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作者：Alesina, Alberto; Miano, Armando; Stantcheva, Stefanie
作者单位：Centre for Economic Policy Research - UK; Bocconi University; National Bureau of Economic Research
摘要：Does immigration change support for redistribution? We design and conduct large-scale surveys and experiments in six countries to investigate how people perceive immigrants and how these perceptions influence their support for redistribution. We find striking misperceptions about the number and characteristics of immigrants. In all countries, respondents greatly overestimate the total number of immigrants, think immigrants are culturally and religiously more distant from them, and economically...
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作者：Farboodi, Maryam; Jarosch, Gregor; Shimer, Robert
作者单位：Massachusetts Institute of Technology (MIT); Princeton University; University of Chicago
摘要：We study a model of over-the-counter trading in which ex ante identical traders invest in a contact technology and participate in bilateral trade. We show that a rich market structure emerges both in equilibrium and in an optimal allocation. There is continuous heterogeneity in market access under weak regularity conditions. If the cost per contact is constant, heterogeneity is governed by a power law and there are middlemen, market participants with unboundedly high contact rates who account ...
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作者：Keister, Todd; Sanches, Daniel
作者单位：Rutgers University System; Rutgers University New Brunswick; Federal Reserve System - USA; Federal Reserve Bank - Philadelphia
摘要：We study how introducing a central bank digital currency affects equilibrium allocations and welfare in an environment where both currency and bank deposits are used in exchange. We highlight an important policy tradeoff: while a digital currency tends to improve efficiency in exchange, it may also crowd out bank deposits, raise banks' funding costs, and decrease investment. We derive conditions under which targeted digital currencies, which compete only with physical currency or only with ban...
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作者：Bornstein, Gideon; Krusell, Per; Rebelo, Sergio
作者单位：University of Pennsylvania; National Bureau of Economic Research; Centre for Economic Policy Research - UK; Northwestern University
摘要：We use new, comprehensive micro data on oil fields to build and estimate a structural model of the oil industry embedded in a general equilibrium model of the world economy. In the model, firms that belong to Organization of the Petroleum Exporting Countries (OPEC) act as a cartel. The remaining firms are a competitive fringe. We use the model to study the macroeconomic impact of the advent of fracking. Fracking weakens the OPEC cartel, leading to a large long-run decline in oil prices. Fracki...
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作者：Nekoei, Arash; Seim, David
作者单位：Stockholm University; Centre for Economic Policy Research - UK; Stockholm University; Uppsala University
摘要：This article aims to measure and understand the role of inheritances in shaping wealth inequality. We use a quasi-experimental design and Swedish administrative data to document that the average heir depletes her inheritance within a decade while the inheritances of wealthy heirs remain intact. These different depletion rates are not due to different consumption or labour supply responses but due to different rates of return on inherited wealth. Upon their receipt, inheritances reduce relative...
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作者：Bellemare, Charles; Sebald, Alexander
作者单位：Laval University; Copenhagen Business School
摘要：We derive bounds on the causal effect of belief-dependent preferences (reciprocity and guilt aversion) on choices in sequential two-player games without data on the (higher-order) beliefs of players. We show how informative bounds can be derived by exploiting a specific invariance property common to those preferences. We illustrate our approach by analysing data from an experiment conducted in Denmark. Our approach produces tight bounds on the causal effect of reciprocity in the games we consi...
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作者：Galle, Simon; Rodriguez-Clare, Andres; Yi, Moises
作者单位：BI Norwegian Business School; University of California System; University of California Berkeley; National Bureau of Economic Research
摘要：We develop a multi-sector gravity model with heterogeneous workers to quantify the aggregate and group-level welfare effects of trade. The model generalizes the specific-factors intuition to a setting with labour reallocation, leads to a parsimonious formula for the group-level welfare effects from trade, and nests the aggregate results in Arkolakis, Costinot and Rodriguez-Clare (2012, New Trade Models, Same Old Gains?, American Economic Review, 102, 94-130). We estimate the model using the st...
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作者：Kowalski, Amanda E.
作者单位：University of Michigan System; University of Michigan
摘要：Mammography guidelines have weakened in response to evidence that mammograms diagnose breast cancers that would never eventually cause symptoms, a phenomenon called overdiagnosis. Given concerns about overdiagnosis, instead of recommending mammograms, US guidelines encourage women aged 40-49 to get them as they see fit. To assess whether these guidelines target women effectively, I propose an approach that examines mammography behaviour within an influential clinical trial that followed partic...
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作者：Beuermann, Diether W.; Jackson, C. Kirabo; Navarro-Sola, Laia; Pardo, Francisco
作者单位：Inter-American Development Bank; Northwestern University; Stockholm University; University of Texas System; University of Texas Austin
摘要：To explore whether schools' causal impacts on test scores measure their overall impact on students, we exploit plausibly exogenous school assignments and data from Trinidad and Tobago to estimate the causal impacts of individual schools on several outcomes. Schools' impacts on high-stakes tests are weakly related to impacts on important outcomes such as arrests, dropout, teen motherhood, and formal labour market participation. To examine if parents' school preferences are related to these caus...
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作者：Dasaratha, Krishna
作者单位：Yale University
摘要：We study a model of innovation with a large number of firms that create new technologies by combining several discrete ideas. These ideas are created via private investment and spread between firms. Firms face a choice between secrecy, which protects existing intellectual property, and openness, which facilitates learning from others. Their decisions determine interaction rates between firms, and these interaction rates enter our model as link probabilities in a learning network. Higher intera...
