The response of local governments to Reagan-Bush fiscal federalism

Fiscal policy ; Local government

Measuring the Effect of Revealed Cultural Preferences on Tourism Exports

The aim of this article is to propose a novel method for measuring the effect of cultural preference on bilateral tourism receipts. The method applied is inspired from Disdier et al. (2010). Using the UNESCO classification and data on bilateral trade in cultural product, a proxy for cultural preferences is constructed. The variable is used in a gravity model for tourism export, which is estimated using a two-step procedure to avoid issues related to endogeneity. The data set used is a panel of 12 OECD countries for a period of 11 years. The variable for cultural preferences eliminates the problems with traditional methods, which by using dummy variables to account for cultural preferences, assume that the latter are time-invariant and symmetrical. The cultural variable constructed is found to be significant in explaining bilateral tourism exports with an elasticity of 0.39. © The Author(s) 2018

How to measure segregation conditional on the distribution of covariates

Segregation, Covariates, Workplaces, C1, J1, J2,

The Missing Globalization Puzzle: Evidence of the Declining Importance of Distance

Globalization can be characterized as the rapid increase in international trade spurred by advances in technology that have decreased the cost of trade. As costs have declined, so too, it would seem, should the estimated distance coefficient in the gravity model of bilateral trade. But a standard empirical result is that these estimated coefficients have been broadly stable, a result that might be called the “missing globalization puzzle.” In contrast to results from the literature, we find evidence of globalization reflected in the estimated coefficients on distance in both cross-section and panel data. Our estimation procedures fully incorporate the information contained in observations where bilateral trade is zero and hence do not suffer from the potential estimation bias when observations where bilateral trade is zero are arbitrarily excluded from the sample. IMF Staff Papers (2007) 54, 34–58. doi:10.1057/palgrave.imfsp.9450003

Productivity and efficiency of state-owned enterprises in China

SOE efficiency, SOE performance, Malmquist index of productivity, Productivity growth, O4, P2,

Does Cultural Distance Hinder Trade in Goods? A Comparative Study of Nine OECD Member Nations

Cultural distance, Gravity, Immigration, Trade, F14, F15, F22,