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作者：Grossman, Gene M.; Helpman, Elhanan; Sabal, Alejandro
作者单位：Princeton University; Harvard University
摘要：Forward-looking investments determine the resilience of firms' supply chains. Such investments confer externalities on other firms in the production network. We compare the equilibrium and optimal allocations in a general equilibrium model with an arbitrary number of vertical production tiers. Our model features endogenous investments in protective capabilities, endogenous formation of supply links, and sequential bargaining over quantities and payments between firms in successive tiers. We de...
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作者：Risch, Max
作者单位：Carnegie Mellon University
摘要：Debates about the taxation of business owners often center on the distributional effects of these taxes, particularly the degree to which they affect workers. Drawing on a new linked owner-firm-worker data set created from U.S. administrative tax records, I analyze how an increase in the top marginal tax rate faced by business owners affected the earnings of their employees. I use panel difference-in-differences methods to compare the earnings of workers in similar firms but whose owners were ...
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作者：Budish, Eric
作者单位：University of Chicago
摘要：Satoshi Nakamoto (2008) invented a new kind of economic system that does not need the support of government or rule of law. Trust and security instead arise from a combination of cryptography and economic incentives, all in a completely anonymous and decentralized system. This article shows that Nakamoto's novel form of trust, while undeniably ingenious, is deeply economically limited. The core argument is three equations. A zero-profit condition on the quantity of honest blockchain trust supp...
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作者：Kaufmann, Marc; Andre, Peter; Koszegi, Botond
作者单位：Goethe University Frankfurt; University of Bonn
摘要：Many consumers care about climate change and other externalities associated with their purchases. We analyze the behavior and market effects of such socially responsible consumers in three parts. First, we develop a flexible theoretical framework to study competitive equilibria with rational consequentialist consumers. In violation of price taking, equilibrium feedback nontrivially dampens the impact of a person's consumption on aggregate consumption, undermining the motive to mitigate. This l...
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作者：Campos, Christopher; Kearns, Caitlin
作者单位：University of Chicago; National Bureau of Economic Research
摘要：Does a school district that expands school choice provide better outcomes for students than a neighborhood-based assignment system? This article studies the Zones of Choice (ZOC) program, a school choice initiative of the Los Angeles Unified School District (LAUSD) that created small high school markets in some neighborhoods but left attendance zone boundaries in place throughout the rest of the district. We study market-level effects of choice on student achievement and college enrollment usi...
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作者：Shi, Maggie
作者单位：University of Chicago; National Bureau of Economic Research
摘要：This article examines the trade-offs of monitoring for wasteful public spending. By penalizing unnecessary spending, monitoring improves the quality of public expenditure and incentivizes firms to invest in compliance technology. I study a large Medicare program that monitored for unnecessary health care spending and consider its effect on government savings, provider behavior, and patient health. Every dollar Medicare spent on monitoring generated $24-$29 in government savings. The majority o...
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作者：Atkin, David; Faber, Benjamin; Fally, Thibault; Gonzalez-Navarro, Marco
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; University of California System; University of California Berkeley
摘要：We propose and implement a new approach that allows us to estimate income-specific changes in household welfare in contexts where well-measured prices are not available for important subsets of consumption. Using rich but widely available expenditure survey microdata, we show that we can recover income-specific equivalent and compensating variations from horizontal shifts in what we call relative Engel curves-as long as preferences fall within the broad quasi-separable class , . Our approach i...
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作者：Alsan, Marcella; Durvasula, Maya; Gupta, Harsh; Schwartzstein, Joshua; Williams, Heidi
作者单位：Harvard University; National Bureau of Economic Research; Stanford University; Harvard University
摘要：This article examines the consequences and causes of low enrollment of Black patients in clinical trials. We develop a simple model of similarity-based extrapolation that predicts that evidence is more relevant for decision-making by physicians and patients when it is more representative of the group being treated. This generates the key result that the perceived benefit of a medicine for a group depends not only on the average benefit from a trial but also on the share of patients from that g...
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作者：Golosov, Mikhail; Graber, Michael; Mogstad, Magne; Novgorodsky, David
作者单位：University of Chicago; National Bureau of Economic Research; Statistics Norway; University of London; London School Economics & Political Science; Australian National University
摘要：We study how Americans respond to idiosyncratic and exogenous changes in household wealth and unearned income. Our analyses combine administrative data on U.S. lottery winners with an event study design. We first examine individual and household earnings responses to these windfall gains, finding significant and sizable wealth and income effects. On average, an extra $1 of unearned income in a given period reduces household labor earnings by about 50 cents, decreases total labor taxes by 10 ce...
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作者：Chetty, Raj; Friedman, John N.; Stepner, Michael
作者单位：Harvard University; Brown University; University of Toronto
摘要：We build a publicly available database that tracks economic activity in the United States at a granular level in real time using anonymized data from private companies. We report weekly statistics on consumer spending, business revenues, job postings, and employment rates disaggregated by county, sector, and income group. Using the publicly available data, we show how the COVID-19 pandemic affected the economy by analyzing heterogeneity in its effects across subgroups. High-income individuals ...
