Current Social Science Research Report--Economics #28, August 28, 2007.

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:


CSSRR-Economics is compiled and edited by Jack Solock and Charlie Fiss.


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Index to this issue:














1. Census Bureau Report: "Income, Poverty, and Health Insurance Coverage in the United States: 2006 report," by Carmen DeNavas-Walt, Bernadette D. Proctor, and Jessica Smith (Current Population Reports Consumer Income P60-233, August 2007, .pdf format, 67p.). The report is linked to from a Census Bureau news release: "Household Income Rises, Poverty Rate Declines, Number of Uninsured Up" (CB07-120, Aug. 28, 2007). The news release also links to detailed income, poverty, and health insurance tables from the 2007 Annual Social and Economic Supplement (ASEC) of the Current Population Survey (CPS)."

and click on tables for links to tables or title for link to full text.

2. Bureau of Labor Statistics Report, Periodical:

A. "National Compensation Survey: Employee Benefits in Private Industry in the United States, March 2007," (Summary 07-05, August 2007, .pdf format, 39p.).

B. Monthly Labor Review (Vol. 130, No. 6, June 2007, .pdf format).

Note: this is a temporary address. When the next MLR is released, this one, along with all others back to 1981, will be available at:

3. Department of Agriculture, Economic Research Service Report: "China Currency Appreciation Could Boost U.S. Agricultural Exports," by Fred Gale and Francis C. Tuan (Outlook Report No. (WRS-0703), August 2007, .pdf format, 26p.).

4. National Science Foundation Statistical Brief: "Annual Deficits Continue for the U.S. Trade in Advanced Technology Products," by Lawrence M. Rausch and Derek Hill (NSF 07-329, HTML and .pdf format, 10p.).

5. US Government Economic Releases from the National Bureau of Economic Research: Links to releases for Aug. 21-Aug. 28, 2007 are available at the site.

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US States:

New Jersey:

Department of Labor and Workforce Development Report: "County Annual Averages: 1990-2006" (August 2007, Microsoft Excel format). Unemployment rate statistics were updated on Aug. 24, 2007).

North Dakota:

State Data Center Periodical: Economic Brief (Vol. 16, No. 8, August 2007, .pdf format, 3p.). The title of this month's Brief is "North Dakota Gross Domestic Product by Industry: 2006."


Department of Workforce Development Report: "Ohio Economic Analysis, 2007: Understanding the Environment and Charting a Course for the Future" (2007, .pdf format, 42p.).

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NGOs and Other Countries

United Nations:

Economic Commission for Latin America and the Caribbean Report: "Latin America and the Caribbean in the World Economy: 2007 trends," (2007, .pdf format, 213p.).


International Monetary Fund Country Reports The latest Country Reports span the time period from Aug. 21-28, 2007 (No. 07/290-07/294).



Statistics Canada/Statistique Canada Report,The Daily Article:

A. "Long-term Productivity Growth in Canada and the United States" (Research Paper, August 2007, HTML and .pdf format, 19p.).

B. "Farm cash receipts: First half of 2007" (The Daily, Aug. 27, 2007).



Statistical Service Reports:

A. "Cyprus External Trade Statistics: 2006" (Vol. I--Imports/Arrivals by commodity and country (Sections I-IX); Vol. II: Imports/Arrivals by commodity and country (Sections X-XV); Vol. III: Imports/Arrivals by commodity and country (Sections XVI-XXI); Vol. IV: Exports/Dispatches by commodity and country) (August 2007, all are .pdf format).

Click on PDF icon to the left of titles. It may be necessary to download the reports if they do not resolve in the browser.

B. "Statistical Codes of Economic Activities: 2008" (August 2007, .pdf format, 68p.).

C. "Labour Force Survey: 2006" (August 2007, .pdf format, 252p.). The report is in Greek and English.

Note the "category" directions at the bottom of the page, and then click on "Publications" and follow the category directions for link to full text. It may be necessary to download the report if it does not resolve in the browser.



Statistics Denmark News Release, StatBank Denmark Update:

A. "The activity of finance companies" (Aug. 24, 2007).

B. "INDV1: Full-time employees by bopælsområde, unit, ancestry, age, sex and years in Denmark" (August 2007).



Statistics Estonia News Release: "Long-term unemployment in Estonia is lower than on average in the European Union" (Aug. 23, 2007, HTML, .pdf, and Microsoft Word format, 2p.).



National Statistics Office Report: "Economic Accounts for Agriculture: 2006: Agriculture & Fisheries" (August 2007, .pdf format, 7p.).



Statistics Netherlands Web Magazine Article, Economic Monitors:

A. "Fewer personal bankruptcies," by Rudolf Timmermans and Karin van der Ven (Web Magazine, Aug. 21, 2007).

B. "Manufacturers remain optimistic" (Economic Monitor, Aug. 24, 2007).

C. "Dutch consumer remains optimistic" (Economic Monitor, Aug. 24, 2007).



Statistics Norway News Releases:

A. "Sample survey of agriculture and forestry. Preliminary figures, 2006: Decline in energy consumption" (Aug. 23, 2007). The news release links to two topical tables.

B. "Fish farming 2006. Preliminary figures: Another all-time high for salmon" (Aug. 23, 2007). The news release links to four topical tables.

C. "Rail transport statistics, 2006: Increasing transport work" (Aug. 27, 2007). The news release links to four topical tables.



National Institute of Statistics Periodical: International Trade Statistical Bulletin (No. 5, August 2007, .pdf format, 120p.).

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Federal Reserve Bank of St. Louis (Missouri) Periodical: Monetary Trends (September 2007, .pdf format, 20p.).


Urban Institute Report: "Stabilizing Future Fiscal Policy: It's Time to Pull the Trigger," by Rudolph G. Penner, C. Eugene Steuerle (August 2007, .pdf format, 32p.).


National Academy of Social Insurance Report: "Workers' Compensation: Benefits, Coverage, and Costs, 2005," by Ishita Sengupta, Virginia Reno, and John F. Burton, Jr. (August 2007, .pdf format, 84p.).

More information on NASI:

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Federal Reserve Banks:

Federal Reserve Board Finance and Economic Discussion Series: "Transaction Costs and Consumption," by Geng Li (Working Paper No. 2007-38, May 2007, .pdf format, 44p.). Links to an abstract and full text are available at

Federal Reserve Bank of Atlanta [Georgia]:

A. "Cigarette Smoking and Food Insecurity among Low-Income Families in the United States, 2001," by Brian S. Armour, M. Melinda Pitts, and Chung-won Lee (Working Paper 2007-19, August 2007, .pdf format, 18p.). Links to an abstract and full text are available at

B. "What Determines the Output Drop after an Energy Price Increase: Household or Firm Energy Share?" by Rajeev Dhawan and Karsten Jeske (Working Paper 2007-20, August 2007, .pdf format, 12p.). Links to an abstract and full text are available at

Federal Reserve Bank of Chicago [Illinois]: "Estate Taxation, Entrepreneurship, and Wealth," by Marco Cagetti and Mariacristina De Nardi (WP-2007-08, August 2007, .pdf format, 46p.). Links to an abstract and full text are available at

Federal Reserve Bank of New York: "How Do Treasury Dealers Manage Their Positions?" by Michael J. Fleming and Joshua V. Rosenberg (Staff Report 299, August 2007, .pdf format, 41p.). Links to an abstract and full text are available at

Federal Reserve Bank of St. Louis [Missouri]: "Managing International Portfolios with Small Capitalization Stocks," by Massimo Guidolin, and Giovanna Nicodano (Working Paper 2007-30A, August 2007, .pdf format, 45p.). Links to an abstract and full text are available at

Federal Reserve Bank of Richmond [Virginia]: "Notes on the Inflation Dynamics of the New Keynesian Phillips Curve," by Andreas Hornstein (Working Paper 07-4, August 2007, .pdf format, 14p.). Links to an abstract and full text are available at

Federal Reserve Bank of San Francisco [California]: "Do Countries Default in 'Bad Times'?" by Michael Tomz and Mark L. J. Wrigh (Working Paper No. 2007-17, May 2007, .pdf format, 50p.).


This paper uses a new dataset to study the relationship between economic output and sovereign default for the period 1820-2004. We find a negative but surprisingly weak relationship between output and default. Throughout history, countries have indeed defaulted during bad times (when output was relatively low), but they have also maintained debt service in the face of severe adverse shocks, and they have defaulted when domestic economic conditions were favorable. We show that this constitutes a puzzle for standard theories, which predict a much tighter negative relationship as default provides partial insurance against declines in output.


US Department of Housing and Urban Development Housing Finance Working Papers:

A. "Goal Performance and Characteristics of Mortgages Purchased by Fannie Mae and Freddie Mac, 2001-2005," by Paul B. Manchester (HF-017, May 2007, .pdf format, 90p.). Links to an abstract and full text are available at:

B. "The GSEs' (Government Sponsored Enterprises)Funding of Affordable Loans: A 2004-05 Update," by Harold L. Bunce (HF-018, June 2007, .pdf format, 25p.). Links to an abstract and full text are available at:


National Bureau of Economic Research: NBER has released the following working papers for the week of Aug. 13-20, 2007:

Latest papers are: 13311-13357


United Nations Department of Economic and Social Affairs: "Governance, Economic Growth and Development since the 1960s," by Mushtaq H. Khan (DESA Working Paper No. 54, August 2007, .pdf format, 22p.).


Liberal economists have developed a framework of good governance as market-enhancing governance, focusing on governance capabilities that reduce transaction costs and enable markets to work more efficiently. In contrast, heterodox economists have stressed the role of growth-enhancing governance, which focuses on governance capacities to overcome entrenched market failures in allocating assets, acquiring productivity-enhancing technologies and maintaining political stability in contexts of rapid social transformation. The two are not necessarily mutually exclusive, but current policy exclusively focuses on the former, and ignores the strong empirical and historical evidence supporting the latter to the detriment of the growth prospects of poor countries.


Institute for Social and Economic Research (ISER) [University of Essex, Colchester, UK]:

A. "State Dependence, Duration Dependence and Unobserved Heterogeneity in the Employment Transitions of the over-50s," by Lorenzo Cappellari, Richard Dorsett, and Getinet Haile (Working Paper No. 2007-16, July 2007,.pdf format, 41p.).


This paper examines employment transitions among men and women in the UK aged between 50 and the state pension age. We begin by examining the issue of duration dependence, using standard duration models. We then use a fourth order Markov model to estimate quarterly transitions while allowing for potential endogeneity of initial conditions. The results reject exogeneity of initial conditions and show the importance of both duration dependence and state dependence. This implies there is the potential for any individual to become trapped in non-employment and, ideally, policy should intervene as soon as an individual begins a period of non-employment.

B. "Job Competition Amongst University Graduates," by Simonetta Longhi and Malcolm Brynin (Working Paper No. 2007-18, August 2007,.pdf format, 17p.).


We test whether in Great Britain the recent increase in the supply of university graduates has a negative impact on their wages, and analyse to what extent the local labour market for graduates should be seen as regional rather than national. We do this by computing two measures of job competition amongst graduates: the first assumes that the labour market for graduates is regional, while the second assumes that it is national. We then compare the two estimated wage impacts. We find that job competition amongst graduates has a negative impact on graduate wages, that the labour market for graduates appears to be regional, and that a large part of the regional imbalance between labour supply and demand is corrected by commuting rather than migration. Also, the wage impact of job competition seems to differ by gender and across groups of occupations.


International Monetary Fund: IMF has recently added new working papers. The papers are Nos. 204-206.


World Bank Development Programme: WDP has recently released several new working papers. See the list at:

New Papers are: 4327-4335

and click on "More" for the rest.


Institute for the Study of Labor (IZA) [University of Bonn, Germany]: IZA has recently released several new working papers.

The new working papers are: 2990-3010


Center for Economic Studies/Ifo Institute for Economic Research (CESifo) [Munich, Bavaria, Germany]: CESifo has recently released one new working paper:

and "Browse Working Paper List" for 2007.

The new paper is numbered 2087


New Economic Papers (NEP)-ALL. The latest list of New Economic Papers (Aug. 18, 2007) is available at:


AgEcon Search: This week's new working papers from AgEcon Search at the University of Minnesota are available at:

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

Economics Letters (Vol. 97, No. 1, October 2007).

European Economic Review (Vol. 51, No. 6, August 2007).

Journal of Development Economics (Vol. 84, No. 2, November 2007).

Journal of Economic Literature (Vol. 45, No. 3, September 2007). Note: Full text of this journal is available in the ProQuest Research Library. Check your library for availability of this database and issue.

Journal of Economic Theory (Vol. 136, No. 1, September 2007).

Journal of the Royal Statistical Society (Series B, Vol. 69, Part 4, 2007).

Scroll to "Series B"

Journal of Urban Economics (Vol. 62, No. 2, September 2007).

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US Department of Agriculture, Economic Research Service:

A. "Wheat Data, Yearbook Tables (August 2007, Microsoft Excel and .pdf format).

B. "Price Spreads from Farm to Consumer" (August 2007, Microsoft Excel format).


Luxembourg Income Study: On August 20, 2007, the LIS project release new Self-Teaching packages (SAS, SPSS and Stata format). For more information see:

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