Current Social Science Research Report--Economics #67, June 10, 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 #67

To CSSRR-Health #67

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

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CENTRAL GOVERNMENT STATISTICAL AND NGO PUBLICATIONS

US:

1. Bureau of Labor Statistics Report, News Release:

A. "Occupational Employment and Wages, 2006" (Bulletin 2702, May 2008, .pdf format, 52p.).

http://www.bls.gov/oes/2006/may/chartbook.pdf

B. "Employment Characteristics of Families: 2007" (May 30, 2008, ASCII text, HTML, and .pdf format, 13p.).

http://www.bls.gov/news.release/famee.toc.htm

2. Department of Agriculture, Economic Research Service Periodical: Amber Waves (Vol. 6, No. 3, June 2008, HTML and .pdf format, 40p.).

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

3. Government Accountability Office Report: "Climate Change: Expert Opinion on the Economics of Policy Options to Address Climate Change (GAO-08-605, May 2008, .pdf format, 75p.).

http://www.gao.gov/docsearch/abstract.php?rptno=GAO-08-605

4. US Government Economic Releases from the National Bureau of Economic Research: Links to releases for Jun. 4-10, 2008 are available at the site.

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

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US States:

Iowa:

State Data Center Updates: The SDC released the following updates (.pdf and Microsoft Excel format) on Jun. 6, 2008: State of Iowa: "Gross domestic product and real gross domestic product: 1997-2007"; Gross domestic product and real gross domestic product by industry: 1997-2007"; U.S. and all States: Total gross domestic product by state: 1997-2007."

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

See under Jun. 6, 2008 listing.

Ohio:

Office of Workforce Development Periodical: Ohio Labor Market Review: April 2008 (June 2008, .pdf format, 34p.).

http://lmi.state.oh.us/CES/LMR.pdf

Utah:

Bureau of Economic and Business Research, David Eccles School of Business at the University of Utah Report: "An Analysis of Long-Term Economic Growth in Southwestern Utah: Past and Future Conditions," by Jan E. Crispin, John C. Downen, Pamela S. Perlich, and James A. Wood (June 2008, .pdf format, 190p.).

http://www.bebr.utah.edu/Documents/studies/SouthwesternUtahGrowth.pdf

Accompanying slide presentations: (April and June 2008, .pdf format, 17 and 29p.).

"Demographic and Economic Trends in Southwestern Utah (4/08)"

http://www.bebr.utah.edu/Documents/studies/SouthwesternUtahpresentation.pdf

"Southwestern Utah Population and Economy (6/08)"

http://www.bebr.utah.edu/Documents/studies/SWUtahPopulationEconomy.pdf

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NGOs and Other Countries:

United Nations:

Department of Economic and Social Affairs Reports:

A. "Trends in Sustainable Development 2008-2009," (April 2008, .pdf format, 34p.).

http://www.un.org/esa/sustdev/publications/trends2008/

B. "Trends in Sustainable Development - Africa," (April 2008, .pdf format, 49p.).

http://www.un.org/esa/sustdev/publications/trends_africa2008/

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Eurostat Periodicals, News Release:

A. Statistics in Focus. The latest issues (8/51, .pdf format) are now available at the SIF website:

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

B. Data in Focus: The latest issue: 18/08 (.pdf format) is now available on the DIF website:

http://epp.eurostat.ec.europa.eu/portal/page?_pageid=0,62992791&_dad=portal&_schema=PORTAL

C. "An EU27 surplus in trade in goods with the USA of more than 80 bn euro in 2007" (Jun. 9, 2008, .pdf format, 5p.).

http://epp.eurostat.ec.europa.eu/pls/portal/docs/PAGE/PGP_PRD_CAT_PREREL/PGE_CAT_PREREL_YEAR_2008/PGE_CAT_PREREL_YEAR_2008_MONTH_06/6-09062008-EN-AP.PDF

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Organisation for Economic Co-operation and Development Reports, Periodical:

A. "Economic Survey of Finland 2008" (June 2008). For more information, including ordering information, see:

http://www.oecd.org/document/63/0,3343,en_2649_201185_40704511_1_1_1_1,00.html

Related Policy Brief (.pdf format, 12p.).

http://www.oecd.org/dataoecd/45/57/40673434.pdf

B. "Economic Survey of Poland 2006" (June 2008). For more information, including ordering information, see:

http://www.oecd.org/document/9/0,3343,en_2649_201185_36952457_1_1_1_1,00&&en-USS_01DBC.html

Related Policy Brief (.pdf format, 12p.).

http://www.oecd.org/dataoecd/19/10/36957046.pdf

C. OECD Economic Outlook (No. 83, June 2008). For more information, including ordering information, see:

http://www.oecd.org/document/18/0,3343,en_2649_201185_20347538_1_1_1_1,00.html

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International Monetary Fund Country Reports: The latest Country Reports (.pdf format) span the time period from Jun. 4-Jun. 10, 2008 (No. 08/175-08/179):

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

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World Bank Periodical: Research Digest (Vol. 2, No. 3, 2008, .pdf format, Spring 2008).

http://econ.worldbank.org/WBSITE/EXTERNAL/EXTDEC/0,,contentMDK:21008317~pagePK:64165401~piPK:64165026~theSitePK:469372,00.html?cid=decresearch

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Bosnia & Herzegovina:

Federal Office of Statistics Periodical: Monthly Statistical Review: May 2008 (June 2008, .pdf format, 81p.).

http://www.fzs.ba/Eng/mjeng.htm

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Canada:

Statistics Canada/Statistique Canada Reports:

A. "Low Income Cut-offs for 2007 and Low Income Measures for 2006" (Income Research Paper Series, June 2008, .pdf format, 40p.).

http://www.statcan.ca/english/research/75F0002MIE/75F0002MIE2008004.htm

B. "The Control and Sale of Alcoholic Beverages in Canada," (June 2008, .pdf format 47p.).

http://www.statcan.ca/english/freepub/63-202-XIE/63-202-XIE2006000.htm

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Finland:

Statistics Finland News Releases:

A. "Volume of services in mobile networks continued to grow in 2007" (Jun. 5, 2008, HTML and .pdf format, 15p.).

http://www.stat.fi/til/tvie/2007/tvie_2007_2008-06-05_tie_001_en.html

B. "Growth in central government productivity slowed down in 2007" (Jun. 6, 2008, HTML and .pdf format, 4p.).

http://www.stat.fi/til/vatt/2007/vatt_2007_2008-06-06_tie_001_en.html

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Germany:

Federal Statistical Office STATmagazin Article: "Temporary employment: Results of the Microcensus 2006," by Katharina Puch (March 2008).

http://www.destatis.de/jetspeed/portal/cms/Sites/destatis/Internet/EN/Navigation/Publications/STATmagazin/2008/LabourMarket2008__3,templateId=renderPrint.psml__nnn=true

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Hungary:

Central Statistical Office Periodical: Statistical Reflections (Vol. 2, No. 8, June 2008, .pdf format, 2p.).

http://portal.ksh.hu/pls/ksh/docs/eng/xftp/stattukor/szkul/eszkul0803.pdf

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Iceland:

Statistics Iceland Report: "Imported raw material for fish processing 2007" (June 2008, .pdf format, 16p.). The report is in Icelandic, with an English summary. Table headings are in Icelandic and English.

http://www.statice.is/Pages/452?itemid=5b1fac14-5897-48d9-9600-74e370e08b03

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Japan:

Statistics Bureau Reports:

A. "Summary Results of The 2007 Family Income and Expenditure Survey" (June 2008, .pdf format, with tables in Microsoft Excel format).

http://www.stat.go.jp/english/data/kakei/156index.htm

B. "Annual Report on the Labour Force Survey 2007" (June 2008, .pdf format, 15p, with tables in Microsoft Excel format).

http://www.stat.go.jp/english/data/roudou/report/2007/ft/index.htm

C. "Annual Report on the Labour Force Survey 2007 (II Detailed Tabulation)" (June 2008, .pdf format, 23p., with tables in Microsoft Excel format).

http://www.stat.go.jp/english/data/roudou/report/2007/dt/index.htm

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Malaysia:

Department of Statistics Reports:

A. "Economic Census 2006 Malaysia - Manufacturing" (June 2008, .pdf format, 9p.).

B. "Economic Census 2006 Malaysia - Mining & Quarrying" (June 2008, .pdf format, 7p.).

http://www.statistics.gov.my/

Scroll down the left side of the page to the above titles and click on "Findings".

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Netherlands:

Statistics Netherlands Web Magazine Article: "Higher oil and food prices affecting Dutch exports," by Oscar Lemmers (Jun. 10, 2008).

http://www.cbs.nl/en-GB/menu/themas/internationale-handel/publicaties/artikelen/archief/2008/2008-2477-wm.htm

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Norway:

Statistics Norway Report, News Releases:

A. "An innovation and climate policy model with factor-biased technological change," by Brita Bye, Taran Fæhn, Tom-Reiel Heggedal, Karl Jacobsen, and Birger Strøm (June 2008, .pdf format, 53p.).

http://www.ssb.no/english/subjects/01/90/rapp_200822_en/

B. "Silviculture, 2007" (Jun. 5, 2008). The news release links to four topical tables.

http://www.ssb.no/english/subjects/10/04/20/skogkultur_en/

C. "The Merchant Fleet, 2007" (Jun. 6, 2008). The news release links to six topical tables.

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

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Palestinian National Authority Press Release: "Press Release on the Results of the Economic Establishments 2007" (Jun. 8, 2008, .pdf format. 1p.).

http://www.pcbs.gov.ps/Portals/_pcbs/PressRelease/ESTE-2007.pdf

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Poland:

Central Statistical Office Periodicals:

A. Prices in the National Economy (April 2008) (June 2008, .pdf and .zip compressed .pdf format, 73p.). The periodical is in Polish and English.

http://www.stat.gov.pl/gus/45_727_ENG_HTML.htm

B. Information on socio-economic situation of voivodships (No. 1, 2008, June 2008, .pdf and .zip compressed .pdf format, 73p.). The periodical is in Polish and English.

http://www.stat.gov.pl/gus/45_742_ENG_HTML.htm

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Romania:

National Institute of Statistics Periodical: Prices Statistical Bulletin (No. 4, 2008, June 2008, .pdf format, 53p.). The periodical is in Romanian and English.

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

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

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South Africa:

Statistics South Africa Report: "Wholesale trade industry, 2005" (June 2008, .pdf format, 50p.).

http://www.statssa.gov.za/Publications/statsdownload.asp?PPN=Report-61-01-01&SCH=4163

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Sweden:

Statistics Sweden Report, Press Releases:

A. "International sourcing. Moving business functions abroad" (Statistics Sweden. Denmark, Norway, Finland, and the Netherlands, June 2008, .pdf format, 89p.).

http://www.scb.se/templates/PlanerPublicerat/ViewInfo.aspx?publobjid=8977&lang=EN

B. "Foreign ownership of holiday homes in Sweden 2007" (Jun. 4, 2008).

http://www.scb.se/templates/pressinfo____238877.asp

C. "Rents for dwellings in 2007" (Jun. 9, 2008).

http://www.scb.se/templates/pressinfo____239455.asp

D. "Household expenditures 2007" (Jun. 9, 2008).

http://www.scb.se/templates/pressinfo____239362.asp

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Thailand:

National Statistics Office Reports:

A. "Information and Communication Technology Survey: Whole kingdom 2007" (2008, .pdf format, 6p.).

http://web.nso.go.th/eng/en/stat/ict/ict_pref00.htm

B. "Time Use Survey" (2008, Microsoft Excel format).

http://web.nso.go.th/eng/en/stat/timeuse/time_use00.htm

Click on "The Content of Statistical Tables" for link to tables.

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Ukraine:

State Statistics Committee Report: "Structure of the wholesale trade turnover of the Ukraine's wholesale enterprises: 2005-2007" (Jun. 6, 2008).

http://www.ukrstat.gov.ua/operativ/operativ2007/sr/sot/sot_e/sot2007_e.htm

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UK:

1. Communities and Local Government Report: "Local authority revenue expenditure and financing England: 2008-09 Budget" (June 2008, .pdf format and Microsoft Excel format).

http://www.communities.gov.uk/corporate/834664

Link to text and tables is at the bottom of the page.

2. Department for Work and Pensions Reports:

A. "Family Resources Survey 2006-07" (June 2008, .pdf format, 194p.).

http://www.dwp.gov.uk/asd/frs/2006_07/index.asp

B. "Households Below Average Income (HBAI): 1994/95-2006/07" (June 2008,.pdf format, 199p.).

http://www.dwp.gov.uk/asd/hbai/hbai2007/contents.asp

C. "Income-related benefits: estimates of take-up in 2006-07" (June 2008, .pdf format, 138p.).

http://www.dwp.gov.uk/asd/irb_0506_2.asp

3. National Statistics Office Periodical, Report, News Release:

A. Financial Statistics, edited by Natu Somabhai Patel (No. 554, June 2008, .pdf format, 287p.).

http://www.statistics.gov.uk/StatBase/Product.asp?vlnk=376

B. "PRODCOM (manufactured PRODucts of the European COMmunity) Annual Reports 2007: phase 2" (June 2008, .pdf format). Latest releases are listed on this page. Click on "Latest Release" for link.

http://www.statistics.gov.uk/statbase/prep/9660.asp

C. "1.04 million working days lost to disputes in 2007" (Jun. 9, 2008, .pdf format, 2p.).

http://www.statistics.gov.uk/pdfdir/elmr0608.pdf

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Wales:

Welsh Assembly Government/Llywodraeth Cynulliad Cymru Report: "Local Authority Capital Forecast, 2008-09" (June 2008, .pdf format, 5p.).

http://new.wales.gov.uk/topics/statistics/headlines/locgov2008/hdw20080605/?lang=en

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OTHER REPORTS, ARTICLES, ETC.:

Urban Institute Report: "Measuring Trends in Income Variability," by Austin Nichols and Seth Zimmerman (May 2008, .pdf format, 58p.).

http://www.urban.org/url.cfm?ID=411688

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Pew Hispanic Center Report: "Latino Labor Report, 2008: Construction Reverses Job Growth for Latinos," by Rakesh Kochhar (June 2008, .pdf format, 29p.).

http://pewhispanic.org/reports/report.php?ReportID=88

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National Research Council Monograph: Using the American Community Survey for the National Science Foundation's Science and Engineering Workforce Statistics Programs (Panel to Assess the Benefits of the American Community Survey for the NSF Science Resources Statistics Division, Committee on National Statistics, National Research Council, National Academies Press, forthcoming, 2008, OpenBook format, 97p.). Links to ordering information for a print copy are available at the site.

http://books.nap.edu/catalog.php?record_id=12244

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Political Economy Research Institute [University of Massachusetts-Amherst] Report: "Job Opportunities for the Green Economy: A State-by-State Picture of Occupations that Gain from Green Investments," by Robert Pollin and Jeannette Wicks-Lim (June 2008, .pdf format, 15p.).

http://www.bluegreenalliance.org/atf/cf/%7B3637E5F0-D0EA-46E7-BB32-74D973EFF334%7D/NRDC_report_May28.pdf

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Century Foundation Brief: "No Special Treatment Needed: Capital Gains Taxation In The Short And Long Run," by Bernard Wasow (June 2008, .pdf format, 28p.).

http://www.tcf.org/list.asp?type=PB&pubid=645

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Center on Budget and Policy Priorities Report: "Facing Deficits, Many States Are Imposing Cuts That Hurt Vulnerable Residents," by Iris J. Lav and Elizabeth Hudgins (June 2008, HTML and .pdf format, 8p.).

http://www.cbpp.org/3-13-08sfp.htm

More information on CBPP:

http://www.cbpp.org/info.html

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WORKING PAPERS:

Federal Reserve Banks:

Federal Reserve Board: "Lifecycle Dynamics of Income Uncertainty and Consumption," by James Feigenbaum and Geng Li (Working Paper No. 2008-27, May 2008, .pdf format, p.). Links to an abstract and full text are available at:

http://www.federalreserve.gov/Pubs/feds/2008/200827/200827abs.html

Federal Reserve Bank of Boston [Massachusetts]: "Credit Card Debt and Payment Use," by Charles Sprenger and Joanna Stavins (WP 08-2, May 2008, .pdf format, 29p.). Links to an abstract and full text are available at:

http://www.bos.frb.org/economic/wp/wp2008/wp0802.htm

Federal Reserve Bank of Dallas [Texas]: "The External Finance Premium and the Macroeconomy: US Post-WWII Evidence," by Ferre De Graeve (Working Paper No. 0809, 2008, .pdf format, 28p.).

Abstract:

The central variable of theories of financial frictions-the external finance premium-is unobservable. This paper distills the external finance premium from a DSGE model estimated on U.S. macroeconomic data. Within the DSGE framework, movements in the premium can be given an interpretation in terms of shocks driving business cycles. A key result is that the estimate-based solely on nonfinancial macroeconomic data-picks up over 70 percent of the dynamics of lower grade corporate bond spreads. The paper also identifies a gain in fitting key macroeconomic aggregates by including financial frictions in the model and documents how shock transmission is affected.

http://dallasfed.org/research/papers/2008/wp0809.pdf

Federal Reserve Bank of New York [New York]: "Inflation Dynamics in a Small Open-Economy Model under Inflation Targeting: Some Evidence from Chile," by Marco Del Negro and Frank Schorfheide (Staff Report No. 329, June 2008, .pdf format, 49p.). Links to an abstract and full text are available at:

http://www.newyorkfed.org/research/staff_reports/sr329.html

Federal Reserve Bank of St. Louis [Missouri]: "Resuscitating the Credit Cycle," by Patrick A. Pintus and Yi Wen (Working Paper No. 2008-014A, June 2008, .pdf format, 26p.). Links to an abstract and full text are available at:

http://research.stlouisfed.org/wp/more/2008-014/

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US Bureau of Labor Statistics:

A. "Self-Employment Transitions among Older American Workers with Career Jobs," by Michael D. Giandrea, Kevin E. Cahill, and Joseph F. Quinn (Working Paper No. 418, April 2008, .pdf format, p.20). Links to an abstract and full text are available at:

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

B. "How Does Employment Affect the Timing of Time with Children?" by Jay Stewart and Mary Dorinda Allard (Working Paper No. 419, May 2008, .pdf format, 22p.). Links to an abstract and full text are available at:

http://www.bls.gov/ore/abstract/ec/ec080050.htm

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California Center for Population Research [University of California-Los Angeles]:

"Into the Mainstream? Labor Market Outcomes of Mexican Origen Workers," by Renee P. Reichl and Roger Waldinger (CCPR-011-08, June 2008, .pdf format, p.).

http://ebi.ccpr.ucla.edu:8080/pwp/econtent/Content.do;jsessionid=5DB8AFCA9CB0CDB8787E8B52FF1AFD8D?state=resource&resource=890

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National Bureau of Economic Research: NBER has released the following working papers for the week of Jun. 1-Jun. 7, 2008:

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

New papers are: 14050-14069

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International Monetary Fund: IMF has added the following working papers. The papers are Nos. 08/140-08/141.

http://www.imf.org/external/pubs/cat/wp1_sp.cfm?s_year=2008&e_year=2008&brtype=default

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

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

New paper is: 4644.

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World Institute for Development Economics Research [United Nations University]: "China, India, Brazil and South Africa in the World Economy: Engines of Growth?" by Deepak Nayyar (WIDER Discussion Paper 2008/05, June 2008, .pdf format, 28p.). Links to an abstract and full text are available at:

http://www.wider.unu.edu/publications/working-papers/discussion-papers/2008/en_GB/dp2008-05/

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Statistics Norway:

A. "More realistic estimates of revenue changes from tax cuts," by Thor O. Thoresen, Jørgen Aasness and Zhiyang Jia (May 2008, .pdf format, 22p.). Links to an abstract and full text are available at:

http://www.ssb.no/cgi-bin/publsoek?job=forside&id=dp-545&kode=dp&lang=en

Link to full text is at the bottom of the page.

B. "Emissions trading with updated grandfathering. Entry/exit considerations and distributional effects," by Knut Einar Rosendahl and Halvor Briseid Storrøsten (Discussion Paper 546, June 2008, .pdf format, 24p.). Links to an abstract and full text are available at:

http://www.ssb.no/cgi-bin/publsoek?job=forside&id=dp-546&kode=dp&lang=en

Link to full text is at the bottom of the page.

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Asian Development Bank: "Productivity and Employment in a Developing Country: Evidence from Republic of Korea," by Sangho Kim, Hyunjoon Lim, and Donghyun Park (Working Paper No. 116, June 2008, .pdf format, 20p.).

Abstract:

The paper empirically investigates the relationship between productivity and employment in Republic of Korea using structural vector autoregression (VAR) models. Productivity-enhancing technology shocks significantly increase hours worked, which lends support to the real business cycle theory. The results show that technology shocks can explain most elements of a business cycle both in the short and long run. On the other hand, demand shocks can only explain price fluctuations. The evidence thus suggests that Korean policymakers should give higher priority to supply-side policies that promote technological progress and innovation.

http://www.adb.org/Documents/ERD/Working_Papers/WP116.pdf

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Banco Central De Chile/Central Bank of Chile: "Exploring the Relationship Between R&D and Productivity: A Country-Level Study," by Claudio Bravo Ortega and Álvaro García Marín (Working Paper No. 472, June 2008, .pdf format, 31p.). Links to an abstract and full text are available at:

http://www.bcentral.cl/eng/studies/working-papers/472.htm

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Eesti Pank/Bank of Estonia: "Forecasting Economic Activity For Estonia: The Application Of Dynamic Principal Components Analysis," by Christian Schulz (Working Papers of Eesti Pank No. 2/2008, June 2008, .pdf format, 36p.). Links to an abstract and full text are available at:

http://www.bankofestonia.info/pub/en/dokumendid/publikatsioonid/seeriad/uuringud/_2008/_2_2008/index_wp208.html?objId=1105906

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Deutsche Bundesbank: "Regulatory capital for market and credit risk interaction: is current regulation always conservative?" by Thomas Breuer, Martin Jandacka, Klaus Rheinberger, and Martin Summer (Working Paper No. 14/2008, June 2008, .pdf format, 31p.).

Abstract:

In the work of the Basel Committee there has been a tradition of distinguishing market from credit risk and to treat both categories independently in the calculation of risk capital. In practice positions in a portfolio depend simultaneously on both market and credit risk factors. In this case, an approximation of the portfolio value function splitting value changes into a pure market risk plus pure credit risk component can lead to underestimation of risk. It can therefore not be argued that the current regulatory approach would always be conservative from a risk assessment perspective. We discuss this fact in the context of foreign currency loans and argue that under the traditional regulatory approach the true risk of a portfolio of foreign currency loans would be significantly underestimated.

http://www.bundesbank.de/download/bankenaufsicht/dkp/200814dkp_b_.pdf

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Bank of Greece: "Monetary and Fiscal Policy Interaction: What is the Role of the Transaction Cost of the Tax System in Stabilisation Policies?" by Panagiotis Chronis and Aspassia Strantzalou (Working Paper No. 71, May 2008, .pdf format, 48p.).

Abstract:

This paper aims to contribute to our understanding of the dynamics driving the Greek term structure of nominal interest rates and to explore their possible macro- economic determinants. A canonical, Vasicek-type latent affine factor model of the Greek term structure is estimated on data spanning the period March 1999 to February 2007. This framework allows us to directly examine the impact of the extracted factors on the shape of the yield curve over time and on the associated price and amount of risk in the term structure. In line with the related literature, three latent factors, i.e. a "level" factor, a "slope" factor and a "curvature" factor, appear to capture most of the time variation in the Greek nominal term structure of interest rates and to drive its dynamics. The evolution of these factors over time is examined on the basis of business cycle theory and related to macroeconomic fundamentals of the Greek economy.

http://www.bankofgreece.gr/publications/pdf/Paper200871.pdf

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Central Bank of the Republic of Turkey: "Oil Price Shocks, Macroeconomic Stability and Welfare in a Small Open Economy," by Deren Unalmis, Ibrahim Unalmis, and Derya Filiz Unsaly (Working Paper No:08/02, May 2008, .pdf format, 32p.).

Abstract:

Since the beginning of 2000s the world economy has witnessed a substantial increase in oil prices, which is seen to be an important source of economic fluctuations, causing high inflation, unemployment and low or negative growth rates. Recent experience, however, has not validated this view. Despite rising oil prices, world output growth has been strong, and although inflation has recently been increasing, it is relatively much lower compared with the 1970s. This paper focuses on the causes of oil price increases and their macroeconomic effects. Different from most of the recent literature on the subject, which understands the price of oil to be an exogenous process, we model the price of oil endogenously within a dynamic stochastic general equilibrium (DSGE) framework. Specifically, using a new Keynesian small open economy model, we analyse the effects of an increase in the price of oil caused by an oil supply shock and an oil demand shock. Our results indicate that the effects of an oil demand shock and an oil supply shock on the small open economy are quite different. In addition, we investigate the sensitivity of the general equilibrium outcomes to the degrees of oil dependence and openness, as well as the strength of the response of monetary policy authority to the inflation. Finally, we evaluate the welfare implications of alternative monetary policy regimes.

http://www.tcmb.gov.tr/research/discus/WP0802ENG.pdf

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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: 3526-3540.

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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 2008.

The new papers are numbered 2318-2322.

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New Economic Papers (NEP)-ALL. The latest list of New Economic Papers (May 31, 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://ageconsearch.umn.edu/browse-date

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

American Economic Review (No. 98, No. 2, May 2008).

http://www.aeaweb.org/issue.php?journal=AER&volume=98&issue=2

Games and Economic Behavior (Vol. 63, No. 2, July 2008).

http://www.sciencedirect.com/science/journal/08998256

Journal of Economic Dynamics and Control (Vol. 32, No. 7, July 2008).

http://www.sciencedirect.com/science/journal/01651889

Management Science (Vol. 54, No. 6, June 2008).

http://mansci.journal.informs.org/content/vol54/issue6/index.dtl

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EMPLOYMENT OPPORTUNITIES:

Chronicle of Higher Education:

Economic positions has been updated through Jun. 10, 2008.

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

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American Statistical Association: ASA has updated its employment page with listings through Jun. 9, 2008.

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

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