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作者：Abbring, Jaap H.; Daljord, Oystein
作者单位：Tilburg University; University of Chicago
摘要：Fang and Wang's (2015) Proposition 2 claims generic identification of a dynamic discrete choice model with hyperbolic discounting under exclusion restrictions. We note that Proposition 2 uses a definition of generic that does not preclude that a generically identified model is nowhere identified. We provide two examples of models that are generically identified under this definition, but that are, respectively, everywhere and nowhere identified. We then show that the proof of Proposition 2 is ...
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作者：Dupuy, Arnaud; Galichon, Alfred; Jaffe, Sonia; Kominers, Scott Duke
作者单位：University of Luxembourg; New York University; New York University; Institut d'Etudes Politiques Paris (Sciences Po); Microsoft; Harvard University; National Bureau of Economic Research; Harvard University
摘要：We analyze the effects of taxation in two-sided matching markets where agents have heterogeneous preferences over potential partners. Our model provides a continuous link between models of matching with and without transfers. Taxes generate inefficiency on the allocative margin, by changing who matches with whom. This allocative inefficiency can be nonmonotonic, but is weakly increasing in the tax rate under linear taxation if each worker has negative nonpecuniary utility of working. We adapt ...
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作者：Bhattacharya, Haimanti; Dugar, Subhasish
作者单位：Utah System of Higher Education; University of Utah
摘要：It is widely believed that successful bargaining helps consumers increase their surplus. We present evidence from a field experiment showing that bargaining over price reduces buyer surplus in a marketplace where sellers cheat on the weight whose value may more than offset the price discount. Our results show that bargaining entails hidden costs since sellers cheat significantly more when buyers bargain than not and they cheat significantly more when bargaining succeeds than fails. Overall bar...
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作者：Diamond, Jess; Watanabe, Kota; Watanabe, Tsutomu
作者单位：Hosei University; University of Tokyo; University of Tokyo
摘要：Using a new data set, we investigate the relationship between the inflation experience and expectations of households in Japan, focusing on the post-1995 deflationary era. Our first finding is that inflation expectations increase with age. Second, we find that measured inflation rates also increase with age, although age and inflation expectations continue to exhibit a positive correlation even after controlling for the household-level inflation rate. Analysis suggests that the correlation bet...
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作者：Saijo, Hikaru
作者单位：University of California System; University of California Santa Cruz
摘要：This article studies the impact of fiscal uncertainty shocks. In micro data, noncapital holders reduce consumption persistently in response to an increase in fiscal uncertainty whereas capital holders do not. Motivated by this evidence, I introduce limited capital market participation and show that it magnifies the fall in economic activity due to a fiscal uncertainty shock and induces macroeconomic comovement. This is because the limited participation model captures individual uncertainty abo...
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作者：Canova, Fabio; Ferroni, Filippo; Matthes, Christian
作者单位：BI Norwegian Business School; Centre for Economic Policy Research - UK; Federal Reserve System - USA; Federal Reserve Bank - Chicago; Indiana University System; Indiana University Bloomington; Federal Reserve System - USA; Federal Reserve Bank - Richmond
摘要：We study how structural parameter variations affect the decision rules and economic inference. We provide diagnostics to detect parameter variations and to ascertain whether they are exogenous or endogenous. A constant parameter model poorly approximates a time-varying data generating process (DGP), except in a handful of relevant cases. Linear approximations do not produce time-varying decision rules; higher-order approximations can do this only if parameter disturbances are treated as decisi...
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作者：Reis, Hugo
作者单位：Banco de Portugal
摘要：The article develops and estimates a dynamic structural model of girls' school-going decisions and mother's labor market participation. It seeks to determine the causes of low school participation and to evaluate alternative public policies. The model incorporates mother's education, school availability, the productivity of the girl when engaged in household production, and the potential trade-off between mother's and daughter's housework decisions. Our findings suggest that school constructio...
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作者：Banzhaf, H. Spencer
作者单位：National Bureau of Economic Research; University System of Georgia; Georgia State University
摘要：Traditional cross-sectional estimates of hedonic price functions can recover marginal willingness to pay for characteristics, but face endogeneity problems for estimating nonmarginal welfare measures. This article shows that when panel data on household demands are available, one can construct a second-order approximation to nonmarginal welfare measures using only the first-stage marginal prices. With repeated cross sections of product prices, the measure can be set identified or, under a sing...
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作者：Reddy, Karthik; Schularick, Moritz; Skreta, Vasiliki
作者单位：Harvard University; University of Bonn; University of Texas System; University of Texas Austin; Centre for Economic Policy Research - UK; University of London; University College London; New York University; Harvard University; University of Texas System; University of Texas Austin
摘要：Legal provisions that protect elected politicians from prosecution have been common throughout history and still exist in most democracies. We provide the first systematic measurement of immunity and study, theoretically and empirically, its relation to corruption. Theory predicts that immunity is a double-edged sword. To test whether immunity is a vice or a virtue, we quantify immunity enjoyed by heads of government, ministers, and legislators in 90 countries. Controlling for standard determi...
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作者：Dioikitopoulos, Evangelos V.; Turnovsky, Stephen J.; Wendner, Ronald
作者单位：University of London; King's College London; Athens University of Economics & Business; University of Washington; University of Washington Seattle; University of Graz
摘要：This article advances the hypothesis that the intensity of status preferences depends negatively on the average wealth of society (endogenous dynamic status effect), in accordance with empirical evidence. Our theory replicates the contradictory historical facts of an increasing saving rate along with declining returns to capital over time. By affecting the dynamics of the saving rate, the dynamic status effect raises inequality, thereby providing a behavioral mechanism for the observed diverse...
