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作者：Bratsberg, Bernt; Moxnes, Andreas; Raaum, Oddbjorn; Ulltveit-Moe, Karen Helene
作者单位：University of Oslo
摘要：We investigate the impact of a large immigration shock on occupational wages. We develop a general equilibrium model where individuals sort into occupations and confront testable hypotheses with data. To identify the effect of the labor supply shock, we introduce a novel instrument that exploits that immigrants systematically sort into different occupations than natives. We study the immigration wave to Norway after the Eastern enlargement and find that immigration led to lower relative occupa...
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作者：Mayr-Dorn, Karin
作者单位：Johannes Kepler University Linz
摘要：I develop a model that allows for an analysis of the effects of time on adverse selection in the presence of search frictions. I find that, as a firm takes longer to adjust a worker's contract in response to learning about his type, inefficient overwork during the time before wage adjustment (probation) decreases. This provides a rationale for an optimal (minimum) probation period of about one month in the baseline scenario. Optimal probation duration varies with the degree of search frictions...
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作者：Antoniou, Fabio; Fiocco, Raffaele
作者单位：Athens University of Economics & Business; University of Bergamo
摘要：We investigate a firm's dynamic pricing policy in a storable good market where the cost of production varies over time. In anticipation of a cost increase, the firm selects its prices to affect consumer storage. Price dynamics hinge upon the curvature of demand and the magnitude of the consumer storage cost. When demand is not too convex, the consumers' reluctance to store leads the firm to reduce prices to stimulate consumer storage. This shapes the firm's cost pass-through and the price comm...
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作者：Asturias, Jose; Rossbach, Jack
作者单位：Qatar Foundation (QF); Georgetown University in Qatar
摘要：A striking feature of microlevel plant data is the presence of significant variation in factor cost shares across plants within an industry. We develop a methodology based on cluster analysis to decompose cost shares into idiosyncratic and group-specific components. We apply our methodology to Chilean plant-level data and find that group-specific variation accounts for approximately one-third of the variation in cost shares. We study the implications of these groups in cost shares on the gains...
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作者：Lee, Frances Xu; Suen, Wing
作者单位：Loyola University Chicago; University of Hong Kong
摘要：A university uses both early-stage selection outcome (high-school affiliation) and late-stage admission test outcome (standardized test scores) to select students. We use this model to study policies that have been proposed to combat inefficient gaming in college admissions. Increasing university enrollment size can exacerbate gaming and worsen the selection outcome. Abolishing standardized tests for university admissions increases gaming targeting high-school admissions and worsens the select...
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作者：Hur, Sewon
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Dallas
摘要：This article develops a quantitative heterogeneous agent-life cycle-epidemiological model that is used to study the aggregate and distributional consequences of COVID-19 and mitigation policies. First, a stay-at-home subsidy is preferred to a lockdown because it reduces deaths by more and output by less. Second, Pareto-improving policies can reduce deaths by nearly 45% without any reduction in output relative to no public mitigation. Finally, it is possible to simultaneously improve public hea...
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作者：Lee, Eungik; Choi, Andrew; Choi, Syngjoo; Gueron, Yves
作者单位：New York University; University of Chicago; Seoul National University (SNU)
摘要：This article provides experimental evidence on the impacts of irreversibility and imperfect monitoring on the efficiency and the equity of a repeated public goods game. We find that irreversibility and imperfect monitoring both lead to inefficient and unequal outcomes through different channels. Irreversibility lowers public goods contribution in earlier periods and makes the initial-period contribution gap between two players long-lasting. Imperfect monitoring hampers conditional cooperation ...
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作者：Cai, Xiaoming; Gautier, Pieter; Wolthoff, Ronald
作者单位：Peking University Shenzhen Graduate School (PKU Shenzhen); Peking University; Vrije Universiteit Amsterdam; Tinbergen Institute; University of Toronto
摘要：This article shows how meeting frictions affect equilibrium trading mechanisms and allocations in an environment where identical sellers post mechanisms to compete for buyers with ex ante heterogeneous private valuations. Multiple submarkets can emerge, each consisting of all sellers posting a particular mechanism and the buyers who visit those sellers. Under mild conditions, high-valuation buyers are all located in the same submarket, and low valuation buyers can be in: (i) the same submarket...
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作者：Sieg, Holger; Yoon, Chamna; Zhang, Jipeng
作者单位：University of Pennsylvania; National Bureau of Economic Research; Seoul National University (SNU); Shandong University
摘要：We develop and estimate a spatial overlapping generations model with heterogeneous households to study the feasibility of a recently proposed reform of internal migration policies that offers the potential of decreasing inequality within China. We find that this policy change significantly increases the college attainment of migrant children born in rural areas and, therefore, promises to increase the number of high-skill workers. However, it requires significant tax increases to offset the re...
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作者：Cao, Melanie; Shi, Shouyong
作者单位：York University - Canada; Queens University - Canada
摘要：Capital reallocation is procyclical and an economic boom has a cleansing effect by shifting the distribution of firms from low quality to high quality. We explain these facts by modeling search frictions for used capital in the business cycle. The article characterizes the stochastic equilibrium analytically to prove that the liquidity and the price of reallocated capital are procyclical endogenously. We calibrate the model and construct proxies in the data for the unemployment rate of capital...
