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作者：Kehoe, Patrick J.; Lopez, Pierlauro; Midrigan, Virgiliu; Pastorino, Elena
作者单位：Stanford University; Federal Reserve System - USA; Federal Reserve Bank - Cleveland; New York University; Stanford University; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
摘要：Recent work has demonstrated that existing solutions of the unemployment volatility puzzle are at odds with the procylicality of the opportunity cost of employment, the cyclicality of wages, and the volatility of risk-free rates. We propose a model of business cycles that is immune to these critiques by incorporating two key features. First, we allow for preferences that generate time-varying risk over the business cycle to account for observed fluctuations in asset prices. Second, we introduc...
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作者：Collado, M. Dolores; Ortuno-Ortin, Ignacio; Stuhler, Jan
作者单位：Universitat d'Alacant; Universidad Carlos III de Madrid
摘要：We quantify intergenerational and assortative processes by comparing different degrees of kinship within the same generation. This horizontal approach yields more, and more distant kinship moments than traditional methods, which allows us to account for the transmission of latent advantages in a detailed intergenerational model. Using Swedish registers, we find strong persistence in the latent determinants of status, and a striking degree of sorting-to explain the similarity of distant kins, a...
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作者：Jager, Simon; Schoefer, Benjamin; Zweimuller, Josef
作者单位：Massachusetts Institute of Technology (MIT); IZA Institute Labor Economics; University of California System; University of California Berkeley; University of Zurich
摘要：We present a test of Coasean theories of efficient separations. We study a cohort of jobs from the introduction through the repeal of a large age- and region-specific unemployment benefit extension in Austria. In the treatment group, 18.5% fewer jobs survive the program period. According to the Coasean view, the destroyed marginal jobs had low joint surplus. Hence, after the repeal, the treatment survivors should be more resilient than the ineligible control group survivors. Strikingly, the tw...
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作者：Wasserman, Melanie
作者单位：University of California System; University of California Los Angeles
摘要：Do the long work hours required by many high-paying professions inhibit the entry of women? I investigate this question by studying a 2003 policy that capped the average workweek for medical residents at 80 hours. Using data on the universe of US medical school graduates, I find that when a specialty reduces its weekly hours, more women enter the specialty, whereas there is little change in men's entry. I provide evidence that the increase in women is due to changes in labour supply, rather th...
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作者：Moraga-Gonzalez, Jose Luis; Sandor, Zsolt; Wildenbeest, Matthijs R.
作者单位：Vrije Universiteit Amsterdam; Tinbergen Institute; IMT - Institut Mines-Telecom; Institut Polytechnique de Paris; Telecom Paris; Centre for Economic Policy Research - UK; Leibniz Association; Ifo Institut; Sapientia Hungarian University of Transylvania; Babes Bolyai University from Cluj; University of Arizona
摘要：This article develops a discrete choice model of demand with optimal sequential consumer search. Consumers first choose a product to search; then, once they learn the utility they get from the searched product, they choose whether to buy it or to keep searching. We characterize the search problem as a standard discrete choice problem and propose a parametric search cost distribution that generates closed-form expressions for the probability of purchasing a product. We propose a method to estim...
