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作者：Sutter, Matthias; Haigner, Stefan; Kocher, Martin G.
作者单位：University of Innsbruck; University of Gothenburg; University of Munich
摘要：We analyse an experimental public goods game in which group members can endogenously determine whether they want to supplement a standard voluntary contribution mechanism with the possibility of rewarding or punishing other group members. We find a significantly positive effect of endogenous institutional choice on the level of cooperation in comparison to the same exogenously implemented institutions. This suggests that participation rights enhance cooperation in groups. With endogenous choic...
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作者：Van Nieuwerburgh, Stijn; Weill, Pierre-Olivier
作者单位：New York University; National Bureau of Economic Research; University of California System; University of California Los Angeles
摘要：We set up and solve a spatial, dynamic equilibrium model of the housing market based on two main assumptions: households with heterogenous abilities flow in and out metropolitan areas in response to local wage shocks, and the housing supply cannot adjust instantly because of regulatory constraints. In our equilibrium, house prices compensate for cross-sectional productivity differences. We increase productivity dispersion in the calibrated model in order to match the 30-year increase in cross-...
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作者：Alan, Sule; Browning, Martin
作者单位：University of Cambridge; University of Oxford
摘要：We present a novel structural estimation procedure for models of intertemporal allocation. This is based on modelling expectations errors directly; we refer to it as synthetic residual estimation (SRE). The flexibility of SRE allows us to account for measurement error in consumption and for heterogeneity in intertemporal allocation parameters. An investigation of the small sample properties of the SRE estimator indicates that it dominates generalized method of moments (GMM) estimation of both ...
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作者：Krusell, Per; Mukoyama, Toshihiko; Sahin, Ayseguel
作者单位：National Bureau of Economic Research; University of Virginia; Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：We analyse a Bewley-Huggett-Aiyagari incomplete-markets model with labour-market frictions. Consumers are subject to idiosyncratic employment shocks against which they cannot insure directly. The labour market has a Diamond-Mortensen-Pissarides structure: firms enter by posting vacancies and match with workers bilaterally, with match probabilities given by an aggregate matching function. Wages are determined through Nash bargaining. We also consider aggregate productivity shocks and a complete...
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作者：Browning, Martin; Ejrnaes, Mette; Alvarez, Javier
作者单位：University of Oxford; University of Copenhagen
摘要：We model earnings processes allowing for lots of heterogeneity across agents. We also introduce an extension to the linear ARMA model which allows the initial convergence in the long run to be different from that implied by the conventional ARMA model. This is particularly important for unit root tests, which are actually tests of a composite of two independent hypotheses. We fit to a variety of statistics including most of those considered by previous investigators. We use a sample drawn from...
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作者：Mueller, Ulrich K.; Petalas, Philippe-Emmanuel
作者单位：Princeton University
摘要：The paper investigates inference in non-linear and non-Gaussian models with moderately time-varying parameters. We show that for many decision problems, the sample information about the parameter path can be summarized by an artificial linear and Gaussian model, at least asymptotically. The approximation allows for computationally convenient path estimators and parameter stability tests. Also, in contrast to standard Bayesian techniques, the artificial model can be robustified so that in missp...
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作者：Anderson, Siwan; Ray, Debraj
作者单位：University of British Columbia; New York University
摘要：Relative to developed countries and some parts of the developing world, most notably sub-Saharan Africa, there are far fewer women than men in India and China. It has been argued that as many as a 100 million women could be missing. The possibility of gender bias at birth and the mistreatment of young girls are widely regarded as key explanations. We provide a decomposition of these missing women by age and cause of death. While we do not dispute the existence of severe gender bias at young ag...
