Current Social Science Research Report--Economics #66, June 3, 2008.

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. Bureau Of Labor Statistics Reports, Periodical:

A. "National Compensation Survey: Retirement Benefits in State and Local Governments in the United States, 2007," (Summary 08-03, May 2008, .pdf format, 63p.).

B. "Occupational Employment and Wages, 2006," (Bulletin 2702, May 2008, .pdf format, 50p.).

C. Monthly Labor Review (Vol. 131, No. 5, May 2008, .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:

2. Department of Housing and Urban Development Periodical: Research Works (Vol. 5, No. 5, May 2008, HTML and .pdf format, 8p.).

3. Congressional Research Service Report: "Statutory Individual Income Tax Rates and Other Elements of the Tax System: 1988 through 2008," by Maxim Shvedov (RL34498, May 2008, .pdf format, 41p.).

4. Department of the Treasury Periodical: Treasury Bulletin (June 2008, .pdf and Word format, 106p.).

5. Department of Agriculture, Economic Research Service Report:

A. "Economic Impacts of Foreign Animal Disease," by Philip L. Paarlberg, Ann Hillberg Seitzinger, John G. Lee, and Kenneth H. Mathews, Jr. (Economic Research Report No. (ERR-57), May 2008, .pdf format, 80p.).

B. "The Food Assistance Landscape: FY 2007 Annual Report," by Victor Oliveira (Economic Information Bulletin No. EIB-6-5, May 2008, .pdf format, 6p.).

6. US Government Economic Releases from the National Bureau of Economic Research: Links to releases for May 27-Jun. 3, 2008 are available at the site.

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US States:


Labor and Workforce Development Periodical: Alaska Economic Trends (June 2008, .pdf format, 18p.). The topic of this issue is "Skagway."


Department of Business, Economic Development, and Tourism Report: "Monthly Economic Indicators: April 2008" (June 2008, .pdf format, 5p., with data in Microsoft Excel format).


State Data Center Updates: SDC added the following data on May 30, 2008 (.pdf and Microsoft Excel format): State of Iowa: "State and local government finances by level of government: 2001-2006."

See May 30, 2008 item.


Department of Labor Report: "2004-2014 Kansas Occupational Outlook" (June 2008, HTML, .pdf, or Microsoft Excel format).


State Data Center Report: "2006 Annual Jobs and Income Data for Maryland's Jurisdictions" (June 2008, .pdf or Microsoft Excel format).

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NGOs and Other Countries

European Commission:

Eurostat Periodical: Statistics in Focus. The latest issues (8/47, 8/52-8/53, .pdf format) are now available at the SIF website:,1136118&_dad=portal&_schema=PORTAL


International Monetary Fund Periodical, Country Reports:

A. Finance and Development (Vol. 45, No. 2, June 2008, HTML and .pdf format).

B. The latest Country Reports (.pdf format) span the time period from May 29-Jun. 3, 2008 (No. 08/170-08/174):



Institute of Statistics News Release: "Balance Of Electric Year 2007" (Jun. 3, 2008). The news release links to a topical table (Microsoft Excel format) in Albanian and English.

Click on the "English" on the left side of the page. Then scroll to "Balance of Electric Power" under "Latest News."



Statistics Canada/Statistique Canada Reports, Periodical:

A. "Wholesale Trade: The Year 2007 in Review," by Karim El Hassani (May 2008, HTML and .pdf format, 16p.).

B. "Cities and Growth: In Situ versus Migratory Human Capital Growth," by Desmond Beckstead, W. Mark Brown and K. Bruce Newbold (The Canadian Economy in Transition Research Paper, June 2008, .pdf format, 38p.).

C. "Report on Energy Supply-demand in Canada" (June 2008, .pdf format, 127p.).

D. "Real Estate Agents, Brokers, Appraisers and Other Real Estate Activities: 2006" (June 2008, HTML and .pdf format, 6p.).

E. Canadian Economic Accounts Quarterly Review: First quarter 2008" (May 2008, .pdf format, 47p.).

F. Science Statistics (Vol. 32, No. 2, June 2008, HTML and .pdf format). The topic of this issue is: "Biotechnology Scientific Activities in Federal Government Departments and Agencies, 2006/2007."



Statistics Finland News Releases:

A. "Public sector environmental protection expenditure peaked in 2006" (May 28, 2008). The news release links to two topical tables.

B. "Road Freight Transport 2007" (May 30, 2008).



Federal Statistics Office News Release "2007: Public debt per inhabitant averaging EUR 18,880" (Jun. 2, 2008). The news release links to a more detailed German news release with a topical table.,templateId=renderPrint.psml



Statistics Latvia News Release: Note: if the news release is in Latvian, click on the "EN" tab at the top of the page for an English version. "Results of farm structure survey 2007" (Jun. 2, 2008).



Statistics Department Periodical: Economic and Social Development in Lithuania: April 2008 (June 2008, .pdf format, 187p.). The periodical is in Lithuanian and English.



Statistical and Census Service Periodical: Principal Statistical Indicators of Macao: 1st Quarter 2008 (May 2008, .pdf and Microsoft Excel format, 8p.).



Statistics Netherlands Web Magazine Articles:

A. "Number of dismissal permits due to disability drops dramatically," by Arno Sprangers (May 29, 2008).

B. "In the space of 40 years, VAT has become the most important tax," by Bram de Boo (Jun. 3, 2008).



Statistics Norway News Releases:

A. "Energy use by municipality. 2005 and 2006" (May 28, 2008). The news release links to six topical tables.

B. "Foreign-controlled enterprises’ activity in Norway, structural statistics, 2000-2004" (May 28, 2008). The news release links to four topical tables.

C. "Central government fiscal account, revenues and expenditures, 2007" (May 28, 2008).

D. "Economic trends for Norway and abroad" (May 29, 2008).

E. "Electricity statistics, 2006" (May 30, 2008). The news release links to 35 topical tables).



Statistical Office News Releases:

A. "Marine fishing--persons in employment, fishing vessels and gear, Slovenia, 2007" (May 30, 2008).

B. "Registered road motor vehicles and trailers, Slovenia 2007" (May 30, 2008).

C. "Organic farming, Slovenia, 2006" (May 29, 2008).



Statistics Sweden Press Releases:

A. "Public Finances in Sweden 2008" (Jun. 2, 2008).

B. "Structural Business Statistics 2006" (Jun. 2, 2008).

C. "National and regional figures from Structural Business Statistics 2006" (Jun. 2, 2008).

D. "Income statistics - based on administrative register: Here is how it went for those 70,000 students who graduated in 2001" (Jun. 3, 2008).



1. Department for Business, Enterprise, & Regulatory Reform Report: "Energy Trends and Prices" (May 2008, Microsoft Excel format).

2. Communities and Local Government Report: "Land Use Change Statistics (England) 2007 - provisional estimates" (May 2008, .pdf and Microsoft Excel format, 11p.),

3. National Statistics Office Periodical Data, News Release:

A. Economic & Labour Market Review - June 2008 Edition. Data tables for the June edition (Microsoft Excel format) are now available.

B. "Greenhouse gas emissions fall in 2006: Environmental Accounts Spring 2008" (Jun. 3, 2008, .pdf format, 11p.).

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Federal Reserve Bank of St. Louis (Missouri) Periodicals:

A. Review (Vol. 90, No. 3, Pt. 2, May/June 2008, .pdf format).

B. National Economic Trends (June 2008, .pdf format, 27p.).


Century Foundation Reports:

A. "Poor Excuses: How Neglecting Poverty Costs All Americans," by Martha Paskoff Welsh and Libby Perl (May 2008, .pdf format, 12p.).

B. "Going Nowhere: Workers' Wages Since the Mid-1970s," by Bernard Wasow (May 2008, .pdf format, 12p.).


Urban Institute Reports:

A. "Understanding the Demand Side of the Low-Wage Labor Market," by Gregory Acs and Pamela J. Loprest (April 2008, .pdf format, 110p.).

B. "Children's Savings Accounts: Why Design Matters," by Barbara Butrica, Adam Carasso, C. Eugene Steuerle, and Desmond Toohey (May 2008, .pdf format, 19p.).

C. "Do Welfare and IDA Program Policies Affect Asset Holdings?" by Signe-Mary McKernan, Caroline Ratcliffe, Yunju Nam (May 2008, .pdf format, 7p.).

D. "Portraits of the Assets and Liabilities of Low-Income Families," by Adam Carasso and Signe-Mary McKernan (May 2008, .pdf format, 7p.).

E. "Unemployment and Unemployment Protection in Transition," by Vera Brusentsev and Wayne Vroman (April 2008, .pdf format, 32p.).


AARP Report: "The Economic Slowdown's Impact on Middle-Aged and Older Americans," by Jeffrey Love (May 2008, .pdf format, 81p.).


Economic Policy Institute Briefing Paper: "The Rising Instability of American Family Incomes, 1969-2004: Evidence from the Panel Study of Income Dynamics," by Jacob S. Hacker and Elisabeth Jacobs (EPI Briefing Paper No. 213, May 2008, .pdf format, 36p.).

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World Institute for Development Economics Research (United Nations University):

A. "China and the Future of the Developing World: The Coming Global-Asian Era and its Consequences," by Jeffrey Henderson (WIDER Research Paper 2008/58, May 2008, .pdf format, 21p.). Links to an abstract and full text are available at:

B. "China’s Development Strategy and Energy Security: Growth, Distribution and Regional Cooperation," by Haider A. Khan (WIDER Research Paper 2008/56, May 2008, .pdf format, 25p.). Links to an abstract and full text are available at:

C. "Beyond Industrialization: New Approaches to Development Strategy Based on the Service Sector," by Peter Sheehan (WIDER Research Paper 2008/60, May 2008, .pdf format, 18p.). Links to an abstract and full text are available at:


Federal Reserve:

Federal Reserve Board: "Term Premiums and Inflation Uncertainty: Empirical Evidence from an International Panel Dataset," by Jonathan H. Wright (Working Paper No. 2008-25, May 2008, .pdf format, 47p.). Links to an abstract and full text are available at:

Federal Reserve Bank of Boston [Massachusetts]:

A. "Credit Card Debt and Payment Use," by Charles Sprenger and Joanna Stavins (Working Paper 08-2, May 2008, .pdf format, 29p.). Links to an abstract and full text are available at:

B. "Negative Equity and Foreclosure: Theory and Evidence," by Christopher L. Foote, Kristopher Gerardi, and Paul S. Willen (Public Policy Discussion Paper No. 08-3, May 2008, .pdf format, 37p.). Links to an abstract and full text are available at:

C. "Subprime Facts: What (We Think) We Know about the Subprime Crisis and What We Don’t," by Christopher L. Foote, Kristopher Gerardi, Lorenz Goette, and Paul S. Willen (Public Policy Discussion Paper No. 08-2, May 2008, .pdf format, 56p.). Links to an abstract and full text are available at:

D. "The Lengthening of Childhood," by David Deming and Susan Dynarski (New England Public Policy Center Working Paper No. 08-3, May 2008, .pdf format, p.). Links to an abstract and full text are available at:

Federal Reserve Bank of Dallas [Texas]: "On the Effectiveness of the Federal Reserve's New Liquidity Facilities," by Tao Wu (Working Paper No. 0808, May 2008, .pdf format, 30p.).


This paper examines the effectiveness of the new liquidity facilities that the Federal Reserve established in response to the recent financial crisis. I develop a noarbitrage based affine term structure model with default risk and conduct a thorough factor analysis of the counterparty default risk among major financial institutions and the underlying mortgage default risk. The new facilities’ effectiveness is examined, by first separately examining their effects in relieving financial institutions’ liquidity concerns and reducing the counterparty risk premiums, and then quantifying their overall effects in reducing financial strains in the inter-bank money market.

Empirical results indicate that the Term Auction Facility (TAF) has a strong effect in reducing financial strains in the inter-bank money market, primarily through relieving financial institutions’ liquidity concerns. Heightened uncertainty regarding the macroeconomy, financial markets, and mortgage default risk have significantly raised counterparty risk premiums among financial institutions, but have had little effect on their liquidity premiums. The Term Securities Lending Facility (TSLF) and the Primary Dealer Credit Facility (PDCF), however, are found to have had less discernible effects so far in relieving financial strains in the Libor market. This is consistent with market observations of a weaker interest from primary dealers in participating in the TSLF auctions than banks have shown in tapping the TAF.


U.S. Department of Commerce, Bureau of Economic Analysis: "Domestic Outsourcing and Imported Inputs in the U.S. Economy: Insights from Integrated Economic Accounts," by Robert E. Yuskavage, Erich H. Strassner, and Gabriel W. Medeiros (May 2008, .pdf format, 47p.). Note: There is no abstract for this paper.


National Bureau of Economic Research: NBER has released the following working papers for the week of May 25-29, 2008:

New papers are: 14030-14049


International Monetary Fund: IMF has added the following working paper. The papers are Nos. 08/136-08/138.


World Bank Policy Research Programme: PRP has recently released several new working papers. See the list at:

New papers are: 4638-4643


Bank of Canada/Banque Du Canada: "Policy Coordination in an International Payment System," by James T. E. Chapman (Working Paper No. 2008-17, May 2008, .pdf format, 29p.). Links to an abstract and full text are available at:


Bank of Denmark: "Labour market asymmetries in a monetary union," by Torben M. Andersen and Martin Seneca (WP 53/2008, May 2008, .pdf format, 31p.). Links to an abstract and full text are available at:!opendocument


Deutsche Bundesbank: "Interaction of market and credit risk: an analysis of inter-risk correlation and risk aggregation," by Klaus Böcker and Martin Hillebrand (Banking and Financial Studies No. 11/2008, 2008, .pdf format, 37p.).


In this paper we investigate the interaction between a credit portfolio and another risk type, which can be thought of as market risk. Combining Merton-like factor models for credit risk with linear factor models for market risk, we analytically calculate their interrisk correlation and show how inter-risk correlation bounds can be derived. Moreover, we elaborate how our model naturally leads to a Gaussian copula approach for describing dependence between both risk types. In particular, we suggest estimators for the correlation parameter of the Gaussian copula that can be used for general credit portfolios. Finally, we use our findings to calculate aggregated risk capital of a sample portfolio both by numerical and analytical techniques.


Bank of England: The Bank has recently released several new working papers.

New papers are: 349 and 350.


Swiss National Bank: "Cost Pass Through in a Competitive Model of Pricing-to-Market," by Raphael Auer and Thomas Chaney (Working Paper No. 2008-06, May 2008, .pdf format, 36p.).


This paper builds up an extension to the Mussa and Rosen (1978) model of quality pricing under perfect competition. Our model incorporates decreasing returns to scale. First, we predict that exchange rate shocks are imperfectly passed through into prices. Second, prices of low quality goods are more sensitive to exchange rate shocks than prices of high quality goods. Third, in response to an exchange rate appreciation, the composition of exports shifts towards higher quality and more expensive goods. We test those predictions using highly disaggregated price and quantity US import data. We find that the prices of high quality goods, proxied as high unit price goods, are more sensitive to exchange rate movements. Moreover, we find evidence that in response to an exchange rate appreciation, the composition of exports shifts towards high unit price goods.


Bank of Uganda: "Impact of Financial Sector Reforms on Financial Depth in East Africa Community Countries," by Dr. David Kihangire (BOUWP/15/08, May 2008, .pdf format, 51p.).


This study examines the field of operations of financial sector reforms among the East African Community Countries, as well as the CEPGL countries. It also identifies the main challenges and constraints against which recommendations are made for policy attention. To address these objectives, we collected data on a wide range of financial sector indicators, including the World Bank Development Indicators, the IMF’s IFS. On the basis of this data, we constructed and analyzed data on several indices underlying financial sector reforms encompassing six themes: development of the monetary sector and monetary policy, banking sector development, nonbank financial development, regulation and supervision, financial openness, and institutional quality. The results of the study reveal that (a) there have been substantial progress towards undertaking financial sector reforms in all the countries under study; (b) Most countries have achieved a high degree of financial deepening in line with financial sector reforms; (c) impact of reforms differ across and within countries; and (d) further reforms are needed to develop and deepen the financial sector in both EAC and CEPGL member countries.


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

The new working papers are: 3506-3525.


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

A. "Multiple Sample Selection in the Estimation of Intergenerational Occupational Mobility," by Cheti Nicoletti (ISER WP 2008-20, May 2008, .pdf format, 40p.).


The estimation of occupational mobility across generations can be biased because of different sample selection issues as, for example, selection into employment. Most empirical papers have either neglected sample selection issues or adopted Heckman-type correction methods. These methods are generally not adequate to estimate intergenerational mobility models. In this paper, we show how to use new methods to estimate linear and quantile intergenerational mobility equations taking account of multiple sample selection.

B. "Unemployment and partnership dissolution," by Morten Blekesaun (ISER WP 2008-21, May 2008, .pdf format, 17p.).


Does unemployment increase the risk of partnership dissolution? This is investigated for 3,586 marital partnerships (marriages or cohabitations) in 15 waves of the British Household Panel Survey. Both short and long term effects are investigated using discrete time hazard regression models. Results indicate that any form of unemployment predicts partnership dissolution. The effect is similar when unemployment hits either a man or a woman. The effect of male unemployment is to a considerable degree mediated by low financial satisfaction among their partners. We find no indications that the unemployment effect can be explained by unobserved heterogeneity.


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

and "Browse Working Paper List" for 2008.

The new papers are numbered 2311-2317.


New Economic Papers (NEP)-ALL. The latest list of New Economic Papers (May 24, 2008).


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):

Economic Journal (Vol. 118, No. 529, June 2008).

European Economic Review (Vol. 52, No. 5, July 2008).

Journal of Urban Economics (Vol. 64, No. 1, July 2008).

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American Economics Association: Job Openings for Economists (June 2008).


Chronicle of Higher Education:

Economic positions has been updated through Jun. 2, 2008.


American Statistical Association: ASA has updated its employment page with listings through Jun. 3, 2008.

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Inter-University Consortium for Political and Social Research: ICPSR at he University of Michigan released several new datasets as of June 1, 2008, which may be of interest to Economics researchers. Note: Some ICPSR studies are available only to ICPSR member institutions. To find out whether your organization is a member, and whether or not it supports ICPSR Direct downloading, see:

New and updated data:

All new and updated data in the last 90 days can be found at:


UK Data Archive (Essex University, Colchester, UK): The UK Data Archive has recently added the following datasets to its holdings. Note: There maybe charges or licensing requirements on holdings of the UK Data Archive. For more information see:

SN 5210 -Expenditure and Food Survey, 2003-2004

SN 5375 -Expenditure and Food Survey, 2004-2005

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