-
作者：Amiti, Mary; Itskhoki, Oleg; Konings, Jozef
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; University of California System; University of California Los Angeles; Nazarbayev University; KU Leuven; University of Liverpool
摘要：We analyze how firms choose the currency of invoicing and the implications of this choice for exchange rate pass-through into export prices and quantities. Using a new data set for Belgian firms, we find currency invoicing to be an active firm-level decision, shaped by the firm's size, exposure to imported inputs, and the currency choices of its competitors. Our results show that a firm's currency choice, in turn, has a direct causal effect on the exchange rate pass-through into prices and qua...
-
作者：Alfaro-Urena, Alonso; Manelici, Isabela; Vasquez, Jose P.
作者单位：Universidad Costa Rica; University of London; London School Economics & Political Science
摘要：We study the effects of becoming a supplier to multinational corporations (MNCs) using tax data tracking firm-to-firm transactions in Costa Rica. Event study estimates reveal that domestic firms experience strong and persistent gains in performance after supplying to a first MNC buyer. Four years after, domestic firms employ 26% more workers and have a 4% to 9% higher total factor productivity (TFP). These effects are unlikely to be explained by demand effects or changes in tax compliance. Mor...
-
作者：Clayton, Christopher; Schaab, Andreas
作者单位：Yale University; Columbia University
摘要：We study the scope for international cooperation in macroprudential policies. Multinational banks contribute to and are affected by fire sales in countries they operate in. National governments setting quantity regulations noncooperatively fail to achieve the globally efficient outcome, underregulating domestic banks and overregulating foreign banks. Surprisingly, noncooperative national governments using revenue-generating Pigouvian taxation can achieve the global optimum. Intuitively, this o...
-
作者：Alvarez, Fernando; Argente, David
作者单位：University of Chicago; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：We use three quasi-natural experiments in Mexico and one in Panama to estimate the effects of having the option to pay with cash on Uber rides. The ability to pay in cash affects the demand for rides, which is reflected in large changes in the total number of trips, fares, miles, and number of users after Uber introduced cash payments, particularly in lower-income city blocks. On the other hand, the effects on prices, estimated times of arrival, and competitor pricing are negligible, consisten...
-
作者：Adao, Rodrigo; Carrillo, Paul; Costinot, Arnaud; Donaldson, Dave; Pomeranz, Dina
作者单位：University of Chicago; George Washington University; Massachusetts Institute of Technology (MIT); University of Zurich
摘要：The earnings of individuals depend on the demand for the factor services they supply. International trade may therefore affect earnings inequality because either (i) foreign consumers and firms demand domestic factor services in different proportions than domestic consumers and firms do, an export channel; or (ii) domestic consumers and firms change their demand for domestic factor services in response to the availability of foreign goods, an import channel. Building on this idea, we develop n...
-
作者：Li, Xiaomin; Camerer, Colin F.
作者单位：California Institute of Technology
摘要：Bottom-up stimulus-driven visual salience is largely automatic, effortless, and independent of a person's top-down perceptual goals; it depends only on features of a visual stimulus. Algorithms have been carefully trained to predict stimulus-driven salience values for each pixel in any image. The economic question we address is whether these salience values help explain economic decisions. Our first experimental analysis shows that when people pick between sets of fruits that have artificially...
-
作者：Avenancio-Leon, Carlos F.; Howard, Troup
作者单位：University of California System; University of California San Diego; Utah System of Higher Education; University of Utah
摘要：We document a nationwide assessment gap that leads local governments to place a disproportionate fiscal burden on racial and ethnic minorities. We show that holding taxing jurisdictions and property tax rates fixed, Black and Hispanic residents face a 10%-13% higher tax burden for the same bundle of public services. We decompose this disparity into between- and within-neighborhood components and find that just over half of it arises between neighborhoods. We then present evidence on mechanisms...
-
作者：Exley, Christine L.; Kessler, Judd B.
作者单位：Harvard University; University of Pennsylvania
摘要：We run a series of experiments involving over 4,000 online participants and over 10,000 school-aged youth. When individuals are asked to subjectively describe their performance on a male-typed task relating to math and science, we find a large gender gap in self-evaluations. This gap arises when self-evaluations are provided to potential employers, and thus measure self-promotion, and when self-evaluations are not driven by incentives to promote. The gender gap in self-evaluations proves to be...
-
作者：Hazell, Jonathon; Herreno, Juan; Nakamura, Emi; Steinsson, Jon
作者单位：University of London; London School Economics & Political Science; University of California System; University of California San Diego; University of California System; University of California Berkeley
摘要：We estimate the slope of the Phillips curve in the cross section of U.S. states using newly constructed state-level price indices for nontradeable goods back to 1978. Our estimates indicate that the slope of the Phillips curve is small and was small even during the early 1980s. We estimate only a modest decline in the slope of the Phillips curve since the 1980s. We use a multiregion model to infer the slope of the aggregate Phillips curve from our regional estimates. Applying our estimates to ...
-
作者：Arteaga, Felipe; Kapor, Adam J.; Neilson, Ciiristopiier A.; Zimmerman, Seth D.
作者单位：University of California System; University of California Berkeley; Princeton University; National Bureau of Economic Research; Yale University
摘要：Many school districts with centralized school choice adopt strategy-proof assignment mechanisms to relieve applicants from needing to strategize based on beliefs about their own admissions chances. This article shows that beliefs about admissions chances shape choice outcomes even when the assignment mechanism is strategy-proof by influencing how applicants search for schools and that smart matching platforms that provide live feedback on admissions chances help applicants search more effectiv...
