China�s economy is experiencing a regime shift away from a fully elastic supply of labor from a large pool of rural surplus labor and toward a situation of increasing labor scarcity and rising wage rates. Moreover, faster wage increases in the regions of origin of many rural�urban migrants are likely to affect the dynamics of inter-regional migration. These wage trends have implicatio…

Tahun Terbit

2013

Self-protection is a key behavior that influences infectious disease risks. Spillovers in disease protection create different types of strategic interactions. Under certain conditions, multiple Nash equilibria may arise with the possibility of coordination failure involving excessively low selfprotection, in which case individuals� expectations of others� efforts determine which outc…

Tahun Terbit

2014

Through constructing a new Keynesian DSGE model with heterogeneous agents, this article investigates both the aggregate and distributional consequences of fiscal policy. Polarized preferences over the conduct of fiscal policy emerge between those agents who participate in credit markets and those who do not. Exogenous shocks impact the two types of agent differently, and as a result, fiscal pol…

A large literature links currency crashes and reversals in a country�s net external borrowing to output losses. In this article, we find that contractions in the stock of gross foreign claims on a country�a phenomenon we call gross foreign investment reversals (GIRs)�are also associated with output declines. GIRs are specially harmful during currency, current account, and sudden …

Increases in standard hours of work have been a contentious policy issue in Germany. Whilst this might directly lead to a substitution of workers by hours, there may also be a positive employment effect due to reduced costs. Moreover, the response of firms may differ between firms that offer overtime and those that do not. For a panel of German plants (2001�2006) drawn from the IAB Establi…

Tahun Terbit

2015

Tahun Terbit

2015

Tahun Terbit

2015