Discussion Paper

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Housing, the ‘Great Income Tax Experiment’, and the intergenerational consequences of the lease

Coleman, Andrew (Discussion Paper, 2017)

This paper provides an analysis of how the New Zealand tax system may be affecting residential property markets. Like most OECD countries, New Zealand does not tax the imputed rent or capital gains from owner-occupied ...
Gone with the Wind: International Migration

Aburn, Amelia; Wesselbaum, Dennis (Discussion Paper, 2017)

This paper adds to the literature on the determinants of international migration. First, we offer a joint analysis of the driving forces of migration capturing year-to-year variations and long-run effects. Second, we ...
Access to Financing and Firm Growth: Evidence from Ethiopia

Regasa, Dereje; Fielding, David; Roberts, Helen (Discussion Paper, 2017)

Using Ethiopian firm-level data, we model the effect of different types of financing on firm growth. The form of financing is potentially endogenous to firm growth, and one contribution of this paper is to introduce a new ...
The impact of climate change on crop production in Ghana: A Structural Ricardian analysis

Etwire, Prince M.; Fielding, David; Kahui, Victoria (Discussion Paper, 2017)

We apply a Structural Ricardian Model (SRM) to farm-level data from Ghana in order to estimate the impact of climate change on crop production. The SRM explicitly incorporates changes in farmers’ crop selection in response ...
Health Shocks and Child Time Allocation Decisions by Households: Evidence from Ethiopia

Dinku, Yonatan; Fielding, David; Genc, Murat (Discussion Paper, 2017)

Little is currently known about the effects of shocks to parental health on the allocation of children’s time between alternative activities. Using longitudinal data from the Ethiopian Young Lives surveys of 2006 and 2009, ...
The true significance of ‘high’ correlations between EQ-5D value sets

Ombler, Franz; Albert, Michael; Hansen, Paul (Discussion Paper, 2017)

High correlation coefficients for EQ-5D value sets derived from different samples, e.g. across countries, are conventionally interpreted as evidence that the people in the respective samples have similar health-related ...
A balancing approach: using the living standards framework to assess different retirement income policies

Coleman, Andrew (Discussion Paper, 2017)

This paper evaluates four retirement income policies that could be adopted in response to increasing longevity in terms of their marginal effects on economic performance, equity, risk, social infrastructure, and ...
Mixed Reality Experience Questionnaire (MREQ) -Reference

Regenbrecht, Holger; Botella, Cristina; Baños, Rosa; Schubert, Thomas (Discussion Paper, 2017)

The Mixed Reality Experience Questionnaire (MREQ) is designed to be used as a measure of a user's sense of presence and their general experienced perception of an Augmented Reality, Virtual Reality, or Augmented Virtuality ...
Delays in Public Goods

Chatterjee, Santanu; Posch, Olaf; Wesselbaum, Dennis (Discussion Paper, 2017)

In this paper, we analyze the consequences of delays and cost overruns typically associated with the provision of public infrastructure in the context of a growing economy. Our results indicate that uncertainty about the ...
When does it matter how you ask? Cross-subject heterogeneity in framing effects in a charitable donation experiment

Fielding, David; Knowles, Stephen; Robertson, Kirsten (Discussion Paper, 2017)

In this paper we present results from an experiment that draws on insights from economics on different possible incentives for generosity and insights from social psychology on different possible personality types. Firstly, ...
Does institutional quality resolve the Lucas Paradox?

Akhtaruzzaman, Muhammad; Hajzler, Christopher; Owen, P. Dorian (Discussion Paper, 2016)

The Lucas Paradox observes that capital flows predominantly to relatively rich countries, contradicting the neoclassical prediction that it should flow to poorer capital-scarce countries. Alfaro, Kalemli-Ozcan, and Volosovych ...
How do empowerment and self-determination affect national health outcomes?

Garces-Ozanne, Arlene; Kalu, Edna Ikechi; Audas, Richard (Discussion Paper, 2016)

There remains a persistent gap in health outcomes between wealthy and poor countries. Basic measures such as life expectancy, infant and child mortality remain divergent, with preventable deaths being unacceptably high, ...
Dire Straits v The Cure: Emphasising the Problem or the Solution in Charitable Fundraising for International Development

Clark, Jeremy; Garces-Ozanne, Arlene; Knowles, Stephen (Discussion Paper, 2016)

We conduct a laboratory experiment to test the effect on charitable donations to international development NGOs (INGOs) of emphasising current deprivation in a developing country, versus emphasising the potential good a ...
A New Test of Ricardian Equivalence Using the Narrative Record on Tax Changes

Haug, Alfred (Discussion Paper, 2016)

This paper empirically tests the Ricardian equivalence hypothesis with a narrative measure of tax shocks. The present value, at the time of legislation,for tax increases motivated solely by concerns for improving the ...
Is Zimbabwe More Productive Than the United States? Some Observations From PWT 8.1

İmrohoroğlu, Ayşe; Üngör, Murat (Discussion Paper, 2016)

In Penn World Table (PWT) 8.1, several developing countries stand out as outliers with high total factor productivity (TFP) levels relative to the United States (U.S.). For example, in 2011, Zimbabwe and Trinidad and ...
Bilateral foreign aid: How important is aid effectiveness to people for choosing countries to support?

Cunningham, Harry; Knowles, Stephen; Hansen, Paul (Discussion Paper, 2016)

We conduct a discrete choice experiment (DCE) to determine how important aid effectiveness is to people relative to other criteria for choosing countries to support with bilateral foreign aid. We find that aid effectiveness ...
Cheap Talk in a New Keynesian Model

Wesselbaum, Dennis (Discussion Paper, 2016)

This paper shows that the stance of fiscal policy does have significant impact on the conduct of monetary policy in the United States. Further, we document that the implied fiscal-monetary policy interactions are subject ...
Jobless Recoveries: The Interaction between Financial and Search Frictions

Wesselbaum, Dennis (Discussion Paper, 2016)

This paper establishes a link between labor market frictions and financial market frictions. We present empirical evidence about the relation between search and financial frictions. Then, we build a stylized DSGE model ...
Did the FED React to Asset Price Bubbles?

Luik, Marc-Andre; Wesselbaum, Dennis (Discussion Paper, 2016)

This paper investigates whether the U. S. Federal Reserve responds to asset price bubbles or not. We estimate a DSGE model featuring a financial accelerator and a process for asset price bubbles. We find evidence for a ...
The Lion on the Move Towards the World Frontier: Catching Up or Remaining Stuck?

Ungor, Murat; Harchaoui, Tarek M. (Discussion Paper, 2016)

The remarkable growth spurt reported by the Sub-Saharan African (SSA) economy since the mid-1990s offers the opportunity to revisit the narrative of its economic development experience. We investigate whether the SSA economy ...