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Hernández-Murillo, Rubén

Works: 10 works in 16 publications in 1 language and 20 library holdings
Roles: Author
Classifications: HB1,
Publication Timeline
Publications about Rubén Hernández-Murillo
Publications by Rubén Hernández-Murillo
Most widely held works by Rubén Hernández-Murillo
Patent licensing revisited : heterogeneous firms and product differentiation by Rubén Hernández-Murillo( Book )
3 editions published between 2002 and 2003 in English and held by 4 libraries worldwide
"In this paper we study the optimal licensing agreement between a patentholder of a costreducing innovation and firms that have heterogeneous uses for the new technology. We consider the case in which these firms are competitors in a downstream market. We extend the competition environment among the licensees beyond the Cournot/Bertrand models considered by the previous literature to a framework with differentiated products. We also assume that potential licensees have private information about the usefulness of the new technology. We characterize two purposes the optimal licensing contract serves to the patentholder: separation of the licensees and competition softening in the downstream market. We also describe how the optimal contract changes with the degree of product differentiation"--Federal Reserve Bank of St. Louis web site
Spatial probit and the geographic patterns of state lotteries by Cletus C Coughlin( Book )
2 editions published in 2003 in English and held by 3 libraries worldwide
"We implement a spatial probit model to differentiate states with a lottery from those without a lottery. Our analysis extends the basic spatial probit model by allowing spatial dependence to vary across geographic regions. We also separate the spatial effects of neighbors versus non-neighbors. The methodology provides consistent and efficient coefficient estimation in light of the simultaneity in spatial dependence. We find evidence of spatial dependence and spatial heterogeneity in lottery usage, and we find that spatial patterns differ significantly by geographic region. The importance of spatial dependence in state lottery usage suggests the need to consider spatial effects in empirical models examining the use of any policy tool by subnational governmental units"--Federal Reserve Bank of St. Louis web site
Nonlinear hedonics and the search for school district quality by Abbigail J Chiodo( Book )
2 editions published in 2003 in English and held by 3 libraries worldwide
"It is difficult to determining the value of better schools as it relates to children's outcomes; school value is often inferred from the increased money a parent has to pay to buy a house associated with a better school. However, isolating this effect is often difficult because better schools also tend to be located in nicer neighborhoods. Although recent work has been relatively successful at isolating this affect, this work has been limited in that it assumes a linear effect of schools on housing prices. In this paper, we examine this relationship, allowing for nonlinear effects and find that the premium for schools is nonlinear: There is no penalty for houses in worse-than average school districts but a strong premium for houses in better school districts. Our results suggest that previous studies have undervalued parents' willingness to pay for high-quality public schools, perhaps a side-effect of underestimating the degree of heterogeneity in parental preferences"--Federal Reserve Bank of St. Louis web site
The diffusion of electronic business in the U.S. by Emin M Dinlersoz( Book )
2 editions published in 2004 in English and held by 2 libraries worldwide
"We provide a recent account of the diffusion of electronic business in the U.S. economy using new data from the U.S. Bureau of the Census. We document the extent of the diffusion in three main sectors of the economy: retail, services, and manufacturing. For manufacturing, we also analyze plants' patterns of adoption of several Internet-based processes. We conclude with a look at the future of the Internet's diffusion and a prospect for further data collection by the U.S. Census Bureau"--Federal Reserve Bank of St. Louis web site
Tax competition and tax harmonization with evasion by Néstor Gandelman( Book )
1 edition published in 2002 in English and held by 2 libraries worldwide
The information content of regional employment data for forecasting aggregate conditions by Rubén Hernández-Murillo( Book )
2 editions published in 2004 in English and held by 2 libraries worldwide
"We consider whether disaggregated data enhances the efficiency of aggregate employment forecasts. We find that incorporating spatial interaction into a disaggregated forecasting model lowers the out-of-sample mean-squared-error from a univariate aggregate model by 70 percent at a two-year horizon"--Federal Reserve Bank of St. Louis web site
Spatial dependence in models of state fiscal policy convergence by Cletus C Coughlin( file )
1 edition published in 2006 in English and held by 1 library worldwide
"We apply spatial econometric techniques to models of state and local fiscal policy convergence. Total tax revenue and expenditures, as well as broad tax and expenditure categories, of state and local governments in each of the 48 contiguous U.S. states are examined. We extend work by Scully (1991) and Annala (2003) in much the same way that Rey and Montouri (1999) extended the literature dealing with income convergence among U.S. states. Our results indicate that most fiscal policies have been converging and exhibit spatial dependence. A more specific interpretation of our general spatial results is that the finding of spatial dependence indicates that the growth paths of state and local fiscal policies are not independent. In addition, we find that total expenditures have been converging faster than output, whereas total tax revenues have been converging slower that output. Our models further demonstrate that state expenditure growth is dependent upon expenditure growth in economically and demographically similar states, while output growth and revenue growth in a state are dependent on output growth and revenue growth, respectively, in contiguous states"--Federal Reserve Bank of St. Louis web site
Does consumer sentiment predict regional consumption? by Thomas A Garrett( file )
1 edition published in 2003 in English and held by 1 library worldwide
"This paper tests the ability of consumer sentiment to predict retail spending at the state level. The results here suggest that, although there is a significant relationship between sentiment measures and retail sales growth in several states, consumer sentiment exhibits only modest predictive power for future changes of retail spending. Measures of consumer sentiment, however, contain additional explanatory power aside from the information available in other indicators. We also find that by restricting our attention to fluctuations in retail sales that occur at the business cycle frequency we can uncover a significant relationship between consumer sentiment and retail sales growth in many additional states. In light of these results, we conclude that the practical value of sentiment indices to forecast consumer spending at the state level is, at best, limited"--Federal Reserve Bank of St. Louis web site
Strategic online-banking adoption by Roberto Fuentes( file )
1 edition published in 2006 in English and held by 1 library worldwide
"In this paper we study the determinants of the decision of U.S. banks to create a transactional website for their customers. We show that although bank-specific characteristics (such as the volume of deposits) are important, competition plays a prominent role. In more competitive markets banks are more likely to adopt earlier. Even more important, banks adopt earlier in markets where their competitors have already adopted. A contribution of this paper is to study the adoption decision over time using a panel of commercial banks. We also contribute to the literature by adapting a measure of competition related to the choices of competitors that a bank faces in each market"--Federal Reserve Bank of St. Louis web site
Racial profiling or racist policing? : bounds tests in aggregate data by Rubén Hernández-Murillo( Book )
1 edition published in 2004 in English and held by 1 library worldwide
Alternative Names
Murillo, Rubén Hernández-
English (16)
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