-
作者：Manzini, Paola; Mariotti, Marco
作者单位：University of St Andrews; IZA Institute Labor Economics; University of London; Queen Mary University London
摘要：There are many situations in which alternatives ranked by quality wish to be chosen and compete for the imperfect attention of a chooser by selecting their own salience. The chooser may be tricked' into choosing more salient but inferior alternatives. We investigate when competitive forces ensure instead that (strictly) higher salience is diagnostic of (strictly) higher quality and the most frequently chosen alternative is the best one. We prove that the structure of externalities in the techn...
-
作者：Lansing, Kevin J.; Markiewicz, Agnieszka
作者单位：Federal Reserve System - USA; Federal Reserve Bank - San Francisco; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam
摘要：We introduce permanently shifting income shares into a growth model with workers and capital owners. The model exactly replicates the US time paths of the top quintile income share, capital's share of income and key macroeconomic variables from 1970 to 2014. Welfare effects depend on changes in the time pattern of agents' consumption relative to a counterfactual scenario that holds income shares and the transfer-output ratio constant. Short-run declines in workers' consumption are only partial...
-
作者：Ashournia, Damoun
作者单位：University of Oxford
摘要：I build and estimate a dynamic structural model of sectoral choices with heterogeneous workers accumulating imperfectly transferable human capital. Utility costs provide an additional barrier to mobility. Estimated by simulated minimum distance on administrative data covering the population of Danish workers, costs are found to be in the range from 10% to 19% of average annual wages. Removing permanent unobserved heterogeneity increases the utility costs by an order of magnitude. I show that b...
-
作者：Qureshi, Javaeria A.
作者单位：University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital
摘要：This article estimates the effect of the oldest sister's education on child human capital development. In many developing countries, the oldest sisters share significant childcare responsibilities in the household and can influence younger siblings' learning. I propose a model that predicts competing effects of increasing the oldest sister's schooling on younger sibling human capital. Using an identification strategy that exploits the gender segregation of schools in Pakistan, I find that the ...
-
作者：Choy, James P.
作者单位：University of Warwick
摘要：Many societies are divided into multiple smaller groups. Certain kinds of interaction are more likely to take place within a group than across groups. I model a reputation effect that enforces these divisions. People who are observed to interact with members of different groups are believed to be less trustworthy by members of their own group. A hierarchical relationship between groups appears endogenously in equilibrium. The information requirements for my equilibrium to exist are much less d...
-
作者：Marshall, Guillermo; Pires, Tiago
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; University of North Carolina; University of North Carolina Chapel Hill
摘要：We build an empirical framework for the analysis of grocery store choice. We find that higher travel costs lead people to shop at places where they pay higher prices and face less variety in economically significant magnitudes. Moreover, store convenience (or travel costs) - rather than prices or variety - is what drives store choice. These results suggest that policies increasing access to supermarkets in areas with a limited supermarket presence are a step in the right direction, in terms of...
-
作者：Bergin, Paul R.; Feng, Ling; Lin, Ching-Yi
作者单位：University of California System; University of California Davis; Shanghai University of Finance & Economics; National Tsing Hua University
摘要：This article shows that firm entry dynamics are an important part of the propagation of financial shocks to the real macroeconomy. A VAR documents empirically that adverse financial shocks are associated with significant declines in both new firm creation and equity values. A DSGE business cycle model combining endogenous firm entry and financial frictions, where firms have a choice of financing entry through debt or equity, can explain these facts. The model implies that adjustment in firm nu...
-
作者：Castello-Climent, Amparo; Chaudhary, Latika; Mukhopadhyay, Abhiroop
作者单位：University of Valencia; United States Department of Defense; United States Navy; Naval Postgraduate School; Indian Statistical Institute
摘要：This article estimates the impact of completed higher education on economic prosperity across Indian districts. To address the endogeneity of higher education, we use the location of Catholic missionaries circa 1911 as an instrument. Catholics constitute a very small share of the population in India and their influence beyond higher education has been limited. Our instrumental variable results find a positive effect of higher education on development, as measured by light density. The results ...
-
作者：Ben-Gad, Michael
作者单位：City St Georges, University of London
摘要：I construct an optimal growth model with overlapping dynasties to investigate how much the rate at which an economy absorbs new immigrant dynasties could motivate current voters to favour greater reliance on deficit finance of government expenditures through intertemporal shifts in factor taxation. The model demonstrates that even if voters are altruistically linked to their descendants, rising immigration, coupled with declining birth rates may explain the growth in public debt and unfunded l...
-
作者：Bahar, Dany; Rapoport, Hillel
作者单位：Brookings Institution; Paris School of Economics
摘要：The diffusion of tacit knowledge involves direct human interactions. This implies that the international diffusion of knowledge should follow the pattern of international migration. We test this idea using cross-country productivity spillovers leading to new exports as proxy for knowledge diffusion. We find that a 10% increase in immigration from exporters of a given product is associated with a 2% increase in the likelihood that the host country starts exporting that good from scratch' in the...
