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作者：Atal, Juan Pablo; Fang, Hanming; Karlsson, Martin; Ziebarth, Nicolas R.
作者单位：University of Pennsylvania; National Bureau of Economic Research; National Bureau of Economic Research; University of Duisburg Essen; University of Gothenburg; University of Mannheim
摘要：German long-term health insurance (GLTHI) represents the largest market for private long-term health insurance contracts in the world. We show that GLTHI's contract design coincides with the optimal dynamic contract for individuals with constant lifetime income profiles. After estimating the key ingredients of a life-cycle model, we find that, under a variety of assumptions, GLTHI achieves welfare that is at most 4% lower than for the optimal contract. Relative to the gains of replacing short-...
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作者：Nath, Ishan
作者单位：Federal Reserve System - USA; Federal Reserve Bank - San Francisco
摘要：This paper evaluates the potential for global reallocation between agricultural and nonagricultural production to contribute to climate change adaptation. Empirical estimates using a global sample of firms suggest that rising temperatures reduce productivity less in nonagriculture than angriculture, implying large potential gains if hot countries could increase food imports and shift labor toward manufacturing. However, model counterfactuals show that subsistence consumption needs and high tra...
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作者：Delabastita, Vincent; Rubens, Michael
作者单位：Radboud University Nijmegen; University of California System; University of California Los Angeles
摘要：Empirical models of labor market competition usually assume that employers set wages noncooperatively, despite frequent allegations of collusive employer behavior. We propose an identification approach for labor market collusion that relies on production and cost data, and we use it to study how employer collusion affected wage markdowns of 227 Belgian coal firms between 1845 and 1913. We are able to detect collusion through the 1897 coal cartel without ex ante knowledge of its timing and find...
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作者：Marra, Marleen
作者单位：Institut d'Etudes Politiques Paris (Sciences Po)
摘要：This paper develops and estimates a structural auction platform model with endogenous entry of buyers and sellers to study the welfare impacts of fee changes. Estimates from a new wine auction dataset illustrate the striking feature of two-sided markets that some users can be made better off despite paying higher fees. The results also underscore the importance of addressing seller selection when endogenizing (buyer) entry onto auction platforms. Quantifying the welfare effects from (anticompe...
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作者：Fan, Ying; Yang, Chenyu
作者单位：University of Michigan System; University of Michigan; National Bureau of Economic Research; University System of Maryland; University of Maryland College Park
摘要：This paper presents a method for estimating discrete games based on bounds of conditional choice probabilities. The bounds are probabilities that an action is dominant and that it is not dominated. Because the bounds are easy to compute, our method is scalable to models with many firms and discrete decisions. We apply the method to study the effects of a hypothetical merger on firm entry and product variety in local retail craft beer markets in California. We find that the merger induces firm ...
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作者：Hemous, David; Olsen, Morten; Zanella, Carlo; Dechezlepretre, Antoine
作者单位：University of Zurich; University of Copenhagen; Organisation for Economic Co-operation & Development (OECD)
摘要：Do higher wages induce more automation innovation? We identify automation patents in machinery. We show that a higher automation intensity predicts a decline in routine tasks across US sectors. Then, we estimate how innovating firms respond to changes in their downstream firms' low- and high-skill wages. We compute these wages by combining macroeconomic data on 41 countries with innovating firms' global market exposure. Higher low-skill wages increase automation innovation (but not other machi...
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作者：Gowrisankaran, Gautam; Langer, Ashley; Zhang, Wendan
作者单位：Center for Economic & Policy Research (CEPR); Columbia University; National Bureau of Economic Research; University of Arizona; Renmin University of China
摘要：Government policy uncertainty affects irreversible decisions including technology adoption and exit. This paper quantifies uncertainty surrounding the Mercury and Air Toxics Standards (MATS). We estimate a dynamic oligopoly model for coal-fired electricity generators that recovers generators' beliefs regarding future MATS enforcement. We develop the approximate belief oligopoly equilibrium concept, where players understand that their decisions impact aggregate market states. MATS enforcement c...
