WorldCat Identities

Massachusetts Institute of Technology Department of Economics

Overview
Works: 1,372 works in 2,304 publications in 1 language and 3,212 library holdings
Genres: Periodicals 
Classifications: HB1, 330
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Most widely held works about Massachusetts Institute of Technology
 
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Most widely held works by Massachusetts Institute of Technology
Mediterranean trade in biblical times by Peter Temin( Book )

2 editions published in 2003 in English and held by 21 WorldCat member libraries worldwide

This paper demonstrates the presence of Heckscher-Ohlin type trade in bulk commodities in the early Iron Age. I study the trade going across the Mediterranean Sea, where costs of transport were low. I combine evidence from under-water archaeology for the existence of this trade with literary evidence about its organization. I argue that international trade was effected by market transactions well before the invention of coinage. The forces for trade analyzed by Heckscher were strong almost three millennia before he wrote, and they produced extensive trade in Biblical times. Keywords: International Trade, Heckscher-Ohlin, Biblical Era, Ancient History, Shipwrecks. JEL Classification: N75, F14, P52
Contribution from the Department of Economics by Massachusetts Institute of Technology( )

in English and held by 12 WorldCat member libraries worldwide

Characterizing properties of stochastic objective functions by Susan Athey( Book )

8 editions published between 1995 and 1998 in English and held by 10 WorldCat member libraries worldwide

This paper studies properties of stochastic objective functions, that is, objective functions which can be written as the expected value of a payoff function
Emerging market crises : an asset markets perspective by Ricardo J Caballero( Book )

6 editions published between 1998 and 1999 in English and held by 10 WorldCat member libraries worldwide

Although internal policy mismanagements can be cited in most recent emerging market crises, they seldom account fully for the severity of these crises. The reluctance of international investors to provide the resources that would limit the extent of the reversal almost invariably plays a key role in bringing a previously (over?)-heated economy to a costly halt. Domestic assets experience dramatic depreciation and otherwise solvent investment projects and production, especially in the nontradeables sector, find no financiers and are wastefully shutdown. Ultimately, the reason for this breakdown of a country's access to international capital markets must lie in the inadequacy (real or perceived) of its international collateral. We build a framework where this insufficiency and its consequences stem from microeconomic contractual problems. Fire sales of domestic assets naturally arise as a result of desperate competition for scarce international collateral. This begs the question of why the private sector does not take steps to ensure sufficient international collateral when crises are likely. The answer lies in the presence of a pecuniary externality. We show that contractual problems also lead to a problem of insufficient domestic collateral, which restricts the transfer of surplus arising from the use of international collateral between the users and providers of this international collateral. The interaction between domestic and international collateral also sheds light on when pre-crisis capital flows ought to be regulated and on whether there is scope for currency support measures during the crisis or not
Working papers by Nationalekonomiska Institutionen( )

in English and held by 9 WorldCat member libraries worldwide

Formal and real authority in organizations by Philippe Aghion( Book )

3 editions published between 1994 and 1995 in English and held by 9 WorldCat member libraries worldwide

Nonparametric estimation of triangular simultaneous equations models by Whitney K Newey( Book )

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

Improper churn : social costs and macroeconomic consequences by Ricardo J Caballero( Book )

3 editions published in 1998 in English and held by 8 WorldCat member libraries worldwide

This paper assembles elements that are essential in forming an integral picture of the way a churning' economy functions and of the disruptions caused by transactional difficulties in labor and financial markets. We couch our analysis in a stochastic equilibrium model anchored with US evidence on gross factor flows and on rents in worker and firm income. We develop a social accounting framework to measure the costs of transactional impediments. We calculate the average social loss associated with structural unemployment and low productivity -- due to technological sclerosis' and a scrambling' of productivity rankings in entry and exit decisions. We also estimate the loss from a recession. An additional forty percent to the traditional unemployment cost is due to reduced productivity and is determined by the recession's cumulative effect on the economy's churn rate. Although a recessionary shock increases the economy's turbulence' at impact, semi-structural VAR evidence from US manufacturing indicates that, cumulatively, it results in a chill' -- which is costly in an economy that suffers from sclerosis
Social security investment in equities I : linear case by Peter Diamond( Book )

2 editions published in 1999 in English and held by 8 WorldCat member libraries worldwide

Social Security trust fund portfolio diversification to include some equities reduces the equity premium by raising the safe real interest rate. This requires changes in taxes. Under the hypothesis of constant marginal returns to risky investments, trust fund diversification lowers the price of land, increases aggregate investment, and raises the sum of household utilities, suitably weighted. It makes workers who do not own equities on their own better off, though it may hurt some others since changed taxes and asset values redistribute wealth across contemporaneous households and across generations. In our companion paper we reconsider the effects of diversification when there are decreasing marginal returns to safe and risky investment. Our analysis uses a two-period overlapping generations general equilibrium model with two types of agents, savers and workers who do not save. The latter represent approximately half of all workers who hold no equities whatsoever
Necessary and sufficient conditions for the perfect finite horizon folk theorem by Lones A Smith( Book )

4 editions published between 1993 and 1994 in English and held by 8 WorldCat member libraries worldwide

Patterns of congressional voting by Keith T Poole( Book )

6 editions published between 1989 and 1990 in English and held by 8 WorldCat member libraries worldwide

Competition and efficiency in congested markets by Daron Acemoglu( Book )

6 editions published between 2005 and 2006 in English and held by 8 WorldCat member libraries worldwide

We study the efficiency of oligopoly equilibria in congested markets. The motivating examples are the allocation of network flows in a communication network or of traffic in a transportation network. We show that increasing competition among oligopolists can reduce efficiency, measured as the difference between users' willingness to pay and delay costs. We characterize a tight bound of 5/6 on efficiency in pure strategy equilibria when there is zero latency at zero flow and a tight bound of 2 root2-2 with positive latency at zero flow. These bounds are tight even when the numbers of routes and oligopolists are arbitrarily large. Keywords: competition, congestion, externalities, networks, oligopoly. JEL Classifications: D43, D45, D62
Misclassification of a dependent variable in a discrete response setting by Jerry A Hausman( Book )

2 editions published in 1994 in English and held by 7 WorldCat member libraries worldwide

Optimal income taxation : an example with a U-shaped pattern of optimal marginal tax rates by Peter A Diamond( Book )

2 editions published in 1994 in English and held by 7 WorldCat member libraries worldwide

The labour market and corporate structure by Daron Acemoglu( Book )

2 editions published in 1997 in English and held by 7 WorldCat member libraries worldwide

Executive compensation and incentives : the impact of takeover legislation by Marianne Bertrand( Book )

3 editions published in 1998 in English and held by 7 WorldCat member libraries worldwide

We investigate the impact of changes in states' anti-takeover legislation on executive compensation. We find both pay for performance sensitivities and mean pay increase for the firms affected by the legislation (relative to a control group). These findings are partially consistent with an optimal contracting model of CEO pay as well as with a skimming model in which reduced takeover fears allow CEO's to skim more. We compute lower bounds on the relative risk aversion coefficients implied by our findings. These lower bounds are relatively high, indicating that the increase in mean pay may have been more than needed to maintain CEO's individual rationality constraints. Under both models however, our evidence shows that the increased pay for performance offsets some of the incentive reduction caused by lower takeover threats
Comparing apples to oranges : productivity convergence and measurement across industries and countries by Andrew B Bernard( Book )

3 editions published between 1993 and 1994 in English and held by 7 WorldCat member libraries worldwide

The Economic impacts of climate change : evidence from agricultural profits and random fluctuations in weather by Olivier Deschenes( Book )

5 editions published between 2004 and 2006 in English and held by 7 WorldCat member libraries worldwide

This paper measures the economic impact of climate change on US agricultural land by estimating the effect of the presumably random year-to-year variation in temperature and precipitation on agricultural profits. Using long-run climate change predictions from the Hadley 2 Model, the preferred estimates indicate that climate change will lead to a $1.3 billion (2002$) or 4.0% increase in annual profits. The 95% confidence interval ranges from -$0.5 billion to $3.1 billion and the impact is robust to a wide variety of specification checks, so large negative or positive effects are unlikely. There is considerable heterogeneity in the effect across the country with California's predicted impact equal to -$0.75 billion (or nearly 15% of state agricultural profits). Further, the analysis indicates that the predicted increases in temperature and precipitation will have virtually no effect on yields among the most important crops, which suggest that the small effect on profits are not due to short-run price increases
Education, income distribution, and growth : the local connection by Roland Bénabou( Book )

2 editions published in 1994 in English and held by 7 WorldCat member libraries worldwide

This paper develops a simple model of human capital accumulation and community formation by heterogeneous families, which provides an integrated framework for analyzing the local determinants of inequality and growth. Five main conclusions emerge. First, minor differences in education technologies, preferences, or wealth can lead to a high degree of stratification. Imperfect capital markets are not necessary, but will compound these other sources. Second, stratification makes inequality in education and income more persistent across generations. Whether or not the same is true of inequality in total wealth depends on the ability of the rich to appropriate the rents created by their secession. Third, the polarization of urban areas resulting from individual residential decisions can be quite inefficient, both from the point of view of aggregate growth and in the Pareto sense, especially in the long run. Fourth, when state-wide equalization of school expenditures is insufficient to reduce stratification, it may improve educational achievement in poor communities much less than it lowers it in richer communities; thus average academic performance and income growth both fall. Yet it may still be possible for education policy to improve both equity and efficiency. Fifth, because of the cumulative nature of the stratification process, it is likely to be much harder to reverse once it has run its course than to arrest it at an early stage
A General equilibrium analysis of the effects of carbon emission restrictions on economic growth in a developing country( Book )

4 editions published in 1990 in English and held by 7 WorldCat member libraries worldwide

A general equilibrium approach, in the form of a multisector, intertemporal programming model, is used to analyze the effects on the growth of the Egyptian economy of carbon emissions constraints that differ across sectors and over time. The model embodies significant substitution possibilities among factors, including fuels. It is found that any substantial reduction in the rate of emissions has correspondingly important impacts on economic growth. The abatement of carbon emissions would, therefore, create major economic problems. Economy-wide constraints are, however, less restrictive than the same level of constraints imposed on particular sectors
 
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Associated Subjects
Agriculture Agriculture--Economic aspects Australia Business cycles--Econometric models Canada Capital market--Econometric models Chief executive officers--Salaries, etc.--Econometric models Climatic changes--Economic aspects Climatic changes--Government policy Competition--Econometric models Consolidation and merger of corporations--Law and legislation--Economic aspects--U.S. states--Econometric models Credit--Econometric models Delegation of authority--Mathematical models Economic development--Effect of education on--Mathematical models Economic development--Social aspects--Mathematical models Economic history Economic policy Economics Economics--Methodology Economics--Research Economists Education--Finance--Econometric models Error analysis (Mathematics) Factors of production--Econometric models Finance, Public Financial crises--Econometric models Greenhouse gas mitigation--Government policy Human capital--Econometric models Income distribution--Econometric models Industrial management Industrial management--Mathematical models Industrial organization--Mathematical models Industrial productivity--Econometric models International economic relations International finance International trade Investment of public funds Investments, Foreign--Econometric models Labor demand Labor laws and legislation Labor market--Econometric models Labor market--Mathematical models Massachusetts Institute of Technology.--Department of Economics Oligopolies Pension trusts--Investments Produce trade Social security--Finance Structural unemployment--Econometric models United States Wages
Alternative Names

controlled identityMassachusetts Institute of Technology. Department of Economics and Social Science

controlled identityMassachusetts Institute of Technology. School of Humanities and Social Science

Department of Economics

Massachusetts Institute of Technology Department of Economics

Massachusetts Institute of Technology. Dept. of Economics

Massachusetts Institute of Technology. School of Humanities and Social Science. Department of Economics

Languages
English (81)