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- Working Paper
We estimate the marginal propensity to consume (MPC) out of permanent and transitory shocks to house price appreciation.
- Working Paper
This paper is intended to be pedagogical rather than a presentation of original research.
- Working Paper
This paper describes the infinite-horizon general equilibrium model that, among other models, CBO uses for its analysis of the President's budgetary proposals.
- Working Paper
We compare the performance of a subset of CBO's economic forecasts against that of an unrestricted vector autoregression (VAR) model.
- Working Paper
This paper undertakes a new strategy to estimate emigration rates among U.S. immigrants by inferring the probability of emigration using longitudinal administrative earnings data from 1978 through 2003.
- Working Paper
We find that labor supply elasticities with respect to own wages and to other household members’ income for married white women have decreased significantly in absolute terms during the 1983-2000 period.
- Working Paper
This paper provides a theoretical examination of the impact of Japan’s Employment Adjustment Subsidy, a major employment insurance policy since 1975, on labor adjustment, productivity and output fluctuations in the iron and steel sector.
- Working Paper
We study a dynamic version of Meltzer and Richard’s median-voter model where agents differ in initial wealth.
- Working Paper
This paper presents an index of capital per hour constructed using the assumption of putty-clay capital.
- Working Paper
Social Effects, Household Time Allocation, and the Decline in Union Formation: Working Paper 2005-07
Economic theories of the household and the marriage market provide potential explanations for differences in household formation rates over time based in part on the evolution of female wages.