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作者：Hoderlein, Stefan; Holzmann, Hajo; Kasy, Maximilian; Meister, Alexander
作者单位：Boston College; Philipps University Marburg; Harvard University; University of Rostock
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作者：Martimort, David; Semenov, Aggey; Stole, Lars
作者单位：Paris School of Economics; University of Ottawa; University of Chicago
摘要：We develop a theory of contracts with limited enforcement in the context of a dynamic relationship. The seller is privately informed on his persistent cost, while the buyer remains uninformed. Public enforcement relies on remedies for breaches. Private enforcement comes from terminating the relationship. We first characterize enforcement constraints under asymmetric information. Those constraints ensure that parties never breach contracts. In particular, a high-cost seller may be tempted to tr...
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作者：Lindenlaub, Ilse
作者单位：Yale University
摘要：This article studies multidimensional matching between workers and jobs. Workers differ in manual and cognitive skills and sort into jobs that demand different combinations of these two skills. To study this multidimensional sorting problem, I develop a theoretical framework that generalizes the unidimensional notion of assortative matching and sufficient conditions on the technology under which sorting obtains. I derive the equilibrium in closed form and use this explicit solution to study bi...
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作者：Braun, R. Anton; Kopecky, Karen A.; Koreshkova, Tatyana
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Atlanta; Concordia University - Canada; Universite de Montreal
摘要：All individuals face some risk of ending up old, sick, alone, and poor. Is there a role for social insurance for these risks and, if so, what is a good programme? A large literature has analysed the costs and benefits of pay-as-you-go public pensions and found that the costs exceed the benefits. This article, instead, considers means-tested social insurance (MTSI) programmes for retirees such as Medicaid and Supplemental Security Income. We find that the welfare gains from these programmes are...
