Current Social Science Research Report--Economics #15, May 15, 2007.

CSSRR-Economics is a weekly email report produced by the Data and Information Services Center at the University of Wisconsin-Madison. It seeks to help social science researchers keep up to date with the latest developments in the field. This report will contain selected listings of new: reports, articles, bibliographies, working papers, tables of contents, conferences, data, and websites. For more information, including an archive of back issues and subscription information see:

http://www.disc.wisc.edu/reports/cssrindex.html

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CSSRR-Economics is compiled and edited by Jack Solock and Charlie Fiss.

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To CSSRR-Soc #15

To CSSRR-Health #15

CSSRR-Index

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Index to this issue:

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CENTRAL GOVERNMENT AND NGO STATISTICAL PUBLICATIONS

US

US STATES

NGO AND OTHER COUNTRIES

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OTHER REPORTS, ARTICLES, ETC.

WORKING PAPERS

TABLES OF CONTENTS

CONFERENCES

EMPLOYMENT OPPORTUNITIES

LEGISLATION INFORMATION UPDATES

DATA

BIBLIOGRAPHY UPDATES

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CENTRAL GOVERNMENT STATISTICAL AND NGO PUBLICATIONS

US

1. Bureau of Labor Statistics Report: "Hourly Compensation Costs for Production Workers in Manufacturing, 33 Countries or Areas, 22 Manufacturing Industries, 1992-2005" (Updated April 30, 2007).

http://www.bls.gov/fls/flshcindnaics.htm

2. Congressional Research Service Reports:

A. "Gasoline Prices: Issues for the 110th Congress," by Carl E. Behrens and Carol Glover (RL 33521, April 2007 Update .pdf format, 11p.).

http://ncseonline.org/NLE/CRS/abstract.cfm?NLEid=1649

B. "Greenhouse Gas Emission Drivers: Population, Economic Development and Growth, and Energy Use," by John Blodgett and Larry Parker (RL33970, April 2007, .pdf format, 33p.).

http://opencrs.cdt.org/document/RL33970

3. US Government Economic Releases from the National Bureau of Economic Research: Links to releases for , 2007 are available at the site.

http://www.nber.org/releases/

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US States:

Alabama:

University of Alabama Culverhouse College of Commerce, Centers for Business and Economic Research Periodical: Alabama Business (Vol. 76, No. 2, 2nd Quarter 2007, .pdf format, 11p.).

http://cber.cba.ua.edu/pdf/ab2007q2.pdf

Hawai'i:

Department of Business, Economic Development, and Tourism Periodical: Monthly Economic Indicators: March 2007 (May 2007, .pdf format, 5p., with data in Microsoft Excel format).

http://www.hawaii.gov/dbedt/info/economic/data_reports/mei

Iowa:

State Data Center Updates: The SDC issued the following updates (.pdf and Microsoft Excel format) on May 11, 2007: For Iowa counties and Metropolitan, Micropolitan, and Combined Areas: "Per Capita Personal Income 1969-2005."

http://www.iowadatacenter.org/indexlinks/New

See under May 11, 2007 item.

Maryland:

State Data Center Reports:

A. "New Housing Units for Construction Reports: Annual Summary 2006" (May 2007, .pdf format, 1p.).

http://www.mdp.state.md.us/msdc/NEWHH/Summary_of_annual2006.pdf

B. "2005 Annual Jobs And Income Data for Maryland's Jurisdictions" (May 2007, .pdf and Microsoft Excel format).

http://www.mdp.state.md.us/MSDC/bea/ca05/annual.htm

C. "State Quarterly Personal Income Through The 4th Quarter of 2006" (May 2007, .pdf and Microsoft Excel format).

http://www.mdp.state.md.us/msdc/bea/sq06IV/dw_quarter.htm

New Jersey:

Department of Labor & Workforce Development Report: "2006 NJ Annual Average Labor Force Estimates by Municipality (May 2007, Microsoft Excel format).

http://www.wnjpin.net/OneStopCareerCenter/LaborMarketInformation/lmi11/mun06.xls

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NGOs and Other Countries

European Commission:

1. Eurostat Periodical: Euro-Indicators Newsletter - March 2007 (May 2007, .pdf format, 22p.).

http://epp.eurostat.ec.europa.eu/portal/page?_pageid=1073,46587259&_dad=portal&_schema=PORTAL&p_product_code=LN-032007

2. European Foundation for the Improvement of Living and Working Conditions Report: "Social capital and job creation in rural Europe," by Irene Mandl, Thomas Oberholzner, and Céline Dörflinger (2007, .pdf format, 80p.). Links to an abstract and full text are available at:

http://www.eurofound.europa.eu/publications/htmlfiles/ef0718.htm

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International Monetary Fund Country Reports The latest Country Reports span the time period from May 8, 2007--May 15, 2007 (No. 07/153-07/173).

http://www.imf.org/external/pubs/cat/scr1_sp.cfm?s_year=2007&e_year=2007&brtype=default

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Canada:

Statistics Canada/Statistique Canada Report: "Income inequality and redistribution in Canada: 1976 to 2004," by Andrew Heisz (Research Paper No. 298, May 2007, .pdf format, 58p.).

http://www.statcan.ca/english/research/11F0019MIE/11F0019MIE2007298.htm

Follow link to PDF in the left hand margin.

Related article: "Study: Income inequality and redistribution" (The Daily, May 11, 2007.

http://www.statcan.ca/Daily/English/070511/d070511b.htm

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Iceland:

Statistics Iceland News Release: "Labour cost survey 2004" (57/2007, May 9, 2007). The news release links to a SI report: "Labour cost survey 2004" (May 2007, .pdf format, 12p.). The report is in Icelandic, with an English summary, and table heads in English and Icelandic).

http://www.statice.is/?PageID=444&NewsID=2696

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India:

Ministry of Statistics and Programme Implementation Reports: Note: MSPI requires free registration before providing reports.

A. "Informal Sector and Conditions of Employment in India (Part-I)" (National Sample Survey, 61st Round, June 2004-June 2005, April 2007, Series 121, Report 519 Vol. 1, .pdf format, 428p.).

B. "Informal Sector and Conditions of Employment in India (Part-II)" (National Sample Survey, 61st Round, June 2004-June 2005, April 2007, Series 122, Report 519 Vol. 2, .pdf format, 427p.).

For both reports:

http://mospi.nic.in/mospi_nsso_rept_pubn.htm

and scroll to series/ report numbers or titles near the bottom of the page.

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Malta:

National Statistics Office News Release: "Survey on Income and Living Conditions 2005: Salient Indicators" (May 2007, .pdf format, 5p.).

http://www.nso.gov.mt/statdoc/document_view.aspx?id=1936&backUrl=news_by_date.aspx%3fretainCriteria%3dtrue

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Norway:

Statistics Norway News Releases:

A. "Agricultural yields and production, 2006. Preliminary figures: Decline in production of meadows for mowing" (May 9, 2007). The news release links to three relevant tables.

http://www.ssb.no/english/subjects/10/04/10/jordbruksavling_en/

B. "Work stoppages, 2006: 147,000 working days lost (May 9, 2007). The news release links to two relevant tables.

http://www.ssb.no/english/subjects/06/04/arbkonfl_en/

C. "Central government revenue and expenditure, 2006: Increase in central government surplus" (May 11, 2007).

http://www.ssb.no/english/subjects/12/01/10/statsregn_en/

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Oman:

Ministry of National Economy Periodical: Monthly Statistical Bulletin: March 2007 (April 2007, HTML and .pdf format).

http://www.moneoman.gov.om/publication_detail.asp?pid=310

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UK:

1. National Statistics Office Periodical: Financial Statistics (No. 541, May 2007, .pdf format, 291p.).

http://www.statistics.gov.uk/StatBase/Product.asp?vlnk=376&Pos=1&ColRank=1&Rank=422

2. House of Commons Library Reports:

A. "A political introduction to India," by Tom Harrison, Sam Jones, Jon Lumen, Ben Smith, Claire Taylor, and Tim Young (Research Paper 07/41, May 2007, .pdf format, 105p.).

http://www.parliament.uk/commons/lib/research/rp2007/rp07-041.pdf

B. "An economic introduction to India," by Graham Allen and Joanna Jessee (Research Paper 07/40, May 2007, .pdf format, 60p.).

http://www.parliament.uk/commons/lib/research/rp2007/rp07-040.pdf

3. HM Treasury Report: "Public Expenditure Statistical Analyses 2007," (April 2007, .pdf, Excel, and .csv format, 224p.).

http://www.hm-treasury.gov.uk/economic_data_and_tools/finance_spending_statistics/pes_publications/pespub_pesa07.cfm

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OTHER REPORTS, ARTICLES, ETC.

National Opinion Research Center (University of Chicago, Illinois) Report: "Job Satisfaction in the United States," by Tom W. Smith (April 2007, .pdf format, 8p.). The report is linked to from a NORC news release: "Looking for satisfaction and happiness in a career? Start by choosing a job that helps others" (Apr. 17, 2007).

http://www-news.uchicago.edu/releases/07/070417.jobs.shtml

Click on "here" on the right side of the page for link to full text.

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Brookings Institution Report: "Borrowing to Get Ahead, and Behind: The Credit Boom and Bust in Lower-Income Markets," by Matt Fellowes and Mia Mabanta (Metropolitan Policy Program, May 2007, .pdf format, 27p.).

http://www.brookings.edu/views/articles/fellowes/20070508.htm

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Urban Institute Article: "How Far Would 50 Billion Dollars in Taxes on the Rich Go?" by C. Eugene Steuerle (The Government We Deserve May 2007).

http://www.urban.org/publications/901074.html

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American Enterprise Institute: "Understanding the Subprime Mortgage Lending Crisis." May 2007 Newsletter (May 2007, HTML Format).

http://www.aei.org/publications/filter.all,pubID.26067/pub_detail.asp

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Common Cause Report: "Why so many home foreclosures? 210 dollars million spent on Congress by mortgage lending industry may be part of answer: (Ask Yourself Why series, May 2007, .pdf format, 11p.).

http://www.commoncause.org/site/apps/nl/content2.asp?c=dkLNK1MQIwG&b=194883&ct=3845711

More information on CC:

http://www.commoncause.org/site/pp.asp?c=dkLNK1MQIwG&b=189955

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WORKING PAPERS:

Federal Reserve Banks:

Federal Reserve Bank of Minneapolis (Minnesota): "Are Shocks to the Terms of Trade Shocks to Productivity?" by Timothy J. Kehoe and Kim J. Ruh (Staff Report 391, May 2007, .pdf and PostScript format, 27p.). Links to the abstract and full-text can be found at:

http://www.minneapolisfed.org/research/common/pub_detail.cfm?pb_autonum_id=1091

Federal Reserve Bank of St. Louis (Missouri):

A. "Multivariate Contemporaneous Threshold Autoregressive Models," by Michael J. Dueker, Zacharias Psaradakis, Martin Sola, and Fabio Spagnolo (WP 2007-19A, May 2007, .pdf format, 30p.). Links to an abstract and full text are available at:

http://research.stlouisfed.org/wp/more/2007-019/

B. "Monetary Policy and Stock Market Booms and Busts in the 20th Century," by Michael D. Bordo, Michael J. Dueker, and David C. Wheelock (WP 2007-20A, May 2007, .pdf format, 57p.). Links to an abstract and full text are available at:

http://research.stlouisfed.org/wp/more/2007-020/

Federal Reserve Bank of San Francisco (California):

A. "Rational and Near-Rational Bubbles Without Drift," by Kevin J. Lansing (WP 2007-10, April 2007, .pdf format, 30p.).

This paper derives a general class of intrinsic rational bubble solutions in a standard Lucas-type asset pricing model. I show that the rational bubble component of the price-dividend ratio can evolve as a geometric random walk without drift. The volatility of bubble innovations depends exclusively on fundamentals. Starting from an arbitrarily small positive value, the rational bubble expands and contracts over time in an irregular, wholly endogenous fashion, always returning to the vicinity of the fundamental solution. I also examine a near-rational solution in which the representative agent does not construct separate forecasts for the fundamental and bubble components of the asset price. Rather, the agent constructs only a single forecast for the total asset price that is based on a geometric random walk without drift. The agents forecast rule is parameterized to match the moments of observable data. In equilibrium, the actual law of motion for the price-dividend ratio is stationary, highly persistent, and nonlinear. The agent's forecast errors exhibit near-zero autocorrelation at all lags, making it difficult for the agent to detect a misspeciffication of the forecast rule. Unlike a rational bubble, the near-rational solution allows the asset price to occasionally dip below its fundamental value. Under mild risk aversion, the near-rational solution generates pronounced low-frequency swings in the price-dividend ratio, positive skewness, excess kurtosis, and time varying volatility--all of which are present in long-run U.S. stock market data. An independent contribution of the paper is to demonstrate an approximate analytical solution for the fundamental asset price that employs a nonlinear change of variables.

http://www.frbsf.org/publications/economics/papers/2007/wp07-10bk.pdf

B. "Welfare-Maximizing Monetary Policy under Parameter Uncertainty," by Rochelle M. Edge, Thomas Laubach, and John C. Williams (WP 2007-11, April 2007, .pdf format, 40p.).

Abstract:

This paper examines welfare-maximizing monetary policy in an estimated micro-founded general equilibrium model of the U.S. economy where the policymaker faces uncertainty about model parameters. Uncertainty about parameters describing preferences and technology implies not only uncertainty about the dynamics of the economy. It also implies uncertainty about the model's utility-based welfare criterion and about the eonomy's natural rate measures of interest and output. We analyze the characteristics and performance of alternative monetary policy rules given the estimated uncertainty regarding parameter estimates. We find that the natural rates of interest and output are imprecisely estimated. We then show that, relative to the case of known parameters, optimal policy under parameter uncertainty responds less to natural-rate terms and more to other variables, such as price and wage inflation and measures of tightness or slack that do not depend on natural rates.

http://www.frbsf.org/publications/economics/papers/2007/wp07-11bk.pdf

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Bureau of Labor Statistics: Workplace Organization and Innovation," by Cindy Zoghi, Robert D. Mohr, and Peter B. Meyer (Working Paper No. 405, May 2007, .pdf format, 30p.). Links to an abstract and full text can be found at:

http://www.bls.gov/ore/abstract/ec/ec070040.htm

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UK Department for Work and Pensions: "Non-participation in the Employment Retention and Advancement Study: A quantitative descriptive analysis," by Alissa Goodman and Barbara Sianesi (WP 39, May 2007, .pdf format, 141p.).

Abstract:

The Employment Retention and Advancement (ERA) study can provide unbiased estimates of the impact of ERA only for that subset of the eligibles who were offered the possibility of taking part in the experiment and who agreed to do so. This report explores, in detail, how representative of the full eligible population the ERA study participants are by first documenting the incidence of non-participation and then testing for the presence of any systematic differences between non-participants and participants in terms of observed characteristics and subsequent outcomes.

http://www.dwp.gov.uk/asd/asd5/WP39.pdf

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University of Pennsylvania Law School: "The Economic Impact of International Labor Migration: Recent Estimates and Policy Implications," by Howard F. Chang (Paper 132, May 2007, .pdf format, 17p.). Links to an abstract and full text are available at:

http://lsr.nellco.org/upenn/wps/papers/132/

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Levy Economic Institute of Bard College [Annandale-on-Hudson, NY]: "Employment Guarantee Programs: A Survey of Theories and Policy Experiences," by Fadhel Kaboub (Working Paper No. 498, May 2007, .pdf format, 23p.). Links to an abstract and full text can be found at:

http://www.levy.org/default.asp?view=publications_view&pubID=11272831b22

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National Bureau of Economic Research: NBER has released the following working papers for the week of Apr. 30-May 7, 2007:

http://www.nber.org/new.html#latest

New papers are: 13073-13099.

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International Monetary Fund: IMF has added nine working papers in the last week. The papers are Nos 07/111--07/119.

http://www.imf.org/external/pubs/cat/wp1_sp.cfm?s_year=2007&e_year=2007&brtype=default

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Center for Economic Studies/Ifo Institute for Economic Research (CESifo) [Munich, Bavaria, Germany]: CESifo has recently released several new working papers:

http://www.cesifo.de/wp

and "Browse Working Paper List" for 2007.

The new papers are numbered 1988-1991

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New Economic Papers (NEP)-ALL. The latest list of New Economic Papers (May 4, 2007) is available at:

http://ideas.repec.org/n/nep-all/

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AgEcon Search: This week's new working papers from AgEcon Search at the University of Minnesota are available at:

http://agecon.lib.umn.edu/cgi-bin/new.pl

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JOURNAL TABLES OF CONTENTS (check your library for availability):

American Economic Review (Vol. 97, No. 2, May 2007). Note: Full electronic text of this journal is available in the ProQuest Research Library and the EBSCO Host Academic Search Elite Database. Check your library for the availability of these databases and this issue.

http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=97&issue=2&issue_date=May%202007

Journal of Development Economics (Vol. 84, No. 1, September 2007).

http://www.sciencedirect.com/science/journal/03043878

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CONFERENCES

From Conferencealerts.com:

Max Planck Institute of Economics [Jena, Thuringia, Germany]/Indian Institute of Science [Bangalore, Karnataka, India]: "The Second Annual Max Planck - IISc International Conference on Entrepreneurship, Innovation and Economic Growth," to be held in Bangalore, Oct. 25-27, 2007). For more information see:

http://www.econ.mpg.de/files/2007/workshops/india_workshop/

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EMPLOYMENT OPPORTUNITIES

American Economics Association: "Job Openings for Economists" has been updated through May 2007).

http://www.aeaweb.org/joe/0705d/html/

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American Statistical Association: ASA has added selected employment opportunities for May 8-14, 2007.

http://jobs.amstat.org/search/results/

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LEGISLATION INFORMATION UPDATES:

US Senate Committee on Finance Hearing Testimony: "Can the Middle Class Make Ends Meet? Economic Issues for America’s Working Families," a hearing held May 10, 2007 (.pdf format).

http://finance.senate.gov/sitepages/hearing051007.htm

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US House Committee on Ways and Means, Subcommittee on Trade Hearing Testimony: "Hearing on Currency Manipulation and Its Effect on U.S. Businesses and Workers," a hearing held May 9, 2007 (HTML and .pdf format).

http://waysandmeans.house.gov/hearings.asp?formmode=detail&hearing=557

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DATA:

US Department of Agriculture, Economic Research Service:

A. "Commodity Costs and Returns." (May 2007, Microsoft Excel format).

http://www.ers.usda.gov/Data/CostsAndReturns/

Click on "See all the data files..." half way down the page for link to all data files

B. "Agricultural Outlook: Statistical Indicators" (April 2007, .pdf and .zip compressed Microsoft Excel format, 41p.).

http://www.ers.usda.gov/Publications/Agoutlook/AOTables/

C. "Foreign Agricultural Trade of the United States (FATUS)" (May 2007, Microsoft Excel format).

http://www.ers.usda.gov/Data/FATUS/

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WEBSITE UPDATES:

World Bank: "Measuring the Cost of Corruption" (2007). "Corruption - the theft of public resources for private gain -- imposes large costs on businesses and society. The first type of costs is redistributive. Redistribution costs are incurred whenever business or individuals with more financial or political power abuse their privileged position to gain contracts or services (including regulatory services) at the expense of their competitors. The second type is a welfare cost to the overall economy as a result of corruption, making everyone worse off. Research has only recently started to quantify the various ways in which corruption retards private sector development. Some of these attempts are listed here." Included are links to relevant papers, web sites, and case studies.

http://rru.worldbank.org/PapersLinks/Measuring-the-Cost-of-Corruption

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BIBLIOGRAPHY UPDATES:

Panel Study Of Income Dynamics Bibliography Update: The University of Michigan Institute for Social Research PSID has recently added the following item to its bibliography. The entire bibliography can be searched or browsed in various ways at:

http://psidonline.isr.umich.edu/Publications/Bibliography/default.aspx

Altonji, Joseph G. and Usui, Emiko. Work Hours, Wages, and Vacation Leave. Industrial & Labor Relations Review. 2007; 50(3):408.

Binswanger, Johannes. Risk Management of Pensions From the Perspective of Loss Aversion. Journal of Public Economics. 2007; 91(3-4):641-667.

Carvalho de Mattos, Enlinson. Three Essays on Fiscal Policy and Redistribution. Illinois: University of Illinois at Urbana-Champaign; 2006121 pp.DAI-A 67/11, May 2007.

Geweke, John and Keane, Michael. Smoothly Mixing Regressions. Journal of Econometrics. 2007; 138(1):252-290.

Hajivassiliou, Vassilis A. and Ioannides, Yannis M. Unemployment and Liquidity Constraints. Journal of Applied Econometrics. 2007; 22(3):479.

Hendricks, Lutz. Retirement Wealth and Lifetime Earnings. International Economic Review. 2007; 48(2):421.

Johnson, Elizabeth Inez. Capturing Context: Conceptual and Statistical Representations of Ecological Risk. Michigan: University of Michigan; 2006140 pp.DAI-B 67/10, Apr 2007.

Kumar, Anil. Labor Supply, Deadweight Loss and Tax Reform Act of 1986: A Nonparametric Evaluation Using Panel Data. Journal of Public Economics. 2007.

Tijdens, Kea and Dragstra, Anna. How Many Hours Do You Usually Work?: An Analysis of Working Hours Questions in 26 Large-Scale Surveys in Six Countries and the European Union. Time & Society. 2007; 16(119):119-130.

Turner, Tracy and Daigyo, Seo. Investment Risk and the Transition into Homeownership. Journal of Regional Science. 2007; 47(2):229-253.

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