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作者：Anesi, Vincent; Safronov, Mikhail
作者单位：University of Luxembourg; University of Cambridge; University of Luxembourg
摘要：We study the impact of deliberation rules on collective learning and decision making in committees. In contrast to much of the existing literature, this article makes a distinction between the final votes over policy proposals and the cloture votes that bring them about. We show how deliberation rules can cause Pareto-inefficient outcomes and failures to bring good proposals to a final vote, and how they affect the distribution of power among committee members in the deliberative process. We f...
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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：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：Kohn, David; Leibovici, Fernando; Szkup, Michal
作者单位：Pontificia Universidad Catolica de Chile; Federal Reserve System - USA; Federal Reserve Bank - St. Louis; University of British Columbia
摘要：We study the role of financial development on the aggregate implications of reducing import tariffs on capital and intermediate inputs. We document empirically that financially underdeveloped economies feature a slower aggregate response following trade liberalization. To quantify these effects, we set up a general equilibrium model with heterogeneous firms subject to collateral constraints and estimate it using Colombian plant-level data. We find that low financial development substantially l...
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作者：Gratton, Gabriele; Morelli, Massimo
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作者：Albrecht, James; Decreuse, Bruno; Vroman, Susan
作者单位：Georgetown University; Aix-Marseille Universite; Georgetown University
摘要：When vacancies are filled, the job ads often remain, creating phantom vacancies. Older listings more likely represent phantoms. We assume job seekers direct their search based on listing age. Forming a match with an age-a vacancy creates an age-a phantom with probability beta and generates an externality affecting vacancies aged a and older. Thus, the externality decreases with the match's listing age. Relative to efficient behavior, job seekers overapply to younger listings. We calibrate usin...
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作者：Ma, Eunseong
作者单位：Yonsei University
摘要：This article studies a labor-supply-side channel affecting the relationship between monetary policy and income inequality. To this end, I build a heterogeneous-agent New Keynesian economy with indivisible labor in which both macro and micro labor supply elasticities are endogenously generated. First, I find that monetary policy shocks have distributional consequences due to a substantial heterogeneity in labor supply elasticity across households. Second, a more equal economy is associated with...
