03202nam 2200625Ia 450 991045511540332120200520144314.01-282-40369-90-8157-0400-39786612403699(CKB)1000000000817539(EBL)472701(OCoLC)646837353(SSID)ssj0000335404(PQKBManifestationID)11929229(PQKBTitleCode)TC0000335404(PQKBWorkID)10272837(PQKB)10436670(MiAaPQ)EBC472701(Au-PeEL)EBL472701(CaPaEBR)ebr10338476(CaONFJC)MIL240369(EXLCZ)99100000000081753920000912d2009 uy 0engur|n|---|||||txtccrBrookings-Wharton papers on urban affairs2009[electronic resource] /Gary Burtless and Janet Rothenberg Pack, editorsWashington, D.C. Brookings Institution Pressc20091 online resource (237 p.)Brookings-Wharton papers on urban affairs ;2009"The annual forum and journal are the products of a collaboration between the Brookings Institution Center on Urban and Metropolitan Policy and the Zell Lurie Real Estate Center at the Wharton School of the University of Pennsylvania."0-8157-0300-7 Includes bibliographical references.Front Cover; Copyright Information; Table of Contents; Preface; Editors' Summary; Job Decentralization and Residential Location; Subprime Mortgage Pricing: The Impact of Race, Ethnicity, and Gender on the Cost of Borrowing; What Explains the Quantity and Quality of Local Inventive Activity?; Urban Sprawl in Europe; Connecting Lagging and Leading Regions: The Role of Labor Mobility; A Reconsideration of the NAS Rule from an Industrial Agglomeration Perspective; Back CoverTentative contents include: A Farewell to ARMS: The Rise and Fall of Subprime Adjustable Rate MortgagesAndrew Haughwout (Federal Reserve Bank of NewYork), Joseph Tracy (FRB New York), and Christopher Mayer (Columbia University) What Explains the Quality and Quantity of Local Inventive Activity?Joseph Carlino and Robert Hunt (Federal Reserve Bank of Philadelphia)Migrating to Economic Density: Rational Decisions or Bright Lights?Somik Lall (World Bank) and Christopher Timmins (Duke University) The Structure of European CitiesEleonora Patacchini (University of Rome) and Yves Zenou (Stockholm Urban economicsUrban policyElectronic books.Urban economics.Urban policy.307Burtless Gary T.1950-519076Pack Janet Rothenberg879496Brookings Institution.Center on Urban and Metropolitan Policy.Samuel Zell and Robert Lurie Real Estate Center.MiAaPQMiAaPQMiAaPQBOOK9910455115403321Brookings-Wharton papers on urban affairs2165343UNINA03349oam 22009494 450 991078822160332120230721045655.01-4623-3860-71-4527-0162-81-4518-7424-397866128446691-282-84466-0(CKB)3170000000055402(SSID)ssj0001475449(PQKBManifestationID)11839883(PQKBTitleCode)TC0001475449(PQKBWorkID)11486557(PQKB)11548547(OCoLC)680613460(MiAaPQ)EBC1606009(IMF)WPIEE2009279(EXLCZ)99317000000005540220020129d2009 uf 0engurcn|||||||||txtccrElasticity OptimismWashington, D.C. :International Monetary Fund,2009.45 pIMF Working PapersBibliographic Level Mode of Issuance: Monograph1-4519-1840-2 Include bibliographical references.In most macroeconomic models, the substitutability between domestic and foreign goods is calibrated using aggregated data. This imposes homogeneous elasticities across goods, and the calibration is only valid under this assumption. If elasticities are heterogeneous, the aggregate substitutability is a weighted average of good-specific elasticities, which in general cannot be inferred from aggregated data. We identify structurally the substitutability in US goods using multilateral trade data. We impose homogeneity, and find an aggregate elasticity similar in value to conventional macroeconomic estimates. It is more than twice larger with sectoral heterogeneity. We discuss the implications in various areas of international economics.IMF Working Papers; Working Paper ;No. 2009/279Monetary policyEconomic policyExports and ImportsimfMacroeconomicsimfPrice LevelimfInflationimfDeflationimfTrade: GeneralimfMacroeconomics: ConsumptionimfSavingimfWealthimfInternational economicsimfPrice elasticityimfImport pricesimfPrice indexesimfImportsimfConsumptionimfPricesimfEconomicsimfUnited StatesimfMonetary policy.Economic policy.Exports and ImportsMacroeconomicsPrice LevelInflationDeflationTrade: GeneralMacroeconomics: ConsumptionSavingWealthInternational economicsPrice elasticityImport pricesPrice indexesImportsConsumptionPricesEconomicsInternational Monetary Fund.DcWaIMFBOOK9910788221603321Elasticity Optimism3741520UNINA