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作者：Abebe, Girum; Caria, A. Stefano; Fafchamps, Marcel; Falco, Paolo; Franklin, Simon; Quinn, Simon
作者单位：The World Bank; University of Warwick; Stanford University; University of Copenhagen; University of London; Queen Mary University London; University of Oxford
摘要：We show that helping young job seekers signal their skills to employers generates large and persistent improvements in their labour market outcomes. We do this by comparing an intervention that improves the ability to signal skills (the job application workshop) to a transport subsidy treatment designed to reduce the cost of job search. In the short run, both interventions have large positive effects on the probability of finding a formal job. The workshop also increases the probability of hav...
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作者：Sugaya, Takuo; Wolitzky, Alexander
作者单位：Stanford University; Massachusetts Institute of Technology (MIT)
摘要：The communication revelation principle (RP) of mechanism design states that any outcome that can be implemented using any communication system can also be implemented by an incentive-compatible direct mechanism. In multistage games, we show that in general the communication RP fails for the solution concept of sequential equilibrium (SE). However, it holds in important classes of games, including single-agent games, games with pure adverse selection, games with pure moral hazard, and a class o...
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作者：Hatfield, John William; Kominers, Scott Duke; Westkamp, Alexander
作者单位：University of Texas System; University of Texas Austin; Harvard University; Harvard University; University of Cologne
摘要：We characterize when a stable and strategy-proof mechanism is guaranteed to exist in the setting of many-to-one matching with contracts. We introduce three novel conditions-observable substitutability, observable size monotonicity, and non-manipulability via contractual terms-and show that when these conditions are satisfied, the cumulative offer mechanism is the unique mechanism that is stable and strategy-proof (for workers). Moreover, we show that our three conditions are, in a sense, neces...
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作者：Hendren, Nathaniel
作者单位：Harvard University
摘要：The willingness to pay for insurance captures the value of insurance against only the risk that remains when choices are observed. This article develops tools to measure the ex ante expected utility impact of insurance subsidies and mandates when choices are observed after some insurable information is revealed. The approach retains the transparency of using reduced-form willingness to pay and cost curves, but it adds one additional sufficient statistic: the percentage difference in marginal u...
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作者：Silver, David
作者单位：Princeton University; National Bureau of Economic Research
摘要：Motivated by wide cross-sectional variations in intensity of care that are unrelated to quality of care, researchers and policymakers commonly claim that healthcare providers waste considerable resources, engaging in so-called flat-of-the-curve medicine. A key yet elusive prediction of this hypothesis is that providers ought to be able to cut back on care without sacrificing quality. This article examines the effects of a particular form of provider cutbacks-those generated by physicians worki...
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作者：Grossman, Gene M.; Helpman, Elhanan
作者单位：Princeton University; Harvard University; Canadian Institute for Advanced Research (CIFAR)
摘要：We characterize trade policies that result from political competition when assessments of well-being include both material and psychosocial components. The material component reflects, as usual, satisfaction from consumption. Borrowing from social identity theory, we take the psychosocial component as combining the pride and self-esteem an individual draws from the status of groups with which she identifies and a dissonance cost she bears from identifying with those that are different from her...
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作者：Herrendorf, Berthold; Rogerson, Richard; Valentinyi, Akos
作者单位：Arizona State University; Arizona State University-Tempe; Princeton University; National Bureau of Economic Research; University of Manchester; Centre for Economic Policy Research - UK
摘要：The structural-change literature typically assumes that investment is produced in manufacturing. We establish that this assumption is counterfactual: in the postwar U.S., the share of services value added in investment expenditure has been steadily growing. We develop a new model that features structural change in investment and consumption, characterize its equilibrium properties, and provide empirical support for it. We establish that modelling structural change in investment leads to three ...
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作者：Asriyan, Vladimir; Fornaro, Luca; Martin, Alberto; Ventura, Jaume
作者单位：Pompeu Fabra University; Centre de Recerca en Economia Internacional (CREI); Barcelona School of Economics; Centre de Recerca en Economia Internacional (CREI)
摘要：What is the role of monetary policy in a bubbly world? To address this question, we study an economy in which financial frictions limit the supply of assets. The ensuing scarcity generates a demand for unbacked assets, i.e., assets that are backed only by the expectation of their future value. We consider two types of unbacked assets: bubbles, which are created by the private sector, and money, which is created by the central bank. Bubbles and money share many features, but they also differ in...
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作者：Henderson, J. Vernon; Regan, Tanner; Venables, Anthony J.
作者单位：University of London; London School Economics & Political Science; University of Oxford; Monash University
摘要：We model the building of a city, estimate parameters of the model, and calculate welfare losses from institutional frictions encountered in changing land-use. We distinguish formal and slum construction technologies; in contrast to slums, formal structures can be built tall, are durable, and non-malleable. As the city grows areas are initially developed informally, then formally, and then redeveloped periodically. Slums are modelled as a technology choice; however, institutional frictions in l...
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作者：Fogli, Alessandra; Veldkamp, Laura
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; Columbia University
摘要：Does the pattern of social connections between individuals matter for macroeconomic outcomes? If so, where do differences in these patterns come from and how large are their effects? Using network analysis tools, we explore how different social network structures affect technology diffusion and thereby a country's rate of growth. The correlation between high-diffusion networks and income is strongly positive. But when we use a model to isolate the effect of a change in social networks on growt...
