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作者：Saint-Paul, Gilles
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; IZA Institute Labor Economics; Leibniz Association; Ifo Institut
摘要：We study an endogenous growth model where a profit-motivated R and D sector coexists with the introduction of free blueprints invented by philanthropists. These goods are priced at marginal cost, contrary to proprietary ones which are produced by a monopoly owned by the inventor. We show that philanthropy does not necessarily increase long-run growth and that it may even reduce welfare. The reason is that it crowds out proprietary innovation which on net may reduce total innovation in the long...
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作者：McLaren, John
作者单位：University of Virginia; National Bureau of Economic Research
摘要：Globalization, by raising the number of buyers available to each seller and the number of sellers available to each buyer, raises the thickness, or the effective number of participants, of every market. Market thickness can have subtle effects on incentives and organizations, alleviating hold-up problems, resulting in less vertical integration, more informal contracting, and more cooperative and innovative relationships with subcontractors. However, it can also weaken long-run relationships, d...
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作者：Zenou, Yves
作者单位：University of Southampton
摘要：This paper aims to explain the spatial variations of crime, both between and within cities. Two types of mechanisms are put forward: Social interactions that stipulate that an individual is more likely to commit crime if his peers commit than if they do not commit crime, and distance to jobs that indicates that remote residential location induces individuals to commit more crime. Both mechanisms are shown to have strong empirical support. (JEL: K42, R1)
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作者：Anderson, Evan W.; Hansen, Lars Peter; Sargent, Thomas J.
作者单位：University of North Carolina; University of North Carolina Chapel Hill; University of Chicago; New York University
摘要：A representative agent fears that his model, a continuous time Markov process with jump and diffusion components, is misspecified and therefore uses robust control theory to make decisions. Under the decision maker's approximating model, cautious behavior puts adjustments for model misspecification into market prices for risk factors. We use a statistical theory of detection to quantify how much model misspecification the decision maker should fear, given his historical data record. A semigrou...
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作者：Bisin, Alberto; Topa, Giorgio
作者单位：New York University
摘要：This paper reviews several issues concerning an empirical analysis of the endogenous formation of preferences, as well as cognitive and psychological traits. In particular we show by means of examples how, with existing data, it is possible to identify empirically the distinct influence of family and society at large in the determination of cultural traits, and to disentangle genetic inheritability from cultural and environmental factors determining cognitive and psychological traits. (JEL: I2...
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作者：Cooley, Thomas F.; Yorukoglu, Mehmet
作者单位：New York University; University of Chicago
摘要：We study the behavior of imitation and innovation in a dynamic general equilibrium model that captures the salient features of an information age. We study a world where innovations can be made but at a cost that reflects the type of goods. After innovation takes place, imitation is possible but again at some cost which reflects the nature of the good. We show that the behavior of innovation and imitation are very different for high information content goods and low information content goods a...
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作者：Friberg, Richard
作者单位：Stockholm School of Economics
摘要：Does the common currency promote goods market integration within the EMU? We argue that such an effect is likely, but that the mechanism typically proposed-lower costs of arbitrage because of increased price transparency-is likely to be of minor importance. Instead we sketch a duopoly model which stresses that lower possibility of future real exchange rate variability lowers the option value of being able to price discriminate. The euro would promote market integration because it is less valua...
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作者：Jovanovic, Boyan; Rousseau, Peter L.
作者单位：New York University; Vanderbilt University
摘要：The IPOs of the Electricity/Internal Combustion revolution created more lasting value than the IPOs of the IT revolution. Stock-market data point to two explanations for this. First, computer prices have been falling much faster than did those of electricity and internal combustion in the 1890-1930 period, and so the value of each generation of computer-intensive entrants is reduced by later entrants. And, second, the pre-1973 vintages reacted to the microcomputer relatively quickly, perhaps b...
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作者：Shearer, Bruce
作者单位：Laval University
摘要：The role of field experiments in evaluating the effect of compensation policies on worker productivity is considered. Particular attention is paid to the ability of a field experiment to identify the effect of a permanent change in firm policy. While field experiments solve endogeneity problems through randomization, they do so within a specific, and at times artificial, environment that may not be replicated by a permanent policy change. As such, rather than providing a basis for the unrestri...
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作者：Lindbeck, Assar; Nyberg, Sten; Weibull, Joergen W.
作者单位：Stockholm University; Stockholm University; Boston University
摘要：The paper analyses the interaction between economic incentives and work norms in the context of social insurance. If the work norm is endogenous in the sense that it is weaker when the population share of beneficiaries is higher, then voters will choose less generous benefits than otherwise. We also discuss welfare-state dynamics when there is a time lag in the adjustment of the norm in response to changes in this population share, and show how a temporary shift in the unemployment rate may ca...
