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作者：List, John A.; Muir, Ian; Pope, Devin; Sun, Gregory
作者单位：University of Chicago; National Bureau of Economic Research; University of Chicago; Washington University (WUSTL)
摘要：Left-digit bias (or 99-cent pricing) has been discussed extensively in economics, psychology, and marketing. Despite this, we show that the rideshare company, Lyft, was not using a 99-cent pricing strategy prior to our study. Based on observational data from over 600 million Lyft sessions followed by a field experiment conducted with 21 million Lyft passengers, we provide evidence of large discontinuities in demand at dollar values. Approximately half of the downward slope of the demand curve ...
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作者：Muller, Karsten; Verner, Emil
作者单位：National University of Singapore; Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
摘要：We study the relationship between credit expansions, macroeconomic fluctuations, and financial crises using a novel database on the sectoral distribution of private credit for 117 countries since 1940. We document that, during credit booms, credit flows disproportionately to the non-tradable sector. Credit expansions to the non-tradable sector, in turn, systematically predict subsequent growth slowdowns and financial crises. In contrast, credit expansions to the tradable sector are associated ...
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作者：Hvidberg, Kristoffer B.; Kreiner, Claus T.; Stantcheva, Stefanie
作者单位：University of Copenhagen; University of Copenhagen; Center for Economic & Policy Research (CEPR); Harvard University; Center for Economic & Policy Research (CEPR)
摘要：We link survey data on Danish people's perceived income positions and fairness views on inequality within various reference groups to administrative records on their reference groups, income histories, and life events. People are, on average, well-informed about the income levels of their reference groups. Yet, lower-ranked respondents in all groups tend to overestimate their own position among others because they believe others' incomes are lower than they actually are, whereas the opposite h...
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作者：Andrews, Isaiah; Roth, Jonathan; Pakes, Ariel
作者单位：Harvard University; Brown University
摘要：We show that moment inequalities in a wide variety of economic applications have a particular linear conditional structure. We use this structure to construct uniformly valid confidence sets that remain computationally tractable even in settings with nuisance parameters. We first introduce least favorable critical values which deliver non-conservative tests if all moments are binding. Next, we introduce a novel conditional inference approach which ensures a strong form of insensitivity to slac...
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作者：Alvarez, Fernando; Borovickova, Katarina; Shimer, Robert
作者单位：University of Chicago; Federal Reserve System - USA; Federal Reserve Bank - Richmond
摘要：We develop an economic model of transitions in and out of employment. Heterogeneous workers switch employment status when the net benefit from working, a Brownian motion with drift, hits optimally chosen barriers. This implies that the duration of jobless spells for each worker has an inverse Gaussian distribution. We allow for arbitrary heterogeneity across workers and prove that the distribution of inverse Gaussian distributions is partially identified from the duration of two non-employment...
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作者：[Anonymous]
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作者：Aghion, Philippe; Bergeaud, Antonin; Boppart, Timo; Klenow, Peter J.; Li, Huiyu
作者单位：Universite PSL; College de France; INSEAD Business School; University of London; London School Economics & Political Science; Hautes Etudes Commerciales (HEC) Paris; Center for Economic & Policy Research (CEPR); Stockholm University; University of St Gallen; Stanford University; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - San Francisco
摘要：Growth has fallen in the U.S. amid a rise in firm concentration. Market share has shifted to low labour share firms, while within-firm labour shares have actually risen. We propose a theory linking these trends in which the driving force is falling overhead costs of spanning multiple products or a rising efficiency advantage of large firms. In response, the most efficient firms (with higher markups) spread into new product lines, thereby increasing concentration and generating a temporary burs...
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作者：Dupor, Bill; Karabarbounis, Marios; Kudlyak, Marianna; Mehkari, M. Saif
作者单位：Federal Reserve System - USA; Federal Reserve Bank - St. Louis; Federal Reserve System - USA; Federal Reserve Bank - Richmond; Federal Reserve System - USA; Federal Reserve Bank - San Francisco; University of Richmond
摘要：We use regional variation in the American Recovery and Reinvestment Act (2009-12) to analyse the effect of government spending on consumer spending. Our consumption data come from household-level retail purchases in the Nielsen scanner data and auto purchases from Equifax credit balances. We estimate that a $1 increase in county-level government spending increases local non-durable consumer spending by $0.29 and local auto spending by $0.09. We translate the regional consumption responses to a...
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作者：Batistich, Mary Kate; Bond, Timothy N.
作者单位：University of Notre Dame; Purdue University System; Purdue University
摘要：We assess the impact of a rapid rise in Japanese import competition on the growth in racial earnings and employment gaps during the 1970s and 80s. Using commuting zone level variation in exposure, we find Japanese competition led to a decrease in manufacturing employment and labour force participation for blacks. This was driven by a shift in demand for skill in manufacturing. The difference in effects between the 10th percentile most and least exposed commuting zone was equivalent to 36-46% o...
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作者：Daruich, Diego; Di Addario, Sabrina; Saggio, Raffaele
作者单位：European Central Bank; Bank of Italy; University of British Columbia; National Bureau of Economic Research
摘要：We combine matched employer-employee data with firms' financial records to study a 2001 Italian reform that lifted constraints on the employment of temporary contract workers while maintaining rigid employment protection regulations for employees hired under permanent contracts. Exploiting the staggered implementation of the reform across different collective bargaining agreements, we find that this policy change led to an increase in the share of temporary contracts but failed to raise employ...
