each methodology, abstracting away from the mathematical details.'] | ['gnd:4047390-9', 'gnd:4059787-8', 'gnd:4066399-1', 'gnd:4132280-0', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649586'] | ['Prognose', 'Theorie', 'Wirtschaft', 'Ökonometrie', 'Prognoseverfahren'] | Document
### Title: ['Chapter 19. Forecasting Binary Outcomes']
### Abstract:
['Binary events are involved in many economic decision problems. In recent years, considerable progress has been made in diverse disciplines in developing models for forecasting binary outcomes. We distinguish between two types of forecasts for binary events that are generally obtained as the output of regression models: probability forecasts and point forecasts. We summarize specification, estimation, and evaluation of binary response models for the purpose of forecasting in a unified framework that is characterized by the joint distribution of forecasts and actuals, and a general loss function. Analysis of both the skill and the value of probability and point forecasts can be carried out within this framework. Parametric, semi-parametric, non-parametric, and Bayesian approaches are covered. The emphasis is on the basic intuitions underlying each methodology, abstracting away from the mathematical details.']
### GND ID:
['gnd:4047390-9', 'gnd:4059787-8', 'gnd:4066399-1', 'gnd:4132280-0', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649586']
### GND class:
['Prognose', 'Theorie', 'Wirtschaft', 'Ökonometrie', 'Prognoseverfahren']
<|eot_id|> |
3A1831649594.jsonld | ['Chapter 18. Panel Data Forecasting'] | ['This chapter reviews the panel data forecasting literature. Starting with simple forecasts based on fixed and random effects panel data models. Next, these forecasts are extended to allow for various ARMA type structure on the disturbances, as well as spatial autoregressive and moving average type disturbances. These forecasting methods are then studied in the context of seemingly unrelated regressions. We highlight several forecasting empirical applications using panel data, as well as several Monte Carlo studies that compare various forecasting methods using panel data. The chapter concludes with suggestions for further work in this area.'] | ['gnd:4047390-9', 'gnd:4059787-8', 'gnd:4066399-1', 'gnd:4132280-0', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649594'] | ['Prognose', 'Theorie', 'Wirtschaft', 'Ökonometrie', 'Prognoseverfahren'] | Document
### Title: ['Chapter 18. Panel Data Forecasting']
### Abstract:
['This chapter reviews the panel data forecasting literature. Starting with simple forecasts based on fixed and random effects panel data models. Next, these forecasts are extended to allow for various ARMA type structure on the disturbances, as well as spatial autoregressive and moving average type disturbances. These forecasting methods are then studied in the context of seemingly unrelated regressions. We highlight several forecasting empirical applications using panel data, as well as several Monte Carlo studies that compare various forecasting methods using panel data. The chapter concludes with suggestions for further work in this area.']
### GND ID:
['gnd:4047390-9', 'gnd:4059787-8', 'gnd:4066399-1', 'gnd:4132280-0', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649594']
### GND class:
['Prognose', 'Theorie', 'Wirtschaft', 'Ökonometrie', 'Prognoseverfahren']
<|eot_id|> |
3A1831649608.jsonld | ['Chapter 17. Quantile Prediction'] | ['This chapter is concerned with the problem of quantile prediction (or forecasting). There are numerous applications in economics and finance where quantiles are of interest. We primarily focus on methods that are relevant for dynamic time series data. The chapter is organized around two key questions: first, how to measure and forecast the conditional quantiles of some series of interest given the information currently available and second, how to assess the accuracy of alternative conditional quantile predictors.'] | ['gnd:4047390-9', 'gnd:4059787-8', 'gnd:4066399-1', 'gnd:4132280-0', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649608'] | ['Prognose', 'Theorie', 'Wirtschaft', 'Ökonometrie', 'Prognoseverfahren'] | Document
### Title: ['Chapter 17. Quantile Prediction']
### Abstract:
['This chapter is concerned with the problem of quantile prediction (or forecasting). There are numerous applications in economics and finance where quantiles are of interest. We primarily focus on methods that are relevant for dynamic time series data. The chapter is organized around two key questions: first, how to measure and forecast the conditional quantiles of some series of interest given the information currently available and second, how to assess the accuracy of alternative conditional quantile predictors.']
### GND ID:
['gnd:4047390-9', 'gnd:4059787-8', 'gnd:4066399-1', 'gnd:4132280-0', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649608']
### GND class:
['Prognose', 'Theorie', 'Wirtschaft', 'Ökonometrie', 'Prognoseverfahren']
<|eot_id|> |
3A1831649624.jsonld | ['Chapter 15. Forecasting with Bayesian Vector Autoregression'] | ['This chapter reviews Bayesian methods for inference and forecasting with VAR models. Bayesian inference and, by extension, forecasting depends on numerical methods for simulating from the posterior distribution of the parameters and special attention is given to the implementation of the simulation algorithm.'] | ['gnd:4047390-9', 'gnd:4059787-8', 'gnd:4066399-1', 'gnd:4132280-0', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649624'] | ['Prognose', 'Theorie', 'Wirtschaft', 'Ökonometrie', 'Prognoseverfahren'] | Document
### Title: ['Chapter 15. Forecasting with Bayesian Vector Autoregression']
### Abstract:
['This chapter reviews Bayesian methods for inference and forecasting with VAR models. Bayesian inference and, by extension, forecasting depends on numerical methods for simulating from the posterior distribution of the parameters and special attention is given to the implementation of the simulation algorithm.']
### GND ID:
['gnd:4047390-9', 'gnd:4059787-8', 'gnd:4066399-1', 'gnd:4132280-0', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649624']
### GND class:
['Prognose', 'Theorie', 'Wirtschaft', 'Ökonometrie', 'Prognoseverfahren']
<|eot_id|> |
3A1831649632.jsonld | ['Chapter 14. Variable Selection in Predictive Regressions'] | ['This chapter reviews methods for selecting empirically relevant predictors from a set of N potentially relevant ones for the purpose of forecasting a scalar time series. First, criterion-based procedures in the conventional case when N is small relative to the sample size, T , are reviewed. Then the large N case is covered. Regularization and dimension reduction methods are then discussed. Irrespective of the model size, there is an unavoidable tension between prediction accuracy and consistent model determination. Simulations are used to compare selected methods from the perspective of relative risk in one period ahead forecasts.'] | ['gnd:4047390-9', 'gnd:4059787-8', 'gnd:4066399-1', 'gnd:4132280-0', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649632'] | ['Prognose', 'Theorie', 'Wirtschaft', 'Ökonometrie', 'Prognoseverfahren'] | Document
### Title: ['Chapter 14. Variable Selection in Predictive Regressions']
### Abstract:
['This chapter reviews methods for selecting empirically relevant predictors from a set of N potentially relevant ones for the purpose of forecasting a scalar time series. First, criterion-based procedures in the conventional case when N is small relative to the sample size, T , are reviewed. Then the large N case is covered. Regularization and dimension reduction methods are then discussed. Irrespective of the model size, there is an unavoidable tension between prediction accuracy and consistent model determination. Simulations are used to compare selected methods from the perspective of relative risk in one period ahead forecasts.']
### GND ID:
['gnd:4047390-9', 'gnd:4059787-8', 'gnd:4066399-1', 'gnd:4132280-0', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649632']
### GND class:
['Prognose', 'Theorie', 'Wirtschaft', 'Ökonometrie', 'Prognoseverfahren']
<|eot_id|> |
3A1831649659.jsonld | ['Chapter 12. Forecasters’ Objectives and Strategies'] | ['This chapter develops a unified modeling framework for analyzing the strategic behavior of forecasters. The theoretical model encompasses reputational objectives, competition for the best accuracy, and bias. Also drawing from the extensive literature on analysts, we review the empirical evidence on strategic forecasting and illustrate how our model can be structurally estimated.'] | ['gnd:4047390-9', 'gnd:4059787-8', 'gnd:4066399-1', 'gnd:4132280-0', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649659'] | ['Prognose', 'Theorie', 'Wirtschaft', 'Ökonometrie', 'Prognoseverfahren'] | Document
### Title: ['Chapter 12. Forecasters’ Objectives and Strategies']
### Abstract:
['This chapter develops a unified modeling framework for analyzing the strategic behavior of forecasters. The theoretical model encompasses reputational objectives, competition for the best accuracy, and bias. Also drawing from the extensive literature on analysts, we review the empirical evidence on strategic forecasting and illustrate how our model can be structurally estimated.']
### GND ID:
['gnd:4047390-9', 'gnd:4059787-8', 'gnd:4066399-1', 'gnd:4132280-0', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649659']
### GND class:
['Prognose', 'Theorie', 'Wirtschaft', 'Ökonometrie', 'Prognoseverfahren']
<|eot_id|> |
3A1831649756.jsonld | ['Chapter 7. The Economics of Television and Online Video Markets'] | ['Television is the dominant entertainment medium for hundreds of millions. This chapter surveys the economic forces that determine the production and consumption of this content. It presents recent trends in television and online video markets, both in the US and internationally, and describes the state of theoretical and empirical research on these industries. A number of distinct themes emerge, including the growing importance of the pay-television sector, the role played by content providers (channels), distributors, and negotiations between them in determining market outcomes, and concerns about the effects of market power throughout this vertical structure. It also covers important but unsettled topics including the purpose for and effects of both the old (Public Service Broadcasters) and the new (online video markets). Open theoretical and empirical research questions are highlighted throughout.'] | ['gnd:4129410-5', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649756'] | ['Medienwirtschaft'] | Document
### Title: ['Chapter 7. The Economics of Television and Online Video Markets']
### Abstract:
['Television is the dominant entertainment medium for hundreds of millions. This chapter surveys the economic forces that determine the production and consumption of this content. It presents recent trends in television and online video markets, both in the US and internationally, and describes the state of theoretical and empirical research on these industries. A number of distinct themes emerge, including the growing importance of the pay-television sector, the role played by content providers (channels), distributors, and negotiations between them in determining market outcomes, and concerns about the effects of market power throughout this vertical structure. It also covers important but unsettled topics including the purpose for and effects of both the old (Public Service Broadcasters) and the new (online video markets). Open theoretical and empirical research questions are highlighted throughout.']
### GND ID:
['gnd:4129410-5', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649756']
### GND class:
['Medienwirtschaft']
<|eot_id|> |
3A1831649772.jsonld | ['Chapter 5. Recent Developments in Mass Media : Digitization and Multitasking'] | ['Technology and consumer behavior are changing supply and demand for mass media. Digitization has increased consumer control over media content and advertising, with implications for advertising avoidance, advertising targeting and personalization, competition among media platforms, and media market outcomes. In addition, consumers increasingly use a “second screen” to multitask during media programs, enabling immediate online response to program and advertising content, but also offering new opportunities to divert attention. This chapter presents recent data showing that video has remained the dominant mass medium and establishing the prevalence of digitization and multitasking behavior. It then selectively reviews academic research on the antecedents and consequences of the changing picture of mass media consumption, with a particular focus on the past 5–10 years.'] | ['gnd:4129410-5', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649772'] | ['Medienwirtschaft'] | Document
### Title: ['Chapter 5. Recent Developments in Mass Media : Digitization and Multitasking']
### Abstract:
['Technology and consumer behavior are changing supply and demand for mass media. Digitization has increased consumer control over media content and advertising, with implications for advertising avoidance, advertising targeting and personalization, competition among media platforms, and media market outcomes. In addition, consumers increasingly use a “second screen” to multitask during media programs, enabling immediate online response to program and advertising content, but also offering new opportunities to divert attention. This chapter presents recent data showing that video has remained the dominant mass medium and establishing the prevalence of digitization and multitasking behavior. It then selectively reviews academic research on the antecedents and consequences of the changing picture of mass media consumption, with a particular focus on the past 5–10 years.']
### GND ID:
['gnd:4129410-5', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649772']
### GND class:
['Medienwirtschaft']
<|eot_id|> |
3A1831649802.jsonld | ['Chapter 2. The Advertising-Financed Business Model in Two-Sided Media Markets'] | ['This chapter focuses on the economic mechanisms at work in recent models of advertising finance in media markets developed around the concept of two-sided markets. The objective is to highlight new and original insights from this approach, and to clarify the conceptual aspects. The chapter first develops a canonical model of two-sided markets for advertising, where platforms deliver content to consumers and resell their “attention” to advertisers. A key distinction is drawn between free media and pay media, where the former result from the combination of valuable consumer attention and low ad-nuisance cost. The first part discusses various conceptual issues such as equilibrium concepts and the nature of inefficiencies in advertising markets, and concrete issues such as congestion and second-degree discrimination. The second part is devoted to recent contributions on issues arising when consumers patronize multiple platforms. In this case, platforms can only charge incremental values to advertisers, which reduce their market power and affect their price strategies and advertising levels. The last part discusses the implications of the two-sided nature of the media markets for the choice of content and diversity.'] | ['gnd:4129410-5', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649802'] | ['Medienwirtschaft'] | Document
### Title: ['Chapter 2. The Advertising-Financed Business Model in Two-Sided Media Markets']
### Abstract:
['This chapter focuses on the economic mechanisms at work in recent models of advertising finance in media markets developed around the concept of two-sided markets. The objective is to highlight new and original insights from this approach, and to clarify the conceptual aspects. The chapter first develops a canonical model of two-sided markets for advertising, where platforms deliver content to consumers and resell their “attention” to advertisers. A key distinction is drawn between free media and pay media, where the former result from the combination of valuable consumer attention and low ad-nuisance cost. The first part discusses various conceptual issues such as equilibrium concepts and the nature of inefficiencies in advertising markets, and concrete issues such as congestion and second-degree discrimination. The second part is devoted to recent contributions on issues arising when consumers patronize multiple platforms. In this case, platforms can only charge incremental values to advertisers, which reduce their market power and affect their price strategies and advertising levels. The last part discusses the implications of the two-sided nature of the media markets for the choice of content and diversity.']
### GND ID:
['gnd:4129410-5', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649802']
### GND class:
['Medienwirtschaft']
<|eot_id|> |
3A1831649810.jsonld | ['Chapter 1. Preference Externalities in Media Markets'] | ['Media industries typically exhibit two fundamental features, high fixed costs and heterogeneity of consumer preferences. Daily newspaper markets, for example, tend to support a single product. In other examples, such as radio broadcasting, markets often support multiple differentiated offerings. Both contexts can deliver preference externalities, when the options and well-being for consumers depend on the number and mix of consumers according to their content preferences. This chapter presents evidence on these fundamental features of media markets. We then incorporate these features into a suite of theoretical models to obtain both a description of media markets as well as predictions for how they would be expected to function. In Section 1.3, we turn to “results,” i.e., empirical evidence on the questions illuminated by the theoretical models. We then explore the effects of technological change, and we suggest directions for future work.'] | ['gnd:4129410-5', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649810'] | ['Medienwirtschaft'] | Document
### Title: ['Chapter 1. Preference Externalities in Media Markets']
### Abstract:
['Media industries typically exhibit two fundamental features, high fixed costs and heterogeneity of consumer preferences. Daily newspaper markets, for example, tend to support a single product. In other examples, such as radio broadcasting, markets often support multiple differentiated offerings. Both contexts can deliver preference externalities, when the options and well-being for consumers depend on the number and mix of consumers according to their content preferences. This chapter presents evidence on these fundamental features of media markets. We then incorporate these features into a suite of theoretical models to obtain both a description of media markets as well as predictions for how they would be expected to function. In Section 1.3, we turn to “results,” i.e., empirical evidence on the questions illuminated by the theoretical models. We then explore the effects of technological change, and we suggest directions for future work.']
### GND ID:
['gnd:4129410-5', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649810']
### GND class:
['Medienwirtschaft']
<|eot_id|> |
3A1831649942.jsonld | ['Chapter 26. The Labor Market in Computable General Equilibrium Models'] | ['This chapter reviews options of labor market modeling in a computable general equilibrium framework. On the labor supply side, two principal modeling options are distinguished and discussed: aggregated, representative households and microsimulation based on individual household data. On the labor demand side, we focus on the substitution possibilities between different types of labor in production. With respect to labor market coordination, we discuss several wage-forming mechanisms and involuntary unemployment.'] | ['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649942'] | ['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren'] | Document
### Title: ['Chapter 26. The Labor Market in Computable General Equilibrium Models']
### Abstract:
['This chapter reviews options of labor market modeling in a computable general equilibrium framework. On the labor supply side, two principal modeling options are distinguished and discussed: aggregated, representative households and microsimulation based on individual household data. On the labor demand side, we focus on the substitution possibilities between different types of labor in production. With respect to labor market coordination, we discuss several wage-forming mechanisms and involuntary unemployment.']
### GND ID:
['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649942']
### GND class:
['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren']
<|eot_id|> |
3A1831649969.jsonld | ['Chapter 24. Market Structure in Multisector General Equilibrium Models of Open Economies'] | ['We provide an overview of several approaches to modeling market structure in multisector general equilibrium (MSGE) models, including both oligopoly and monopolistic competition. We emphasize open economy models and applications to international economic policy. We map out practical strategies for implementing variations on market structure, including functional forms and calibration strategies. We also identify areas that, in our view, are promising for further research. This includes both exploring the implications of moving away from average cost pricing models (including monopolistic competition) for labor market outcomes and inequality, and better methods for econometric estimation of parameters and confronting alternative forms of market structure against measures of model performance (specification testing).'] | ['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649969'] | ['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren'] | Document
### Title: ['Chapter 24. Market Structure in Multisector General Equilibrium Models of Open Economies']
### Abstract:
['We provide an overview of several approaches to modeling market structure in multisector general equilibrium (MSGE) models, including both oligopoly and monopolistic competition. We emphasize open economy models and applications to international economic policy. We map out practical strategies for implementing variations on market structure, including functional forms and calibration strategies. We also identify areas that, in our view, are promising for further research. This includes both exploring the implications of moving away from average cost pricing models (including monopolistic competition) for labor market outcomes and inequality, and better methods for econometric estimation of parameters and confronting alternative forms of market structure against measures of model performance (specification testing).']
### GND ID:
['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649969']
### GND class:
['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren']
<|eot_id|> |
3A1831649977.jsonld | ['Chapter 23. Computing General Equilibrium Theories of Monopolistic Competition and Heterogeneous Firms'] | ['This chapter considers alternatives to the Armington formulation of international trade found in most computable general equilibrium (CGE) models. International trade structures consistent with the monopolistic competition models suggested by Krugman (1980) and Melitz (2003) are presented in a computational setting. The Melitz structure of heterogeneous firms is particularly appealing given its consistency with micro-level findings on firm sizes and export behavior. We broaden the accessibility of these advanced trade theories for CGE modelers, and strengthen the link between contemporary CGE analysis and the broader trade community. Small-scale examples of all three theories (Armington, Krugman and Melitz) are introduced under a unified treatment. This is helpful in translating the advanced theories into an environment that is more familiar to CGE modelers. It is also helpful in showing how the different approaches affect outcomes, in a relatively transparent setting. Moving to an applied setting, we offer our approach to calibration and computation of models that include the Melitz heterogeneous firms structure. Our applications include an analysis of economic integration and subglobal climate policy in a model calibrated to the Global Trade Analysis Project (GTAP) data. We do find that the heterogeneous firms structure matters for conclusions drawn from empirical CGE analysis. In our analysis of economic integration we find endogenous entry leading to important variety effects. We also find important productivity effects related to the competitive selection of more productive firms. In our examination of subglobal climate policy we see substantial trade diversion in the Melitz structure. This exacerbates the problem of carbon leakage and impacts the emissions yields from carbon-based tariffs.'] | ['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649977'] | ['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren'] | Document
### Title: ['Chapter 23. Computing General Equilibrium Theories of Monopolistic Competition and Heterogeneous Firms']
### Abstract:
['This chapter considers alternatives to the Armington formulation of international trade found in most computable general equilibrium (CGE) models. International trade structures consistent with the monopolistic competition models suggested by Krugman (1980) and Melitz (2003) are presented in a computational setting. The Melitz structure of heterogeneous firms is particularly appealing given its consistency with micro-level findings on firm sizes and export behavior. We broaden the accessibility of these advanced trade theories for CGE modelers, and strengthen the link between contemporary CGE analysis and the broader trade community. Small-scale examples of all three theories (Armington, Krugman and Melitz) are introduced under a unified treatment. This is helpful in translating the advanced theories into an environment that is more familiar to CGE modelers. It is also helpful in showing how the different approaches affect outcomes, in a relatively transparent setting. Moving to an applied setting, we offer our approach to calibration and computation of models that include the Melitz heterogeneous firms structure. Our applications include an analysis of economic integration and subglobal climate policy in a model calibrated to the Global Trade Analysis Project (GTAP) data. We do find that the heterogeneous firms structure matters for conclusions drawn from empirical CGE analysis. In our analysis of economic integration we find endogenous entry leading to important variety effects. We also find important productivity effects related to the competitive selection of more productive firms. In our examination of subglobal climate policy we see substantial trade diversion in the Melitz structure. This exacerbates the problem of carbon leakage and impacts the emissions yields from carbon-based tariffs.']
### GND ID:
['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649977']
### GND class:
['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren']
<|eot_id|> |
3A1831649993.jsonld | ['Chapter 21. Income Distribution in Computable General Equilibrium Modeling'] | ['Studying the poverty and income distribution effects of macroeconomic policies or shocks requires a methodology that accounts on the one hand for the nature of the policy or shock being studied and their aggregate impact on the economy and, on the other hand, the heterogeneity of their overall effects among individuals or households at the micro level. Standard evaluation methods are of little use here. Methods based on the comparison between individuals exposed and not exposed to the policy or shock are clearly not applicable since, by definition, all individuals are affected by any policy with some macroeconomic dimension. The evaluation methodology thus needs to rely not only on a micro but also on a macro counterfactual within some kind of general equilibrium setting. This chapter reviews the growing literature that addresses this challenge by combining macro and micro modeling in various ways. It describes existing methodologies and their underpinning links with economic theory and presents some applications. The chapter is structured according to the nature of the computable general equilibrium (CGE) macro model being used and how the macro and micro components of the methodology are connected together and/or integrated. It thus starts from a simple framework where the two components are handled separately: the CGE model is static and Walrasian and the unidirectional link from the macro to the micro component essentially consists of changes in prices. It then moves to more integrated variants, where results from both the CGE and micro models are looped back and forth, and also to non-Walrasian specifications where both price and aggregate quantity changes link the macro and the micro components. Finally the chapter considers dynamic settings where the static CGE model on the macro side is replaced by a recursive-dynamic model, whereas the micro data base is allowed to change over time through both exogenous demographic and policy-induced endogenous economic transitions. Illustrations of that approach are drawn from the Global Income Distribution Dynamics (GIDD) model recently developed at the World Bank.'] | ['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649993'] | ['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren'] | Document
### Title: ['Chapter 21. Income Distribution in Computable General Equilibrium Modeling']
### Abstract:
['Studying the poverty and income distribution effects of macroeconomic policies or shocks requires a methodology that accounts on the one hand for the nature of the policy or shock being studied and their aggregate impact on the economy and, on the other hand, the heterogeneity of their overall effects among individuals or households at the micro level. Standard evaluation methods are of little use here. Methods based on the comparison between individuals exposed and not exposed to the policy or shock are clearly not applicable since, by definition, all individuals are affected by any policy with some macroeconomic dimension. The evaluation methodology thus needs to rely not only on a micro but also on a macro counterfactual within some kind of general equilibrium setting. This chapter reviews the growing literature that addresses this challenge by combining macro and micro modeling in various ways. It describes existing methodologies and their underpinning links with economic theory and presents some applications. The chapter is structured according to the nature of the computable general equilibrium (CGE) macro model being used and how the macro and micro components of the methodology are connected together and/or integrated. It thus starts from a simple framework where the two components are handled separately: the CGE model is static and Walrasian and the unidirectional link from the macro to the micro component essentially consists of changes in prices. It then moves to more integrated variants, where results from both the CGE and micro models are looped back and forth, and also to non-Walrasian specifications where both price and aggregate quantity changes link the macro and the micro components. Finally the chapter considers dynamic settings where the static CGE model on the macro side is replaced by a recursive-dynamic model, whereas the micro data base is allowed to change over time through both exogenous demographic and policy-induced endogenous economic transitions. Illustrations of that approach are drawn from the Global Income Distribution Dynamics (GIDD) model recently developed at the World Bank.']
### GND ID:
['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649993']
### GND class:
['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren']
<|eot_id|> |
3A1831650029.jsonld | ['Chapter 18. Trade Elasticity Parameters for a Computable General Equilibrium Model'] | ['Computable general equilibrium (CGE) models of international trade typically rely on econometrically estimated trade elasticities as model inputs. These elasticities vary by as much as an order of magnitude and there is no consensus on which elasticities to use. We review the literature estimating trade elasticities, focusing on several key considerations. What are the identifying assumptions used to separate supply and demand parameters? What is the nature of the shock to prices employed in the econometrics? And what is the time horizon over which trade responds to this shock? This discussion ranges from older reduced form approaches that use time-series variation in prices, to more recent work that identifies demand elasticities from trade costs or by using instruments in cross-section or panel data, and finally to prominent applications that separately identify supply and demand parameters in the absence of instruments. We also discuss recent theoretical developments from the literature on heterogeneous firms that complicate the interpretation of all these parameter estimates. Finally, we briefly survey a literature on structural estimation and link this to recent attempts to incorporate such theories in CGE applications. By elucidating the differences and similarities in these approaches we hope to guide the CGE practitioner in choosing elasticity estimates. We favor elasticities taken from econometric exercises that employ identifying assumptions and exploit shocks that are similar in nature to those imposed in the model experiment.'] | ['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650029'] | ['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren'] | Document
### Title: ['Chapter 18. Trade Elasticity Parameters for a Computable General Equilibrium Model']
### Abstract:
['Computable general equilibrium (CGE) models of international trade typically rely on econometrically estimated trade elasticities as model inputs. These elasticities vary by as much as an order of magnitude and there is no consensus on which elasticities to use. We review the literature estimating trade elasticities, focusing on several key considerations. What are the identifying assumptions used to separate supply and demand parameters? What is the nature of the shock to prices employed in the econometrics? And what is the time horizon over which trade responds to this shock? This discussion ranges from older reduced form approaches that use time-series variation in prices, to more recent work that identifies demand elasticities from trade costs or by using instruments in cross-section or panel data, and finally to prominent applications that separately identify supply and demand parameters in the absence of instruments. We also discuss recent theoretical developments from the literature on heterogeneous firms that complicate the interpretation of all these parameter estimates. Finally, we briefly survey a literature on structural estimation and link this to recent attempts to incorporate such theories in CGE applications. By elucidating the differences and similarities in these approaches we hope to guide the CGE practitioner in choosing elasticity estimates. We favor elasticities taken from econometric exercises that employ identifying assumptions and exploit shocks that are similar in nature to those imposed in the model experiment.']
### GND ID:
['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650029']
### GND class:
['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren']
<|eot_id|> |
3A1831650037.jsonld | ['Chapter 17. An Econometric Approach to General Equilibrium Modeling'] | ['The first objective of this chapter is to present a new approach to econometric modeling of producer behavior. Our key contribution is to represent the rate and biases of technical change by unobservable or latent variables. We also divide the rate of technical change between components that are induced by changes in prices and those that are autonomous and not affected by prices. In our dataset, production is disaggregated into 35 separate commodities produced by one or more of the 35 industries making up the US economy. Our second objective is to present a new econometric model of aggregate consumer behavior. The model allocates full wealth among time periods for households distinguished by demographic characteristics, and determines the within-period demands for leisure, consumer goods and services. An important feature of our approach is the development of a closed-form representation of aggregate demand and labor supply that accounts for the heterogeneity in household behavior that is observed in micro-level data. Our model of producer behavior is the supply side of general equilibrium models of the US. The aggregate demand functions are important components of the demand side. These general equilibrium models are used to analyze the consequences of a broad spectrum of public policies. These applications are discussed in more detail in Chapter 8 of this Handbook. The third objective of the chapter is to demonstrate an important benefit of the econometric approach to parameterization. The parameter covariances obtained in the course of estimation can be used to construct confidence intervals for endogenous variables in general equilibrium models. Confidence intervals characterize the precision of modeling results more rigorously and systematically than traditional sensitivity analysis.'] | ['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650037'] | ['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren'] | Document
### Title: ['Chapter 17. An Econometric Approach to General Equilibrium Modeling']
### Abstract:
['The first objective of this chapter is to present a new approach to econometric modeling of producer behavior. Our key contribution is to represent the rate and biases of technical change by unobservable or latent variables. We also divide the rate of technical change between components that are induced by changes in prices and those that are autonomous and not affected by prices. In our dataset, production is disaggregated into 35 separate commodities produced by one or more of the 35 industries making up the US economy. Our second objective is to present a new econometric model of aggregate consumer behavior. The model allocates full wealth among time periods for households distinguished by demographic characteristics, and determines the within-period demands for leisure, consumer goods and services. An important feature of our approach is the development of a closed-form representation of aggregate demand and labor supply that accounts for the heterogeneity in household behavior that is observed in micro-level data. Our model of producer behavior is the supply side of general equilibrium models of the US. The aggregate demand functions are important components of the demand side. These general equilibrium models are used to analyze the consequences of a broad spectrum of public policies. These applications are discussed in more detail in Chapter 8 of this Handbook. The third objective of the chapter is to demonstrate an important benefit of the econometric approach to parameterization. The parameter covariances obtained in the course of estimation can be used to construct confidence intervals for endogenous variables in general equilibrium models. Confidence intervals characterize the precision of modeling results more rigorously and systematically than traditional sensitivity analysis.']
### GND ID:
['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650037']
### GND class:
['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren']
<|eot_id|> |
3A1831650061.jsonld | ['Chapter 14. Modeling the Global EconomyForward-Looking ScenariosforAgriculture'] | ['The development of global computable general equilibrium (CGE) models lagged behind development of national models as globally consistent datasets were not readily available and software and hardware were generally not up to the task. As the latter improved and data became more readily available particularly through the efforts of the GTAP consortium the use of global CGE models to examine critical economic policies of an international or a global nature exploded in the 1990s. The catalysts of the use of global CGE models were international trade negotiations in the form of the Uruguay Round and the rising concern over global warming. Over the last two decades global CGE models have expanded in size, complexity and the range of policy issues including bilateral and regional trade agreements, the role of trade preferences, trade in services, international migration, foreign direct investment, cross-border environmental issues, structural transformation, demographics and more. This chapter is focused on work largely undertaken at the World Bank over the last decade using the ENVISAGE model with a focus on long-run dynamics, impacts on agriculture and interactions with climate change.'] | ['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650061'] | ['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren'] | Document
### Title: ['Chapter 14. Modeling the Global EconomyForward-Looking ScenariosforAgriculture']
### Abstract:
['The development of global computable general equilibrium (CGE) models lagged behind development of national models as globally consistent datasets were not readily available and software and hardware were generally not up to the task. As the latter improved and data became more readily available particularly through the efforts of the GTAP consortium the use of global CGE models to examine critical economic policies of an international or a global nature exploded in the 1990s. The catalysts of the use of global CGE models were international trade negotiations in the form of the Uruguay Round and the rising concern over global warming. Over the last two decades global CGE models have expanded in size, complexity and the range of policy issues including bilateral and regional trade agreements, the role of trade preferences, trade in services, international migration, foreign direct investment, cross-border environmental issues, structural transformation, demographics and more. This chapter is focused on work largely undertaken at the World Bank over the last decade using the ENVISAGE model with a focus on long-run dynamics, impacts on agriculture and interactions with climate change.']
### GND ID:
['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650061']
### GND class:
['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren']
<|eot_id|> |
3A183165007X.jsonld | ['Chapter 13. Estimating Effects of Price-Distorting Policies Using Alternative Distortions Databases'] | ['To analyze the effects of prospective policy changes, sectoral and economy-wide modelers need to begin with baseline estimates of policy induced price distortions. Global trade modelers mostly use the Global Trade Analysis Project (GTAP) protection database, which currently relies heavily on 2004 import tariffs plus (for Organization for Economic Cooperation and Development countries) an estimate of agricultural production and export subsidies in that year. This chapter addresses three questions relating to the very extensive use of that database. Are there other price-distorting policy instruments worthy of inclusion in the base year? What is the appropriate counterfactual set of price distortions in the year of concern (such as when a proposed reform is expected to be fully implemented, as distinct from the base year of 2004)? How are the price distortions (e.g. tariff rates) on individual products aggregated to the GTAP product groups? (i) We show there are some additional agricultural policy instruments that need to be included for some developing countries. (ii) We draw on political economy theory, a set of political econometric equations and knowledge of current World Trade Organization (WTO)-bound tariffs to show that some developing countries could well raise their agricultural protection rates over coming decades in the absence of a successful conclusion to the WTOs Doha Round. Hence, the appropriate counterfactual policy regime in projections modeling may not be the status quo , but rather higher agricultural protection rates for at least some countries. The alternative counterfactual considered generates much higher estimates of the prospective costs of not embracing trade policy reform. (iii) We draw on recent aggregation theory to show that the national and global welfare costs of current policies are seriously underestimated using conventional tariff aggregation methods.'] | ['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165007X'] | ['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren'] | Document
### Title: ['Chapter 13. Estimating Effects of Price-Distorting Policies Using Alternative Distortions Databases']
### Abstract:
['To analyze the effects of prospective policy changes, sectoral and economy-wide modelers need to begin with baseline estimates of policy induced price distortions. Global trade modelers mostly use the Global Trade Analysis Project (GTAP) protection database, which currently relies heavily on 2004 import tariffs plus (for Organization for Economic Cooperation and Development countries) an estimate of agricultural production and export subsidies in that year. This chapter addresses three questions relating to the very extensive use of that database. Are there other price-distorting policy instruments worthy of inclusion in the base year? What is the appropriate counterfactual set of price distortions in the year of concern (such as when a proposed reform is expected to be fully implemented, as distinct from the base year of 2004)? How are the price distortions (e.g. tariff rates) on individual products aggregated to the GTAP product groups? (i) We show there are some additional agricultural policy instruments that need to be included for some developing countries. (ii) We draw on political economy theory, a set of political econometric equations and knowledge of current World Trade Organization (WTO)-bound tariffs to show that some developing countries could well raise their agricultural protection rates over coming decades in the absence of a successful conclusion to the WTOs Doha Round. Hence, the appropriate counterfactual policy regime in projections modeling may not be the status quo , but rather higher agricultural protection rates for at least some countries. The alternative counterfactual considered generates much higher estimates of the prospective costs of not embracing trade policy reform. (iii) We draw on recent aggregation theory to show that the national and global welfare costs of current policies are seriously underestimated using conventional tariff aggregation methods.']
### GND ID:
['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165007X']
### GND class:
['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren']
<|eot_id|> |
3A1831650088.jsonld | ['Chapter 12. Global Applied General Equilibrium Analysis Using the Global Trade Analysis Project Framework'] | ['This chapter provides an overview of the first two decades of the Global Trade Analysis Project (GTAP) an effort to support a standardized database and computable general equilibrium (CGE) modeling platform for international economic analysis. It characterizes GTAP in four different dimensions: institutional innovation, a network, a database and a standardized modeling platform. Guiding principles for the GTAP modeling framework include flexibility, ease of use, transparency, and symmetric treatment of production and utility fundamentals across regions. The chapter reviews core modeling assumptions relating to the regional household, private consumption behavior, welfare decomposition, the Global Bank, treatment of the international trade and transport sector, and imports. Model validation and sensitivity analysis, as well as software issues receive attention as well. The chapter also offers brief overviews of the two major areas of application: international economic integration and global environmental issues. It closes a discussion of future directions for the Project.'] | ['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650088'] | ['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren'] | Document
### Title: ['Chapter 12. Global Applied General Equilibrium Analysis Using the Global Trade Analysis Project Framework']
### Abstract:
['This chapter provides an overview of the first two decades of the Global Trade Analysis Project (GTAP) an effort to support a standardized database and computable general equilibrium (CGE) modeling platform for international economic analysis. It characterizes GTAP in four different dimensions: institutional innovation, a network, a database and a standardized modeling platform. Guiding principles for the GTAP modeling framework include flexibility, ease of use, transparency, and symmetric treatment of production and utility fundamentals across regions. The chapter reviews core modeling assumptions relating to the regional household, private consumption behavior, welfare decomposition, the Global Bank, treatment of the international trade and transport sector, and imports. Model validation and sensitivity analysis, as well as software issues receive attention as well. The chapter also offers brief overviews of the two major areas of application: international economic integration and global environmental issues. It closes a discussion of future directions for the Project.']
### GND ID:
['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650088']
### GND class:
['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren']
<|eot_id|> |
3A1831650096.jsonld | ['Chapter 11. Dynamic Overlapping Generations Computable General Equilibrium Models and the Analysis of Tax Policy: The DiamondZodrow Model'] | ['We examine the use of dynamic overlapping generations (OLG) computable general equilibrium (CGE) models to analyze the economic effects of tax reforms, using as a paradigm our DiamondZodrow (DZ) model. Such models are especially well-suited to analyzing both the short-run transitional and the long-run dynamic macroeconomic effects of tax reforms, including the time paths of reform-induced changes in labor supply, saving, and investment, as well as the redistributional effects of reforms across and within generations. We begin with a brief overview of the use of OLG-CGE models in the analysis of tax reform, focusing on the seminal contribution of Auerbach and Kotlikoff (1987). We then consider a variety of extensions of this work, including the multiple-good, multiple-individual model constructed by Fullerton and Rogers (1993), as well as the addition of open economy factors, human capital accumulation and uncertainty. Many of the applications of these models have focused on changes in capital income taxation or, more generally, the replacement of an income tax system that fully taxes capital income with a consumption-based tax system that exempts normal returns to capital, and we focus on such reforms. We describe in considerable detail the DZ model, which is characterized by 55 cohorts, 12 income groups within each cohort, four production sectors and explicit calculation of reform-induced changes in asset values. We conclude by describing numerous applications of the DZ model, ranging from incremental reforms of the income tax system including deficit-financed tax cuts to fundamental tax reforms that involve replacing the income tax with a consumption-based tax system, to the implementation of a value-added tax imposed in addition to the income tax as a means of reducing current deficits and the national debt in the US.'] | ['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650096'] | ['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren'] | Document
### Title: ['Chapter 11. Dynamic Overlapping Generations Computable General Equilibrium Models and the Analysis of Tax Policy: The DiamondZodrow Model']
### Abstract:
['We examine the use of dynamic overlapping generations (OLG) computable general equilibrium (CGE) models to analyze the economic effects of tax reforms, using as a paradigm our DiamondZodrow (DZ) model. Such models are especially well-suited to analyzing both the short-run transitional and the long-run dynamic macroeconomic effects of tax reforms, including the time paths of reform-induced changes in labor supply, saving, and investment, as well as the redistributional effects of reforms across and within generations. We begin with a brief overview of the use of OLG-CGE models in the analysis of tax reform, focusing on the seminal contribution of Auerbach and Kotlikoff (1987). We then consider a variety of extensions of this work, including the multiple-good, multiple-individual model constructed by Fullerton and Rogers (1993), as well as the addition of open economy factors, human capital accumulation and uncertainty. Many of the applications of these models have focused on changes in capital income taxation or, more generally, the replacement of an income tax system that fully taxes capital income with a consumption-based tax system that exempts normal returns to capital, and we focus on such reforms. We describe in considerable detail the DZ model, which is characterized by 55 cohorts, 12 income groups within each cohort, four production sectors and explicit calculation of reform-induced changes in asset values. We conclude by describing numerous applications of the DZ model, ranging from incremental reforms of the income tax system including deficit-financed tax cuts to fundamental tax reforms that involve replacing the income tax with a consumption-based tax system, to the implementation of a value-added tax imposed in addition to the income tax as a means of reducing current deficits and the national debt in the US.']
### GND ID:
['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650096']
### GND class:
['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren']
<|eot_id|> |
3A1831650118.jsonld | ['Chapter 9. Computable General Equilibrium Modeling of Environmental Issues in Australia : Economic Impacts of an Emissions Trading Scheme'] | ['A key distinguishing characteristic of computable general equilibrium (CGE) modeling in Australia is its orientation to providing inputs to the policy-formation process. Policy makers require detail. They want to be able to identify convincingly which industries, which occupations, which regions and which households would benefit or lose from policy changes, and when the benefits or losses might be expected to flow. In this chapter, we explain how the necessary level of detail can be provided, using as an example analysis that was undertaken by Centre of Policy Studies (CoPS) and Frontier Economics of the potential economic impacts of a carbon price on the Australian economy. The Australian carbon price framework is assumed to be part of a global emissions trading scheme (ETS). Over time, the global ETS becomes the dominant greenhouse abatement policy for all countries including Australia. It sets the price for carbon permits and allocates the number of permits available to each country. A number of key findings emerge from the CGE simulations of the effects of the ETS policy. (i) Domestic abatement falls well short of targeted abatement, requiring significant amounts of permits to be imported. (ii) Despite the requirement for deep cuts in emissions, the ETS reduces Australias GDP by only about 1.1% relative to the base case in 2030. The negative impact on real household consumption (the preferred measure of national welfare) is somewhat greater, reflecting the need to import permits. (iii) The national macroeconomic impacts of the ETS might be described as modest in the context of the policy task. However, this does not carry through to the industry and state/territory levels where some industries and regions prove particularly vulnerable in terms of potential lost employment. The need for detail is highlighted throughout the analysis. For example, a suitably detailed treatment of electricity supply is provided by linking CoPS CGE model with Frontiers detailed bottom-up model of the stationary energy sector. Similarly, necessary detail on the effects of the global ETS on Australias international trading conditions is provided by linking with a multicountry model.'] | ['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650118'] | ['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren'] | Document
### Title: ['Chapter 9. Computable General Equilibrium Modeling of Environmental Issues in Australia : Economic Impacts of an Emissions Trading Scheme']
### Abstract:
['A key distinguishing characteristic of computable general equilibrium (CGE) modeling in Australia is its orientation to providing inputs to the policy-formation process. Policy makers require detail. They want to be able to identify convincingly which industries, which occupations, which regions and which households would benefit or lose from policy changes, and when the benefits or losses might be expected to flow. In this chapter, we explain how the necessary level of detail can be provided, using as an example analysis that was undertaken by Centre of Policy Studies (CoPS) and Frontier Economics of the potential economic impacts of a carbon price on the Australian economy. The Australian carbon price framework is assumed to be part of a global emissions trading scheme (ETS). Over time, the global ETS becomes the dominant greenhouse abatement policy for all countries including Australia. It sets the price for carbon permits and allocates the number of permits available to each country. A number of key findings emerge from the CGE simulations of the effects of the ETS policy. (i) Domestic abatement falls well short of targeted abatement, requiring significant amounts of permits to be imported. (ii) Despite the requirement for deep cuts in emissions, the ETS reduces Australias GDP by only about 1.1% relative to the base case in 2030. The negative impact on real household consumption (the preferred measure of national welfare) is somewhat greater, reflecting the need to import permits. (iii) The national macroeconomic impacts of the ETS might be described as modest in the context of the policy task. However, this does not carry through to the industry and state/territory levels where some industries and regions prove particularly vulnerable in terms of potential lost employment. The need for detail is highlighted throughout the analysis. For example, a suitably detailed treatment of electricity supply is provided by linking CoPS CGE model with Frontiers detailed bottom-up model of the stationary energy sector. Similarly, necessary detail on the effects of the global ETS on Australias international trading conditions is provided by linking with a multicountry model.']
### GND ID:
['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650118']
### GND class:
['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren']
<|eot_id|> |
3A1831650126.jsonld | ['Chapter 8. Energy, the Environment and US Economic Growth'] | ['The point of departure for the study of the impact of energy and environmental policies is the neoclassical theory of economic growth formulated by Cass (1965) and Koopmans (1967). The long-run properties of economic growth models are independent of energy and environmental policies. However, these policies affect capital accumulation and rates of productivity growth that determine the intermediate-run trends that are important for policy evaluation. Heterogeneity of different energy producers and consumers is critical for the evaluation of energy and environmental policies. To capture this heterogeneity it is necessary to distinguish among commodities, industries and households. Econometric methods are essential for summarizing information on different industries and consumer groups in a form suitable for general equilibrium modeling. In this chapter, we consider the application of econometric general equilibrium modeling to the US the economy that has been studied most intensively. The framework for our analysis is provided by the Intertemporal General Equilibrium Model (IGEM) introduced by Jorgenson and Wilcoxen (1998). The new version of the IGEM presented in this paper is employed for the evaluation of proposed legislation on climate policy by the US Environmental Protection Agency (2012b).'] | ['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650126'] | ['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren'] | Document
### Title: ['Chapter 8. Energy, the Environment and US Economic Growth']
### Abstract:
['The point of departure for the study of the impact of energy and environmental policies is the neoclassical theory of economic growth formulated by Cass (1965) and Koopmans (1967). The long-run properties of economic growth models are independent of energy and environmental policies. However, these policies affect capital accumulation and rates of productivity growth that determine the intermediate-run trends that are important for policy evaluation. Heterogeneity of different energy producers and consumers is critical for the evaluation of energy and environmental policies. To capture this heterogeneity it is necessary to distinguish among commodities, industries and households. Econometric methods are essential for summarizing information on different industries and consumer groups in a form suitable for general equilibrium modeling. In this chapter, we consider the application of econometric general equilibrium modeling to the US the economy that has been studied most intensively. The framework for our analysis is provided by the Intertemporal General Equilibrium Model (IGEM) introduced by Jorgenson and Wilcoxen (1998). The new version of the IGEM presented in this paper is employed for the evaluation of proposed legislation on climate policy by the US Environmental Protection Agency (2012b).']
### GND ID:
['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650126']
### GND class:
['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren']
<|eot_id|> |
3A1831650150.jsonld | ['Chapter 5. Contribution of Computable General Equilibrium Modeling to Policy Formulation in Developing Countries'] | ['This chapter reviews the experience of computable general equilibrium (CGE) models from the perspective of how they have, or have not, influenced public policy in developing countries. The paper describes different classes of empirical models from small, stylized to large, multisectoral applied models; from static equilibrium models to dynamic, perfect-foresight models and identifies the characteristics of models best suited to address different policy problems in developing countries. The paper then discusses the different ways CGE models have been and are being used in policy formulation, the types of questions they have addressed, and the lessons learned from past experience. Finally, the paper suggests that, in light of the changing nature of policy making in developing countries, in the future CGE models should be used differently, moving from a purely technocratic exercise used by policy makers to providing an accessible empirical framework that can contribute to a widespread public debate.'] | ['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650150'] | ['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren'] | Document
### Title: ['Chapter 5. Contribution of Computable General Equilibrium Modeling to Policy Formulation in Developing Countries']
### Abstract:
['This chapter reviews the experience of computable general equilibrium (CGE) models from the perspective of how they have, or have not, influenced public policy in developing countries. The paper describes different classes of empirical models from small, stylized to large, multisectoral applied models; from static equilibrium models to dynamic, perfect-foresight models and identifies the characteristics of models best suited to address different policy problems in developing countries. The paper then discusses the different ways CGE models have been and are being used in policy formulation, the types of questions they have addressed, and the lessons learned from past experience. Finally, the paper suggests that, in light of the changing nature of policy making in developing countries, in the future CGE models should be used differently, moving from a purely technocratic exercise used by policy makers to providing an accessible empirical framework that can contribute to a widespread public debate.']
### GND ID:
['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650150']
### GND class:
['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren']
<|eot_id|> |
3A1831650169.jsonld | ['Chapter 4. MAMS A Computable General Equilibrium Model for Developing Country Strategy Analysis'] | ['This chapter presents MAMS (Maquette for MDG Simulations), a recursive-dynamic CGE model developed at the World Bank for analysis of medium- to long-run country strategies for low- and middle-income countries, including strategies aimed at improving MDG (Millennium Development Goals) outcomes. Compared to other CGE models, MAMS offers a unique combination of new and policy-relevant features, most importantly disaggregation of the government services by function, broad and integrated coverage of MDGs and endogenous links between education and the labor market. The chapter provides a detailed description of MAMS, the policy insights that it has generated, exemplified by a case study of Yemen and the lessons learned from developing and applying MAMS to a large number of countries.'] | ['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650169'] | ['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren'] | Document
### Title: ['Chapter 4. MAMS A Computable General Equilibrium Model for Developing Country Strategy Analysis']
### Abstract:
['This chapter presents MAMS (Maquette for MDG Simulations), a recursive-dynamic CGE model developed at the World Bank for analysis of medium- to long-run country strategies for low- and middle-income countries, including strategies aimed at improving MDG (Millennium Development Goals) outcomes. Compared to other CGE models, MAMS offers a unique combination of new and policy-relevant features, most importantly disaggregation of the government services by function, broad and integrated coverage of MDGs and endogenous links between education and the labor market. The chapter provides a detailed description of MAMS, the policy insights that it has generated, exemplified by a case study of Yemen and the lessons learned from developing and applying MAMS to a large number of countries.']
### GND ID:
['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650169']
### GND class:
['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren']
<|eot_id|> |
3A1831650185.jsonld | ['Chapter 2. The MONASH Style of Computable General Equilibrium Modeling: A Framework for Practical Policy Analysis'] | ["MONASH models are descended from Johansen's 1960 model of Norway. The first MONASH model was ORANI, used in Australia's tariff debate of the 1970s. Johansen's influence combined with institutional arrangements in their development gave MONASH models distinctive characteristics, facilitating a broad range of policy-relevant applications. MONASH models currently operate in numerous countries to provide insights on a variety of questions including: the effects on: macro, industry, regional, labor market, distributional and environmental variables of changes in: taxes, public consumption, environmental policies, technologies, commodity prices, interest rates, wage-setting arrangements, infrastructure and major-project expenditures, and known levels and exploitability of mineral deposits (the Dutch disease). MONASH models are also used for explaining periods of history, estimating changes in technologies and preferences and generating baseline forecasts. Creation of MONASH models involved a series of enhancements to Johansen's model, including: (i) a computational procedure that eliminated Johansen's linearization errors without sacrificing simplicity; (ii) endogenization of trade flows by introducing into computable general equilibrium (CGE) modeling imperfect substitution between imported and domestic varieties (the Armington assumption); (iii) increased dimensionality allowing for policy-relevant detail such as transport margins; (iv) flexible closures; and (v) complex functional forms to specify production technologies. As well as broad theoretical issues, this chapter covers data preparation and introduces the GEMPACK purpose-built CGE software. MONASH modelers have responded to client demands by developing four modes of analysis: historical, decomposition, forecast and policy. Historical simulations produce up-to-date data, and estimate trends in technologies, preferences and other naturally exogenous but unobservable variables. Decomposition simulations explain historical episodes and place policy effects in historical context. Forecast simulations provide baselines using extrapolated trends from historical simulations together with specialist forecasts. Policy simulations generate effects of policies as deviations from baselines. To emphasize the practical orientation of MONASH models, the chapter starts with a MONASH-style policy story."] | ['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650185'] | ['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren'] | Document
### Title: ['Chapter 2. The MONASH Style of Computable General Equilibrium Modeling: A Framework for Practical Policy Analysis']
### Abstract:
["MONASH models are descended from Johansen's 1960 model of Norway. The first MONASH model was ORANI, used in Australia's tariff debate of the 1970s. Johansen's influence combined with institutional arrangements in their development gave MONASH models distinctive characteristics, facilitating a broad range of policy-relevant applications. MONASH models currently operate in numerous countries to provide insights on a variety of questions including: the effects on: macro, industry, regional, labor market, distributional and environmental variables of changes in: taxes, public consumption, environmental policies, technologies, commodity prices, interest rates, wage-setting arrangements, infrastructure and major-project expenditures, and known levels and exploitability of mineral deposits (the Dutch disease). MONASH models are also used for explaining periods of history, estimating changes in technologies and preferences and generating baseline forecasts. Creation of MONASH models involved a series of enhancements to Johansen's model, including: (i) a computational procedure that eliminated Johansen's linearization errors without sacrificing simplicity; (ii) endogenization of trade flows by introducing into computable general equilibrium (CGE) modeling imperfect substitution between imported and domestic varieties (the Armington assumption); (iii) increased dimensionality allowing for policy-relevant detail such as transport margins; (iv) flexible closures; and (v) complex functional forms to specify production technologies. As well as broad theoretical issues, this chapter covers data preparation and introduces the GEMPACK purpose-built CGE software. MONASH modelers have responded to client demands by developing four modes of analysis: historical, decomposition, forecast and policy. Historical simulations produce up-to-date data, and estimate trends in technologies, preferences and other naturally exogenous but unobservable variables. Decomposition simulations explain historical episodes and place policy effects in historical context. Forecast simulations provide baselines using extrapolated trends from historical simulations together with specialist forecasts. Policy simulations generate effects of policies as deviations from baselines. To emphasize the practical orientation of MONASH models, the chapter starts with a MONASH-style policy story."]
### GND ID:
['gnd:4065341-9', 'gnd:4066493-4', 'gnd:4079351-5', 'gnd:4210294-7', 'gnd:4224214-9', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650185']
### GND class:
['Welt', 'Wirtschaftspolitik', 'Wirtschaftstheorie', 'Allgemeines Gleichgewichtsmodell', 'Wirkungsanalyse', 'Prognoseverfahren']
<|eot_id|> |
3A1831650266.jsonld | ['Chapter 18. Place-Based Policies'] | ['Place-based policies commonly target underperforming areas, such as deteriorating downtown business districts and disadvantaged regions. Principal examples include enterprise zones, European Union Structural Funds, and industrial cluster policies. Place-based policies are rationalized by various hypotheses in urban and labor economics, such as agglomeration economies and spatial mismatch—hypotheses that entail market failures and often predict overlap between poor economic performance and disadvantaged residents. The evidence on enterprise zones is very mixed. We need to know more about what features of enterprise zone policies make them more effective or less effective, who gains and who loses from these policies, and how we can reconcile the existing findings. Some evidence points to positive benefits of infrastructure expenditure and also investment in higher education and university research—likely because of the public-goods nature of these policies. However, to better guide policy, we need to know more about what policies create self-sustaining longer run gains.'] | ['gnd:4076601-9', 'gnd:4121573-4', 'gnd:4182752-1', 'gnd:4239568-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650266'] | ['Regionale Wirtschaftsentwicklung', 'Regionale Wirtschaftsstruktur', 'Stadtökonomie', 'Regionalwirtschaft'] | Document
### Title: ['Chapter 18. Place-Based Policies']
### Abstract:
['Place-based policies commonly target underperforming areas, such as deteriorating downtown business districts and disadvantaged regions. Principal examples include enterprise zones, European Union Structural Funds, and industrial cluster policies. Place-based policies are rationalized by various hypotheses in urban and labor economics, such as agglomeration economies and spatial mismatch—hypotheses that entail market failures and often predict overlap between poor economic performance and disadvantaged residents. The evidence on enterprise zones is very mixed. We need to know more about what features of enterprise zone policies make them more effective or less effective, who gains and who loses from these policies, and how we can reconcile the existing findings. Some evidence points to positive benefits of infrastructure expenditure and also investment in higher education and university research—likely because of the public-goods nature of these policies. However, to better guide policy, we need to know more about what policies create self-sustaining longer run gains.']
### GND ID:
['gnd:4076601-9', 'gnd:4121573-4', 'gnd:4182752-1', 'gnd:4239568-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650266']
### GND class:
['Regionale Wirtschaftsentwicklung', 'Regionale Wirtschaftsstruktur', 'Stadtökonomie', 'Regionalwirtschaft']
<|eot_id|> |
3A1831650290.jsonld | ['Chapter 15. How Mortgage Finance Affects the Urban Landscape'] | ["This chapter considers the structure of mortgage finance in the United States and its role in shaping patterns of homeownership, the nature of the housing stock, and the organization of residential activity. We start by providing some background on the design features of mortgage contracts that distinguish them from other loans and that have important implications for issues presented in the rest of the chapter. We then explain how mortgage finance interacts with public policy, particularly tax policy, to influence a household's decision to own or rent and how shifts in the demand for owner-occupied housing are translated into housing prices and quantities, given the unusual nature of housing supply. We consider the distribution of mortgage credit in terms of access and price, by race, ethnicity, and income, and over the life cycle, with particular attention to the role of recent innovations such as nonprime mortgage securitization and reverse mortgages. The extent of negative equity has been unprecedented in the past decade, and we discuss its impact on strategic default, housing turnover, and housing investment. We describe spatial patterns in foreclosure and summarize the evidence for foreclosure spillovers in urban neighborhoods. Finally, we offer some thoughts on future innovations in mortgage finance."] | ['gnd:4076601-9', 'gnd:4121573-4', 'gnd:4182752-1', 'gnd:4239568-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650290'] | ['Regionale Wirtschaftsentwicklung', 'Regionale Wirtschaftsstruktur', 'Stadtökonomie', 'Regionalwirtschaft'] | Document
### Title: ['Chapter 15. How Mortgage Finance Affects the Urban Landscape']
### Abstract:
["This chapter considers the structure of mortgage finance in the United States and its role in shaping patterns of homeownership, the nature of the housing stock, and the organization of residential activity. We start by providing some background on the design features of mortgage contracts that distinguish them from other loans and that have important implications for issues presented in the rest of the chapter. We then explain how mortgage finance interacts with public policy, particularly tax policy, to influence a household's decision to own or rent and how shifts in the demand for owner-occupied housing are translated into housing prices and quantities, given the unusual nature of housing supply. We consider the distribution of mortgage credit in terms of access and price, by race, ethnicity, and income, and over the life cycle, with particular attention to the role of recent innovations such as nonprime mortgage securitization and reverse mortgages. The extent of negative equity has been unprecedented in the past decade, and we discuss its impact on strategic default, housing turnover, and housing investment. We describe spatial patterns in foreclosure and summarize the evidence for foreclosure spillovers in urban neighborhoods. Finally, we offer some thoughts on future innovations in mortgage finance."]
### GND ID:
['gnd:4076601-9', 'gnd:4121573-4', 'gnd:4182752-1', 'gnd:4239568-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650290']
### GND class:
['Regionale Wirtschaftsentwicklung', 'Regionale Wirtschaftsstruktur', 'Stadtökonomie', 'Regionalwirtschaft']
<|eot_id|> |
3A1831650320.jsonld | ['Chapter 12. Housing, Finance, and the Macroeconomy'] | ['In this chapter, we review and discuss the large body of research that has developed over the past 10-plus years that explores the interconnection of macroeconomics, finance, and housing. We focus on three major topics—housing and the business cycle, housing and portfolio choice, and housing and asset returns—and then review the recent literature that studies housing and the macroeconomy during the great housing boom and bust of 2000–2010. Our emphasis is on calibrated models that can be compared with data. In each section, we discuss the important questions, the typical set of tools used, and the insights that result from influential articles. Although great progress has been made in understanding the impact of housing outcomes on macroeconomic aggregates and vice versa, work remains. For example, economists recognize the importance of changing credit-market conditions in amplifying the volatility of house prices, but cannot explain the timing of these changes. At the end of the chapter, we discuss a new literature that assesses the macroeconomic effects and welfare implications of housing policies.'] | ['gnd:4076601-9', 'gnd:4121573-4', 'gnd:4182752-1', 'gnd:4239568-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650320'] | ['Regionale Wirtschaftsentwicklung', 'Regionale Wirtschaftsstruktur', 'Stadtökonomie', 'Regionalwirtschaft'] | Document
### Title: ['Chapter 12. Housing, Finance, and the Macroeconomy']
### Abstract:
['In this chapter, we review and discuss the large body of research that has developed over the past 10-plus years that explores the interconnection of macroeconomics, finance, and housing. We focus on three major topics—housing and the business cycle, housing and portfolio choice, and housing and asset returns—and then review the recent literature that studies housing and the macroeconomy during the great housing boom and bust of 2000–2010. Our emphasis is on calibrated models that can be compared with data. In each section, we discuss the important questions, the typical set of tools used, and the insights that result from influential articles. Although great progress has been made in understanding the impact of housing outcomes on macroeconomic aggregates and vice versa, work remains. For example, economists recognize the importance of changing credit-market conditions in amplifying the volatility of house prices, but cannot explain the timing of these changes. At the end of the chapter, we discuss a new literature that assesses the macroeconomic effects and welfare implications of housing policies.']
### GND ID:
['gnd:4076601-9', 'gnd:4121573-4', 'gnd:4182752-1', 'gnd:4239568-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650320']
### GND class:
['Regionale Wirtschaftsentwicklung', 'Regionale Wirtschaftsstruktur', 'Stadtökonomie', 'Regionalwirtschaft']
<|eot_id|> |
3A1831650339.jsonld | ['Chapter 11. Housing Bubbles'] | ['Housing markets experience substantial price volatility, short-term price change momentum, and mean reversion of prices over the long run. Together, these features, particularly at their most extreme, produce the classic shape of an asset bubble. In this chapter, we review the stylized facts of housing bubbles and discuss theories that can potentially explain events like the boom–bust cycles of the 2000s. One set of theories assumes rationality and uses idiosyncratic features of the housing market, such as intensive search and short-selling constraints, to explain the stylized facts. Cheap credit provides a particularly common rationalization for price booms, but temporary periods of low interest rates will not explain massive price swings in simple rational models. An incorrectly underpriced default option can make rational bubbles more likely. Many nonrational explanations for real estate bubbles exist, but the most promising theories emphasize some form of trend chasing, which in turn reflects boundedly rational learning.'] | ['gnd:4076601-9', 'gnd:4121573-4', 'gnd:4182752-1', 'gnd:4239568-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650339'] | ['Regionale Wirtschaftsentwicklung', 'Regionale Wirtschaftsstruktur', 'Stadtökonomie', 'Regionalwirtschaft'] | Document
### Title: ['Chapter 11. Housing Bubbles']
### Abstract:
['Housing markets experience substantial price volatility, short-term price change momentum, and mean reversion of prices over the long run. Together, these features, particularly at their most extreme, produce the classic shape of an asset bubble. In this chapter, we review the stylized facts of housing bubbles and discuss theories that can potentially explain events like the boom–bust cycles of the 2000s. One set of theories assumes rationality and uses idiosyncratic features of the housing market, such as intensive search and short-selling constraints, to explain the stylized facts. Cheap credit provides a particularly common rationalization for price booms, but temporary periods of low interest rates will not explain massive price swings in simple rational models. An incorrectly underpriced default option can make rational bubbles more likely. Many nonrational explanations for real estate bubbles exist, but the most promising theories emphasize some form of trend chasing, which in turn reflects boundedly rational learning.']
### GND ID:
['gnd:4076601-9', 'gnd:4121573-4', 'gnd:4182752-1', 'gnd:4239568-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650339']
### GND class:
['Regionale Wirtschaftsentwicklung', 'Regionale Wirtschaftsstruktur', 'Stadtökonomie', 'Regionalwirtschaft']
<|eot_id|> |
3A183165038X.jsonld | ['Chapter 10. Immigration and the Economy of Cities and Regions'] | ['In this chapter, we analyze immigration and its effect on urban and regional economies focusing on productivity and labor markets. While immigration policies are typically national, the effects of international migrants are often more easily identified on local economies. The reason is that their settlements are significantly concentrated across cities and regions, relative to natives. Immigrants are different from natives in several economically relevant skills. Their impact on the local economy depends on these skills. We emphasize that to evaluate correctly such impact, we also need to understand and measure the local adjustments produced by the immigrant flow. Workers and firms take advantage of the opportunities brought by immigrants and respond to them trying to maximize their welfare. We present a common conceptual frame to organize our analysis of the local effects of immigration, and we describe several applications. We then discuss the empirical literature that has tried to isolate and identify a causal impact of immigrants on the local economies and to estimate the different margins of response and the resulting outcomes for natives of different skill types. We finally survey promising recent avenues for advancing this research.'] | ['gnd:4076601-9', 'gnd:4121573-4', 'gnd:4182752-1', 'gnd:4239568-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165038X'] | ['Regionale Wirtschaftsentwicklung', 'Regionale Wirtschaftsstruktur', 'Stadtökonomie', 'Regionalwirtschaft'] | Document
### Title: ['Chapter 10. Immigration and the Economy of Cities and Regions']
### Abstract:
['In this chapter, we analyze immigration and its effect on urban and regional economies focusing on productivity and labor markets. While immigration policies are typically national, the effects of international migrants are often more easily identified on local economies. The reason is that their settlements are significantly concentrated across cities and regions, relative to natives. Immigrants are different from natives in several economically relevant skills. Their impact on the local economy depends on these skills. We emphasize that to evaluate correctly such impact, we also need to understand and measure the local adjustments produced by the immigrant flow. Workers and firms take advantage of the opportunities brought by immigrants and respond to them trying to maximize their welfare. We present a common conceptual frame to organize our analysis of the local effects of immigration, and we describe several applications. We then discuss the empirical literature that has tried to isolate and identify a causal impact of immigrants on the local economies and to estimate the different margins of response and the resulting outcomes for natives of different skill types. We finally survey promising recent avenues for advancing this research.']
### GND ID:
['gnd:4076601-9', 'gnd:4121573-4', 'gnd:4182752-1', 'gnd:4239568-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165038X']
### GND class:
['Regionale Wirtschaftsentwicklung', 'Regionale Wirtschaftsstruktur', 'Stadtökonomie', 'Regionalwirtschaft']
<|eot_id|> |
3A1831650436.jsonld | ['Chapter 5. The Empirics of Agglomeration Economies'] | ['We propose an integrated framework to discuss the empirical literature on the local determinants of agglomeration effects. We start by presenting the theoretical mechanisms that ground individual and aggregate empirical specifications. We gradually introduce static effects, dynamic effects, and workers’ endogenous location choices. We emphasize the impact of local density on productivity, but we also consider many other local determinants supported by theory. Empirical issues are then addressed. The most important concerns are about endogeneity at the local and individual levels, the choice of a productivity measure between wages and total-factor productivity, and the roles of spatial scale, firms’ characteristics, and functional forms. Estimated impacts of local determinants of productivity, employment, and firms’ location choices are surveyed for both developed and developing economies. We finally provide a discussion of attempts to identify and quantify specific agglomeration mechanisms.'] | ['gnd:4076601-9', 'gnd:4121573-4', 'gnd:4182752-1', 'gnd:4239568-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650436'] | ['Regionale Wirtschaftsentwicklung', 'Regionale Wirtschaftsstruktur', 'Stadtökonomie', 'Regionalwirtschaft'] | Document
### Title: ['Chapter 5. The Empirics of Agglomeration Economies']
### Abstract:
['We propose an integrated framework to discuss the empirical literature on the local determinants of agglomeration effects. We start by presenting the theoretical mechanisms that ground individual and aggregate empirical specifications. We gradually introduce static effects, dynamic effects, and workers’ endogenous location choices. We emphasize the impact of local density on productivity, but we also consider many other local determinants supported by theory. Empirical issues are then addressed. The most important concerns are about endogeneity at the local and individual levels, the choice of a productivity measure between wages and total-factor productivity, and the roles of spatial scale, firms’ characteristics, and functional forms. Estimated impacts of local determinants of productivity, employment, and firms’ location choices are surveyed for both developed and developing economies. We finally provide a discussion of attempts to identify and quantify specific agglomeration mechanisms.']
### GND ID:
['gnd:4076601-9', 'gnd:4121573-4', 'gnd:4182752-1', 'gnd:4239568-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650436']
### GND class:
['Regionale Wirtschaftsentwicklung', 'Regionale Wirtschaftsstruktur', 'Stadtökonomie', 'Regionalwirtschaft']
<|eot_id|> |
3A1831650452.jsonld | ['Chapter 3. Spatial Methods'] | ['This chapter is concerned with methods for analyzing spatial data. After initial discussion of the nature of spatial data, including the concept of randomness, we focus most of our attention on linear regression models that involve interactions between agents across space. The introduction of spatial variables into standard linear regression provides a flexible way of characterizing these interactions, but complicates both interpretation and estimation of parameters of interest. The estimation of these models leads to three fundamental challenges: the “reflection problem,” the presence of omitted variables, and problems caused by sorting. We consider possible solutions to these problems, with a particular focus on restrictions on the nature of interactions. We show that similar assumptions are implicit in the empirical strategies—fixed effects or spatial differencing—used to address these problems in reduced form estimation. These general lessons carry over to the policy evaluation literature.'] | ['gnd:4076601-9', 'gnd:4121573-4', 'gnd:4182752-1', 'gnd:4239568-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650452'] | ['Regionale Wirtschaftsentwicklung', 'Regionale Wirtschaftsstruktur', 'Stadtökonomie', 'Regionalwirtschaft'] | Document
### Title: ['Chapter 3. Spatial Methods']
### Abstract:
['This chapter is concerned with methods for analyzing spatial data. After initial discussion of the nature of spatial data, including the concept of randomness, we focus most of our attention on linear regression models that involve interactions between agents across space. The introduction of spatial variables into standard linear regression provides a flexible way of characterizing these interactions, but complicates both interpretation and estimation of parameters of interest. The estimation of these models leads to three fundamental challenges: the “reflection problem,” the presence of omitted variables, and problems caused by sorting. We consider possible solutions to these problems, with a particular focus on restrictions on the nature of interactions. We show that similar assumptions are implicit in the empirical strategies—fixed effects or spatial differencing—used to address these problems in reduced form estimation. These general lessons carry over to the policy evaluation literature.']
### GND ID:
['gnd:4076601-9', 'gnd:4121573-4', 'gnd:4182752-1', 'gnd:4239568-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650452']
### GND class:
['Regionale Wirtschaftsentwicklung', 'Regionale Wirtschaftsstruktur', 'Stadtökonomie', 'Regionalwirtschaft']
<|eot_id|> |
3A1831650460.jsonld | ['Chapter 2. Structural Estimation in Urban Economics'] | ['Structural estimation is a methodological approach in empirical economics explicitly based on economic theory, in which economic modeling, estimation, and empirical analysis are required to be internally consistent. This chapter illustrates the structural approach with three applications in urban economics: (1) discrete location choice, (2) fiscal competition and local public good provision, and (3) regional specialization. For each application, we first discuss broad methodological principles of model selection and development. Next we treat issues of identification and estimation. The final step of each discussion is how estimated structural models can be used for policy analysis.'] | ['gnd:4076601-9', 'gnd:4121573-4', 'gnd:4182752-1', 'gnd:4239568-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650460'] | ['Regionale Wirtschaftsentwicklung', 'Regionale Wirtschaftsstruktur', 'Stadtökonomie', 'Regionalwirtschaft'] | Document
### Title: ['Chapter 2. Structural Estimation in Urban Economics']
### Abstract:
['Structural estimation is a methodological approach in empirical economics explicitly based on economic theory, in which economic modeling, estimation, and empirical analysis are required to be internally consistent. This chapter illustrates the structural approach with three applications in urban economics: (1) discrete location choice, (2) fiscal competition and local public good provision, and (3) regional specialization. For each application, we first discuss broad methodological principles of model selection and development. Next we treat issues of identification and estimation. The final step of each discussion is how estimated structural models can be used for policy analysis.']
### GND ID:
['gnd:4076601-9', 'gnd:4121573-4', 'gnd:4182752-1', 'gnd:4239568-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650460']
### GND class:
['Regionale Wirtschaftsentwicklung', 'Regionale Wirtschaftsstruktur', 'Stadtökonomie', 'Regionalwirtschaft']
<|eot_id|> |
3A1831650479.jsonld | ['Chapter 1. Causal Inference in Urban and Regional Economics'] | ['Recovery of causal relationships in data is an essential part of scholarly inquiry in the social sciences. This chapter discusses strategies that have been successfully used in urban and regional economics for recovering such causal relationships. Essential to any successful empirical inquiry is careful consideration of the sources of variation in the data that identify parameters of interest. Interpretation of such parameters should take into account the potential for their heterogeneity as a function of both observables and unobservables.'] | ['gnd:4076601-9', 'gnd:4121573-4', 'gnd:4182752-1', 'gnd:4239568-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650479'] | ['Regionale Wirtschaftsentwicklung', 'Regionale Wirtschaftsstruktur', 'Stadtökonomie', 'Regionalwirtschaft'] | Document
### Title: ['Chapter 1. Causal Inference in Urban and Regional Economics']
### Abstract:
['Recovery of causal relationships in data is an essential part of scholarly inquiry in the social sciences. This chapter discusses strategies that have been successfully used in urban and regional economics for recovering such causal relationships. Essential to any successful empirical inquiry is careful consideration of the sources of variation in the data that identify parameters of interest. Interpretation of such parameters should take into account the potential for their heterogeneity as a function of both observables and unobservables.']
### GND ID:
['gnd:4076601-9', 'gnd:4121573-4', 'gnd:4182752-1', 'gnd:4239568-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650479']
### GND class:
['Regionale Wirtschaftsentwicklung', 'Regionale Wirtschaftsstruktur', 'Stadtökonomie', 'Regionalwirtschaft']
<|eot_id|> |
3A1831650517.jsonld | ['Chapter 23. The Welfare State and Antipoverty Policy in Rich Countries'] | ["The aim of this chapter is to highlight some key aspects of recent economic research on the welfare state and antipoverty policy in rich countries and to explore their implications. We begin with the conceptualization and measurement of poverty before sketching out some core features and approaches to the welfare state and antipoverty policies. We then focus on the central plank of the modern welfare state's efforts to address poverty—namely, social protection, discussing in turn the inactive working-age population, child income support, in-work poverty, and retirement and old-age pensions. After that we discuss social spending other than cash transfers, the labor market, education, training and activation, and, finally, intergenerational transmission, childhood, and neighborhoods. We also discuss the welfare state and antipoverty policy in the context of the economic crisis that began in 2007–2008 and the implications for strategies aimed at combining economic growth and employment with making serious inroads into poverty. We conclude with directions for future research."] | ['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650517'] | ['Einkommensverteilung'] | Document
### Title: ['Chapter 23. The Welfare State and Antipoverty Policy in Rich Countries']
### Abstract:
["The aim of this chapter is to highlight some key aspects of recent economic research on the welfare state and antipoverty policy in rich countries and to explore their implications. We begin with the conceptualization and measurement of poverty before sketching out some core features and approaches to the welfare state and antipoverty policies. We then focus on the central plank of the modern welfare state's efforts to address poverty—namely, social protection, discussing in turn the inactive working-age population, child income support, in-work poverty, and retirement and old-age pensions. After that we discuss social spending other than cash transfers, the labor market, education, training and activation, and, finally, intergenerational transmission, childhood, and neighborhoods. We also discuss the welfare state and antipoverty policy in the context of the economic crisis that began in 2007–2008 and the implications for strategies aimed at combining economic growth and employment with making serious inroads into poverty. We conclude with directions for future research."]
### GND ID:
['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650517']
### GND class:
['Einkommensverteilung']
<|eot_id|> |
3A1831650533.jsonld | ['Chapter 21. Democracy, Redistribution, and Inequality'] | ['In this paper we revisit the relationship between democracy, redistribution, and inequality. We first explain the theoretical reasons why democracy is expected to increase redistribution and reduce inequality, and why this expectation may fail to be realized when democracy is captured by the richer segments of the population; when it caters to the preferences of the middle class; or when it opens up disequalizing opportunities to segments of the population previously excluded from such activities, thus exacerbating inequality among a large part of the population. We then survey the existing empirical literature, which is both voluminous and full of contradictory results. We provide new and systematic reduced-form evidence on the dynamic impact of democracy on various outcomes. Our findings indicate that there is a significant and robust effect of democracy on tax revenues as a fraction of GDP, but no robust impact on inequality. We also find that democracy is associated with an increase in secondary schooling and a more rapid structural transformation. Finally, we provide some evidence suggesting that inequality tends to increase after democratization when the economy has already undergone significant structural transformation, when land inequality is high, and when the gap between the middle class and the poor is small. All of these are broadly consistent with a view that is different from the traditional median voter model of democratic redistribution: democracy does not lead to a uniform decline in post-tax inequality, but can result in changes in fiscal redistribution and economic structure that have ambiguous effects on inequality.'] | ['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650533'] | ['Einkommensverteilung'] | Document
### Title: ['Chapter 21. Democracy, Redistribution, and Inequality']
### Abstract:
['In this paper we revisit the relationship between democracy, redistribution, and inequality. We first explain the theoretical reasons why democracy is expected to increase redistribution and reduce inequality, and why this expectation may fail to be realized when democracy is captured by the richer segments of the population; when it caters to the preferences of the middle class; or when it opens up disequalizing opportunities to segments of the population previously excluded from such activities, thus exacerbating inequality among a large part of the population. We then survey the existing empirical literature, which is both voluminous and full of contradictory results. We provide new and systematic reduced-form evidence on the dynamic impact of democracy on various outcomes. Our findings indicate that there is a significant and robust effect of democracy on tax revenues as a fraction of GDP, but no robust impact on inequality. We also find that democracy is associated with an increase in secondary schooling and a more rapid structural transformation. Finally, we provide some evidence suggesting that inequality tends to increase after democratization when the economy has already undergone significant structural transformation, when land inequality is high, and when the gap between the middle class and the poor is small. All of these are broadly consistent with a view that is different from the traditional median voter model of democratic redistribution: democracy does not lead to a uniform decline in post-tax inequality, but can result in changes in fiscal redistribution and economic structure that have ambiguous effects on inequality.']
### GND ID:
['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650533']
### GND class:
['Einkommensverteilung']
<|eot_id|> |
3A183165055X.jsonld | ['Chapter 19. Cross-Country Evidence of the Multiple Causes of Inequality Changes in the OECD Area'] | ['This chapter provides a thorough survey of what recent international (i.e., cross-country) studies can tell us about the multiple causes of income inequality in the OECD area with regard to both levels and trends. The survey covers economics literature in particular but also relevant evidence from sociology and political science. We provide an overview of drivers of inequality in six areas: (i) structural macroeconomic sectoral changes, (ii) globalization and technology change, (iii) labor market and other relevant institutions, (iv) politics and political processes, (v) tax/transfer schemes, and (vi) demographic and other microstructural changes. We find that the literature, while extremely rich in partial analysis of all six areas, provides very few analyses with truly multivariate and multicountry specifications for the joint section of the OECD and EU countries. Suggestions include more cross-discipline reflections on various findings. This is now well facilitated by the spectacular development of data, as well as in relation to methodological harmonization across disciplines.'] | ['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165055X'] | ['Einkommensverteilung'] | Document
### Title: ['Chapter 19. Cross-Country Evidence of the Multiple Causes of Inequality Changes in the OECD Area']
### Abstract:
['This chapter provides a thorough survey of what recent international (i.e., cross-country) studies can tell us about the multiple causes of income inequality in the OECD area with regard to both levels and trends. The survey covers economics literature in particular but also relevant evidence from sociology and political science. We provide an overview of drivers of inequality in six areas: (i) structural macroeconomic sectoral changes, (ii) globalization and technology change, (iii) labor market and other relevant institutions, (iv) politics and political processes, (v) tax/transfer schemes, and (vi) demographic and other microstructural changes. We find that the literature, while extremely rich in partial analysis of all six areas, provides very few analyses with truly multivariate and multicountry specifications for the joint section of the OECD and EU countries. Suggestions include more cross-discipline reflections on various findings. This is now well facilitated by the spectacular development of data, as well as in relation to methodological harmonization across disciplines.']
### GND ID:
['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165055X']
### GND class:
['Einkommensverteilung']
<|eot_id|> |
3A1831650576.jsonld | ['Chapter 17. Health and Inequality'] | ['We examine the relationship between income and health with the purpose of establishing the extent to which the distribution of health in a population contributes to income inequality and is itself a product of that inequality. The evidence supports a substantial impact of ill-health on income, mainly operating through employment, although the magnitude of ill-health’s contribution to income inequality is difficult to gauge. Variation in exposure to health risks early in life could be an important mechanism through which health may generate and possibly sustain economic inequality. If material advantage can be exercised within the domain of health, then economic inequality will generate health inequality. In high-income countries, the evidence that income (wealth) does have a causal impact on health in adulthood is weak. But this may simply reflect the difficulty of identifying a relationship that, should it exist, is likely to emerge over a lifetime as poor material living conditions slowly take their toll on health. There is little credible evidence to support the claim that the economic inequality in society threatens the health of all its members or that relative income is a determinant of health.'] | ['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650576'] | ['Einkommensverteilung'] | Document
### Title: ['Chapter 17. Health and Inequality']
### Abstract:
['We examine the relationship between income and health with the purpose of establishing the extent to which the distribution of health in a population contributes to income inequality and is itself a product of that inequality. The evidence supports a substantial impact of ill-health on income, mainly operating through employment, although the magnitude of ill-health’s contribution to income inequality is difficult to gauge. Variation in exposure to health risks early in life could be an important mechanism through which health may generate and possibly sustain economic inequality. If material advantage can be exercised within the domain of health, then economic inequality will generate health inequality. In high-income countries, the evidence that income (wealth) does have a causal impact on health in adulthood is weak. But this may simply reflect the difficulty of identifying a relationship that, should it exist, is likely to emerge over a lifetime as poor material living conditions slowly take their toll on health. There is little credible evidence to support the claim that the economic inequality in society threatens the health of all its members or that relative income is a determinant of health.']
### GND ID:
['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650576']
### GND class:
['Einkommensverteilung']
<|eot_id|> |
3A1831650584.jsonld | ['Chapter 16. Intrahousehold Inequality'] | ['Studies of inequality often ignore resource allocation within the household. In doing so they miss an important element of the distribution of welfare that can vary dramatically depending on overall environmental and economic factors. Thus, measures of inequality that ignore intrahousehold allocations are both incomplete and misleading. We discuss determinants of intrahousehold allocation of resources and welfare. We show how the sharing rule, which characterizes the within-household allocations, can be identified from data on household consumption and labor supply. We also argue that a measure based on estimates of the sharing rule is inadequate as an approach that seeks to understand how welfare is distributed in the population because it ignores public goods and the allocation of time to market work, leisure, and household production. We discuss a money metric alternative, that fully characterizes the utility level reached by the agent. We then review the current literature on the estimation of the sharing rule based on a number of approaches, including the use of distribution factors as well as preference restrictions.'] | ['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650584'] | ['Einkommensverteilung'] | Document
### Title: ['Chapter 16. Intrahousehold Inequality']
### Abstract:
['Studies of inequality often ignore resource allocation within the household. In doing so they miss an important element of the distribution of welfare that can vary dramatically depending on overall environmental and economic factors. Thus, measures of inequality that ignore intrahousehold allocations are both incomplete and misleading. We discuss determinants of intrahousehold allocation of resources and welfare. We show how the sharing rule, which characterizes the within-household allocations, can be identified from data on household consumption and labor supply. We also argue that a measure based on estimates of the sharing rule is inadequate as an approach that seeks to understand how welfare is distributed in the population because it ignores public goods and the allocation of time to market work, leisure, and household production. We discuss a money metric alternative, that fully characterizes the utility level reached by the agent. We then review the current literature on the estimation of the sharing rule based on a number of approaches, including the use of distribution factors as well as preference restrictions.']
### GND ID:
['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650584']
### GND class:
['Einkommensverteilung']
<|eot_id|> |
3A1831650592.jsonld | ['Chapter 15. Wealth and Inheritance in the Long Run'] | ["This chapter offers an overview of the empirical and theoretical research on the long-run evolution of wealth and inheritance. Wealth–income ratios, inherited wealth, and wealth inequalities were high in the eighteenth to nineteenth centuries up until World War I, then sharply dropped during the twentieth century following World War shocks, and have been rising again in the late twentieth and early twenty-first centuries. We discuss the models that can account for these facts. We show that over a wide range of models, the long-run magnitude and concentration of wealth and inheritance are an increasing function of r ¯ − g where r ¯ is the net-of-tax rate of return on wealth and g is the economy's growth rate. This suggests that current trends toward rising wealth–income ratios and wealth inequality might continue during the twenty-first century, both because of the slowdown of population and productivity growth, and because of rising international competition to attract capital."] | ['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650592'] | ['Einkommensverteilung'] | Document
### Title: ['Chapter 15. Wealth and Inheritance in the Long Run']
### Abstract:
["This chapter offers an overview of the empirical and theoretical research on the long-run evolution of wealth and inheritance. Wealth–income ratios, inherited wealth, and wealth inequalities were high in the eighteenth to nineteenth centuries up until World War I, then sharply dropped during the twentieth century following World War shocks, and have been rising again in the late twentieth and early twenty-first centuries. We discuss the models that can account for these facts. We show that over a wide range of models, the long-run magnitude and concentration of wealth and inheritance are an increasing function of r ¯ − g where r ¯ is the net-of-tax rate of return on wealth and g is the economy's growth rate. This suggests that current trends toward rising wealth–income ratios and wealth inequality might continue during the twenty-first century, both because of the slowdown of population and productivity growth, and because of rising international competition to attract capital."]
### GND ID:
['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650592']
### GND class:
['Einkommensverteilung']
<|eot_id|> |
3A1831650606.jsonld | ['Chapter 14. Inequality in Macroeconomics'] | ['We revise some of the main ways in which the study of aggregate performance of an economy overlaps with the study of inequality.'] | ['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650606'] | ['Einkommensverteilung'] | Document
### Title: ['Chapter 14. Inequality in Macroeconomics']
### Abstract:
['We revise some of the main ways in which the study of aggregate performance of an economy overlaps with the study of inequality.']
### GND ID:
['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650606']
### GND class:
['Einkommensverteilung']
<|eot_id|> |
3A1831650673.jsonld | ['Chapter 13. Attitudes to Income Inequality : Experimental and Survey Evidence'] | ["We review the survey and experimental findings in the literature on attitudes to income inequality. We interpret the latter as any disparity in incomes between individuals. We classify these findings into two broad types of individual attitudes toward the income distribution in a society: the normative and the comparative view. The first can be thought of as the individual's disinterested evaluation of income inequality; on the contrary, the second view reflects self-interest, as individuals’ inequality attitudes depend not only on how much income they receive but also on how much they receive compared to others. We conclude with a number of extensions, outstanding issues, and suggestions for future research."] | ['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650673'] | ['Einkommensverteilung'] | Document
### Title: ['Chapter 13. Attitudes to Income Inequality : Experimental and Survey Evidence']
### Abstract:
["We review the survey and experimental findings in the literature on attitudes to income inequality. We interpret the latter as any disparity in incomes between individuals. We classify these findings into two broad types of individual attitudes toward the income distribution in a society: the normative and the comparative view. The first can be thought of as the individual's disinterested evaluation of income inequality; on the contrary, the second view reflects self-interest, as individuals’ inequality attitudes depend not only on how much income they receive but also on how much they receive compared to others. We conclude with a number of extensions, outstanding issues, and suggestions for future research."]
### GND ID:
['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650673']
### GND class:
['Einkommensverteilung']
<|eot_id|> |
3A1831650681.jsonld | ['Chapter 12. Gender Inequality'] | ['The chapter examines how the various dimensions of economic inequality between men and women are analyzed today. Beyond the gender wage gap—a central issue—and of course the still far from equal sharing of housework, the chapter also reviews research on gender inequality in access to self-employment, the gender gap in pensions, and the emerging topic of a gender gap in wealth, attempting to highlight the paths between the various facets of gender inequality. Throughout the review, much attention is paid to measurement issues, the scope of empirical evidence, and to limitations due either to the small number of large and comparable data sets or to conventional approaches that limit the possibilities to compare men and women.'] | ['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650681'] | ['Einkommensverteilung'] | Document
### Title: ['Chapter 12. Gender Inequality']
### Abstract:
['The chapter examines how the various dimensions of economic inequality between men and women are analyzed today. Beyond the gender wage gap—a central issue—and of course the still far from equal sharing of housework, the chapter also reviews research on gender inequality in access to self-employment, the gender gap in pensions, and the emerging topic of a gender gap in wealth, attempting to highlight the paths between the various facets of gender inequality. Throughout the review, much attention is paid to measurement issues, the scope of empirical evidence, and to limitations due either to the small number of large and comparable data sets or to conventional approaches that limit the possibilities to compare men and women.']
### GND ID:
['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650681']
### GND class:
['Einkommensverteilung']
<|eot_id|> |
3A183165069X.jsonld | ['Chapter 11. The Global Distribution of Income'] | ['This chapter investigates recent advances in our understanding of the global distribution of income, and produces the first estimates of global inequality that take into account data on the incomes of the top one percent within countries. We discuss conceptual and methodological issues – including alternative definitions of the global distribution, the use of household surveys and national accounts data, the use of purchasing power parity exchange rates, and the incorporation of recently available data on top incomes from income tax records. We also review recent attempts to estimate the global distribution of income. Our own estimates combine household survey data with top income data, and we analyze various aspects of this distribution, including its within- and between-country components, and changes in relative versus absolute global inequality. Finally, we examine global poverty, which is identified through the lower end of the global distribution.'] | ['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165069X'] | ['Einkommensverteilung'] | Document
### Title: ['Chapter 11. The Global Distribution of Income']
### Abstract:
['This chapter investigates recent advances in our understanding of the global distribution of income, and produces the first estimates of global inequality that take into account data on the incomes of the top one percent within countries. We discuss conceptual and methodological issues – including alternative definitions of the global distribution, the use of household surveys and national accounts data, the use of purchasing power parity exchange rates, and the incorporation of recently available data on top incomes from income tax records. We also review recent attempts to estimate the global distribution of income. Our own estimates combine household survey data with top income data, and we analyze various aspects of this distribution, including its within- and between-country components, and changes in relative versus absolute global inequality. Finally, we examine global poverty, which is identified through the lower end of the global distribution.']
### GND ID:
['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165069X']
### GND class:
['Einkommensverteilung']
<|eot_id|> |
3A1831650711.jsonld | ['Chapter 9. Recent Trends in Inequality and Poverty in Developing Countries'] | ['This chapter reviews the empirical evidence on the levels and trends in income/consumption inequality and poverty in developing countries. It includes a discussion of data sources and measurement issues, evidence on the levels of inequality and poverty across countries and regions, an assessment of trends in these variables since the early 1980s, and a general discussion of their determinants. There has been tremendous progress in the measurement of inequality and poverty in the developing world, although serious problems of consistency and comparability still remain. The available evidence suggests that on average the levels of national income inequality in the developing world increased in the 1980s and 1990s and declined in the 2000s. There has been a remarkable fall in income poverty since the early 1980s, driven by the exceptional performance of China over the whole period and the generalized improvement in living standards in all the regions of the developing world in the 2000s.'] | ['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650711'] | ['Einkommensverteilung'] | Document
### Title: ['Chapter 9. Recent Trends in Inequality and Poverty in Developing Countries']
### Abstract:
['This chapter reviews the empirical evidence on the levels and trends in income/consumption inequality and poverty in developing countries. It includes a discussion of data sources and measurement issues, evidence on the levels of inequality and poverty across countries and regions, an assessment of trends in these variables since the early 1980s, and a general discussion of their determinants. There has been tremendous progress in the measurement of inequality and poverty in the developing world, although serious problems of consistency and comparability still remain. The available evidence suggests that on average the levels of national income inequality in the developing world increased in the 1980s and 1990s and declined in the 2000s. There has been a remarkable fall in income poverty since the early 1980s, driven by the exceptional performance of China over the whole period and the generalized improvement in living standards in all the regions of the developing world in the 2000s.']
### GND ID:
['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650711']
### GND class:
['Einkommensverteilung']
<|eot_id|> |
3A183165072X.jsonld | ['Chapter 8. Post-1970 Trends in Within-Country Inequality and Poverty : Rich and Middle-Income Countries'] | ['Like the other chapters in this volume of the Handbook of Income Distribution (and its predecessor), the aim of this chapter is to provide a comprehensive review of a particular area of research. We examine the literature on post-1970 trends in poverty and income inequality, up to 2010 or 2011 in most countries. We provide measures of the levels and trends in each of these areas, as well as an integrated discussion of empirical choices made in the measurement of poverty, overall income inequality, and inequality among those with top incomes.'] | ['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165072X'] | ['Einkommensverteilung'] | Document
### Title: ['Chapter 8. Post-1970 Trends in Within-Country Inequality and Poverty : Rich and Middle-Income Countries']
### Abstract:
['Like the other chapters in this volume of the Handbook of Income Distribution (and its predecessor), the aim of this chapter is to provide a comprehensive review of a particular area of research. We examine the literature on post-1970 trends in poverty and income inequality, up to 2010 or 2011 in most countries. We provide measures of the levels and trends in each of these areas, as well as an integrated discussion of empirical choices made in the measurement of poverty, overall income inequality, and inequality among those with top incomes.']
### GND ID:
['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165072X']
### GND class:
['Einkommensverteilung']
<|eot_id|> |
3A1831650746.jsonld | ['Chapter 6. Statistical Methods for Distributional Analysis'] | ['This chapter discusses the formal and informal techniques that are commonly used to give quantitative answers in the field of distributional analysis. To this end, it covers subjects including inequality, poverty, and the modeling of income distributions. It also deals with parametric and nonparametric approaches and the way in which imperfections in data may be handled in practice.'] | ['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650746'] | ['Einkommensverteilung'] | Document
### Title: ['Chapter 6. Statistical Methods for Distributional Analysis']
### Abstract:
['This chapter discusses the formal and informal techniques that are commonly used to give quantitative answers in the field of distributional analysis. To this end, it covers subjects including inequality, poverty, and the modeling of income distributions. It also deals with parametric and nonparametric approaches and the way in which imperfections in data may be handled in practice.']
### GND ID:
['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650746']
### GND class:
['Einkommensverteilung']
<|eot_id|> |
3A1831650770.jsonld | ['Chapter 3. Multidimensional Poverty and Inequality'] | ['This chapter examines different approaches to the measurement of multidimensional inequality and poverty. It first outlines three aspects preliminary to any multidimensional study: the selection of the relevant dimensions, the indicators used to measure them, and the procedures for their weighting. It then considers the counting approach and the axiomatic treatment in poverty measurement. Finally, it reviews the axiomatic approach to inequality analysis. The chapter also provides a selective review of the rapidly growing theoretical literature with the twofold aim of highlighting areas for future research and offering some guidance on how to use multidimensional methods in empirical and policy-oriented applications.'] | ['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650770'] | ['Einkommensverteilung'] | Document
### Title: ['Chapter 3. Multidimensional Poverty and Inequality']
### Abstract:
['This chapter examines different approaches to the measurement of multidimensional inequality and poverty. It first outlines three aspects preliminary to any multidimensional study: the selection of the relevant dimensions, the indicators used to measure them, and the procedures for their weighting. It then considers the counting approach and the axiomatic treatment in poverty measurement. Finally, it reviews the axiomatic approach to inequality analysis. The chapter also provides a selective review of the rapidly growing theoretical literature with the twofold aim of highlighting areas for future research and offering some guidance on how to use multidimensional methods in empirical and policy-oriented applications.']
### GND ID:
['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650770']
### GND class:
['Einkommensverteilung']
<|eot_id|> |
3A1831650789.jsonld | ['Chapter 2. Inequality, Income, and Well-Being'] | ['Individual well-being depends not only on income but also on other dimensions of life, such as health, the quality of social relations and of the environment, employment, and job satisfaction. In this chapter we survey the economic literature on how to construct such overall measures of well-being. We distinguish three approaches: the capability (and functionings) approach, the use of subjective life satisfaction measures, and the calculation of equivalent incomes. We discuss the normative assumptions underlying these three approaches, focusing on two issues: the degree to which individual preferences are respected and where in each approach the boundaries of individual responsibility are drawn. We compare the measurement of inequality in well-being with the use of multidimensional inequality measures. We illustrate the general theoretical issues in three domains of application: measuring the effects of household size and composition in the literature on equivalence scales, valuing publicly provided goods and services, and making international comparisons of well-being involving international purchasing power parity comparisons.'] | ['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650789'] | ['Einkommensverteilung'] | Document
### Title: ['Chapter 2. Inequality, Income, and Well-Being']
### Abstract:
['Individual well-being depends not only on income but also on other dimensions of life, such as health, the quality of social relations and of the environment, employment, and job satisfaction. In this chapter we survey the economic literature on how to construct such overall measures of well-being. We distinguish three approaches: the capability (and functionings) approach, the use of subjective life satisfaction measures, and the calculation of equivalent incomes. We discuss the normative assumptions underlying these three approaches, focusing on two issues: the degree to which individual preferences are respected and where in each approach the boundaries of individual responsibility are drawn. We compare the measurement of inequality in well-being with the use of multidimensional inequality measures. We illustrate the general theoretical issues in three domains of application: measuring the effects of household size and composition in the literature on equivalence scales, valuing publicly provided goods and services, and making international comparisons of well-being involving international purchasing power parity comparisons.']
### GND ID:
['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650789']
### GND class:
['Einkommensverteilung']
<|eot_id|> |
3A1831650797.jsonld | ['Chapter 1. The Principal Problem in Political Economy : Income Distribution in the History of Economic Thought'] | ['This chapter considers the history of theories of income distribution, from the time of Adam Smith until the 1970s. It is divided into two main parts. Part I considers the positive theory of income distribution, beginning with the classical economists’ analysis of the functional distribution of income between wages, profits, and rent. It goes on to present the new theories that emerged with the marginalist revolution and which were based on maximizing behavior and market equilibrium. The main focus during the early stages of the new developments was on the markets for consumer goods and the role of marginal utility in price determination. The later neoclassical economists, including Alfred Marshall and Knut Wicksell, paid more attention to the special features that characterized the labor market and the role of marginal productivity in wage formation. In the twentieth century, the neoclassical theory was extended to include analysis of the role of imperfect competition, human capital, and risk-taking. Also included in this part of the chapter is a discussion of statistical and institutional approaches. Part II covers normative theories of income distribution and their implications for redistributive policy. It begins with a consideration of the value judgments implicit in the policy recommendations of the classical economists and continues with the attempts to establish an analytical foundation for welfare economics. The rise of Paretian welfare theory with its emphasis on the impossibility of interpersonal comparisons of utility made it difficult to draw conclusions regarding income redistribution, but the older utilitarian approach, including equal sacrifice theories, continued to live on in the modern analysis of optimal redistribution. A short Part III contains some concluding reflections on the position of income distribution theory within economics as a whole.'] | ['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650797'] | ['Einkommensverteilung'] | Document
### Title: ['Chapter 1. The Principal Problem in Political Economy : Income Distribution in the History of Economic Thought']
### Abstract:
['This chapter considers the history of theories of income distribution, from the time of Adam Smith until the 1970s. It is divided into two main parts. Part I considers the positive theory of income distribution, beginning with the classical economists’ analysis of the functional distribution of income between wages, profits, and rent. It goes on to present the new theories that emerged with the marginalist revolution and which were based on maximizing behavior and market equilibrium. The main focus during the early stages of the new developments was on the markets for consumer goods and the role of marginal utility in price determination. The later neoclassical economists, including Alfred Marshall and Knut Wicksell, paid more attention to the special features that characterized the labor market and the role of marginal productivity in wage formation. In the twentieth century, the neoclassical theory was extended to include analysis of the role of imperfect competition, human capital, and risk-taking. Also included in this part of the chapter is a discussion of statistical and institutional approaches. Part II covers normative theories of income distribution and their implications for redistributive policy. It begins with a consideration of the value judgments implicit in the policy recommendations of the classical economists and continues with the attempts to establish an analytical foundation for welfare economics. The rise of Paretian welfare theory with its emphasis on the impossibility of interpersonal comparisons of utility made it difficult to draw conclusions regarding income redistribution, but the older utilitarian approach, including equal sacrifice theories, continued to live on in the modern analysis of optimal redistribution. A short Part III contains some concluding reflections on the position of income distribution theory within economics as a whole.']
### GND ID:
['gnd:4013898-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650797']
### GND class:
['Einkommensverteilung']
<|eot_id|> |
3A1831650878.jsonld | ['Chapter 20. Credit Derivatives'] | ['This chapter explains how the main types of credit derivatives work and how they are valued. Central to the valuation of credit derivatives is an estimation of the probability that reference entities will default. The chapter discusses both the risk-neutral probabilities of default implied from credit spreads and the real-world (physical) default probabilities calculated from historical data, such as that provided by rating agencies. The academic literature attempting to explain the difference between these two probability estimates is summarized. The characteristics of credit default swaps, which are the most common type of single-name derivatives, are discussed, and procedures used to determine the contract values are explained. A similar presentation is provided for collateralized debt obligations, which are the most common type of multi-name credit derivatives. The chapter ends with a discussion of the economics of the collateralized debt obligation market and the role that these products played in the US financial crisis, which started in 2007.'] | ['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650878'] | ['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)'] | Document
### Title: ['Chapter 20. Credit Derivatives']
### Abstract:
['This chapter explains how the main types of credit derivatives work and how they are valued. Central to the valuation of credit derivatives is an estimation of the probability that reference entities will default. The chapter discusses both the risk-neutral probabilities of default implied from credit spreads and the real-world (physical) default probabilities calculated from historical data, such as that provided by rating agencies. The academic literature attempting to explain the difference between these two probability estimates is summarized. The characteristics of credit default swaps, which are the most common type of single-name derivatives, are discussed, and procedures used to determine the contract values are explained. A similar presentation is provided for collateralized debt obligations, which are the most common type of multi-name credit derivatives. The chapter ends with a discussion of the economics of the collateralized debt obligation market and the role that these products played in the US financial crisis, which started in 2007.']
### GND ID:
['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650878']
### GND class:
['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)']
<|eot_id|> |
3A1831650894.jsonld | ['Chapter 18. Bubbles, Financial Crises, and Systemic Risk'] | ['This chapter surveys the literature on bubbles, financial crises, and systemic risk. The first part of the chapter provides a brief historical account of bubbles and financial crisis. The second part of the chapter gives a structured overview of the literature on financial bubbles. The third part of the chapter discusses the literatures on financial crises and systemic risk, with particular emphasis on amplification and propagation mechanisms during financial crises, and the measurement of systemic risk. Finally, we point toward some questions for future research.'] | ['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650894'] | ['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)'] | Document
### Title: ['Chapter 18. Bubbles, Financial Crises, and Systemic Risk']
### Abstract:
['This chapter surveys the literature on bubbles, financial crises, and systemic risk. The first part of the chapter provides a brief historical account of bubbles and financial crisis. The second part of the chapter gives a structured overview of the literature on financial bubbles. The third part of the chapter discusses the literatures on financial crises and systemic risk, with particular emphasis on amplification and propagation mechanisms during financial crises, and the measurement of systemic risk. Finally, we point toward some questions for future research.']
### GND ID:
['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650894']
### GND class:
['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)']
<|eot_id|> |
3A1831650908.jsonld | ['Chapter 17. Financial Risk Measurement for Financial Risk Management'] | ['Current practice largely follows restrictive approaches to market risk measurement, such as historical simulation or RiskMetrics. In contrast, we propose flexible methods that exploit recent developments in financial econometrics and are likely to produce more accurate risk assessments, treating both portfolio-level and asset-level analysis. Asset-level analysis is particularly challenging because the demands of real-world risk management in financial institutions—in particular, real-time risk tracking in very high-dimensional situations—impose strict limits on model complexity. Hence we stress powerful yet parsimonious models that are easily estimated. In addition, we emphasize the need for deeper understanding of the links between market risk and macroeconomic fundamentals, focusing primarily on links among equity return volatilities, real growth, and real growth volatilities. Throughout, we strive not only to deepen our scientific understanding of market risk, but also cross-fertilize the academic and practitioner communities, promoting improved market risk measurement technologies that draw on the best of both.'] | ['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650908'] | ['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)'] | Document
### Title: ['Chapter 17. Financial Risk Measurement for Financial Risk Management']
### Abstract:
['Current practice largely follows restrictive approaches to market risk measurement, such as historical simulation or RiskMetrics. In contrast, we propose flexible methods that exploit recent developments in financial econometrics and are likely to produce more accurate risk assessments, treating both portfolio-level and asset-level analysis. Asset-level analysis is particularly challenging because the demands of real-world risk management in financial institutions—in particular, real-time risk tracking in very high-dimensional situations—impose strict limits on model complexity. Hence we stress powerful yet parsimonious models that are easily estimated. In addition, we emphasize the need for deeper understanding of the links between market risk and macroeconomic fundamentals, focusing primarily on links among equity return volatilities, real growth, and real growth volatilities. Throughout, we strive not only to deepen our scientific understanding of market risk, but also cross-fertilize the academic and practitioner communities, promoting improved market risk measurement technologies that draw on the best of both.']
### GND ID:
['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650908']
### GND class:
['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)']
<|eot_id|> |
3A1831650916.jsonld | ['Chapter 16. Hedge Funds'] | ['This chapter begins with a brief history of hedge funds from the perspective of hedge fund investors—exploring the attributes that attracted private, wealthy investors to an opaque, nascent hedge fund industry during the decades leading up to new millennium. Following the chronology of several important market events, the first two sections traces the performance of hedge funds from these early days of the industry to the recent decade during which institutional investor emerged as the dominant investor group—a phenomenon that began shortly after the burst of the dot-com bubble and survives to this date. The arrival of institutional investors did much to encourage more transparency on the way hedge funds operate and spurred the development of performance benchmarks and databases. Using these benchmarks of hedge funds section two assesses the risk-adjusted performance of hedge funds during these decades of changing investor clientele. An important attraction of the hedge fund industry to portfolio investors is the rich tapestry of strategies with widely divergent risk-return characteristics. Section 3 is devoted to models of different categories of hedge fund strategies and highlights the drivers of performance as well as their inherent risk factors. Armed with these analytical tools and the empirical evidence on the capital formation process since the turn of the century, section 4 begins by tackling the problem of portfolio construction. The section continues with a reminder on the impact of leverage inherent in most hedge fund strategies and argues that risk management must take into account both dimensions of risk—those that emanates from holding risky assets as well as attendant risk of funding leveraged positions. The chapter concludes with discussions the impact of hedge fund research on product innovations, risk management of leverage hedge fund products and performance evaluation.'] | ['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650916'] | ['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)'] | Document
### Title: ['Chapter 16. Hedge Funds']
### Abstract:
['This chapter begins with a brief history of hedge funds from the perspective of hedge fund investors—exploring the attributes that attracted private, wealthy investors to an opaque, nascent hedge fund industry during the decades leading up to new millennium. Following the chronology of several important market events, the first two sections traces the performance of hedge funds from these early days of the industry to the recent decade during which institutional investor emerged as the dominant investor group—a phenomenon that began shortly after the burst of the dot-com bubble and survives to this date. The arrival of institutional investors did much to encourage more transparency on the way hedge funds operate and spurred the development of performance benchmarks and databases. Using these benchmarks of hedge funds section two assesses the risk-adjusted performance of hedge funds during these decades of changing investor clientele. An important attraction of the hedge fund industry to portfolio investors is the rich tapestry of strategies with widely divergent risk-return characteristics. Section 3 is devoted to models of different categories of hedge fund strategies and highlights the drivers of performance as well as their inherent risk factors. Armed with these analytical tools and the empirical evidence on the capital formation process since the turn of the century, section 4 begins by tackling the problem of portfolio construction. The section continues with a reminder on the impact of leverage inherent in most hedge fund strategies and argues that risk management must take into account both dimensions of risk—those that emanates from holding risky assets as well as attendant risk of funding leveraged positions. The chapter concludes with discussions the impact of hedge fund research on product innovations, risk management of leverage hedge fund products and performance evaluation.']
### GND ID:
['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650916']
### GND class:
['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)']
<|eot_id|> |
3A1831650924.jsonld | ['Chapter 15. Mutual Funds'] | ['In this chapter we examine the three main types of mutual funds, open end funds, closed end funds and exchange traded funds. After a description of each of these organizational forms, we discuss the principle research issues for each type. For open end mutual funds, this includes performance measurement techniques, how well funds have performed, and the informational content of past performances, how well investors do in selecting funds, and the determinants of cash flows into funds. For closed end funds, we discuss determinants of the discount and why this organizational form exists. Finally for exchange traded funds our discussion includes how well they track the index, their performance, and some additional topics.'] | ['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650924'] | ['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)'] | Document
### Title: ['Chapter 15. Mutual Funds']
### Abstract:
['In this chapter we examine the three main types of mutual funds, open end funds, closed end funds and exchange traded funds. After a description of each of these organizational forms, we discuss the principle research issues for each type. For open end mutual funds, this includes performance measurement techniques, how well funds have performed, and the informational content of past performances, how well investors do in selecting funds, and the determinants of cash flows into funds. For closed end funds, we discuss determinants of the discount and why this organizational form exists. Finally for exchange traded funds our discussion includes how well they track the index, their performance, and some additional topics.']
### GND ID:
['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650924']
### GND class:
['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)']
<|eot_id|> |
3A1831650932.jsonld | ['Chapter 14. Investment Performance: A Review and Synthesis'] | ['This chapter provides a perspective on the rapidly developing literature on investment performance evaluation. I use the stochastic discount factor approach to present and critique current performance measurement techniques in a unified setting. I offer a number of suggestions to improve performance measurement in future research. I also review recent research on the performance of mutual funds, hedge funds, pension funds, and other investment vehicles.'] | ['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650932'] | ['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)'] | Document
### Title: ['Chapter 14. Investment Performance: A Review and Synthesis']
### Abstract:
['This chapter provides a perspective on the rapidly developing literature on investment performance evaluation. I use the stochastic discount factor approach to present and critique current performance measurement techniques in a unified setting. I offer a number of suggestions to improve performance measurement in future research. I also review recent research on the performance of mutual funds, hedge funds, pension funds, and other investment vehicles.']
### GND ID:
['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831650932']
### GND class:
['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)']
<|eot_id|> |
3A183165105X.jsonld | ['Chapter 11. Sovereign Debt'] | ['In this chapter, we use a benchmark limited-commitment model to explore key issues in the economics of sovereign debt. After highlighting conceptual issues that distinguish sovereign debt as well as reviewing a number of empirical facts, we use the model to discuss debt overhang, risk-sharing, and capital flows in an environment of limited enforcement. We also discuss recent progress on default and renegotiation; self-fulfilling debt crises; and incomplete markets and their quantitative implications. We conclude with a brief assessment of the current state of the literature and highlight some directions for future research.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165105X'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 11. Sovereign Debt']
### Abstract:
['In this chapter, we use a benchmark limited-commitment model to explore key issues in the economics of sovereign debt. After highlighting conceptual issues that distinguish sovereign debt as well as reviewing a number of empirical facts, we use the model to discuss debt overhang, risk-sharing, and capital flows in an environment of limited enforcement. We also discuss recent progress on default and renegotiation; self-fulfilling debt crises; and incomplete markets and their quantitative implications. We conclude with a brief assessment of the current state of the literature and highlight some directions for future research.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165105X']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831651068.jsonld | ['Chapter 10. External Adjustment, Global Imbalances, Valuation Effects'] | ['We provide an overview of the recent developments of the literature on the determinants of long-term capital flows, global imbalances, and valuation effects. We present the main stylized facts of the new international financial landscape in which external balance sheets of countries have grown in size and discuss implications for the international monetary and financial system.'] | ['gnd:124546838', 'gnd:124773702', 'gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651068'] | ['Rey, Hélène', 'Gourinchas, Pierre-Olivier', 'Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 10. External Adjustment, Global Imbalances, Valuation Effects']
### Abstract:
['We provide an overview of the recent developments of the literature on the determinants of long-term capital flows, global imbalances, and valuation effects. We present the main stylized facts of the new international financial landscape in which external balance sheets of countries have grown in size and discuss implications for the international monetary and financial system.']
### GND ID:
['gnd:124546838', 'gnd:124773702', 'gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651068']
### GND class:
['Rey, Hélène', 'Gourinchas, Pierre-Olivier', 'Welthandel', 'Weltwirtschaft']
<|eot_id|> |
Subsets and Splits