http://www.bis.org/cbhub/list/author/author_7272/index.rss Research hub papers by author Cletus C. Coughlin en http://research.stlouisfed.org/wp/2014/2014-050.pdf St Louis Fed Working Papers by Jeffrey P. Cohen, Cletus C. Coughlin, and John M. Clapp Semi-Parametric Interpolations of Residential Location Values: Using Housing Price Data to Generate Balanced Panels 2014-12-13T06:19:59Z We estimate location values for single family houses by local polynomial regressions (LPR), a semi-parametric procedure, using a standard housing price and characteristics dataset. As a logical extension of the LPR method, we interpolate land values for every property in every year and validate the accuracy of the interpolated estimates with an out-of-sample forecasting approach using Denver sales during 2003 through 2010. We also compare the LPR and OLS models out-of-sample and determine that the LPR model is more efficient at predicting location values. In a balanced panel application, we use GMM estimation to examine how the location value estimates are affected by airport infrastructure investments. Semi-Parametric Interpolations of Residential Location Values: Using Housing Price Data to Generate Balanced Panels 2014-12-13T06:19:59Z Abstract http://research.stlouisfed.org/wp/more/2014-050 Full text http://research.stlouisfed.org/wp/more/2014-050/ Cletus C. Coughlin John M. Clapp Jeffrey P. Cohen Jeffrey P. Cohen, Cletus C. Coughlin, and John M. Clapp 2014-12 St Louis Fed Working Papers C14 H41 H54 R51 R53 http://research.stlouisfed.org/wp/more/2014-050/ St Louis Fed Working Papers by Jeffrey P. Cohen, Cletus C. Coughlin and John M. Clapp Semi-Parametric Interpolations of Residential Location Values: Using Housing Price Data to Generate Balanced Panels 2014-12-13T06:19:59Z We estimate location values for single family houses by local polynomial regressions (LPR), a semi-parametric procedure, using a standard housing price and characteristics dataset. As a logical extension of the LPR method, we interpolate land values for every property in every year and validate the accuracy of the interpolated estimates with an out-of-sample forecasting approach using Denver sales during 2003 through 2010. We also compare the LPR and OLS models out-of-sample and determine that the LPR model is more efficient at predicting location values. In a balanced panel application, we use GMM estimation to examine how the location value estimates are affected by airport infrastructure investments. Semi-Parametric Interpolations of Residential Location Values: Using Housing Price Data to Generate Balanced Panels 2014-12-13T06:19:59Z Abstract http://research.stlouisfed.org/wp/more/2014-050 Full text http://research.stlouisfed.org/wp/2014/2014-050.pdf Cletus C. Coughlin John M. Clapp Jeffrey P. Cohen Jeffrey P. Cohen, Cletus C. Coughlin and John M. Clapp 2014-12 St Louis Fed Working Papers C14 H41 H54 R51 R53 http://research.stlouisfed.org/wp/more/2014-006/ St Louis Fed Working Papers by Cletus C. Coughlin Determinants of Trade Margins: Insights Using State Export Data 2014-02-28T06:19:59Z This paper identifies determinants of extensive (i.e., number of firms) and intensive (i.e., average exports per firm) trade margins, using state-level exports to 187 countries. A standard negative binomial count model is used to handle the issues of non-trading pairs and overdispersion in the extensive trade estimations. In addition to the standard gravity variables of distance and destination-country size, other factors affecting trade costs and export demand are explored. Following directly from a trade model based on heterogeneous firms, these other factors exhibit more consistent and statistically significant effects on the extensive than on the intensive trade margin. One noteworthy finding is that U.S. foreign direct investment has a positive effect on both margins. Also, a given determinant may affect both margins, but not necessarily in the same way. For example, communications infrastructure in the importing country affects the extensive margin positively and the intensive margin negatively. Determinants of Trade Margins: Insights Using State Export Data 2014-02-28T06:19:59Z Abstract http://research.stlouisfed.org/wp/more/2014-006 Full text http://research.stlouisfed.org/wp/2014/2014-006.pdf Cletus C. Coughlin Cletus C. Coughlin 2014-03 St Louis Fed Working Papers F10 R10 http://research.stlouisfed.org/wp/2012/2012-002.pdf St Louis Fed Working Papers by Cletus C. Coughlin Extensive and Intensive Trade Margins: A State-by-State View 2012-01-11T06:25:59Z This paper examines a topic of increasing interest, the potential determinants of extensive (i.e., number of firms) and intensive (i.e., average exports per firm) trade margins, using state-level trade to 190 countries. In addition to distance and country size, other factors affecting trade costs and export demand are explored. In state-by-state regressions, these other factors exhibit more consistent and statistically significant effects on the extensive than on the intensive trade margin. One noteworthy finding is that U.S. foreign direct investment has a positive effect on both margins. In regressions using all state-level data simultaneously, some factors affect both margins, but not necessarily in the same way. For example, the impact of the communications infrastructure in the importing country affects the extensive margin positively and the intensive margin negatively. Finally, reasons for differences across states, such as state size and trade missions, are identified. Extensive and Intensive Trade Margins: A State-by-State View 2012-01-11T06:25:59Z Abstract http://research.stlouisfed.org/wp/more/2012-002 Full text http://research.stlouisfed.org/wp/2012/2012-002.pdf Cletus C. Coughlin Cletus C. Coughlin 2012-01 St Louis Fed Working Papers http://research.stlouisfed.org/wp/2010/2010-016.pdf St Louis Fed Working Papers by Cletus C. Coughlin, and Howard J. Wall Ethnic Networks and Trade: Intensive vs. Extensive Margins 2010-06-23T06:31:59Z Ethnic networks—as proxies for information networks—have been associated with higher levels of international trade. Previous research has not differentiated between the roles of these networks on the extensive and intensive margins. The present paper does so using a model with fixed effects, finding that ethnic networks increase trade on the intensive margin but not on the extensive margin. Ethnic Networks and Trade: Intensive vs. Extensive Margins 2010-06-23T06:31:59Z Abstract http://research.stlouisfed.org/wp/more/2010-016/ Full text http://research.stlouisfed.org/wp/2010/2010-016.pdf Howard J. Wall Cletus C. Coughlin Cletus C. Coughlin, and Howard J. Wall 2010-06 St Louis Fed Working Papers http://research.stlouisfed.org/wp/2009/2009-058.pdf St Louis Fed Working Papers by Jeffrey P. Cohen, and Cletus C. Coughlin Spatial Heterogeneity and the Geographic Distribution of Airport Noise 2009-12-16T07:16:00Z One might expect that houses closer to an airport and those in higher minority population neighborhoods experience more airport noise. We find evidence supporting these conjectures when estimating a standard ordered probit model for houses sold near the Atlanta airport. However, because the various neighborhood demographics surrounding the airport can be heterogeneous, and the noise contours are not necessarily correlated with distance in certain neighborhoods, we hypothesize that the impacts of explanatory variables on the probability of greater noise vary across space. We explore spatial heterogeneity by estimating ordered probit locally weighted regressions (OPLWR). These results differ from those using a standard ordered probit model. Moreover, we find notable differences in parameter estimates for different observations (i.e., houses). Even in relatively small areas, our results imply that the standard ordered probit model can generate biased estimates. Spatial Heterogeneity and the Geographic Distribution of Airport Noise 2009-12-16T07:16:00Z Abstract http://research.stlouisfed.org/wp/more/2009-058/ Full text http://research.stlouisfed.org/wp/2009/2009-058.pdf Jeffrey P. Cohen Cletus C. Coughlin Jeffrey P. Cohen, and Cletus C. Coughlin 2009-11 St Louis Fed Working Papers http://research.stlouisfed.org/wp/2009/2009-057.pdf St Louis Fed Working Papers by Cletus C. Coughlin, and Dennis Novy Is the International Border Effect Larger than the Domestic Border Effect? Evidence from U.S. Trade 2009-11-14T07:18:00Z Many studies have found that international borders represent large barriers to trade. But how do international borders compare to domestic border barriers? We investigate international and domestic border barriers in a unified framework. We consider a unique data set of exports from individual U.S. states to foreign countries and combine it with trade flows within and between U.S. states. After controlling for distance and country size, we find that relative to state-to-state trade, crossing an individual U.S. state’s domestic border entails a larger trade barrier than crossing the international U.S. border. This finding highlights the concentration of trade flows at the local level and the importance of factors such as informational barriers and transportation costs even for the relatively short distances associated with state-to-state trade. Is the International Border Effect Larger than the Domestic Border Effect? Evidence from U.S. Trade 2009-11-14T07:18:00Z Abstract http://research.stlouisfed.org/wp/more/2009-057/ Full text http://research.stlouisfed.org/wp/2009/2009-057.pdf Dennis Novy Cletus C. Coughlin Cletus C. Coughlin, and Dennis Novy 2009-11 St Louis Fed Working Papers http://research.stlouisfed.org/wp/2007/2007-042.pdf St Louis Fed Working Papers by Thomas A. Garrett, and Cletus C. Coughlin Inter-temporal Differences in the Income Elasticity of Demand for Lottery Tickets 2007-10-11T07:14:59Z Inter-temporal Differences in the Income Elasticity of Demand for Lottery Tickets 2007-10-11T07:14:59Z Full text http://research.stlouisfed.org/wp/2007/2007-042.pdf Thomas A. Garrett Cletus C. Coughlin Thomas A. Garrett, and Cletus C. Coughlin 2007-10 St Louis Fed Working Papers H22 H71 http://research.stlouisfed.org/wp/2006/2006-026.pdf St Louis Fed Working Papers by Jeffrey P. Cohen, and Cletus C. Coughlin Spatial Hedonic Models of Airport Noise, Proximity, and Housing Prices 2006-04-25T09:09:59Z Spatial Hedonic Models of Airport Noise, Proximity, and Housing Prices 2006-04-25T09:09:59Z Full text http://research.stlouisfed.org/wp/2006/2006-026.pdf Jeffrey P. Cohen Cletus C. Coughlin Jeffrey P. Cohen, and Cletus C. Coughlin 2006-04 St Louis Fed Working Papers http://research.stlouisfed.org/wp/2005/2005-069.pdf St Louis Fed Working Papers by Subhayu Bandyopadhyay, Cletus C. Coughlin, and Howard J. Wall Ethnic Networks and U.S. Exports 2005-11-01T07:10:00Z Ethnic Networks and U.S. Exports 2005-11-01T07:10:00Z Full text http://research.stlouisfed.org/wp/2005/2005-069.pdf Subhayu Bandyopadhyay Howard J. Wall Cletus C. Coughlin Subhayu Bandyopadhyay, Cletus C. Coughlin, and Howard J. Wall 2005-10 St Louis Fed Working Papers F10 R10 http://research.stlouisfed.org/wp/2005/2005-060.pdf St Louis Fed Working Papers by Jeffrey P. Cohen, and Cletus C. Coughlin Airport-Related Noise, Proximity, and Housing Prices in Atlanta 2005-08-17T18:11:59Z Airport-Related Noise, Proximity, and Housing Prices in Atlanta 2005-08-17T18:11:59Z Full text http://research.stlouisfed.org/wp/2005/2005-060.pdf Jeffrey P. Cohen Cletus C. Coughlin Jeffrey P. Cohen, and Cletus C. Coughlin 2005-08 St Louis Fed Working Papers L93 Q51 Q53 R31