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作者：Mui, Preston; Schoefer, Benjamin
作者单位：University of California System; University of California Berkeley; University of California System; University of California Berkeley
摘要：We measure desired labour supply at the extensive (employment) margin in two representative surveys of the U.S. and German populations. We elicit reservation raises: the percent wage change that renders a given individual indifferent between employment and nonemployment. It is equal to her reservation wage divided by her actual, or potential, wage. The reservation raise distribution is the nonparametric aggregate labour supply curve. Locally, the curve exhibits large short-run elasticities abo...
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作者：Ashlagi, Itai; Monachou, Faidra; Nikzad, Afshin
作者单位：Stanford University; Yale University; University of Southern California
摘要：We study non-monetary markets where objects that arrive over time are allocated to unit-demand agents with private types, such as in the allocation of public housing or deceased-donor organs. An agent's value for an object is supermodular in her type and the object quality, and her payoff is her value minus her waiting cost. The social planner's objective is a weighted sum of allocative efficiency (i.e. the sum of values) and welfare (i.e. the sum of payoffs). We identify optimal mechanisms in...
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作者：Mogstad, Magne; Romano, Joseph P.; Shaikh, Azeem M.; Wilhelm, Daniel
作者单位：University of Chicago; Stanford University; University of Chicago; University of London; University College London
摘要：It is often desired to rank different populations according to the value of some feature of each population. For example, it may be desired to rank neighbourhoods according to some measure of intergenerational mobility or countries according to some measure of academic achievement. These rankings are invariably computed using estimates rather than the true values of these features. As a result, there may be considerable uncertainty concerning the rank of each population. In this paper, we cons...
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作者：Cole, Harold L.; Neuhann, Daniel; Ordonez, Guillermo
作者单位：University of Pennsylvania; University of Texas System; University of Texas Austin
摘要：We develop a theory of information spillovers in sovereign bond markets in which investors can learn about default risk before trading in primary and secondary markets. If primary markets are structured as multi-unit discriminatory-price auctions, an endogenous winner's curse leads to strategic complementarities in information acquisition. Shocks to default risk in one country may trigger crisis episodes with widespread information acquisition, sharp increases in the level and volatility of yi...
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作者：[Anonymous]
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作者：Faia, Ester; Pezone, Vincenzo
作者单位：Goethe University Frankfurt; Tilburg University
摘要：Private efficiency of wage rigidity has taken centre stage in economics. Measuring its effects has proven elusive for lack of actual wage data. Using a unique confidential labour contract-level dataset matched with firm-level high-frequency asset prices, we find robust evidence that firms' stock prices and employment fluctuate more in response to monetary policy announcements, the higher the degree of wage rigidity. Hand-collected information on the periods across renegotiations of collective ...
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作者：Tebaldi, Pietro
作者单位：Columbia University; National Bureau of Economic Research
摘要：Regulations to design private yet publicly sponsored health insurance markets are increasingly adopted in many OECD countries. Here I combine data and economic theory to analyse the interaction between insurers' competition and the design of premium subsidies in determining equilibrium outcomes. My empirical model includes adverse selection, rich heterogeneity in preferences for vertically and horizontally differentiated plans and accommodates alternative assumptions on pricing conduct. In the...
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作者：Mogstad, Magne
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作者：Casey, Gregory
作者单位：Williams College
摘要：I develop a directed technical change model of economic growth and energy efficiency in order to study the impact of climate change mitigation policies on energy use. I show that the standard Cobb-Douglas production function used in the environmental macroeconomics literature overstates the reduction in cumulative energy use that can be achieved with a given path of energy taxes. I also show that, in the model, the government combines energy taxes with research and development (R&D) policy tha...
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作者：Sauvagnat, Julien; Schivardi, Fabiano
作者单位：Bocconi University; Luiss Guido Carli University
摘要：Using exhaustive administrative data on Italian social security records, we construct measures of local labour market thickness for executives that vary by industry and location. We show that firm performance is strongly and persistently affected by executive death, but only in thin local labour markets. The new executives hired after death events in thin local labour markets have lower education levels and are more likely to be replaced. These predictions are consistent with a simple model of...
