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作者：Adda, Jerome; Pinotti, Paolo; Tura, Giulia
作者单位：Bocconi University; University of Milano-Bicocca
摘要：We analyze the contribution of legal status incentives on the marriage choices of natives and migrants. Access to legal status reduces the probability of immigrants intermarrying with natives by 40% and increases the hazard rate of separation for intermarriages by 20%. We develop and estimate a multidimensional equilibrium model of marriage, fertility, and separation, where individuals match on observed and unobserved characteristics. Allowing for trade-offs between cultural distance, legal st...
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作者：Santacreu, Ana Maria
作者单位：Federal Reserve System - USA
摘要：I develop a quantitative theory of bilateral trade agreements with intellectual property (IP) provisions in a multicountry growth model. The model's dynamics are driven by innovation and technology licensing. Imperfect IP enforcement leads to reduced royalty payments and growth. Governments negotiate tariffs and IP enforcement through Nash bargaining. Gains from the trade agreement vary along the transition. Developing countries experience short-term losses, while developed countries gain in b...
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作者：Flinn, Christopher J.; Todd, Petra E.; Zhang, Weilong
作者单位：New York University; Collegio Carlo Alberto; National Bureau of Economic Research; University of Pennsylvania; IZA Institute Labor Economics; University of Cambridge
摘要：This paper examines the effects of the Big Five personality traits on labor market outcomes and gender wage gaps using a job search and bargaining model with parameters that vary at the individual level. The analysis, based on German panel data, reveals that both cognitive and noncognitive traits significantly influence wages and employment outcomes. Higher conscientiousness and emotional stability and lower agreeableness levels enhance earnings and job stability for both genders. Differences ...
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作者：Wolf, Christian K.
作者单位：Massachusetts Institute of Technology (MIT)
摘要：I derive a general condition on consumer behavior ensuring that, in a standard model of demand-determined output, any path of inflation and output that is implementable via interest rate policy is also implementable through time-varying uniform transfers. In an analytical model with occasionally binding borrowing constraints, my condition holds generically. In a quantitative heterogeneous-agent model, the transfer policy that closes any given demand shortfall is furthermore well characterized ...
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作者：Kolotilin, Anton; Corrao, Roberto; Wolitzky, Alexander
作者单位：University of New South Wales Sydney; Massachusetts Institute of Technology (MIT)
摘要：We consider general Bayesian persuasion problems where the receiver's utility is single-peaked in a one-dimensional action. We show that a signal that pools at most two states in each realization is always optimal and that such pairwise signals are the only solutions under a nonsingularity condition on utilities. Our core results provide conditions under which the induced receiver action is single-dipped or single-peaked on each set of nested signal realizations. We also provide conditions for...
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作者：Greenwald, Daniel L.; Lettau, Martin; Ludvigson, Sydney C.
作者单位：New York University; National Bureau of Economic Research; University of California System; University of California Berkeley; New York University; Center for Economic & Policy Research (CEPR)
摘要：Why does the stock market rise and fall? From 1989 to 2017, the real per capita value of corporate equity increased at a 7.2% annual rate. We estimate that 40% of this increase was attributable to a reallocation of rewards to shareholders in a decelerating economy, primarily at the expense of labor compensation. Economic growth accounted for just 25% of the increase, followed by a lower risk price (21%) and lower interest rates (14%). The period 1952-88 experienced only one-third as much growt...
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作者：Neumeyer, Pablo Andres; Nicolini, Juan Pablo
作者单位：Universidad Torcuato Di Tella; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
