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Harvard Institute of Economic Research

Overview
Works: 1,467 works in 2,074 publications in 1 language and 3,126 library holdings
Genres: Periodicals  Vital statistics 
Roles: Editor, Other
Publication Timeline
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Most widely held works by Harvard Institute of Economic Research
Discussion paper series (Hamilton Project) by Harvard Institute of Economic Research( )

in English and held by 126 WorldCat member libraries worldwide

Discussion paper( )

in English and held by 38 WorldCat member libraries worldwide

Real wages and relative factor prices in the Third World 1820-1940 : Latin America by Jeffrey G Williamson( Book )

6 editions published in 1998 in English and held by 14 WorldCat member libraries worldwide

Growth, economies of scale, and targeting in Japan (1955-1990) by Dick Beason( Book )

3 editions published between 1993 and 1994 in English and held by 13 WorldCat member libraries worldwide

The Mexican peso crisis : sudden death or death foretold? by Jeffrey Sachs( Book )

4 editions published in 1996 in English and held by 13 WorldCat member libraries worldwide

We argue that allowing for the possibility of a self-fulfilling panic helps in understanding several features of the recent Mexican crisis. Self-fulfilling expectations became decisive in generating a panic only after the government ran down gross reserves and ran up short-term dollar debt. We present a simple model to explain how and why multiple equilibria can occur for some levels of reserves or debt, but not for others. Lastly, we argue that the imperfect credibility of Mexican exchange rate policy made it advisable to follow more contractionary fiscal and monetary policies in 1994. Our model formalizes the reasons why this is so
Financial crises in emerging markets : the lessons from 1995 by Jeffrey Sachs( Book )

3 editions published in 1996 in English and held by 12 WorldCat member libraries worldwide

In this paper we examine closely the financial events following the Mexican peso devaluation to uncover new lessons about the nature of financial crises. We explore the question of why, during 1995, some emerging markets were hit by financial crises while others were not. To this end, we ask whether there are some fundamentals that help explain the variation in financial crises across countries or whether the variation just reflects contagion. We present a simple model identifying three factors that determine whether a country is more vulnerable to suffer a financial crisis: a high real exchange rate appreciation, a recent lending boom, and low reserves. We find that for a set of 20 emerging markets, differences in these fundamentals go far in explaining why during 1995 some emerging markets were hit by financial crises while others were not. We also find that alternative hypotheses that have been put forth to explain such crises often do not seem to be supported by the data, such as high current account deficits, excessive capital inflows and loose fiscal policies
Public policy implications of declining old age mortality by James M Poterba( Book )

3 editions published in 1985 in English and held by 11 WorldCat member libraries worldwide

Why aren't savings rates in Latin America procyclical? by Philip R Lane( Book )

2 editions published in 1998 in English and held by 10 WorldCat member libraries worldwide

We document a striking empirical regularity: Latin American savings rates are as a rule substantially less procyclical than for OECD countries and in some cases are actually countercyclical. We build a non-representative agent intertemporal macroeconomic model that rationalizes this phenomenon as the equilibrium outcome of interaction between multiple groups that have common access to aggregate income. We conclude by suggesting that institutional reform may hold the key to improving the cyclical behavior of savings in Latin America
Price versus quantity : market clearing mechanisms when sellers differ in quality by Andrew Metrick( Book )

2 editions published in 1996 in English and held by 10 WorldCat member libraries worldwide

High-quality producers in a vertically differentiated market can reap superior profits by charging higher prices, selling greater quantities, or both. If qualities are known by consumers and production costs are constant, then having a higher quality secures the producer both higher price and higher quantity; if marginal costs are rising, having a higher quality assures only higher price. If only some consumers can discern quality but others cannot, then high- and low-quality producers may set a common price, but the high-quality producer will sell more. In this context, quality begets quantity. Empirical analyses suggest that in both the mutual fund and automobile industries, high-quality producers sell more units than their low-quality competitors, but at no higher price (or markup) per unit
Tax reform and the cost of capital : an international comparison by Dale W Jorgenson( Book )

3 editions published in 1992 in English and held by 10 WorldCat member libraries worldwide

This book provides international comparisons of the cost of different types of capital for nine major industrialized countries (Australia, Canada, France, Germany, Italy, Japan, Sweden, United Kingdom, and the U.S.A.) for the period 1980-90. In the early 1980s the introduction of tax incentives for saving and investment gradually shifted the tax base from income toward consumption. By 1990 most of these special tax provisions had been reduced or repealed in order to lower tax rates and equalize the tax treatment of different forms of capital income. Income was firmly reestablished as the most appropriate basis for taxation. Separate chapters for each of the nine countries provide detailed accounts of tax policy changes over the decade. Each chapter contains a quantitative description of these tax policies and summarizes this information in the form of effective tax rates
Does economic geography matter for international specialization? by Donald R Davis( Book )

4 editions published between 1996 and 1997 in English and held by 10 WorldCat member libraries worldwide

There are two principal theories of why countries trade: comparative advantage and increasing returns to scale. Yet there is no empirical work that assesses the relative importance of these two theories in accounting for production structure and trade. We use a framework that nests an increasing returns model of economic geography featuring home market effects with that of Heckscher-Ohlin-Vanek. We employ these trade models to account for the structure of OECD manufacturing production. The data militate against the economic geography framework. Moreover, even in the specification most generous to economic geography, endowments account for 90 percent of the explainable variance, economic geography but 10 percent
Retaliatory mechanisms for eliminating trade barriers : aggressive unilateralism vs. GATT cooperation by Kathryn E Spier( Book )

3 editions published in 1993 in English and held by 10 WorldCat member libraries worldwide

Economic geography and regional production structure : an empirical investigation by Donald R Davis( Book )

3 editions published in 1997 in English and held by 10 WorldCat member libraries worldwide

There are two principal theories of why countries or regions trade: comparative advantage and increasing returns to scale. Yet there is virtually no empirical work that assesses the relative importance of these two theories in accounting for production structure and trade. We use a framework that nests an increasing returns model of economic geography featuring market effects trade models to account for the structure of regional production in Japan. We find support for the existence of economic geography effects in eight of nineteen manufacturing sectors, including such important ones as transportation equipment, iron and steel, electrical machinery, and chemicals. Moreover, we find that these effects are economically very significant. The latter contrasts with the results of Davis and Weinstein (1997), which found scant economic significance of economic geography for the structure of OECD production. We conclude that while economic geography may explain little about the international structure of production, it is very important for understanding the regional structure of production
Wage inequality and segregation by skill by Michael Kremer( Book )

2 editions published in 1996 in English and held by 10 WorldCat member libraries worldwide

Evidence from the US, Britain, and France suggests that recent growth in wage inequality has been accompanied by greater segregation of high- and low-skill workers into separate firms. A model in which workers of different skill-levels are imperfect substitutes can simultaneously account for these increases in segregation and inequality either through technological change, or, more parsimoniously, through observed changes in the skill-distribution
Understanding China's economic performance by Jeffrey Sachs( Book )

3 editions published in 1997 in English and held by 9 WorldCat member libraries worldwide

Abstract: Broadly speaking, two schools of thought have emerged to interpret China's rapid growth since 1978:the experimentalist school and the convergence school. The experimentalist school attributes China's successes to the evolutionary, experimental, and incremental nature of China's reforms. Specifically, the resulting non-capitalist institutions are said to be successful in (a) agri- culture where land is not owned by the farmers; (b) township and village en- terprises (TVEs) which are owned collectively by rural communities; and (c) state owned enterprises (SOEs) where increased competition and increased wage incentive, not privatization, have been emphasized. The convergence school holds that China's successes are the result of its institutions being allowed to converge with those of non-socialist market economies, and that China's economic structure at the start of reforms is a major reason for the fast growth. China had a high population density heavily concentrated in low-wage agriculture which was favorable for labor-intensive export-led growth in other parts of East Asia. The convergence school also holds that China's gradualism results mainly from a lack of consensus over the proper course, with power divided between market reformers and old-style socialists; and that the 'inno- ative economic circumstances. Perhaps the best test of the two approaches is whether China's policy choices are in fact leading to institutions harmonized with normal market economies or to more distinctive innovations. The recent policy trend has been towards institutional harmonization rather than institutional innovation, suggesting that the government accepts that the ingredients for a dynamic market economy are already well-known
Reform from within by Aaron Tornell( Book )

2 editions published in 1998 in English and held by 9 WorldCat member libraries worldwide

We present a model of endogenous institutional change that rationalizes reforms that have taken place in the context of economic crisis and drastic political change. Most of the reforms have been initiated by powerholders, even though they have ended worse off relative to the status quo. The first point we make is that reform is the tool used by some powerful groups to limit the power of their political opponents. The second point is that groups with common access' to the economy's resources find it individually rational to overappropriate resources. As a result the economy deteriorates. When the economy reaches a crisis conflict among groups erupts. Reform is the result of this conflict
Markov perfect equilibrium, I : observable actions by Eric Maskin( Book )

5 editions published between 1994 and 1997 in English and held by 9 WorldCat member libraries worldwide

The proper scope of government : theory and an application to prisons by Oliver D Hart( Book )

3 editions published in 1996 in English and held by 9 WorldCat member libraries worldwide

When should a government provide a service inhouse and when should it contract out provision? We develop a model in which the provider can invest in improving the quality of service or reducing cost. If contracts are incomplete, the private provider has a stronger incentive to engage in both quality improvement and cost reduction than a government employee. However, the private contractor's incentive to engage in cost reduction is typically too strong because he ignores the adverse effect on non-contractible quality. The model is applied to understanding the costs and benefits of prison privatization
On the economic analysis of labor market institutions and institutional change by Richard B Freeman( Book )

4 editions published in 1992 in English and held by 9 WorldCat member libraries worldwide

Hierarchical Bayes models with many instrumental variables by Gary Chamberlain( Book )

3 editions published in 1996 in English and held by 9 WorldCat member libraries worldwide

In this paper, we explore Bayesian inference in models with many instrumental variables that are potentially weakly correlated with the endogenous regressor. The prior distribution has a hierarchical (nested) structure. We apply the methods to the Angrist-Krueger (AK, 1991) analysis of returns to schooling using instrumental variables formed by interacting quarter of birth with state/year dummy variables. Bound, Jaeger, and Baker (1995) show that randomly generated instrumental variables, designed to match the AK data set, give two-stage least squares results that look similar to the results based on the actual instrumental variables. Using a hierarchical model with the AK data, we find a posterior distribution for the parameter of interest that is tight and plausible. Using data with randomly generated instruments, the posterior distribution is diffuse. Most of the information in the AK data can in fact be extracted with quarter of birth as the single instrumental variable. Using artificial data patterned on the AK data, we find that if all the information had been in the interactions between quarter of birth and state/year dummies, then the hierarchical model would still have led to precise inferences, whereas the single instrument model would have suggested that there was no information in the data. We conclude that hierarchical modeling is a conceptually straightforward way of efficiently combining many weak instrumental variables
 
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Alternative Names
Harvard Institute for Economic Research

Harvard Institute of Economic Research

Harvard University Cambridge, Mass Institute of Economic Research

Harvard University Harvard Institute of Economic Research

Harvard University Institute of Economic Research

HIER

Institute of Economic Research

Institute of Economic Research Cambridge, Mass

Languages
English (73)