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作者：Toxvaerd, Flavio
作者单位：University of Cambridge
摘要：This article studies a model of disease propagation in which rational and forward-looking individuals can control their exposure to infection by engaging in costly preventive behavior. Equilibrium outcomes under decentralized decision making are characterized and contrasted to the outcomes chosen by a social planner. In general, individuals overexpose themselves to infection, leading to suboptimally high disease prevalence. The model is applied to study the welfare effects of preexposure proph...
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作者：Chen, Yi; Mazzocco, Maurizio; Szemely, Bela
作者单位：Jinan University; University of California System; University of California Los Angeles; United States Department of the Treasury; Office of the Comptroller of the Currency
摘要：The U.S. saving rate declined by 8% between 1980 and 2009. We document that the decline can be explained by rising health expenditures. Using exogenous variation in medical expenses generated by Food and Drug Administration drug approvals, we document that a 1 percentage point increase in health expenditure generated a decline in saving rate of 0.9 percentage points. We then estimate a model of household decisions to evaluate the mechanisms behind the decline. We find that the rise in health e...
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作者：Etheridge, Ben
作者单位：University of Essex
摘要：I characterize how house price shocks affect consumption inequality using a life cycle model of housing and nonhousing consumption with incomplete markets. I derive analytical expressions for the dynamics of inequalities and use these to analyze large house prices swings seen in the United Kingdom. I show that movements in consumption inequality were large, that they correspond with the theoretical predictions qualitatively, and that the model explains a large fraction of the movements quantit...
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作者：Rodrigue, Joel; Tan, Yong
作者单位：Vanderbilt University; Nanjing University of Finance & Economics
摘要：This article develops a model of heterogeneous firms that endogenously choose prices and product quality to build demand in export markets. New exporters optimally charge relatively low prices and produce low-quality goods upon entry. Product quality, prices, and sales increase as demand grows. We structurally estimate model parameters using Chinese customs data. The estimated incentive to build future demand reduces average export prices by 0.7% and increases export sales by 4% upon entry. En...
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作者：Asprilla, Alan; Berman, Nicolas; Cadot, Olivier; Jaud, Melise
作者单位：University of Lausanne; Centre National de la Recherche Scientifique (CNRS); Aix-Marseille Universite; Centre for Economic Policy Research - UK; The World Bank
摘要：This article identifies the effect of trade policy on market power through new data and a new identification strategy. We identify market power by observing how exporting firms price discriminate across markets following variations in bilateral exchange rates. Pricing-to-market is prevalent in all countries in our sample, even among small firms, although it is increasing in firm size. More importantly, we find that the effect of nontariff measures (NTMs) is not isomorphic to that of tariffs. W...
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作者：Knowles, John; Vandenbroucke, Guillaume
作者单位：Simon Fraser University; Federal Reserve System - USA; Federal Reserve Bank - St. Louis
摘要：Female marriage probabilities were 50% higher in France in the years after World War 1, despite a large drop in the sex ratio. We develop a model of marital matching in which composition effects in the singles pool affect postdisruption matching rates. When calibrated to French data from World War 1, this mechanism explains 2/3 of the postwar rise in female marriage probabilities as the result of better composition of the pool of single men. We conclude that endogeneity issues make the sex rat...
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作者：Hu, Tai-Wei; Wallace, Neil
作者单位：University of Bristol; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：Following ideas in Hume, monetary shocks are embedded in the Lagos-Wright model in a new way: There are only nominal shocks accomplished by individual transfers that are sufficiently noisy so that realizations of those transfers do not permit the agents to deduce much about the aggregate realization. Assuming that the distribution of aggregate shocks is almost degenerate, aggregate output increases with the growth rate of the stock of money-our definition of the Phillips curve. This almost deg...
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作者：Benoit, Jean-Pierre; Dubra, Juan
作者单位：University of London; London Business School; Universidad de Montevideo
摘要：Many, though not all, experiments have found that exposing groups of subjects who disagree to the same evidence may cause their initial attitudes to strengthen and move further apart, or polarize. Some have concluded that findings of attitude polarization show that people process information in a biased manner so as to support their initial views. We argue that, on the contrary, polarization is often what we should expect to find in an unbiased Bayesian population, in the context of experiment...
