-
作者：Marie, Olivier; Zolitz, Ulf
作者单位：Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; Maastricht University; Tinbergen Institute; IZA Institute Labor Economics; IZA Institute Labor Economics
摘要：This paper investigates how legal cannabis access affects student performance. Identification comes from an exceptional policy introduced in the city of Maastricht in the Netherlands that discriminated access via licensed cannabis shops based on an individual's nationality. We apply a difference-in-difference approach using administrative panel data on course grades of local students enrolled at Maastricht University before and during the partial cannabis prohibition. We find that the academic...
-
作者：Qu, Zhongjun; Tkachenko, Denis
作者单位：Boston University; National University of Singapore
摘要：This article presents a framework for analysing global identification in log linearized Dynamic Stochastic General Equilibrium (DSGE) models that encompasses both determinacy and indeterminacy. First, it considers a frequency domain expression for the Kullback-Leibler distance between two DSGE models and shows that global identification fails if and only if the minimized distance equals 0. This result has three features: (1) it can be applied across DSGE models with different structures; (2) i...
-
作者：Cheron, Arnaud; Decreuse, Bruno
作者单位：Universite Catholique de Lille; EDHEC Business School; Centre National de la Recherche Scientifique (CNRS); Aix-Marseille Universite
摘要：Searching for partners involves informational persistence that reduces future traders' matching probability. In this article, traders who are no longer available but who left tracks on the market are called phantoms. We examine a dynamic matching market in which phantoms are a by-product of search activity, no coordination frictions are assumed, and non-phantom traders may lose time trying to match with phantoms. The resulting aggregate matching technology features increasing returns to scale ...
-
作者：Pavoni, Nicola; Yazici, Hakki
作者单位：Bocconi University; Bocconi University; Sabanci University
摘要：We study optimal taxation of bequests and inter vivos transfers in a model where altruistic parents and their offspring disagree on intertemporal trade-offs. We show that the laissez-faire equilibrium is Pareto inefficient, and whenever offspring are impatient from their parents' perspective, optimal policy involves a positive tax on parental transfers. Cautioned by the technical complications present in this class of models, our normative prescriptions do not rely on the assumption of differe...
-
作者：Grieco, Paul L. E.; Mcdevitt, Ryan C.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Duke University
摘要：We show that healthcare providers face a tradeoff between increasing the number of patients they treat and improving their quality of care. To measure the magnitude of this quality-quantity tradeoff, we estimate a model of dialysis provision that explicitly incorporates a centre's unobservable and endogenous choice of treatment quality while allowing for unobserved differences in productivity across centres. We find that a centre that reduces its quality standards such that its expected rate o...
-
作者：Merlo, Antonio; De Paula, Aureo
作者单位：Rice University; University of London; University College London; Getulio Vargas Foundation
摘要：This article studies the non-parametric identification and estimation of voters' preferences when voters are ideological. We establish that voter preference distributions and other parameters of interest can be identified from aggregate electoral data. We also show that these objects can be consistently estimated and illustrate our analysis by performing an actual estimation using data from the 1999 European Parliament elections.
-
作者：Johnson, Justin P.
作者单位：Cornell University
摘要：I provide an analysis of vertical relations in markets with imperfect competition at both layers of the supply chain and where exchange is intermediated either with wholesale prices or revenue-sharing contracts. Revenue-sharing is extremely attractive to firms that are able to set the revenue shares but often makes the firms that set retail prices worse off. This is so whether revenue-sharing lowers or raises industry profits. These results are strengthened when a market moves from the wholesa...
-
作者：Schumacher, Heiner; Kesternich, Iris; Kosfeld, Michael; Winter, Joachim
作者单位：KU Leuven; Goethe University Frankfurt; University of Munich
摘要：We experimentally analyse distributional preferences when a decider chooses the provision of a good that benefits herself or a receiver, and creates costs for a group of payers. The treatment variation is the number of payers. We observe that subjects provide the good even if there are many payers so that the costs of provision exceed the benefits by far. This result holds regardless of whether the provision increases the decider's payoff or not. Intriguingly, it is not only selfish or maximin...
-
作者：Ifrach, Bar; Weintraub, Gabriel Y.
作者单位：Airbnb; Stanford University
摘要：In this article we introduce a new computationally tractable framework for Ericson and Pakes-style dynamic oligopoly models that overcomes the computational complexity involved in computing Markov perfect equilibrium (MPE). First, we define a new equilibrium concept that we call moment-based Markov equilibrium (MME), in which firms keep track of their own state, the detailed state of dominant firms, and few moments of the distribution of fringe firms' states. Second, we provide guidelines to u...
-
作者：Bobtcheff, Catherine; Bolte, Jerome; Mariotti, Thomas
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Universite de Toulouse; Center for Economic & Policy Research (CEPR); Leibniz Association; Ifo Institut
摘要：We propose and analyse a general model of priority races. Researchers privately have breakthroughs and decide how long to let their ideas mature before disclosing them, thereby establishing priority. Two-researcher, symmetric priority races have a unique equilibrium that can be characterized by a differential equation. We study how the shapes of the breakthrough distribution and of the returns to maturation affect maturation delays and research quality, both in dynamic and comparative statics ...
