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作者：Bethencourt, Carlos; Rios-Rull, Jose-Victor
作者单位：Center for Economic & Policy Research (CEPR); National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; University of Minnesota System; University of Minnesota Twin Cities; Universidad de la Laguna; University of Pennsylvania
摘要：Between 1970 and 1990, the share of elderly widows living alone grew by 23.2% in the United States, whereas those living with their children decreased by a similar amount. We pose a variety of models for determining the living arrangements in which living together increases consumption because of economies of scale and may also provide utility directly. We estimate these models using the 1970 data and obtain an excellent fit. The estimated models predict that changes in the incomes of both the...
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作者：Calsamiglia, Caterina
作者单位：Autonomous University of Barcelona
摘要：In a global justice problem, equality of opportunity is satisfied if individual well-being is independent of exogenous irrelevant characteristics. Policymakers, however, address questions involving local justice problems. We interpret a collection of local justice problems as the decentralized global justice problem. We show that controlling for effort locally, which is not required by the global justice objective, is sufficient for decentralizing equality of opportunity. Moreover, under some ...
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作者：Bouakez, Hafedh; Cardia, Emanuela; Ruge-Murcia, Francisco J.
作者单位：Universite de Montreal; Universite de Montreal; Universite de Montreal; HEC Montreal
摘要：This article constructs and estimates a sticky-price, Dynamic Stochastic General Equilibrium model with heterogeneous production sectors. Firms in different sectors vary in their price rigidity, production technology, and the combination of material and investment inputs. In particular, firms buy inputs from all sectors using the actual Input-Output Matrix and Capital Flow Table of the U.S. economy. By relaxing the standard assumption of symmetry, this model allows idiosyncratic sectoral dynam...
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作者：Boldrin, Michele; Levine, David K.
作者单位：Washington University (WUSTL); Federal Reserve System - USA; Federal Reserve Bank - St. Louis; National Bureau of Economic Research
摘要：Intellectual property (IP) protection involves a trade-off between the undesirability of monopoly and the desirable encouragement of creation and innovation. Optimal policy depends on the relative strength of these two forces. We give a quantitative assessment of current IP policies. We focus particularly on the scale of the market, showing that as it increases, due either to growth or to the expansion of trade, IP protection should be reduced.
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作者：Byrne, David; Goeree, Michelle S.; Hiedemann, Bridget; Stern, Steven
作者单位：University of Virginia; University of Zurich; University of Southern California; Seattle University
摘要：We use the 1993 wave of the Assets and Health Dynamics Among the Oldest Old (AHEAD) data set to estimate a game-theoretic model of families' decisions concerning the provision of informal and formal care for elderly individuals. The outcome is the Nash equilibrium where each family member jointly determines her consumption, transfers for formal care, and allocation of time to informal care, market work, and leisure. We use the estimates to decompose the effects of adult children's opportunity ...
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作者：Keister, Todd
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：Self-fulfilling expectations are commonly believed to play an important role in the transmission of currency crises across countries. Formal models of contagion based on multiple equilibria, however, have been criticized for failing to explain basic patterns observed in the data; these criticisms have been taken as evidence against the self-fulfilling view. This article argues that the importance of self-fulfilling beliefs is not so easily dismissed. A slightly richer model, based on the incom...
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作者：Kambourov, Gueorgui; Manovskii, Iourii
作者单位：University of Pennsylvania; University of Toronto
摘要：We find that returns to occupational tenure are substantial. Everything else being constant, 5 years of occupational tenure are associated with an increase in wages of 12%-20%. Moreover, when occupational experience is taken into account, tenure with an industry or employer has relatively little importance in accounting for the wage one receives. This finding is consistent with human capital being occupation specific.
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作者：Ederington, Josh; McCalman, Phillip
作者单位：University of Kentucky; University of California System; University of California Santa Cruz
摘要：In this article, industrial evolution is driven by endogenous technology choices of firms, generating a rich environment that includes the possibility of a dramatic shakeout. The likelihood, magnitude, and timing of this shakeout are characterized and depend not only on the size of an innovation but also on cost structure. In this setting, trade liberalization reduces the likelihood of a shakeout, resulting in more stable industrial structures. However, when shakeouts arise in global markets, ...
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作者：Peersman, Gert; Straub, Roland
作者单位：European Central Bank; Ghent University
摘要：We use a model-based identification strategy to estimate the impact of technology shocks on hours worked and employment in the euro area. The sign restrictions applied in the vector autoregression (VAR) analysis are consistent with a large class of dynamic stochastic general equilibrium (DSGE) models and are robust to parameter uncertainty. The results are in line with the conventional Real Business Cycle (RBC) interpretation that hours worked rise as a result of a positive technology shock. B...
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作者：Kelly, Morgan
作者单位：University College Dublin
摘要：I analyze technological progress when knowledge has a large tacit component so that transmission of knowledge takes place through direct personal imitation. It is shown that the rate of technological progress depends on the number of innovators in the same knowledge network. Assuming the diffusion of knowledge to mirror the geographical pattern of trade-the greater the trade between two sites, the greater the probability that technical knowledge flows between them-I show that a gradual expansi...
