Journal of Economic Surveys
Công bố khoa học tiêu biểu
Sắp xếp:
THE EMERGENCE OF MIGRATION THEORY AND A SUGGESTED NEW DIRECTION Abstract. The literature on internal labour migration is surveyed using a fourfold taxonomic scheme. The potential migrant, as presented in the existing literature, can be viewed as a supplier of labour, an investor in human capital and a consumer of regional amenities such as public goods. The paper develops a fourth approach which treats the household, rather than the individual, as the migrating unit and which views the potential migrant as a producer of home produced commodities. The continuities as well as the contrasts between the four approaches are discussed in the paper.
Journal of Economic Surveys - Tập 3 Số 4 - Trang 277-304 - 1989
ECONOMETRICS MEETS SENTIMENT: AN OVERVIEW OF METHODOLOGY AND APPLICATIONS Abstract The advent of massive amounts of textual, audio, and visual data has spurred the development of econometric methodology to transform qualitative sentiment data into quantitative sentiment variables, and to use those variables in an econometric analysis of the relationships between sentiment and other variables. We survey this emerging research field and refer to it assentometrics , which is a portmanteau of sentiment and econometrics. We provide a synthesis of the relevant methodological approaches, illustrate with empirical results, and discuss useful software.
Journal of Economic Surveys - Tập 34 Số 3 - Trang 512-547 - 2020
Motivation Crowding Theory The Motivation Crowding Effect suggests that external intervention via monetary incentives or punishments may undermine, and under different identifiable conditions strengthen, intrinsic motivation. As of today, the theoretical possibility of motivation crowding has been the main subject of discussion among economists. This study demonstrates that the effect is also of empirical relevance . There exist a large number of studies, offering empirical evidence in support of the existence of crowding–out and crowding–in. The study is based on circumstantial evidence, laboratory studies by both psychologists and economists, as well as field research by econometric studies. The pieces of evidence presented refer to a wide variety of areas of the economy and society and have been collected for many different countries and periods of time. Crowding effects thus are an empirically relevant phenomenon, which can, in specific cases, even dominate the traditional relative price effect.
Journal of Economic Surveys - Tập 15 Số 5 - Trang 589-611 - 2001
Multinational Corporations and Spillovers This paper examines spillover effects of the activities of multinational firms. Such effects are most likely to be found in host countries, where the operations of foreign multinationals may influence local firms in the MNCs own industry as well as firms in other industries. However, there is no comprehensive evidence on the exact nature or magnitude of these effects, although it is suggested that host country spillovers vary systematically between countries and industries. In particular, the positive effects of foreign investment are likely to increase with the level of local capability and competition. The spillovers to the home countries of MNCs are often more difficult to identify, for various reasons. Earlier studies suggest that the effects are generally positive, but the increasing international division of labor within multinationals complicates the analysis. The impact on the home country is likely to depend on what activities these firms concentrate at home.
Journal of Economic Surveys - Tập 12 Số 3 - Trang 247-277 - 1998
Central Bank Independence: An Update of Theory and Evidence This paper reviews recent research on central bank independence (CBI). After we have distinguished between independence and conservativeness, research in which the inflationary bias is endogenised is reviewed. Finally, the various challenges that have been raised against previous empirical findings on CBI are discussed. We conclude that the negative relationship between CBI and inflation is quite robust.
Journal of Economic Surveys - Tập 15 Số 1 - Trang 3-40 - 2001
A REVIEW OF BUBBLES AND CRASHES IN EXPERIMENTAL ASSET MARKETS Abstract This paper discusses the literature on bubbles and crashes in the most commonly used experimental asset market design, introduced by Smith et al . It documents the main findings based on the results from 41 published papers, 3 book chapters and 20 working papers.
Journal of Economic Surveys - Tập 27 Số 3 - Trang 570-588 - 2013
EXPERIMENTAL RESEARCH ON ASSET PRICING Abstract This paper discusses some of the literature on asset market behavior. We do not intend this paper to be an exhaustive survey, but rather a review of some of the more influential results and to illustrate to the nonspecialist reader the diversity of topics that have been pursued.
Journal of Economic Surveys - Tập 27 Số 3 - Trang 554-569 - 2013
PREDICTION MARKETS IN THE LABORATORY Abstract Prediction markets are becoming an ever more popular method for aggregating disparate information. Companies use prediction markets to forecast sales, release dates, and other internal activities. Recently, several well‐known economists have argued that government ought to eliminate impediments to unleashing the power of prediction markets broadly. This survey paper looks at the laboratory experiments which provide part of the scientific justification for using prediction markets. These systems work because people who have private knowledge can use this “insider information” in the market, but doing so causes the price to reflect these data. Starting with early experiments that show markets can, under certain circumstances, aggregate information, we discuss the robustness of prediction markets to various design features. We also discuss places where performance does not match rhetoric and briefly look at experimental comparisons of alternative information aggregating institutions. Another issue consistently raised regarding the implementation of prediction markets is the degree to which traders can manipulate prices and thus the information gleaned. By following a series of experiments on manipulation, we present the circumstances that are and are not sufficient for manipulation attempts to be successful. Finally, we offer suggestions on where we believe future experiments are needed in this area.
Journal of Economic Surveys - Tập 27 Số 3 - Trang 589-603 - 2013
THE ECONOMICS OF COUNTERTERRORISM: A SURVEY Abstract We provide a review of theoretical and empirical contributions on the economic analysis of terrorism and counterterrorism. We argue that simple rational‐choice models of terrorist behavior – in the form of cost‐benefit models – already provide a well‐founded theoretical framework for the study of terrorism and counterterrorism. We also hint at their limitations which relate to the failure of accounting for the dynamics between terrorism and counterterrorism that may produce unintended second‐order effects as well as for the costs associated with counterterrorism and its international dimension. We reevaluate previously proposed counterterrorism strategies accordingly. Finally, in the light of our findings, we discuss interesting areas of future research.
Journal of Economic Surveys - Tập 29 Số 1 - Trang 131-157 - 2015
WHAT DO WE KNOW ABOUT THE PROFITABILITY OF TECHNICAL ANALYSIS? Abstract The purpose of this paper is to review the evidence on the profitability of technical analysis. The empirical literature is categorized into two groups, ‘early’ and ‘modern’ studies, according to the characteristics of testing procedures. Early studies indicate that technical trading strategies are profitable in foreign exchange markets and futures markets, but not in stock markets. Modern studies indicate that technical trading strategies consistently generate economic profits in a variety of speculative markets at least until the early 1990s. Among a total of 95 modern studies, 56 studies find positive results regarding technical trading strategies, 20 studies obtain negative results, and 19 studies indicate mixed results. Despite the positive evidence on the profitability of technical trading strategies, most empirical studies are subject to various problems in their testing procedures, e.g. data snooping, ex post selection of trading rules or search technologies, and difficulties in estimation of risk and transaction costs. Future research must address these deficiencies in testing in order to provide conclusive evidence on the profitability of technical trading strategies.
Journal of Economic Surveys - Tập 21 Số 4 - Trang 786-826 - 2007
Tổng số: 14
- 1
- 2