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作者：Hoffman, Mitchell; Kahn, Lisa B.; Li, Danielle
作者单位：University of Toronto; National Bureau of Economic Research; Yale University; Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
摘要：Job-testing technologies enable firms to rely less on human judgment when making hiring decisions. Placing more weight on test scores may improve hiring decisions by reducing the influence of human bias or mistakes but may also lead firms to forgo the potentially valuable private information of their managers. We study the introduction of job testing across 15 firms employing low-skilled service sector workers. When faced with similar applicant pools, we find that managers who appear to hire a...
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作者：Agarwal, Sumit; Chomsisengphet, Souphala; Mahoney, Neale; Stroebel, Johannes
作者单位：Georgetown University; United States Department of the Treasury; Office of the Comptroller of the Currency; University of Chicago; National Bureau of Economic Research; New York University; Center for Economic & Policy Research (CEPR)
摘要：We propose a new approach to studying the pass-through of credit expansion policies that focuses on frictions, such as asymmetric information, that arise in the interaction between banks and borrowers. We decompose the effect of changes in banks' cost of funds on aggregate borrowing into the product of banks' marginal propensity to lend (MPL) to borrowers and those borrowers' marginal propensity to borrow (MPB), aggregated over all borrowers in the economy. We apply our framework by estimating...
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作者：Embrey, Matthew; Frechette, Guillaume R.; Yuksel, Sevgi
作者单位：University of Sussex; New York University; University of California System; University of California Santa Barbara
摘要：More than half a century after the first experiment on the finitely repeated prisoner's dilemma, evidence on whether cooperation decreases with experience-as suggested by backward induction-remains inconclusive. This article provides ameta-analysis of prior experimental research and reports the results of a new experiment to elucidate how cooperation varies with the environment in this canonical game. We describe forces that affect initial play (formation of cooperation) and unraveling (breakd...
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作者：Wiswall, Matthew; Zafar, Basit
作者单位：University of Wisconsin System; University of Wisconsin Madison; National Bureau of Economic Research; Arizona State University; Arizona State University-Tempe
摘要：We use a hypothetical choice methodology to estimate preferences for work-place attributes from a sample of high-ability undergraduates attending a highly selective university. We estimate that women on average have a higher willingness to pay (WTP) for jobs with greater work flexibility and job stability, and men have a higher WTP for jobs with higher earnings growth. These job preferences relate to college major choices and to actual job choices reported in a follow-up survey four years afte...
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作者：Iaria, Alessandro; Schwarz, Carlo; Waldinger, Fabian
作者单位：University of Brighton; University of Warwick; University of London; London School Economics & Political Science
摘要：We show that World War I and the subsequent boycott against Central scientists severely interrupted international scientific cooperation. After 1914, citations to recent research from abroad decreased and paper titles became less similar (evaluated by latent semantic analysis), suggesting a reduction in international knowledge flows. Reduced international scientific cooperation led to a decline in the production of basic science and its application in new technology Specifically, we compare pr...
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作者：Falk, Armin; Becker, Anke; Dohmen, Thomas; Enke, Benjamin; Huffman, David; Sunde, Uwe
作者单位：University of Bonn; Harvard University; Harvard University; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; National Bureau of Economic Research; University of Munich
摘要：This article studies the global variation in economic preferences. For this purpose, we present the Global Preference Survey (GPS), an experimentally validated survey data set of time preference, risk preference, positive and negative reciprocity, altruism, and trust from 80,000 people in 76 countries. The data reveal substantial heterogeneity in preferences across countries, but even larger within-country heterogeneity. Across individuals, preferences vary with age, gender, and cognitive abil...
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作者：Gomes, Renato; Tirole, Jean
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Centre National de la Recherche Scientifique (CNRS); Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics
摘要：Firms often sell a basic good as well as ancillary ones. Hold-up concerns have led to ancillary good regulations, such as transparency and price caps. The hold-up narrative, however, runs counter to evidence in many retail settings where ancillary good prices are set below cost (e.g., free shipping or limited card surcharging in countries where the no-surcharge rule was lifted). We argue that the key to unifying these conflicting narratives is that the seller may absorb partly or fully the anc...
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作者：Acemoglu, Daron; Egorov, Georgy; Sonin, Konstantin
作者单位：Massachusetts Institute of Technology (MIT); Northwestern University; University of Chicago; HSE University (National Research University Higher School of Economics)
摘要：An influential thesis often associated with de Tocqueville views social mobility as a bulwark of democracy: when members of a social group expect to join the ranks of other social groups in the near future, they should have less reason to exclude these other groups from the political process. In this article, we investigate this hypothesis using a dynamic model of political economy. As well as formalizing this argument, our model demonstrates its limits, elucidating a robust theoretical force ...
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作者：Mertens, Karel; Olea, Jose Luis Montiel
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Dallas; Columbia University; Center for Economic & Policy Research (CEPR)
摘要：Using new narrative measures of exogenous variation in marginal tax rates associated with postwar tax reforms in the United States, this study estimates short-run tax elasticities of reported income of around 1.2 based on time series from 1946 to 2012. Estimated elasticities are larger in the top 1% of the income distribution but are also positive and statistically significant for other income groups. Previous time series studies of tax returns data have found little evidence for income respon...
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作者：Giglio, Stefano; Kelly, Bryan
作者单位：Yale University; National Bureau of Economic Research; University of Chicago; National Bureau of Economic Research
摘要：We document a form of excess volatility that is difficult to reconcile with standard models of prices, even after accounting for variation in discount rates. We compare prices of claims on the same cash flow stream but with different maturities. Standardmodels impose precise internal consistency conditions on the joint behavior of long- and short-maturity claims and these are strongly rejected in the data. In particular, long-maturity prices are significantly more variable than justified by th...
