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作者：Anderson, Simon P.; Foros, Oystein; Kind, Hans Jarle
作者单位：University of Virginia; Norwegian School of Economics (NHH)
摘要：The more functionalities a good offers, the greater is its perceived quality. Equilibrium prices in standard spatial competition models depend solely on quality differences. We assume that new functionalities are more appreciated the closer a product is to a consumer's ideal variety. Prices are then increasing in functionality levels. Furthermore, we endogenize whether consumers buy only one of two varieties (single-purchase) or both (multipurchase). Under multipurchase, there might be a hump-...
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作者：Irmen, Andreas
作者单位：University of Luxembourg; Leibniz Association; Ifo Institut
摘要：Does population aging and the associated increase in the old-age dependency ratio affect economic growth? The answer is given in a novel analytical framework that allows for population aging to affect endogenous capital- and labor-saving technical change. In a steady state capital-saving technical progress vanishes, and the economy's growth rate of per-capita variables reflects only labor-saving technical change. The mere possibility of capital-saving technical change is shown to imply that th...
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作者：Chiu, Jonathan; Meh, Cesaire; Wright, Randall
作者单位：Bank of Canada; Victoria University Wellington; University of Wisconsin System; University of Wisconsin Madison; Federal Reserve System - USA; Federal Reserve Bank - Chicago; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; National Bureau of Economic Research
摘要：The generation of ideas and their implementation are crucial for economic performance. We study this in a model of endogenous growth, where productivity increases with innovation and where the exchange of ideas (technology transfer) allows those with comparative advantage to implement them. Search, bargaining, and commitment frictions impede the idea market, however, reducing efficiency and growth. We characterize optimal policies involving subsidies to innovative and entrepreneurial activity,...
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作者：Kaplan, Greg; Schulhofer-Wohl, Sam
作者单位：University of Chicago; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - Chicago
摘要：We analyze the secular decline in gross interstate migration in the United States from 1991 to 2011. We argue that migration fell because of a decline in the geographic specificity of returns to occupations, together with an increase in workers' ability to learn about other locations before moving. Micro data on earnings and occupations across space provide evidence for lower geographic specificity. Other explanations do not fit the data. Acalibrated model formalizes the geographic specificity...
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作者：Li, Siguang; Weng, Xi
作者单位：Southwestern University of Finance & Economics - China; Peking University
摘要：This article rationalizes matrix management in a multiproject organization in which decisions must be adapted to local conditions but also coordinated with each other. Project managers are privately informed about local conditions and communicate strategically via cheap talk. Matrix management is modeled as a randomization over deterministic authority allocations. We show that random authority is strictly optimal when the conflict between adaptation and coordination is very severe or the coord...
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作者：Xie, Jia
作者单位：Bank of Canada
摘要：This article studies the use of information for incentives and risk sharing in agency problems. When the principal is risk neutral or the outcome is contractible, risk sharing is unnecessary or dealt with by a contract on the outcome, so information systems are used for incentives only. When the outcome is noncontractible, a risk-averse principal relies on imperfect information for both incentives and risk sharing. Under the first-order approach, this article relaxes Gjesdal's criterion for ra...
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作者：Coate, Stephen; Ma, Yanlei
作者单位：Cornell University; Cornerstone Research
摘要：Recent empirical work in public finance uses the housing price response to public investment to assess the efficiency of local durable public good provision. This article explores the theoretical justification for this technique. It points out that the logic justifying the technique for evaluating nondurable public good provision does not translate to the durable case. A model in which investment is determined by the interaction between a budget-maximizing bureaucrat and a community's resident...
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作者：Yasui, Daishin
作者单位：Kobe University
摘要：This article presents a theory of the cross-sectional fertility differential, which produces the negative wage-fertility relationship based on job heterogeneity. Although evidence suggests the importance of job heterogeneity in the labor market, it has largely been ignored in theories of fertility choice. I show that a theory incorporating job heterogeneity requires only standard conditions on preferences to generate the negative wage-fertility relationship, and the negative relationship deriv...
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作者：Choi, Sekyu
作者单位：University of Bristol
摘要：In this article, I study fertility decisions with special emphasis on the timing of births and abortions over the life cycle. Given the policy debate regarding abortion availability and recent evidence of its positive impact on women's outcomes, understanding the fertility process should help guide the discussion. Here, I present a life-cycle model of consumption-savings and fertility decisions in an environment with uninsurable income shocks and imperfect fertility control. My model presents ...
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作者：Chatterjee, Satyajit; Eyigungor, Burcu
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Philadelphia
摘要：An analytically tractable city model with external increasing returns is presented. The equilibrium city structure is either monocentric or decentralized. Regardless of which structure prevails, intracity variation in endogenous variables displays exponential decay from the city center, where the decay rates depend only on parameters. Given population, the equilibrium of the model is generically unique. Tractability permits explicit expressions for when a central business district (CBD) will e...
