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作者：Heller, Yuval; Mohlin, Erik
作者单位：Bar Ilan University; Lund University
摘要：We study environments in which agents are randomly matched to play a Prisoner's Dilemma, and each player observes a few of the partner's past actions against previous opponents. We depart from the existing related literature by allowing a small fraction of the population to be commitment types. The presence of committed agents destabilizes previously proposed mechanisms for sustaining cooperation. We present a novel intuitive combination of strategies that sustains cooperation in various envir...
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作者：Caliendo, Lorenzo; Parro, Fernando; Rossi-Hansberg, Esteban; Sarte, Pierre-Daniel
作者单位：Yale University; Johns Hopkins University; Princeton University; Federal Reserve System - USA; Federal Reserve Bank - Richmond
摘要：We study the impact of intersectoral and interregional trade linkages in propagating disaggregated productivity changes to the rest of the economy. Using U.S. regional and industry data, we obtain the aggregate, regional and sectoral elasticities of measured total factor productivity, GDP, and employment to regional and sectoral productivity changes. We find that the elasticities vary significantly depending on the sectors and regions affected, and are importantly determined by the spatial str...
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作者：Taubinsky, Dmitry; Rees-Jones, Alex
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; University of Pennsylvania
摘要：This article shows that accounting for variation in mistakes can be crucial for welfare analysis. Focusing on consumer under-reaction to not-fully-salient sales taxes, we show theoretically that the efficiency costs of taxation are amplified by differences in under-reaction across individuals and across tax rates. To empirically assess the importance of these issues, we implement an online shopping experiment in which 2,998 consumers purchase common household products, facing tax rates that va...
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作者：Fu, Chao; Wolpin, Kenneth, I
作者单位：University of Wisconsin System; University of Wisconsin Madison; Rice University; University of Pennsylvania
摘要：We develop a model of crime in which the number of police, the crime rate, the arrest rate, the employment rate, and the wage rate are joint outcomes of a subgame perfect Nash equilibrium. The local government chooses the size of its police force and citizens choose among work, home, and crime alternatives. We estimate the model using metropolitan statistical area (MSA)-level data. We use the estimated model to examine the effects on crime of targeted federal transfers to local governments to ...
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作者：Anagol, Santosh; Balasubramaniam, Vimal; Ramadorai, Tarun
作者单位：University of Pennsylvania; University of Warwick; Imperial College London; Centre for Economic Policy Research - UK
摘要：We study a unique field experiment in India in which 1.5 million stock investors face lotteries for the random allocation of shares. We find that the winners of these randomly assigned initial public offering (IPO) lottery shares are significantly more likely to hold them than lottery losers 1, 6, and even 24 months after the random allocation. This finding strongly evokes laboratory findings of an endowment effect for risky gambles, and persists in samples of highly active investors, suggesti...
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作者：Gratton, Gabriele; Holden, Richard; Kolotilin, Anton
摘要：Sender, who is either good or bad, wishes to look good at an exogenous deadline. Sender privately observes if and when she can release a public flow of information about her private type. Releasing information earlier exposes to greater scrutiny, but signals credibility. In equilibrium bad Sender releases information later than good Sender. We find empirical support for the dynamic predictions of our model using data on the timing of U.S. presidential scandals and U.S. initial public offerings...
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作者：Lessem, Rebecca
作者单位：Carnegie Mellon University
摘要：In this article, I study how relative wages and border enforcement affect immigration from Mexico to the U.S. To do this, I develop a discrete choice dynamic programming model where people choose from a set of locations in both the U.S. and Mexico, while accounting for the location of one's spouse when making decisions. I estimate the model using data on individual immigration decisions from the Mexican Migration Project. Counterfactuals show that a 10% increase in Mexican wages reduces migrat...
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作者：Karantounias, Anastasios G.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Atlanta
摘要：I study the implications of recursive utility, a popular preference specification in macro-finance, for the design of optimal fiscal policy. Standard Ramsey tax-smoothing prescriptions are substantially altered. The planner over-insures by taxing less in bad times and more in good times, mitigating the effects of shocks. At the intertemporal margin, there is a novel incentive for introducing distortions that can lead to an ex-ante capital subsidy. Overall, optimal policy calls for a much stron...
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作者：Amodio, Francesco; Martinez-Carrasco, Miguel A.
作者单位：McGill University; Universidad de los Andes - Chile; Universidad de Piura
摘要：This article shows how input heterogeneity triggers productivity spillovers at the workplace. In an egg production plant in rural Peru, workers produce output combining effort with inputs of heterogeneous quality. Exploiting variation in the productivity of inputs assigned to workers, we find evidence of a negative causal effect of an increase in coworkers' daily output on own output and its quality. We show theoretically and suggest empirically that the effect captures free riding among worke...
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作者：Roberts, Mark J.; Xu, Daniel Yi; Fan, Xiaoyan; Zhang, Shengxing
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; National Bureau of Economic Research; Duke University; Fudan University; University of London; London School Economics & Political Science
摘要：In this article, we use micro data on both trade and production for a sample of large Chinese manufacturing firms in the footwear industry from 2002 to 2006 to estimate an empirical model of export demand, pricing, and market participation by destination market. We use the model to construct indexes of firm-level demand, marginal cost, and fixed cost. The empirical results indicate substantial firm heterogeneity in all three dimension with demand being the most dispersed. The firm-specific dem...
