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作者：Herrera, Helios; Mace, Antonin; Nunez, Matias
作者单位：University of Warwick; Centre for Economic Policy Research - UK; Paris School of Economics; Centre National de la Recherche Scientifique (CNRS); Universite PSL; Ecole Normale Superieure (ENS); Institut Polytechnique de Paris; ENSAE Paris; Centre National de la Recherche Scientifique (CNRS); Ecole Polytechnique
摘要：We study how do-or-die threats ending negotiations affect gridlock and welfare when two opposing parties bargain. Failure to agree on a deal in any period implies a continuation of the negotiation. However, under brinkmanship, agreement failure in any period may precipitate a crisis with a small chance. In equilibrium, such brinkmanship threats improve the probability of an agreement, but also increase the risk of crisis. Brinkmanship reduces welfare when one might think it is most needed: sev...
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作者：Lu, Dan
作者单位：Chinese University of Hong Kong
摘要：Comments on Ma and Zhang (2025).
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作者：Dioikitopoulos, Evangelos V.; Varvarigos, Dimitrios
作者单位：Athens University of Economics & Business; University of Leicester
摘要：We highlight the role of economic materialism as a cultural phenomenon of significance in relation to economic transformation and development. By inducing material aspirations, an endogenous cultural change toward more widespread adherence to materialistic values is both a cause and an effect of productivity growth. This cultural-economic complementarity is a powerful mechanism of endogenous productivity growth; it also determines the prevalence of different cultural values vis-& agrave;-vis t...
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作者：Chen, Chaoran; Feng, Zhigang; Gu, Jiaying
作者单位：York University - Canada; University of Nebraska System; University of Nebraska Omaha; University of Toronto
摘要：This article identifies a health premium of insurance coverage: insured individuals are more likely to maintain good health or recover from poor health. We introduce this feature into a prototypical macrohealth model and estimate the baseline economy by matching the observed joint distribution of health insurance, health, and income over the life cycle. Quantitative analysis reveals that an individual's insurance status has a substantial and persistent impact on health. Providing universal hea...
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作者：Gallegos, Jose-Elias
作者单位：Banco de Espana
摘要：Monetary policy transmission in the benchmark New Keynesian (NK) model hinges on the Full Information Rational Expectations (FIRE) assumption, especially via indirect general equilibrium (GE) effects. This paper relaxes FIRE by introducing noisy information into a Heterogeneous-Agent NK model with financial frictions. Noisy information dampens amplification by muting GE effects, aligning model dynamics with empirical evidence, and resolving the forward guidance puzzle. It also broadens the det...
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作者：Duffy, John; Orland, Andreas
作者单位：University of California System; University of California Irvine; University of Osaka; Corvinus University Budapest
摘要：We test the buffer stock model of savings behavior using a three-period intertemporal model. In one treatment, liquidity in the second period is constrained (borrowing not possible), while the unconstrained treatment has no such constraint. The buffer stock model predicts that a second-period liquidity constraint increases first-period savings. We also vary the variance of stochastic income (high or low) in a 2x2$2 \times 2$ design. While we find no evidence for the predicted liquidity constra...
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作者：Peretto, Pietro F.; Valente, Simone
作者单位：Duke University; Norwegian University of Science & Technology (NTNU)
摘要：Pollution causes premature deaths but plays almost no role in macroeconomic analysis. To fill this gap, we build a tractable model of innovation-led economic growth and endogenous fertility in which production generates deadly spillovers, that is, emissions that increase mortality. Such spillovers affect income growth, population size, and welfare. They also create steady states that would not exist otherwise. Emission taxes increase population size and may even raise long-run growth if they r...
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作者：Urbinati, Niccolo; LiCalzi, Marco
作者单位：Universita Ca Foscari Venezia; Universita Ca Foscari Venezia
摘要：We study competitive equilibria in exchange economies when a continuum of goods is conflated into a finite set of commodities. The design of conflation choices affects the allocation of scarce resources among agents, by constraining trading opportunities and shifting competitive pressures. We demonstrate the consequences on relative prices, trading positions, and welfare.
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作者：Elliott, Matthew; Talamas, Eduard
作者单位：University of Cambridge; University of Navarra; IESE Business School
摘要：Agents make noncontractible investments before bargaining over who matches with whom and their terms of trade. An agent is a price taker when her investments do not change her potential partners' payoffs. This incentivizes socially optimal investments. Across a variety of noncooperative bargaining models featuring dynamic entry, we show that everyone necessarily becomes a price taker as the discount factor goes to 1 if there is a minimal amount of competition always present in the market. If t...
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作者：Berlingieri, Giuseppe; Calligaris, Sara; Criscuolo, Chiara; Verlhac, Rudy
作者单位：ESSEC Business School; Organisation for Economic Co-operation & Development (OECD); The World Bank
摘要：Using a unique microaggregated data set on firm-level productivity in 13 countries from 1995 to 2014, this article provides new evidence on technology- and knowledge-diffusion barriers for laggard firms. We show that, although the least productive firms benefit from a catch-up effect, their speed of catchup is lower in digital- and skill-intensive industries. This is especially true in countries with high skill mismatch, high financing frictions, and low absorptive capacity. These barriers to ...
