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作者：Maibom, Jonas
作者单位：Aarhus University; IZA Institute Labor Economics; Aarhus University
摘要：This article estimates a model of job search with utility costs and benefits triggered by mandatory reemployment programs. I use data from an experiment that generates exogenous variation in the threat of program participation and an increase in the job finding rate. I calculate the impact of the experiment on worker welfare, and find that participants would be willing to give up 1.5-1.7 weeks of unemployment benefits to avoid participation. These welfare costs vary across workers and are larg...
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作者：Fan, Xinyu; Wu, Lingwei
作者单位：Fudan University
摘要：This article presents a theory that explains the rise of foot-binding in historical China, in response to a gender-asymmetric social mobility shock that dispersed men's quality distribution in the marriage market. The theory characterizes the marriage market equilibrium and women's competition strategies before and after the shock. Empirical evidence using archival data corroborates the theoretical predictions that greater men's social mobility opportunities encouraged foot-binding and that a ...
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作者：Inderst, Roman; Obradovits, Martin
作者单位：Goethe University Frankfurt; University of Innsbruck
摘要：In a variety of purchasing situations, consumers may focus primarily on headline prices, disregarding the full costs associated with acquiring and maintaining a product or service contract. Even when this is the case, the literature has delineated various circumstances where intense competition can protect consumers through the so-called waterbed effect. In this article, we however show that when consumers have context-dependent preferences, competition may rather exacerbate their and society'...
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作者：Falcettoni, Elena; Nygaard, Vegard M.
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; University of Houston System; University of Houston
摘要：We use an expected utility model to examine how living standards, or welfare, vary across the United States and how each state's welfare has evolved over time, accounting for cross-state variations in mortality, consumption, education, leisure, and inequality. We find considerable cross-state heterogeneity in welfare levels. This is robust to allowing for endogenous interstate migration and to computing welfare conditional on education, gender, and race. Although states experienced heterogeneo...
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作者：Gans, Joshua S.
作者单位：University of Toronto; National Bureau of Economic Research
摘要：Vaccine hesitancy is modeled as an endogenous decision within a behavioral epidemiological model with endogenous agent activity. It is shown that policy interventions that directly target costs associated with vaccine adoption may counter vaccine hesitancy whereas those that manipulate the utility of unvaccinated agents will either lead to the same or lower rates of vaccine adoption. This latter effect arises with vaccine passports whose effects are mitigated in equilibrium by reductions in vi...
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作者：Hua, Xinyu; Spier, Kathryn E.
作者单位：Hong Kong University of Science & Technology; Harvard University
摘要：A firm licenses a product to overlapping generations of heterogeneous consumers. Consumers may purchase the product, pirate/steal it, or forego it. Higher consumer types enjoy higher gross benefits and are caught stealing at a higher rate. The firm may commit to an out-of-court settlement policy that is soft on pirates, so high types purchase the product and low types steal it until caught. Settlement contracts, which include both cash payments and licenses for future product use, facilitate p...
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作者：Sun, Yang; Zhao, Wei; Zhou, Junjie
作者单位：Southwestern University of Finance & Economics - China; Renmin University of China; Tsinghua University
摘要：Two types of interventions are commonly implemented in networks: characteristics interventions, which influence individuals' intrinsic incentives, and structural interventions, which target the social links among individuals. In this article, we provide a general framework to evaluate the distinct equilibrium effects of both types of interventions. We show that any structural intervention is outcome-equivalent to an endogenously determined characteristics intervention. We present a wide range ...
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作者：da Fonseca, Joao Galindo; Berube, Charles
作者单位：Universite de Montreal
摘要：We study the relationship between family and entrepreneurship decisions. Family influences entrepreneurship decisions via two channels: (i) Spouses work more in case of business failure and (ii) children increase the cost of failure. We use administrative matched owner-employer-employee-spouse data to estimate the predictions derived from our model. We find evidence that marriage decreases entry into entrepreneurship and increases average firm size, consistent with mechanism (ii) dominating th...
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作者：Liu, Yanbo; Phillips, Peter C. B.; Yu, Jun
作者单位：Shandong University; Yale University; University of Auckland; Singapore Management University; Singapore Management University; University of Macau; Yale University
摘要：This study provides new mechanisms for identifying and estimating explosive bubbles in mixed-root panel autoregressions with a latent group structure. A postclustering approach is employed that combines k-means clustering with right-tailed panel-data testing. Uniform consistency of the k-means algorithm is established. Pivotal null limit distributions of the tests are introduced. A new method is proposed to consistently estimate the number of groups. Monte Carlo simulations show that the propo...
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作者：Liu, Feng; White, Joseph S.; Conlon, John R.
作者单位：University of Texas System; University of Texas El Paso; University of Mississippi
摘要：We construct a simple rational greater-fool bubble model, where the motive for trade is intertemporal consumption smoothing. This yields an easy-to-understand bubble model with three states of the world, instead of the five required previously. Bubbles are more likely when asset sellers have profitable investment opportunities, but little wealth, so they sell shares in those opportunities to wealthier investors. Bad sellers then pretend to sell similar investment opportunities, creating potent...
