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作者：Besley, Timothy; Rahman, Lupin; Pande, Rohini; Rao, Vijayendra
作者单位：University of London; London School Economics & Political Science; Yale University; The World Bank
摘要：This paper uses village and household survey data from South India to examine how political geography and politician identity impacts on public good provision. We provide evidence that the nature of this relationship varies by type of public good. For high spillover public goods residential proximity to elected representative matters. In contrast, for low spillover public goods sharing the politician's group identity is what matters. (JEL: D78, H40)
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作者：Adao, Bernardino; Teles, Pedro; Correia, Isabel
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Chicago; Universidade Catolica Portuguesa; Centre for Economic Policy Research - UK
摘要：We study environments with sticky prices, wages, or portfolios where it is feasible and optimal to use monetary policy to replicate the allocation under full flexibility. In these environments the optimal policy does not depend on the scope of the frictions. In this sense, the strength of the monetary transmission mechanism is irrelevant for the conduct of monetary policy. So, asymmetries in the strength of the transmission mechanisms do not impose a cost on a common policy. (JEL: E31, E41, E5...
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作者：Hanushek, Eric A.; Raymond, Margaret E.
作者单位：Stanford University; National Bureau of Economic Research
摘要：The use of school accountability in the United States to improve student performance began in the separate states during the 1980s and was elevated through the federal No Child Left Behind Act of 2001. Evaluating the impact of accountability is difficult because it applies to entire states and can be confused with other changes in the states. We consider how the differential introduction of accountability across states affects growth in student performance on the National Assessment of Educati...
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作者：Ljungqvist, Lars; Sargent, Thomas J.
作者单位：Stockholm School of Economics; Centre for Economic Policy Research - UK; New York University
摘要：We recalibrate den Haan, Haefke, and Ramey's matching model to incorporate our preferred specification of turbulence as causing distinct dynamics of human capital after voluntary and involuntary job losses. Under our calibration, with high unemployment benefits, an increase in turbulence increases the unemployment rate and the duration of unemployment while leaving the inflow rate into unemployment roughly unchanged, mirroring features of European data in the 1980s and 1990s. The essential iss...
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作者：Compte, Olivier; Jehiel, Philippe
作者单位：Institut Polytechnique de Paris; Ecole des Ponts ParisTech; Centre National de la Recherche Scientifique (CNRS); University of London; University College London
摘要：Ascending auctions offer agents the option to wait and see before deciding to drop out. We show that in contexts where as time proceeds agents get finer and finer estimates of their valuations, incentives to drop out at one's expected valuation are weak: it is optimal for agents to wait and see. We first illustrate the claim in a private value setting. We next analyze an interdependent value setting in which this wait and see option results in an imperfect information aggregation. We also anal...
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作者：Uhlig, Harald
作者单位：Humboldt University of Berlin; Tilburg University; Centre for Economic Policy Research - UK
摘要：This paper contributes to the debate initiated by Gali in 1999. I provide a theory with capital income taxation, labor hoarding as well as long-run shifts in the social attitudes to the workplace-modelled as leisure at the workplace-to argue that there are other shocks that may influence labor productivity in the long run. I introduce medium-run identification and show it to be superior to long-run identification or standard short-run identification, when applied to artificial data. With U.S. ...
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作者：Goeree, Jacob K.; Wooders, John; Plott, Charles R.
作者单位：University of Amsterdam; University of Arizona; California Institute of Technology
摘要：Sales of multiple real-estate properties are often conducted via a sequence of ascending auctions, giving the winner at each stage the right to choose one of the available lots. We show that when bidders are risk averse, such bidders' choice auctions raise more revenues than standard simultaneous or sequential ascending auctions. We also report the results of laboratory experiments to investigate the effectiveness of bidders' choice auctions vis-a-vis the simultaneous ascending auction. The re...
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作者：Aghion, Philippe; Howitt, Peter; Blundell, Richard; Prantl, Susanne; Griffith, Rachel
作者单位：Harvard University; Brown University; University of London; University College London
摘要：How does entry affect productivity growth of incumbents? In this paper we exploit policy reforms in the United Kingdom that changed entry conditions by opening up the U.K. economy during the 1980s and panel data on British establishments to shed light on this question. We show that more entry, measured by a higher share of industry employment in foreign firms, has led to faster total factor productivity growth of domestic incumbent firms and thus to faster aggregate productivity growth. (JEL: ...
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作者：Kollmann, Robert
作者单位：University of Bonn; Centre for Economic Policy Research - UK
摘要：This paper evaluates the welfare effects of a monetary union (MU), compared to a floating exchange rate regime, using a quantitative business cycle model of a two-country world with sticky prices. It is assumed that, under a float, there are shocks to the uncovered interest rate parity (UIP) condition. These shocks are shown to have a negative effect on welfare-the detrimental effect is stronger, the higher the degree of trade openness. A MU eliminates UIP shocks, and it may thus raise welfare...
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作者：Miravete, Eugenio J.; Roeller, Lars-Hendrik
作者单位：University of Pennsylvania; Humboldt University of Berlin
摘要：This paper provides a structural interpretation to the estimates of the shape and position of nonlinear tariffs. We focus on the evaluation of price-cost margins, and thus we need to identify marginal cost from an equilibrium model of nonlinear pricing competition. We estimate these price-cost margins using quarterly data from the early U.S. cellular telephone industry between 1984 and 1988. Our results indicate that the margins are increased under duopoly, due to a significant reduction in ma...
