作者：Epstein, Brendan; Shapiro, Alan Finkelstein
作者单位：Federal Reserve System - USA; Tufts University
摘要：Developing and emerging economies have large employment shares in micro and small firms, which are characterized by limited access to formal financing and high reliance on input credit. These economies implemented a host of countercyclical labor market policies amid the Global Financial Crisis (GFC), but labor market data limitations prevent detailed empirical assessments of the effectiveness of these policies. We develop a business cycle model with frictional labor markets consistent with the...
作者：Wei, Shang-Jin; Zhang, Xiaobo; Liu, Yin
作者单位：Asian Development Bank; Columbia University; Peking University; CGIAR; International Food Policy Research Institute (IFPRI); Tsinghua University
摘要：In this paper, we explore the implications of home ownership as a status good for housing prices. More concretely, if a family's housing wealth relative to others is an important sorting variable for relative attractiveness in the marriage market, then competition for marriage partners might motivate people to pursue a bigger and more expensive house/apartment. To test the hypothesis, we explore regional variations in the sex ratio for the pre-marital age cohort across China (as a proxy for di...
