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作者：Kovbasyuk, Sergey; Spagnolo, Giancarlo
作者单位：New Economic School; University of Rome Tor Vergata; Centre for Economic Policy Research - UK
摘要：In many environments, including credit and online markets, records about participants are collected, published, and erased after some time. We study the effects of erasing past records in a dynamic market where the quality of sellers follows a Markov process, and buyers leave feedback about sellers to an information intermediary. When the average quality of sellers is low, unlimited records lead to a market breakdown in the long run. We consider the information design problem and characterize ...
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作者：Mueller, Andreas, I; Osterwalder, Damian; Zweimuller, Josef; Kettemann, Andreas
作者单位：University of Texas System; University of Texas Austin; University of Zurich
摘要：This article explores the relationship between the duration of a vacancy and the starting wage of a new job, using linked data on vacancies, the posting establishments, and the workers eventually filling the vacancies. The unique combination of large-scale, administrative worker, establishment, and vacancy data is critical for separating establishment- and job-level determinants of vacancy duration from worker-level heterogeneity. Conditional on observables, we find that vacancy duration is ne...
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作者：Andrews, Donald W. K.; Kwon, Soonwoo
作者单位：Yale University; Brown University
摘要：This paper is concerned with possible model misspecification in moment inequality models. Two issues are addressed. First, standard tests and confidence sets for the true parameter in the moment inequality literature are not robust to model misspecification in the sense that they exhibit spurious precision when the identified set is empty. This paper introduces tests and confidence sets that provide correct asymptotic inference for a pseudo-true parameter in such scenarios, and hence, do not s...
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作者：Cumming, Fergus; Dettling, Lisa
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：This paper examines whether monetary policy pass-through to mortgage interest rates affects household fertility decisions. Our empirical strategy exploits variation in households' eligibility for a rate adjustment, coupled with the large reductions in the monetary policy rate that occurred during the Great Recession in the U.K. and U.S. We estimate that each one percentage point drop in the policy rate increased birth rates amongst households eligible for a rate adjustment by 3%. Our results p...
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作者：Sorrenti, Giuseppe; Zolitz, Ulf; Ribeaud, Denis; Eisner, Manuel
作者单位：University of Amsterdam; University of Zurich; University of Cambridge
摘要：We study the long-term effects of a randomized intervention targeting children's socio-emotional skills. The classroom-based intervention for primary school children has positive impacts that persist for over a decade. Treated children become more likely to complete academic high school and enrol in university. Two mechanisms drive these results. Treated children show fewer attention deficit/hyperactivity disorder symptoms: they are less impulsive and less disruptive. They also attain higher g...
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作者：Lee, Hyunju; Lee, Sunyoung; Paluszynski, Radoslaw
作者单位：University of Houston System; University of Houston; Seoul National University (SNU)
摘要：This article studies the effects of higher bank capital requirements. Using new firm-lender matched credit data from South Korea, we document that Basel III coincided with a 25% decline in credit from regulated banks, and an increase of similar magnitude from non-bank (shadow) lenders. We use our data to estimate the effect of capital requirements on bank credit, and the spillover effect of the reform on non-bank lending. We then build a general equilibrium model with heterogeneous banks and f...
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作者：Baqaee, David Rezza; Farhi, Emmanuel; Sangani, Kunal
作者单位：University of California System; University of California Los Angeles
摘要：How does an increase in market size, say due to globalization, affect welfare? We study this question using a model with monopolistic competition, heterogeneous markups, and fixed costs. We characterize changes in welfare and decompose changes in allocative efficiency into three different effects: (1) reallocations across firms with heterogeneous price elasticities due to intensifying competition, (2) reallocations due to the exit of marginally profitable firms, and (3) reallocations due to ch...
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作者：Galperti, Simone; Levkun, Aleksandr; Perego, Jacopo
作者单位：University of California System; University of California San Diego; Columbia University
摘要：Many e-commerce platforms use buyers' personal data to intermediate their transactions with sellers. How much value do such intermediaries derive from the data record of each single individual? We characterize this value and find that one of its key components is a novel externality between records, which arises when the intermediary pools some records to withhold the information they contain. Our analysis has several implications about compensating individuals for the use of their data, guidi...
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作者：Bochet, Olivier; Khanna, Manshu; Siegenthaler, Simon
作者单位：New York University; New York University Abu Dhabi; New York University; New York University Abu Dhabi; Peking University; Peking University Shenzhen Graduate School (PKU Shenzhen); University of Texas System; University of Texas Dallas
摘要：We design a laboratory experiment to study bargaining behaviour when negotiations involve multiple issues. Parties must discover both trading prices and agreement scopes, giving rise to unexplored information structures and bargaining strategies. We find that bargainers often trade the efficient set of issues despite lacking information about individual aspects. However, beneficial agreements critically hinge on integrated negotiations that allow deals on bundles of issues. Moreover, access to...
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作者：D'Haultfoeuille, X.; Gaillac, C.; Maurel, A.
作者单位：Institut Polytechnique de Paris; ENSAE Paris; Institut Polytechnique de Paris; University of Oxford; University of Oxford; Duke University; National Bureau of Economic Research
摘要：We study partially linear models when the outcome of interest and some of the covariates are observed in two different datasets that cannot be linked. This type of data combination problem arises very frequently in empirical microeconomics. Using recent tools from optimal transport theory, we derive a constructive characterization of the sharp identified set. We then build on this result and develop a novel inference method that exploits the specific geometric properties of the identified set....
