TREND OF SUBJECTS PUBLISHED IN ECONOMICS JOURNALS 1969–2007

We describe the evolution of subject areas published in economics over four decades and calculate the percentage of articles published in each Journal of Economic Literature (JEL) subject category, with and without weighting by Eigenfactor.com 's Article Influence (AI). Finance, Development, and Industrial Organization have seen their share of total articles rise over the past four decades while Microeconomics, Macroeconomics, and Labor have seen their share fall. We use JEL codes to define specialty journals and find that more specialty journals tend to increase the overall percentage share for that subject. This effect is ambiguous when re‐weighted by AI. (JEL A11, A14)     

Pseudo Self-Consistent Estimation of a Copula Model with Informative Censoring

Abstract.  We consider the case where a terminal event censors a non-terminal event, but not vice versa. When the events are dependent, estimation of the distribution of the non-terminal event is a competing risks problem, while estimation of the distribution of the terminal event is not. The dependence structure of the event times is formulated with the gamma frailty copula on the upper wedge, with the marginal distributions unspecified. With a consistent estimator of the association parameter, pseudo self-consistency equations are derived and adapted to the semiparametric model. Existence, uniform consistency and weak convergence of the new estimator for the marginal distribution of the non-terminal event is established using theories of empirical processes, U -statistics and Z -estimation. The potential practical utility of the methodology is illustrated with simulated and real data sets.     

THE TERMS OF TRADE AND THE INTERNATIONAL COORDINATION OF FISCAL POLICY

This paper develops an example of a noncooperative game between fiscal authorities in two countries. The key strategic link between countries is the terms of trade. An equilibrium without cooperation is characterized by excessive tax rates and public spending levels in each country. The outcome is analogous to the Nash equilibrium of the static optimal tarif game in trade theory. But in this model there is also a dynamic distortion caused by noncooperative behaviour. This dynamic distortion depresses capital accumulation and reduces the equilibrium capital stock in each country. Numerical examples suggest a significant welfare benefit of cooperation.     

NONLINEAR BUSINESS CYCLE DYNAMICS: CROSS-COUNTRY EVIDENCE ON THE PERSISTENCE OF AGGREGATE SHOCKS

We look for asymmetries in the dynamics of real GDP growth for the G7 countries, using a model by Beaudry and Koop that allows the depth of a recession to influence the rate of growth of output. We find evidence supporting these nonlinearities in four countries, including the United States, but we do not find evidence that the asymmetries are common even among the four countries exhibiting asymmetric behavior. A modification of the model to distinguish between the recession and recovery phases of a business cycle does not change this general finding. The asymmetries discovered by Beaudry and Koop do not appear to be common among the G7 nations. (JEL E32)     

THE VERTICAL CHAIN OF RESEARCH AND DEVELOPMENT IN THE PHARMACEUTICAL INDUSTRY

This paper examines the relationship between basic and applied pharmaceutical research. We focus on three stages of research and development (R & D): government-funded basic research; publication in medical journals; and industry-finded applied R&D. We estimate that a one percent increase in basic research in a particular therapeutic category causes a 0.76 percent increase in industry R&D in that category, and a 1.71 percent increase in other categories, mer seven years. We also find that research incentives differ across government, academic and industry researchers. For example, government funding favors diseases that are less prevalent and more debilitating than industry funding.     

The transnational politics of the Tomato King: meaning and impact

Abstract In this article we deploy transnational ethnography to explore the transnational electoral politics by which Andrés Bermúdez, a successful tomato grower and labour contractor from Winters, California, who came to be called ‘the Tomato King’, was elected mayor of the municipality of Jerez in the Mexican state of Zacatecas. We seek to explain the meaning of his transnational electoral victory and its impact on the role of ‘the migrant’ as a new social actor in Mexican political development. We thus situate the Bermudista phenomenon in the context of the literature on migrant transnational politics. We hope to move the literature on migrant political transnationalism forward by advancing an agency‐oriented perspective that incorporates both the politics of representation of ‘el migrante’ in transnational electoral campaigns and the emerging dynamics of transnational coalition politics. Our approach underlines the need to carefully historicize the relationship between transnationalism and citizenship ‐ namely, to map the contingency and agency underlying the changing practices of states, migrants, and transnational institutional networks vis‐à‐vis questions of transnational citizenship. This is best done by paying close attention to the actual social and political practices whereby human agents pursue historically specific political projects that extend the practices of citizenship across borders.     

Maximum Likelihood Estimation in Gaussian Chain Graph Models under the Alternative Markov Property

Abstract.  The Andersson–Madigan–Perlman (AMP) Markov property is a recently proposed alternative Markov property (AMP) for chain graphs. In the case of continuous variables with a joint multivariate Gaussian distribution, it is the AMP rather than the earlier introduced Lauritzen–Wermuth–Frydenberg Markov property that is coherent with data-generation by natural block-recursive regressions. In this paper, we show that maximum likelihood estimates in Gaussian AMP chain graph models can be obtained by combining generalized least squares and iterative proportional fitting to an iterative algorithm. In an appendix, we give useful convergence results for iterative partial maximization algorithms that apply in particular to the described algorithm.