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作者：Yao, Wen; Zhu, Xiaodong
作者单位：Tsinghua University; University of Toronto; Tsinghua University
摘要：In developed countries, aggregate employment is strongly procyclical and almost as volatile as output. In China, the correlation of aggregate employment and output is close to zero, and the volatility of aggregate employment is very low. We argue that the key to understanding aggregate employment fluctuations in China is labor reallocation between the agricultural and nonagricultural sectors, and that the income effect plays an important role in determining the labor reallocation dynamics in b...
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作者：Arslan, Yavuz; Guler, Bulent; Taskin, Temel
作者单位：Bank for International Settlements (BIS); Indiana University System; Indiana University Bloomington; The World Bank
摘要：We differentiate consumption from expenditure by incorporating price search decision into an otherwise standard life-cycle model. We first analytically show that, under very general conditions, poorer households search more and pay lower prices compared to wealthier ones. As a result, consumption inequality is smaller than expenditure inequality, and the gap between them increases over the life-cycle. Next, using a plausibly calibrated model, we find that life-cycle increase in consumption ine...
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作者：Freitag, Andreas; Roux, Catherine; Thoeni, Christian
作者单位：University of Basel; University of Lausanne
摘要：We study the role of communication in collusive market sharing. In a series of Cournot oligopoly experiments with multiple markets, we vary the information that firms can exchange: hard information-verifiable information about past conduct-and soft information-unbinding information about future conduct. We find that the effect of communication on the firms' ability to collude depends on the type of information available: Whereas market prices increase only slightly with hard information, the p...
