The last decade witnessed an explosion of research into the impact of international technology differences on the factor content of trade. Yet the literature has failed to confront two pivotal issues. First, with international technology differences and traded intermedi...

We provide an in-depth analysis of the theoretical and statistical properties of the Hansen-Jagannathan (HJ) distance that incorporates a no-arbitrage constraint. We show that for stochastic discount factors (SDF) that are spanned by the returns on the test assets, test...

This article explores how concepts from justice and ethics can inform energy decision-making and highlight the moral and equity dimensions of energy production and use. It defines “energy justice” as a global energy system that fairly distributes both the benefits and b...

Using novel survey data on technology licensing, we report the first empirical evidence linking the three main sources of failure emphasized in the market design literature (lack of market thickness, congestion, lack of market safety) to deal outcomes. We disaggregate t...

The core hypothesis of this paper is that an individual's time use choices may be contingent on the time use choices of others, because the utility derived from leisure time often benefits from the presence of companionable others inside and outside the household. We de...

This paper explores the hypothesis that high volatility of real and nominal exchange rates may be due to the fact that local currency pricing eliminates the pass-through from changes in exchange rates to consumer prices. Exchange rates may be highly volatile because in ...

We present an empirical model of earnings that controls for observable and unobservable characteristics of workers (person effects), unmeasured characteristics of their employers (firm effects), and unmeasured characteristics of worker-firm matches (match effects). We i...

relationships to water including the use of traditional water sources such as mountain creeks and springs. In this paper, we seek to reimagine water security through a case study of Tr&rsquo

The paper defines ‘stochastic governance’ as the governance of populations and territory by reference to the statistical representations of metadata. Stochastic governance aims at achieving social order through algorithmic calculation made actionable through policing an...

Substantial theoretical and empirical literature suggests that the extent to which children's early experiences contribute to the development of aggressive behaviors may depend on the psychophysiological regulatory capacities of the child. This study adds to this litera...