Current Social Science Research Report--Economics #64, May 20, 2008.

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 #64

To CSSRR-Health #64

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

EMPLOYMENT OPPORTUNITIES

LEGISLATION INFORMATION UPDATES

DATA

WEBSITES OF INTEREST

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CENTRAL GOVERNMENT STATISTICAL AND NGO PUBLICATIONS

US:

1. Census Bureau: "National Survey of Fishing, Hunting, and Wildlife-Associated Recreation (FHWAR)" Updates. 2006 Reports for Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, and Tennessee were added May 14, 2008 (.pdf format).

http://www.census.gov/prod/www/abs/fishing.html

2. Bureau of Economic Analysis Periodical: Survey of Current Business (Vol. 88, No. 5, May 2008, .pdf format).

http://www.bea.gov/scb/toc/0508cont.htm

3. Office of Personnel Management Report: "Federal Student Loan Repayment Program Fiscal Year 2007: Report to the Congress," (May 2008,.pdf format, 15p.)

http://www.opm.gov/oca/pay/studentloan/html/FY2007StudentLoanRepaymentReport.pdf

4. Treasury Department Report: "Report to Congress on International Economic and Exchange Rate Policies" (May 2008, .pdf format, 39p.).

http://www.treasury.gov/offices/international-affairs/economic-exchange-rates/052008_report.pdf

5. Department of Energy News Release: "Wind Energy Could Produce 20 Percent of U.S. Electricity By 2030," (May 12, 2008).

http://www.doe.gov/news/6253.htm

6. Congressional Budget Office Reports:

A. "Nuclear Power’s Role in Generating Electricity," (May 2008).

http://www.cbo.gov/ftpdocs/91xx/doc9133/toc.htm

B. "Sources of the Growth and Decline in Individual Income Tax Revenues Since 1994," (May 2008).

http://www.cbo.gov/ftpdocs/90xx/doc9076/TaxTOC.2.1.htm

7. Government Accountability Office Correspondence: "The Nation's Long-Term Fiscal Outlook: April 2008 Update" (GAO-08-783R, May 2008, .pdf format, 12p.).

http://www.gao.gov/docsearch/abstract.php?rptno=GAO-08-783R

8. US Government Economic Releases from the National Bureau of Economic Research: Links to releases for May 13-20, 2008 are available at the site.

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

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US States:

Indiana:

Stats Indiana Updates: Stats Indiana has updated the following data (May 2008).

Labor Force Estimates (Indiana counties, metros, cities), Apr 2008 p

CES Indiana & MSAs (Employment by Industry), Apr 2008

CES & LAUS 50 States (Employment by Industry & Unemployment), Apr 2008

Occupational Estimates, May 2007 estimates

http://www.stats.indiana.edu/

See links on the right side of the page.

Iowa:

State Data Center Updates: SDC added following data (all Microsoft Excel and. pdf format) on May 16, 2008: Iowa counties: "Regional economic profiles (individual counties): 1996 to 2006"; "Regional fact sheets (BEARFACTS): 1996 to 2006" (.pdf format only); "Per capita personal income: 1969-2006". Iowa Metropolitan, Micropolitan and Combined Statistical Areas: "Per capita personal income: 1969-2006."

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

See under May 16 listing.

Kansas:

Department of Labor Report: "April 2008 Labor Report" (May 2008, .pdf, HTML, and/or Microsoft Excel format).

http://www.dol.ks.gov/lmis/newsrel/pr0805/pr0805.html

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NGOs and Other Countries:

United Nations Report: "World Economic Situation and Prospects 2008 Update as of mid-2008 (May 2008, .pdf format, 15p.). The report is linked to from a UN news release: "World could face severe economic downturn, new UN report suggests" (May 15, 2008).

http://www.un.org/apps/news/story.asp?NewsID=26686&Cr=desa&Cr1=

Click on "report" at the beginning of the third paragraph of the news release for link to full text.

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European Commission:

Eurostat Periodicals: Statistics in Focus. The latest issue (8/43, 8/47 .pdf format) is now available at the SIF website:

http://epp.eurostat.ec.europa.eu/portal/page?_pageid=0,1136118&_dad=portal&_schema=PORTAL

Data in Focus: "Telecommunications in Europe, 2006," (No. 12/2008, May 2008,.pdf format, 10p.).

http://epp.eurostat.ec.europa.eu/portal/page?_pageid=1073,46587259&_dad=portal&_schema=PORTAL&p_product_code=KS-QA-08-012

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World Bank Compendium, Report:

A. Migration and Remittances Factbook 2008 (2008, .pdf format).

http://econ.worldbank.org/WBSITE/EXTERNAL/EXTDEC/EXTDECPROSPECTS/0,,contentMDK:21352016~isCURL:Y~menuPK:3145470~pagePK:64165401~piPK:64165026~theSitePK:476883,00.html

B. "State and Trends of the Carbon Market 2008" (May 2008, .pdf format, 71p.).

http://siteresources.worldbank.org/NEWS/Resources/State&Trendsformatted06May10pm.pdf

C. "Rising Food Prices in East Asia: Challenges and Policy Options," by Milan Brahmbhatt and Luc Christiaensen (May 2008, .pdf format, 18p.).

http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/EASTASIAPACIFICEXT/0,,contentMDK:21760916~menuPK:208943~pagePK:2865106~piPK:2865128~theSitePK:226301,00.html

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International Monetary Country Reports: The latest Country Reports (.pdf format) span the time period from May 14-May 20, 2008 (No. 08/156-08/164):

http://www.imf.org/external/pubs/cat/scr1_sp.cfm?s_year=2008&e_year=2008&brtype=default

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Organisation for Economic Co-operation and Development/Economic Commission for Africa Monograph: 2008 African Economic Outlook (May 2008, ISBN Number: 9264045856, 700p.). Full text of the report is not available (it can be ordered from OECD). Country notes and a summary of major findings are available (.pdf format).

http://www.oecd.org/document/33/0,3343,en_2649_201185_39963489_1_1_1_1,00.html

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Australia:

Bureau of Statistics Report: "Labour Statistics in Brief, Australia, 2008" (May 2008, .pdf format, 12p.).

http://www.abs.gov.au/AUSSTATS/abs@.nsf/mf/6104.0?OpenDocument

Click on the "Details" tab for link to full text.

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Canada:

Statistics Canada/Statistique Canada, Various:

A. "Trade Liberalization and Productivity Dynamics: Evidence from Canada," by Alla Lileeva (Economic Analysis Report No. 051, May 2008, .pdf format, 44p.).

http://www.statcan.ca/english/research/11F0027MIE/11F0027MIE2008051.htm

B. "Geographic Market Access and the Effects of Trade on Length of Production Run, Product Diversity and Plant Scale of Canadian Manufacturing Plants, 1974 to 1999," by John R. Baldwin, W. Mark Brown and Wulong Gu (Economic Analysis Report No. 052, May 2008, .pdf format, 35p.).

http://www.statcan.ca/english/research/11F0027MIE/11F0027MIE2008052.htm

C. "Adapting to Import Competition: Effects of Low-wage Trade on Commodity Mix in Canadian Manufacturing Plants," by John R. Baldwin and Alla Lileeva (Economic Analysis Report No. 054, May 2008, .pdf format, 31p.).

http://www.statcan.ca/english/research/11F0027MIE/11F0027MIE2008054.htm

D. "Report on Energy Supply-demand in Canada 2005" (May 2008, .pdf format, 127p.).

http://www.statcan.ca/english/freepub/57-003-XIE/57-003-XIE2005000.htm

E. "The Supply and Disposition of Refined Petroleum Products in Canada" (January 2008, .pdf format, 88p.).

http://www.statcan.ca/english/freepub/45-004-XIE/45-004-XIE2008001.htm

F. "The Canadian Immigrant Labour Market in 2007," by Jason Gilmore (The Immigrant Labour Force Analysis Series, May 2008, .pdf format, 30p.).

http://www.statcan.ca/english/freepub/71-606-XIE/71-606-XIE2008003.htm

G. "Hours worked and labour productivity in the provinces and territories: 2007" (The Daily article, May 14, 2008).

http://www.statcan.ca/Daily/English/080514/d080514a.htm

H. Canadian Economic Observer (May 2008, .pdf format, 73p.).

http://www.statcan.ca/english/freepub/11-010-XIB/11-010-XIB2008005.htm

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Cyprus:

Statistical Service Compendium: "Statistical Indicators 2008" (April 2008, .pdf format, 89p.).

http://www.pio.gov.cy/mof/cystat/statistics.nsf/All/4540B71B06BA07C2C225744E002FF4FF/$file/STRUCTURAL-INDICATORS%202008.pdf?OpenElement

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Georgia:

Statistics Georgia Report: "Food Security Situation. Trends in Figures" (Statistical Bulletin No. 32, April 2008, .zip compressed .pdf format, 15p.). The report is in Georgian and English.

http://www.statistics.ge/publication.php?plang=1&pform=-456

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Hungary:

Central Statistics Office Report: "National Accounts Hungary: 2005-2006" (May 2008, .pdf format, 281p.). The report is in Hungarian and English.

http://portal.ksh.hu/pls/ksh/docs/hun/xftp/idoszaki/monsz/monsz0506.pdf

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Iceland:

Statistics Iceland Reports:

A. "Consumer price index April 2007-2008" (May 2008, .pdf format, 31p.). The report is in Icelandic. Table headings are in Icelandic and English. There is an English summary near the beginning of the report.

http://www.statice.is/Pages/452?itemid=9922fb42-969f-4731-9602-f71d33de549b

B. "Profitability in fishing and fish processing 2005-2006" (May 2008, .pdf format, 14p.). The report is in Icelandic. Table headings are in Icelandic and English. There is an English summary near the beginning of the report.

http://www.statice.is/Pages/452?itemid=25ee8277-b907-40f4-8e1f-0c52d43d3541

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Ireland:

Central Statistics Office/An Phriomh-Oifig Staidrimh Report: "Tourism and Travel 2007" (May 2008, .pdf format, 11p.).

http://www.cso.ie/releasespublications/documents/tourism_travel/current/tata.pdf

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Lithuania:

Statistics Department Report: "Foreign Direct Investment in Lithuania 2008" (May 2008, .pdf format, 47p.). The report is in Lithuanian and English.

http://www.stat.gov.lt/en/catalog/list/?cat_y=1&cat_id=2&id=1423&PHPSESSID=ec0d8f83c466f668382b1d42ddcb8abf

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Moldava:

Statistics Moldava Reports:

A. "Monthly Evolution of Consumer Price Indices in 1991-2008 (in % to December previous year)" (May 2008, .pdf format 2p.).

http://www.statistica.md/statistics/dat/1165/en/IPC_fata_de_dec_aprec_1991_2008en.pdf

B. "Monthly Evolution of Consumer Price Indices in 1991-2008 (in % to previous month) (May 2008, .pdf format, 2p.).

http://www.statistica.md/statistics/dat/1164/en/IPC_fata_de_luna_prec_1991_2008en.pdf

C. "Monthly evolution of consumer price indices in 1994-2008 (December 1993 = 100)" (May 2008, .pdf format, 2p.).

http://www.statistica.md/statistics/dat/1163/en/IPC_1994_2008en.pdf

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Netherlands:

Statistics Netherlands Web Magazine Article: "Solar electricity not very popular in the Netherlands," by Marco Wilmer (May 15, 2008).

http://www.cbs.nl/en-GB/menu/themas/industrie-energie/publicaties/artikelen/archief/2008/2008-2466-wm.htm

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Norway:

Statistics Norway Report, News Releases:

A. "Immigrant participation in the Norwegian Labour Force Survey 2006-2007," by Ole Villund (May 2008, .pdf format, 36p.).

http://www.ssb.no/english/subjects/06/90/doc_200807_en/doc_200807_en.pdf

B. "Water transport, structural business statistics, 2006" (May 14, 2008). The news release links to six topical tables.

http://www.ssb.no/english/subjects/10/12/40/stsjoinne_en/

C. "Air transport, structural business statistics, 2006" (May 14, 2008). The news release links to four topical tables.

http://www.ssb.no/english/subjects/10/12/50/stluft_en/

D. "Land transport, structural business statistics, 2006" (May 14, 2008). The news release links to five topical tables.

http://www.ssb.no/english/subjects/10/12/stvei_en/

E. "Activities of travel agencies, tourist offices and tour operators, structural business statistics, 2006" (May 14, 2008). The news release links to four topical tables.

http://www.ssb.no/english/subjects/10/11/streiseby_en/

F. "Supporting and auxiliary transport activities, structural business statistics, 2006 (May 14, 2008). The news release links to five topical tables.

http://www.ssb.no/english/subjects/10/12/60/sttranstj_en/

G. "Computer and related activities, structural business statistics, 2006" (May 15, 2008). The news release links to five topical tables.

http://www.ssb.no/english/subjects/10/03/stdata_en/

H. "Hotels and restaurants, structural business statistics, 2006" (May 15, 2008). The news release links to 15 topical tables.

http://www.ssb.no/english/subjects/10/11/sthotell_en/

I. "Census of greenhouses and nurseries 2007. Final figures for 2006" (May 15, 2008). The news release links to eight topical tables.

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

J. "Cultural services. Structural business statistics, 2006" (May 15, 2008). The news release links to seven topical tables.

http://www.ssb.no/english/subjects/07/01/stkultjen_en/

K. "Accounting statistics. Tax questionnaire on accounting for non-financial limited companies, 2006" (May 16, 2008). The news release links to two topical tables.

http://www.ssb.no/english/subjects/10/regnno_en/

L. "Registered vehicles, 2007" (May 20, 2008). The news release links to nine topical tables.

http://www.ssb.no/english/subjects/10/12/20/bilreg_en/

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Oman:

Ministry of National Economy Periodical: Monthly Statistical Bulletin No. 4, 2008, April 2008, .pdf format). The periodical is in Arabic and English.

http://www.moneoman.gov.om/publication_detail.asp?pid=372

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Philippines:

National Statistics Office News Release: "Final Foreign Trade Statistics January to December 2007" (May 14, 2008).

http://www.census.gov.ph/data/pressrelease/2008/fti07tx.html

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Romania:

National Institute of Statistics Periodicals:

A. Monthly Statistical Bulletin - No.3 (May 2008, .pdf format, 199p.).

B. International Trade Statistical Bulletin - No. 2 (May 2008, .pdf format, 119p.).

C. Industry Statistical Bulletin - No.3 (May 2008, .pdf format, 135p.).

All are in Romanian and English. All are available at:

http://www.insse.ro/cms/rw/pages/index.en.do

Click on the title page icon below the title for link to full text.

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Slovenia:

Statistical Office News Release: "Annual data on production of iron, steel and ferroalloys, Slovenia, 2007," by Sasa Culjak (May 19, 2008).

http://www.stat.si/eng/novica_prikazi.aspx?id=1616

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Ukraine:

State Statistics Committee Reports:

A. "Main indicators on the use and protection of the forest, animals and reserves: 1990-2007" (May 20, 2008).

http://www.ukrstat.gov.ua/operativ/operativ2006/ns_rik/ns_e/opvzt_rik_e2005.htm

B. "Main indicators on the water resources use and protection: 1990-2007" (May 20, 2008).

http://www.ukrstat.gov.ua/operativ/operativ2006/ns_rik/ns_e/opvvr_rik_e2005.htm

C. "Main indicators on the atmospheric air protection and handling the hazard wastes: 1990-2007" (May 20, 2008).

http://www.ukrstat.gov.ua/operativ/operativ2006/ns_rik/ns_e/opap_rik_e2005.htm

D. "Main indicators on forestry activity in 2007" (May 20, 2008).

http://www.ukrstat.gov.ua/operativ/operativ2008/ns_rik/ns_e/lis2007_e.htm

E. "Main indicators on the atmospheric air protection in 2007" (May 20, 2008).

http://www.ukrstat.gov.ua/operativ/operativ2008/ns_rik/ns_e/povitra2007_e.htm

F. "Production and treatment of wastes of the I--III grades of hazard in 2007" (May 20, 2008).

http://www.ukrstat.gov.ua/operativ/operativ2008/ns_rik/ns_e/vidhodu2007_e.htm

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UK:

1. Communities and Local Government Report: "Local Government Financial Statistics England" (No. 18, 2008, .pdf format, 227p.).

http://www.communities.gov.uk/publications/localgovernment/financialstatistics182008

2. Her Majesty's Revenue and Customs Report: "Child and Working Tax Credit statistics: April 2008" (May 2008, .pdf and Microsoft Excel format, 29p.).

http://www.hmrc.gov.uk/stats/personal-tax-credits/cwtc-quarterly-stats.htm

3. National Statistics Office Report, Periodical:

A. "Employment of Foreign Workers in the United Kingdom (1997-2008)," by Gareth Clancy (May 2008, .pdf format, 21p.).

http://www.statistics.gov.uk/cci/article.asp?ID=2002

B. Economic & Labour Market Review (May 2008, .pdf format, 64p.).

http://www.statistics.gov.uk/ELMR/05_08/

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OTHER REPORTS, ARTICLES, ETC.:

Urban Institute Report, Monograph:

A. "Trends in Income Volatility and Risk, 1970-2004," by Peter Gosselin and Seth Zimmerman" (May 2008, .pdf format, 38p.).

http://www.urban.org/publications/411672.html

B. Contemporary U.S. Tax Policy, Second Edition, by C. Eugene Steuerle (344p., ISBN: 978-0-87766-738-4). For more information see:

http://www.urban.org/books/contemporarytax/

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Federal Reserve Bank of New York (New York) Periodical: Current Issues in Economics and Finance Second District Highlights (Vol. 14, No. 3, April/May 2008). The feature article of this issue is "The Price of Land in the New York Metropolitan Area," by Andrew Haughwout, James Orr, and David Bedoll (HTML and .pdf format, 7p.).

http://www.newyorkfed.org/research/current_issues/ci14-3.html

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Economic Policy Institute Economic Snapshot: "Inhospitable Job Market to Greet College Graduates," by Lawrence Mishel and Elise Gould (May 14, 2008).

http://www.epi.org/content.cfm/webfeatures_snapshots_20080514

More information about EPI:

http://www.epi.org/content.cfm/about

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Economist Article: "America's housing: Home truths" (May 8, 2008).

http://www.economist.com/opinion/displaystory.cfm?story_id=11332375

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WORKING PAPERS:

Federal Reserve Banks:

Federal Reserve Bank of New York [New York]:

A. "Dynamic Factor Models with Time-Varying Parameters: Measuring Changes in International Business Cycles," by Marco Del Negro and Christopher Otrok (Staff Report 326, May 2008, .pdf format, 44p.). Links to an abstract and full text are available at:

http://www.newyorkfed.org/research/staff_reports/sr326.html

B. "Durable Goods Inventories and the Great Moderation," by James A. Kahn (Staff Report 325, May 2008, .pdf format, 38p.). Links to an abstract and full text are available at:

http://www.newyorkfed.org/research/staff_reports/sr325.html

Federal Reserve Bank of Philadelphia [Pennsylvania]: "Revisions to PCE Inflation Measures: Implications for Monetary Policy," by Dean Croushore (Working Paper No 08-8, May 2008, .pdf format, 43p.).

Abstract:

This paper examines the characteristics of the revisions to the inflation rate as measured by the personal consumption expenditures price index both including and excluding food and energy prices. These data series play a major role in the Federal Reserve’s analysis of inflation.

The author examines the magnitude and patterns of revisions to both PCE inflation rates. The first question he poses is: What do data revisions look like? The author runs a variety of tests to see if the data revisions have desirable or exploitable properties. The second question he poses is related to the first: Can we forecast data revisions in real time? The answer is that it is possible to forecast revisions from the initial release to August of the following year. Generally, the initial release of inflation is too low and is likely to be revised up. Policymakers should account for this predictability in setting monetary policy.

http://www.philadelphiafed.org/files/wps/2008/wp08-8.pdf

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National Bureau of Economic Research: NBER has released the following working papers for the week of May 11-17, 2008:

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

New papers are: 13988-14009

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US Census Bureau Center for Economic Studies. Note: links to abstracts and full text for all can be found at the site listed below.

A. "Horizontal Diversification and Vertical Contracting: Firm Scope and Asset Ownership in Taxi Fleets," by Evan Rawley and Timothy Simcoe (WP 08-10, May 2008, .pdf format, 37p.).

B. "Analysis of Young Neighborhood Firms Serving Urban Minority Clients," by Timothy Bates and Alicia Robb (WP 08-11, May 2008, .pdf format, 23p.).

C. "On the Lifecycle Dynamics of Venture-Capital- and Non-Venture-Capital-Financed Firms," by Manju Puri and Rebecca Zarutskie (WP 08-13, May 2008, .pdf format, 51p.).

http://www.ces.census.gov/index.php/ces/cespapers

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US Bureau of Labor Statistics: ""Self-Employment Transitions among Older American Workers with Career Jobs," by Michael D. Giandrea, Kevin E. Cahill, and Joseph F. Quinn (WP 418, April 2008, .pdf format, 38p.). Links to an abstract and full text are available at:

http://www.bls.gov/ore/abstract/ec/ec080040.htm

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Urban Institute:

"Trends in Income Volatility and Risk, 1970-2004," by Peter Gosselin and Seth Zimmerman (May 2008, .pdf format, 38p.). Links to an abstract and full text are available at:

http://www.urban.org/publications/411672.html

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Levy Institute (Bard College) [Annandale-on-Hudson, NY]:

A. "Statistical Matching Using Propensity Scores: Theory and Application to the Levy Institute Measure of Economic Well-Being," by Hyunsub Kum and Thomas Masterson (Working Paper No. 535, May 2008, .pdf format, 32p.). Links to the abstract and full-text can be found at:

http://www.levy.org/vdoc.aspx?docid=1065

B. "Argentina: A Case Study on the Plan Jefes y Jefas de Hogar Desocupados, or the Employment Road to Economic Recovery," by Daniel Kostzer (Working Paper No. 534, May 2008, .pdf format, 30p.). Links to the abstract and full-text can be found at:

http://www.levy.org/vdoc.aspx?docid=1066

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John F. Kennedy School of Government [Harvard University] Faculty Research Working Paper Series: "Gender in Job Negotiations: A Two-Level Game," by Hannah Riley Bowles and Kathleen McGinn (RWP08-027, May 2008, .pdf format, 30p.). Links to an abstract and full text are available at:

http://ksgnotes1.harvard.edu/Research/wpaper.nsf/rwp/RWP08-027

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Woodrow Wilson Research Program in Development Studies (Princeton University):

A. "Nutrition in India: Facts and Interpretations," by Angus Deaton and Jean Drèze (WP 04/08, April 2008, .pdf format, 77p.).

Abstract:

In spite of India’s rapid economic growth, there has been a sustained decline in per capita calorie consumption during the last twenty-five years. While the decline has been largest among better-off households, it has taken place throughout the range of household per capita total expenditure. For both adults and children, anthropometric indicators of nutritional status in India are among the worst in the world. While these indicators have shown improvement over time, the rate of progress is slow relative to what might be expected based on international and historical experience. This paper presents the basic facts about growth, poverty and nutrition in India, it points to a number of puzzles, and it sketches a preliminary story that is consistent with the evidence. The reduction in calorie consumption cannot be attributed to declining real incomes, nor to any increase in the relative price of food. Our leading hypothesis, on which much work remains to be done, is that, as real incomes and wages have increased, leading to some nutritional improvement, there has been an offsetting reduction in calorie requirements due to declining levels of physical activity and possibly also to various improvements in the health environment. If correct, this analysis does not imply that Indians are currently adequately nourished; nothing could be further from the truth. Calorie intake has serious limitations as a nutritional intake; while calories are extremely important, there are too many sources of variation in calorie requirements for standard, invariant, calorie-norms to be usefully applied to large sections of the population. We conclude with a plea for better, and more regular, monitoring of nutritional status in India.

http://weblamp.princeton.edu/chw/papers/deaton_dreze_india_nutrition.pdf

B. "Making Sense of the Labor Market Sense Height Premium: Evidence from the British Household Panel Survey," by Anne Case, Christina Paxson, and Mahnaz Islam (WP 05/08, May 2008, .pdf format, 11p.).

Abstract:

We use nine waves of the British Household Panel Survey (BHPS) to investigate the large labor market height premium observed in the BHPS, where each inch of height is associated with a 1.5 percent increase in wages, for both men and women. We find that half of the premium can be explained by the association between height and educational attainment among BHPS participants. Of the remaining premium, half can be explained by taller individuals selecting into higher status occupations and industries. These effects are consistent with our earlier findings that taller individuals on average have greater cognitive function, which manifests in greater educational attainment, and better labor market opportunities.

http://www.princeton.edu/~accase/downloads/w14007_Case_Paxson_Islam.pdf

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International Monetary Fund: "Should Italy Sell Its Nonfinancial Assets to Reduce the Debt?" by Stephanie Fabrizio (Policy Discussion Paper No. 08/1, May 2008, .pdf format, 13p.). Links to an abstract and full text are available at:

http://www.imf.org/external/pubs/cat/longres.cfm?sk=21921.0

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World Bank Policy Research Programme: PRP has recently released several new working papers. See the list at:

http://econ.worldbank.org/resource.php?type=5

New papers are: 4619-4626.

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European Central Bank: The ECB has recently released several new working papers:

http://www.ecb.eu/pub/scientific/wps/date/html/wpsall.en.html

The new papers are numbered 896-903.

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Reserve Bank of Australia: "Combining Multivariate Density Forecasts Using Predictive Criteria," by Hugo Gerard and Kristoffer Nimark (Research Discussion Paper 2008-02, May 2008,.pdf format, 30p.). Links to an abstract and full text are available at:

http://www.rba.gov.au/PublicationsAndResearch/RDP/RDP2008-02.html

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Bank of Finland: "Why do growth rates differ? Evidence from cross-country data on private sector production," by Juha Kilponen and Matti Viren (Discussion Paper No. 13/2008, May 2008,.pdf format, 29p.). Links to an abstract and full text are available at:

http://www.bof.fi/en/julkaisut/tutkimukset/keskustelualoitteet/2008/dp2008_13.htm

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Central Bank of Iceland:

A. "The great moderation Icelandic style," by Ásgeir Daníelsson (Working Paper No. 38, May 2008, .pdf format, 31p.).

Abstract:

Reduction in the volatility in macroeconomic time series has been documented for a number of countries. This paper documents similar reduction for the Icelandic economy. The paper estimates the timing of the breakpoint and/or a trend in the variance of the series. The paper finds that the reduction in the variance in changes in Gross National Income (GNI) is larger than the reduction in the variance in the changes in GDP, both because of a reduction in the volatility in terms of trade and because of a reduction in the correlation between changes in GDP and changes in terms of trade. The largest contribution to the decline in the volatility in GNI comes though from the reduction in the volatility in GDP. The paper finds that the volatility in GDP has declined more than the volatility of its components, except export where the decline is greater. The main reason for the decline in the volatility in export is a decline in the volatility in fishing and fish processing. The paper finds that there is a strong relationship between the volatility in export and the volatility in GDP.

http://www.sedlabanki.is/lisalib/getfile.aspx?itemid=5977

B. "Accuracy in forecasting macroeconomic variables in Iceland," by Ásgeir Daníelsson (Working Paper No. 39, May 2008,.pdf format, 30p.).

Abstract:

This paper discusses accuracy in forecasting of macroeconomic time series in Iceland. Until recently only the National Economic Institute (NEI) did macroeconomic forecasting in Iceland. Extensive analysis of forecasting can therefore only be done for the forecasts made by this institution during 1974-2002. The paper analysis macroeconomic forecasts published by the Central Bank of Iceland (CBI). It also analysis the accuracy of the first releases of data from Statistics Iceland as "forecasts" of final (or the most recent) data during recent years. Forecasts made by international institutions like OECD and IMF are not included. The paper finds that errors in forecasting of GDP and private consumption have declined and that the performance of the forecasting for these variables has improved on some measures. But the volatility in the series has also decreased so when the forecast errors are compared to measures of the shocks that hit the economy the forecasting of changes in GDP do not seem to have improved. For some of the main components of GDP like export, imports and investments, the forecast errors have not decreased.

http://www.sedlabanki.is/lisalib/getfile.aspx?itemid=5978

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Reserve Bank of New Zealand:

A. "Analysing shock transmission in a data rich environment: A large BVAR for New Zealand," by Chris Bloor and Troy Matheson (DP2008/09, May 2008,.pdf format, 32p.).

Abstract:

We analyse a large Bayesian Vector Autoregression (BVAR) containing almost one hundred New Zealand macroeconomic time series. Methods for allowing multiple blocks of equations with block-specific Bayesian priors are described, and forecasting results show that our model compares favourably to a range of other time series models. Examining the impulse responses to a monetary policy shock and to two less conventional shocks -- net migration and the climate -- we highlight the usefulness of the large BVAR in analysing shock transmission.

http://www.rbnz.govt.nz/research/discusspapers/dp08_09.pdf

B. "A macro stress testing model with feedback effects," by Mizuho Kida (DP2008/08, May 2008,.pdf format, 35p.).

Abstract:

Stress testing is a tool to analyse the resilience of a financial system under extreme shocks. In contrast to single-bank stress testing models, macro stress testing models attempt to analyse risk for the system as a whole by taking into account feedback -- i.e. the transmission of risks -- within the system or between the financial system and the real economy. This paper develops a simple model of macro stress testing, incorporating two types of feedback: one between credit and interest rate risks and another between the banking system and the real economy. The model is tested using hypothetical banking sector data. The results from the exercise highlight the importance of incorporating feedback effects for the assessment of total risks to the system, and of recognising more than one type of feedback effect in a model for a robust assessment of risks to financial stability.

http://www.rbnz.govt.nz/research/discusspapers/dp08_08.pdf

C. "Heterogeneous Expectations, Adaptive Learning, and Forward-Looking Monetary Policy," by Martin Fukac (DP2008/07, May 2008,.pdf format, 22p.).

Abstract:

In this paper, I examine the role of monetary policy in a heterogeneous expectations environment. I use a New Keynesian business cycle model as the experiment laboratory. I assume that the central bank and private economic agents (households and producing firms) have imperfect and heterogeneous information about the economy, and as a consequence, they disagree in their views on its future development. I facilitate the heterogeneous environment by assuming that all agents learn adaptively. Measured by the central bank's expected loss, the two major findings are: (i) policy that is efficient under homogeneous expectations is not efficient under heterogeneous expectations; (ii) in the short and medium run, policy that is excessively responsive to inflation increases inflation and output volatility, but in the long run such policy lowers economic volatility.

http://www.rbnz.govt.nz/research/discusspapers/dp08_07.pdf

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De Nederlandsche Bank (Bank of the Netherlands):

A. "Liquidity Stress-Tester: A macro model for stress-testing banks' liquidity risk," by Jan Willem van den End (No. 175/2008,.pdf format, 23p.).

http://www.dnb.nl/dnb/home/file/Working%20paper%20175_tcm47-175526.pdf

B. "Market Thinness, List Price Revisions and Time to Sell: Evidence from a large-scale housing dataset," by Marco Hoeberichts, Maarten van Rooij and Arjen Siegmann (No. 176/2008,.pdf format, 19p.).

http://www.dnb.nl/dnb/home/file/Working%20Paper%20176_tcm47-175553.pdf

Links to abstracts for both are available at:

http://www.dnb.nl/dnb/home/news_and_publications/dnb_publications/dnb_working_papers_series/dnb_working_papers/en/47-148637.html

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World Bank Policy Research Program:: WDP has recently released several new working papers. See the list at:

http://econ.worldbank.org/resource.php?type=5

New Papers are: 4619-4626

and click on "More" for the rest.

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Institute for the Study of Labor (IZA) [University of Bonn, Germany]: IZA has recently released several new working papers.

http://www.iza.org/index_html?lang=en&mainframe=http%3A//www.iza.org/en/webcontent/publications/papers/index_html%3Fyear%3D2008&topSelect=publications&subSelect=papers

The new working papers are: 3480-3490.

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Institute for Social and Economic Research (ISER) [University of Essex, Colchester, UK]: "Keeping up or falling behind? The impact of benefit and tax uprating on incomes and poverty, by Holly Sutherland, Ruth Hancock, John Hills, and Francesca Zantomio (WP 2008-18, May 2008, .pdf format, 29p.).

Abstract:

Each year, the Government decides how much to raise benefits and tax allowances. In the UK the basis for these upratings is rarely debated, yet has major long-term consequences for the relative living standards of different groups as well as for the public finances. This paper considers the medium term implications of present uprating policies which vary across parameters of the tax-benefit system. Continuing for 20 years, other things staying the same, would result in a near doubling of the child poverty rate alongside a substantial gain to the public finances. At the same time pensioners are largely protected by the earnings indexation of pensioner benefits and, in time, the basic state pension. We show how difficult it will be to meet the UK child poverty targets unless the greater inequality inherent in the current regime for uprating payments and allowances is redressed.

http://www.iser.essex.ac.uk/pubs/workpaps/pdf/2008-18.pdf

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New Economic Papers (NEP)-ALL. The latest list of New Economic Papers (May 10, 2008).

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):

European Economic Review (Vol. 52, No. 4, May 2008).

http://www.sciencedirect.com/science/journal/00142921

Journal of Development Economics (Vol. 87, No. 1, August 2008).

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

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EMPLOYMENT OPPORTUNITIES:

Chronicle of Higher Education:

Economic positions has been updated through May 19, 2008.

http://chronicle.com/jobs/100/200/2000/

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LEGISLATION INFORMATION UPDATES:

US Senate Finance Committee Hearing Testimony: "Cracking the Code--Tax Reform for Individuals," a hearing held May 13, 2008 (.pdf format).

http://finance.senate.gov/sitepages/hearing051308.htm

A webcast of the hearing (RealPlayer format, running time: 1 hour, 33 minutes, 17 seconds) is available at:

http://finance.senate.gov/hearings/other/hearing051308.ram

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DATA:

US Department of Agriculture, Economic Research Service:

A. "Agricultural Productivity in the United States, 1960-2004," (May 2008, Microsoft Excel format).

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

B. "Season-Average Price Forecasts" (May 2008, Microsoft Excel format).

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

B. State Fact Sheet Updates: "State fact sheets provide information on population, employment, income, farm characteristics, farm financial indicators, and top commodities, exports, and counties for each state in the United States." The latest update was released May 9, 2008.

http://www.ers.usda.gov/StateFacts/

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Luxembourg Income Study: "New Wave VI data are available for Sweden 2005" (May 19, 2008). For more information see:

http://www.lisproject.org/techdoc/se/seindex.htm

Data Access:

http://www.lisproject.org/dataccess.htm

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WEBSITE UPDATES:

UNdata: "The United Nations Statistics Division (UNSD) of the Department of Economic and Social Affairs (DESA) has launched a new internet-based data service for the global user community. It brings UN statistical databases within easy reach of users through a single entry point from which users can now search and download a variety of statistical resources of the UN System. Useful features like Country Profiles, Advanced Search and Glossaries are also provided to aid research. Currently, there are 14 databases and 6 glossaries containing over 55 million data points and covering a whole range of statistics including Population, Industry, Energy, Trade and National Accounts. Whilst this initial version of UNdata is fully equipped with all the functionalities for data access, the development team is continuously adding new databases and features to further enhance the usefulness to users. When fully developed, UNdata will have a comprehensive array of international and national databases providing the world instant access to a wealth of statistical information."

http://data.un.org/

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