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作者：Chen, Heng; Lu, Yang K.; Suen, Wing
作者单位：University of Hong Kong; Hong Kong University of Science & Technology
摘要：We study how rumors mobilize individuals who take collective action. Rumors may or may not be informative, but they create public topics on which people can exchange their views. Individuals with diverse private information rationally evaluate the informativeness of rumors about regime strength. A rumor against the regime can coordinate a larger mass of attackers if individuals can discuss its veracity than if they cannot. Communication can be so effective that a rumor can have an even greater...
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作者：Dardati, Evangelina
作者单位：Universidad Alberto Hurtado
摘要：I use a firm dynamics model to compare two permit allocation schemes commonly used in pollution permit systems. In the first, closing plants keep their permits, and new entrants do not get them, whereas in the second, closing plants lose their permits, and new entrants get free allowances. Calibrating the model with data from power plants participating in the U.S. program, I find that, compared to the first scheme, in the second arrangement, (i) plants stay, on average, 3.6 years longer and (i...
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作者：Elsayyad, May; Morath, Florian
作者单位：Max Planck Society; Goethe University Frankfurt
摘要：This article considers the transfer of cost-reducing technology in the context of contributions to climate protection. We analyze a two-period public goods model where later contributions can be based on better information, but delaying the mitigation effort is costly because of irreversible damages. Investments in technology affect the countries' timing of contributing. We show that countries have an incentive to provide cost-reducing technology as this can lead to an earlier contribution of ...
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作者：Mailath, George J.; Postlewaite, Andrew; Samuelson, Larry
作者单位：University of Pennsylvania; Australian National University; Yale University
摘要：Buy local arrangements encourage members of a community or group to patronize one another instead of the external economy. They range from formal mechanisms such as local currencies to informal I'll buy from you if you buy from me arrangements and are often championed on social or environmental grounds. We show that in a monopolistically competitive economy, buy local arrangements can have salutary effects even for selfish agents immune to social or environmental considerations. Buy local arra...
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作者：Giustinelli, Pamela
作者单位：University of Michigan System; University of Michigan
摘要：Predicting group decisions under uncertainty requires disentangling individual members' utilities over the consequences of choice, their expectations for uncertain outcomes, and their choice process as a group. I estimate simple Bayesian models of child-parent choice of high school track with subjective risk and unilateral or bilateral, nonstrategic decisions, by combining families' actual choices with novel survey information about children's and parents' subjective probabilities over choice ...
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作者：Auray, Stephane; Eyquem, Aurelien; Gomme, Paul
作者单位：Ecole Nationale de la Statistique et de l'Analyse de l'Information (ENSAI); Centre National de la Recherche Scientifique (CNRS); Concordia University - Canada; Universite de Montreal
摘要：To evaluate fiscal policy reforms for Euro-area countries, this article develops and calibrates a small open economy model. Debt reduction reforms require higher tax rates in the short term in exchange for lower rates in the long term as the debt-servicing burden falls. Using the capital income tax to implement such a policy leads to welfare gains; the consumption tax, a very small welfare gain; and the labor income tax, a welfare loss. Holding fixed the long-run debt-output ratio, offsetting ...
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作者：Ciliberto, Federico; Miller, Amalia R.; Nielsen, Helena Skyt; Simonsen, Marianne
作者单位：University of Virginia; Aarhus University
摘要：We study workplace peer effects in fertility decisions using a game theory model of strategic interactions among coworkers that allows for multiple equilibria. Using register-based data on fertile-aged women working in medium-sized establishments in Denmark, we uncover negative average peer effects. Allowing for heterogeneous effects by worker type, we find that positive effects dominate across worker types defined by age or education. Negative effects dominate within age groups and among low-...
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作者：Fiorini, Luciana C.
作者单位：University of Western Australia
摘要：I present a general equilibrium model with incomplete markets in which assets pay in units of a numeraire good. In this economy, agents are constrained to negotiate the same amount of assets in different states of the world. Different from the standard result of economies with real assets, equilibrium indeterminacy can arise, depending on the structure of the financial markets. Equilibrium fails to be unique when it is not possible to transfer wealth between states in which consumers trade a p...
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作者：Kubota, Kohei; Fukushige, Mototsugu
作者单位：Yamagata University; University of Osaka
摘要：The life cycle/permanent income hypothesis (LCPIH) entails two postulates: People have rational expectations and people do not have problems with self-control. If either or both of these postulates do not apply, we cannot obtain a testable implication for the LCPIH. We use Japanese representative panel data that include responses to self-reported and retrospective questions in order to elicit behavior such as forward-looking and self-control problems. We test the rational expectations hypothes...
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作者：Bartelsman, Eric J.; Gautier, Pieter A.; De Wind, Joris
作者单位：Vrije Universiteit Amsterdam; Tinbergen Institute; CPB Netherlands Bureau for Economic Policy
摘要：We show empirically that high-risk sectors, which contribute strongly to aggregate productivity growth, are relatively small and have relatively low productivity growth in countries with strict employment protection legislation (EPL). To understand these findings, we develop a two-sector matching model where firms endogenously choose between a safe technology and a risky technology. For firms that have chosen the risky technology, EPL raises the costs of shedding workers in case they receive a...
