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作者：Nocke, Volker; Rey, Patrick
作者单位：University of Mannheim; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics
摘要：We develop a model of within-firm sequential, directed search and study a firm's ability and incentive to steer consumers. We find that the firm often benefits from adopting a noisy positioning strategy, which limits the information available to consumers. This induces consumers to keep searching but discourages some of them from visiting the firm. This occurs even though the firm and the consumers have in common an interest in maximizing the probability of trade. Because of such noisy positio...
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作者：Blum, Bernardo S.; Claro, Sebastian; Horstmann, Ignatius; Rivers, David A.
作者单位：University of Toronto; Universidad de los Andes (Colombia); Western University (University of Western Ontario)
摘要：We develop a novel methodology for disentangling the demand and cost drivers of firm heterogeneity when firms sort themselves into different markets, and we apply it to export status differences. Our methodology results in joint estimates of firm-level productivity and of markups in every market, without imposing functional form restrictions on demand. We find that exporters, relative to nonexporters, (i) have flatter domestic demand curves-thicker domestic markets-and (ii) have higher demand ...
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作者：Nirei, Makoto; Scheinkman, Jose A.
作者单位：University of Tokyo; Princeton University; National Bureau of Economic Research
摘要：We present a menu-cost pricing model with a large but finite number n of firms. A firm's nominal price increase lowers other firms' relative prices, thereby inducing further nominal price increases. The distribution of these repricing avalanches converges as n ->infinity to a mixture of generalized Poisson distributions with an indexofdispersion=1/(1-theta)2, where theta is determined by the equilibrium of the continuous limit. We calibrate the model to the US experience during 1988-2005 and o...
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作者：Demir, Banu; Fieler, Ana Cecilia; Xu, Daniel Yi; Yang, Kelly Kaili
作者单位：University of Oxford; Ihsan Dogramaci Bilkent University; Centre for Economic Policy Research - UK; Yale University; National Bureau of Economic Research; Duke University; Indiana University System; Indiana University Bloomington
摘要：We document strong skill matching in Turkish firms' production networks. Additionally, in the data, export demand shocks from rich countries increase firms' skill intensity and their trade with skill-intensive domestic partners. We explain these patterns using a quantitative model with heterogeneous firms, quality choices, and endogenous networks. A counterfactual economy-wide export demand shock of 5% leads both exporters and nonexporters to upgrade quality, raising the average wage by 1.2%. ...
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作者：Rotberg, Shahar; Steinberg, Joseph B.
作者单位：University of Toronto
摘要：Wealth inequality has prompted calls for higher taxes on capital income and wealth but also concerns that rich households would respond by concealing their assets offshore. We use a general equilibrium model to study how taxing capital more heavily would affect offshore tax evasion and how this would affect the broader economy. Without evasion, tax revenue could be increased dramatically, inequality could be reduced, and widespread welfare gains could be achieved. After accounting for evasion,...
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作者：Berlinski, Samuel; Ferreyra, Maria Marta; Flabbi, Luca; Martin, Juan David
作者单位：Inter-American Development Bank; IZA Institute Labor Economics; The World Bank; University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine
摘要：We develop and estimate a model of supply and demand for childcare. On the demand side, households make consumption, labor supply, and childcare decisions. On the supply side, centers make entry, price, and quality decisions. In addition, both paid and informal caregivers are available. Child development is a function of the time spent with parents and nonparental care providers. We estimate the model using data from the Early Childhood Longitudinal Study, Birth Cohort, and perform policy expe...
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作者：Mazzonna, Fabrizio; Peracchi, Franco
作者单位：Universita della Svizzera Italiana; University of Rome Tor Vergata
摘要：We investigate whether older people correctly perceive their cognitive decline and the potential financial consequences of misperception. First, we show that older people tend to underestimate their cognitive decline. We then show that those experiencing a severe decline but unaware of it are more likely to suffer wealth losses. These losses largely reflect decreases in financial wealth and are mainly experienced by wealthier people who were previously active on the stock market. Our findings ...
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作者：Bhattacharya, Debopam; Shvets, Julia
作者单位：University of Cambridge
摘要：How do elite universities balance diversity and academics during admissions? We develop a theory-based empirical framework to identify and quantify this potential trade-off, using postentry outcomes. We apply this to matched admission and exam-performance data from Cambridge. Comparing first- versus second-round admits from different demographic groups yields bounds on the trade-off magnitude, which (a) hold irrespective of whether we observe all applicant characteristics and (b) require no in...
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作者：Cox, Lydia; Mueller, Gernot J.; Pasten, Ernesto; Schoenle, Raphael; Weber, Michael
作者单位：University of Wisconsin System; University of Wisconsin Madison; National Bureau of Economic Research; Eberhard Karls University of Tubingen; Center for Economic & Policy Research (CEPR); Central Bank of Chile; Brandeis University; University of Chicago
摘要：Big G typically refers to aggregate government spending on a homogeneous good. We confront this notion with five facts for the universe of federal purchases. First, they are volatile and account for the largest part of the short-run variation in total spending. Second, the origin of their variation is granular. Third, purchases are subject to procurement and bidding. Fourth, they are concentrated in long-term contracts. Fifth, their composition is biased toward sectors in which private sector ...
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作者：Lin, Xiao; Liu, Ce
作者单位：University of Pennsylvania; Michigan State University
摘要：We propose a new notion of credibility for Bayesian persuasion problems. A disclosure policy is credible if the sender cannot profit from tampering with her messages while keeping the message distribution unchanged. We show that the credibility of a disclosure policy is equivalent to a cyclical monotonicity condition on the policy's induced distribution over states and actions. We also characterize how credibility restricts the sender's ability to persuade under different payoff structures. In...
