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作者：Colonnelli, Emanuele; Gormsen, Niels Joachim; McQuade, Tim
作者单位：University of Chicago; University of California System; University of California Berkeley
摘要：We study how perceptions of corporate responsibility influence policy preferences and the effectiveness of corporate communication when agents have imperfect memory recall. Using a new large-scale survey of U.S. citizens on their support for corporate bailouts, we first establish that the public demands corporations to behave better within society, a sentiment we label big business discontent. Using random variation in the order of survey sections and in the exposure to animated videos, we the...
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作者：Huneeus, Federico; Rogerson, Richard
作者单位：Duke University; Central Bank of Chile; Princeton University
摘要：Industrialization experiences differ substantially across countries. We use a benchmark model of structural change to shed light on the sources of this heterogeneity and, in particular, the phenomenon of premature deindustrialization. Our analysis leads to three key findings. First, benchmark models of structural change robustly generate hump-shaped patterns for the evolution of the industrial sector. Second, heterogeneous patterns of catch-up in sectoral productivities across countries can ge...
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作者：Bailey, Marthaj J.; Hoynes, Hilary; Rossin-Slater, Maya; Walker, Reed
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research; University of California System; University of California Berkeley; Stanford University
摘要：We use novel, large-scale data on 17.5 million Americans to study how a policy-driven increase in economic resources affects children's long-term outcomes. Using the 2000 Census and 2001-13 American Community Survey linked to the Social Security Administration's NUMIDENT, we leverage the county-level rollout of the Food Stamps program between 1961 and 1975. We find that children with access to greater economic resources before age five have better outcomes as adults. The treatment-on-the-treat...
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作者：Cole, Harold L.; Krueger, Dirk; Mailath, George J.; Park, Yena
作者单位：University of Pennsylvania; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR); Australian National University; Seoul National University (SNU)
摘要：We analyse efficient risk-sharing arrangements when the value from deviating is determined endogenously by another risk-sharing arrangement. Coalitions form to insure against idiosyncratic income risk. Self-enforcing contracts for both the original coalition and any coalition formed (joined) after deviations rely on a belief in future cooperation which we term trust. We treat the contracting conditions of original and deviation coalitions symmetrically and show that higher trust tightens incen...
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作者：Gieczewski, German; Kosterina, Svetlana
作者单位：Princeton University; Amazon.com
摘要：We study policy experimentation in organizations with endogenous membership. An organization decides when to stop a policy experiment based on its results. As information arrives, agents update their beliefs, and enter or leave the organization based on their expected flow payoffs. Unsuccessful experiments make all agents more pessimistic, but also drive out conservative members. We identify sufficient conditions under which the latter effect dominates, leading to excessive experimentation. In...
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作者：Eeckhout, Jan; Sepahsalari, Alireza
作者单位：Pompeu Fabra University; University of Bristol
摘要：We propose a theory that analyzes how a workers' asset holdings affect their job productivity. In a labor market with uninsurable risk, workers choose to direct their job search trading off productivity and wages against unemployment risk. Workers with low asset holdings have a precautionary job search motive, they direct their search to low productivity jobs because those offer a low risk at the cost of low productivity and a low wage. Our main theoretical contribution shows that the presence...
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作者：Garin, Andrew; Silverio, Filipe
作者单位：Carnegie Mellon University; National Bureau of Economic Research; Banco de Portugal
摘要：Do firms adjust wages in response to changes in their own demand level or to changes in competitive pressure from rival employers? We study how exporters adjust wages in response to unexpected product demand shocks during the 2008-9 Great Recession. Using rich data on Portuguese firms' pre-recession export shipments, we measure firm-level shocks to export demand during the Recession. We show that shocks constructed at the firm level are not necessarily firm-specific and can be decomposed into ...
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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：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...
