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作者：Alexopoulos, M
作者单位：University of Toronto
摘要：This paper presents a dynamic general equilibrium model where labor effort is imperfectly observable and there is unemployment in equilibrium. In contrast to shirking models in the efficiency wage literature, detected shirkers are not dismissed. Instead, they face a monetary punishment because they forgo an increase in their compensation. Estimated versions of the model can generate the high variation in employment and low variation of real wages observed over the business cycle, and are consi...
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作者：Curtis, E; Wright, R
作者单位：University of Pennsylvania
摘要：We study models combining search, money. price posting. and preference shocks. We show how these features interact to influence the price level and price dispersion. First. price-posting equilibria exist with valued fiat currency. Second. although both are possible. price dispersion is more common than a single price. Third, we rove that generically there cannot be more than two prices. We provide intuiton for this law of two prices. show it also holds in some nonmonetary search models, and di...
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作者：Tavares, J
作者单位：Universidade Nova de Lisboa
摘要：This paper conducts a systematic investigation of the incidence and economic costs of terrorist attacks at the country level. We use newly assembled datasets on terrorist attacks, natural disasters and currency crises to answer three different questions: what are the determinants of terrorism; is there an output cost following a terrorist attack; and is that cost larger or smaller in the case of democracies. We find that rich countries are the most prone to suffer attacks while democracies are...
